Agrawal did not comment on his new rule but the industry is abuzz with speculation that he might join Tata Mutual Fund. This could not be independently confirmed.
578 mutual fund schemes collectively hold HDFC Bank shares worth Rs 32,223 crore.
The AUM of the industry has already reached Rs 17.4 lakh crore in January 2017, expanding 36.4 per cent from Rs 12.7 lakh crore at the end of January 2016.
RBI signalled that there would be fewer rate cuts ahead, causing bond prices to tumble and in turn leading to erosion in values of long-term debt MF schemes.
Investors looking for geographical diversification in their portfolio can consider investing in international markets through mutual funds.
The fund will now completely stop accepting fresh applications, new SIPs and new systematic transfer plans (STPs) from investors starting next week.
The bond yield rose 12 basis point on Thursday. In the last two days, yields have surged about 43 bps to 6.86%, resulting in a drop in bond prices.
Central KYC Registry, or CKYCR, will re place the existing multi ple KYC submission pro cesses one needs to go through for various fi nancial transactions
CKYC has been undertaken to move investors to a single KYC platform.
Quantum, which is the only fund in the 42-member strong mutual fund industry that does not pay commissions to distributors for selling its schemes, already charges a low expense compared to direct plans of actively managed equity mutual fund schemes.
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