Focused mutual fund assets increased by 31 percent, approval to invest in maximum 30 shares

With this, the number of focused mutual funds investing in limited shares has increased and has become popular among investors. According to the available data, its assets base increased by 31 percent to Rs 1.43 lakh crore during the first quarter of the current financial year. Explanation: A focused mutual fund is an equity mutual fund that invests in a limited or small number of shares. It is further mandated that there are SEBI guidelines, which allow focused funds to have exposure to a maximum of 30 shares.

According to data, some focused funds such as Invesco India Focused Fund, Mahindra Manulife Focused Fund, JM Focused Fund, and HDFC Focused 30 Fund have yielded returns in the range of 40-60 percent in one year. The gain in AUM is an indicator of the attractiveness-focused funds are seen to have as an alternative to PMS, said Firoz Aziz, Deputy Chief Executive Officer, Anand Rathi Wealth.

Domestic prices of steel have touched a three-year low on higher imports. Prices of hot rolled coil have slid to Rs 51,000 per tonne. It had been ruling at a peak of Rs 76,000 in April 2022.

According to a BigMint report, the price of cold rolled coils is currently Rs 58,200 per tonne. It was Rs 86,300 in April 2022. However, these prices are in addition to 18 percent GST.

Steel imports rose 68 percent to 19.3 lakh tonnes in April-June. Imports grew by 38 percent in 2023-24. The steel industry says that the government should import steel only from select countries. Also, the industry should be saved by increasing exports.

The fall in prices has reduced the income of cement companies in the April-June quarter. However, volumes have increased. Companies like UltraTech, Ambuja, ACC, and Dalmia Bharat say that their volumes have increased by 3-9 percent.

The average price of a 50 kg bag of cement in the country has fallen by three percent on an annual basis to Rs 348 in June.