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Institutional inflows help HDFC MF regain top spot

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Mumbai, Jan 11 (IANS) Helped by institutional inflows, HDFC has regained the top spot in mutual fund rankings, overtaking ICICI mutual fund.

As per the December 31 end of period (EOP) assets under management (AUM), HDFC had assets worth Rs 2,93,011 crore, ahead of ICICI with Rs 2,82,068 crore.

Industry sources, however, said that rankings traditionally have been based on Q-AAUM, or the quarterly assets under management, published by the Association of Mutual Funds in India (AMFI) at the end of each quarter.

Also, EOP AUM ranking could again change as it accounts for AUM on a particular day and is largely dependent on the outflows on the last day of the period.

The sources said that, as per Q-AAUM for the quarter to December 31, 2017, ICICI MF, with Rs 2,93,338 crore, still holds the top position, ahead of HDFC MF with Rs 2,89,168 crore.

Industry saw outflows of an estimated Rs 1,27,000 crore in liquid funds in the quarter to December 31, 2017. Liquid assets were at Rs 3,55,408 crore at start of the quarter and stood at Rs 2,97,253 crore at its end.

As short-term institutional money is primarily invested in liquid funds, its outflow also affects relative ranking of MF players.

Institutional money decides ranking of mutual fund players as it accounts for Rs 11,00,000 crore, or over 50 per cent of the total MF industry assets of Rs 21,37,000 crore.

The bulk of the MF industry has been focusing on profitability as key criteria for ranking mutual fund players, as it factors in stable AUM growth with more sticky and retail assets rather than building top line by accessing large corporate money.

Post-demonetisation, the MF industry has gained a lot of momentum, but it remains divided among those focusing on the topline for higher AUM growth and those emphasising retail assets and seeking profitable growth.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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