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Erstwhile Unit Trust of India was bifurcated with the non-NAV based schemes brought under the government purview and other under the purview of SEBI. While the former came under the Administrator of the Specified Undertaking of The Unit Trust of India (SUTTI) and the latter became the asset manager, UTI Mutual Fund.
Navi launched its UPI offering, Navi UPI, in August 2023. It has rapidly become one of the fastest-growing UPI platforms. By June 2024, the platform has already recorded a 12-fold increase in growth on Android compared to March 2024.
The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$590 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$97 billion) recorded in December 2013.
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A Southern California business owner convinced victims to invest in his companies, claiming he could detect Covid-19 based on video, and then made lavish purchases, prosecutors said.
Two trendy areas in finance — fintech and private credit — are coming together in a new multibillion-dollar joint venture. Affirm Holdings is getting its largest-ever capital commitment with a ...
Fund administration is the name given to the execution of back office activities including fund accounting, financial reporting, net asset value calculation, capital calls, distributions, investor communications and other functions carried out in support of an investment fund, which may take the form of a traditional mutual fund, a hedge fund, a private equity fund, a venture capital fund, a ...