Mutual fund industry clocks 3 rise in AUM in October on higher

first_imgAverage assets under management (AUM) of the mutual fund industry in India rose 3.1 percent to Rs 16.28 lakh crore in October on the back of higher inflows into income funds, equity and balanced fund categories.”The month-on-month basis AUM of all categories witnessed rise except liquid, gold ETF and fund of funds investing overseas which witnessed fall,” the IDBI Capital said in a report.Income funds witnessed the highest inflow of Rs 52,125 crore in October followed by equity funds, which saw an inflow of Rs 8,688 crore during this period.Liquid fund witnessed the highest outflow of Rs 34,813 crore in October.On average AUM term, gilt funds saw the highest rise of 9.4 percent to Rs 16,832 crore followed by income funds, which witnessed a growth of 8.1 percent to Rs 7,54,662 crore during this period.”Among all the categories, liquid and fund of funds categories witnessed net outflows,” the report said. Inflow in October also exceeded the previous month figures by a wider margin indicating rising interest among investors. “Net inflow in the industry stood at Rs 32,334 crore in October against Rs 16,071 crore reported in September,” the report said.The industry mobilised Rs 1,110 crore from 13 newly launched schemes in October, out of which nine are close-ended and four are open-ended funds, the report noted.During this period, domestic mutual funds were the net buyers in Indian equities with Rs 8,744 crore of investment against a net buying of Rs 2,714 crore in September.Meanwhile, assets under management of equity funds increased 3.6 percent to Rs 4.32 lakh crore. Similarly, assets under ELSS (equity-linked savings scheme) rose 3.3 percent to Rs 52,391 crore during this period.last_img read more

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Huawei launches MediaPad T5 amid shrinking tablet sales Bets on affordability factor

first_imgClose Huawei is one of the few brands keeping the tablets market alive. If the numbers are to be believed, Huawei is only after Apple when it comes to making sizable tablet sales, and the Chinese tech giant is pushing its efforts to remain one of the biggest contributors with the launch of its latest MediaPad T5 tablet in India.Huawei is betting on the affordability factor to win over consumers for its MediaPad T5. Priced at Rs 14,990, the Huawei tablet is for those who factor value for money and be content with basic features and configuration.Huawei MediaPad T5 comes in two variants, 2GB+16GB and 3GB+32GB, priced at Rs 14,990 and Rs 16,990, respectively. As a part of the introductory offer, the budget tablet comes with a free flip cover and Huawei Earphone AM 12 worth Rs 2,998 for free. The MediaPad T5 is listed on Amazon India and goes on sale starting July 10. Huawei launches MediaPad T5 in IndiaHuaweiAs for the features, Huawei MediaPad T5 comes with a 10.1-inch Full HD display with 16:10 aspect ratio and considerable bezels. Under the hood, it packs an octa-core HiSilcon Kirin 659 processor, a 5,100mAh battery and Android 8.0-based EMUI 8.0 OS.Huawei MediaPad T5 features a 5MP rear-facing camera with f/2.4 aperture and autofocus, and a 2MP front-facing shooter for selfies but preferably usable for video calls. Additional features include Wi-Fi 802.11ac, 4G LTE support, GPS, Micro-USB port and microSD card slot.The tablet has dual Histen speakers, eye comfort mode for comfortable viewing for long hours by minimizing blue light. There’s a Children’s Corner, which makes the MediaPad T5 a suitable gadget for your growing kid as it lets you limit usage as well as customise the content available. Huawei P30 Pro First Impressions, a super camera smartphone with extensive photography skillslast_img read more

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UN warns of rising food insecurity across Africa

first_imgUnited NationsAbout 224 million people are suffering from malnutrition across Africa as climate change and conflicts heighten food insecurity across the continent, a top UN food agency official said Monday.The official, speaking at a conference on Africa organised by the UN’s Food and Agriculture Organization (FAO), said the situation was a “cause of concern” as the continent’s population was expected to reach 1.7 billion by 2030.“Under-nourishment appears to have increased from about 21 percent to nearly 23 percent between 2015 and 2016,” Bukar Tijani, FAO’s assistant director general for Africa, said at the regional conference that opened on Monday in Khartoum.“Over the same period, the number of under-nourished rose from 200 million to 224 million in Africa. This is a cause of concern for all of us.”The rise in malnutrition and food insecurity was related to climate changes and disasters like floods, droughts and crop failures, Tijani later told AFP on the sidelines of the forum.He said conflicts in countries like Somalia, South Sudan and the Central African Republic further increased food insecurity.“When you look at those conflicts, it has also brought challenges because even when food is available it is not affordable and it cannot reach those conflict areas.”UN officials have warned that growing food insecurity was displacing more and more people across the region, with food needs being the main cause in countries such as South Sudan.About one million South Sudanese have crossed borders to become refugees as they flee violence in the world’s youngest country formed in 2011.Soon after its secession from the north, South Sudan descended into war in December 2013 when President Salva Kiir accused his former deputy Riek Machar of plotting a coup.On a positive note, Tijani said Africa’s economy was improving and its food and agriculture market was estimated to reach one trillion dollars by 2030.This created opportunities for new investments.Hundreds of delegates from across Africa will be attending the five-day conference in the Sudanese capital to discuss efforts to eradicate hunger and food insecurity in Africa.last_img read more

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