The Securities and Exchange Board of India (Sebi) has allowed mutual funds (MFs) to change the cut-off timings for equity and debt schemes from 3pm to 1pm and for liquid and overnight schemes to 12.30pm from 1.30pm. The move comes following the MF industry's request to Sebi to reduce the timings in the light of the prevailing lockdown amid the Coronavirus outbreak and RBI's direction to reduce debt market timings for the same reason.
In a letter written to markets regulator Sebi on 19 March, the Association of Mutual Funds of India (AMFI) has warned of multiple areas of disruption for mutual funds due to the Covid-19 related restrictions in Mumbai. In particular AMFI highlighted Brihanmumbai Municipal Corporation (BMC) directives on mandatory reduction of staff strength in offices by 50%.
I am interested in investing in mutual funds at this point of time. But I only want to invest in tax-free funds. I am interested in long-term like 20 to 30 years. So, which mutual funds would you recommend for me?
I am a beginner. I am willing to start my investment journey now. Can you suggest some suitable mutual funds for me? I am interested to invest in index funds, large cap funds, and multi cap funds. My investment horizon is 15 years. My risk profile is moderate. I want to earn 15% returns over a long period and also wants to gain in the short period (7 years).
With COVID-19 worries rising in Mumbai, the country's financial capital, the state government has imposed a shutdown of shops and offices, except those providing essential services. The complete lockdown impacted the mutual fund sector too and the Association of Mutual Funds in India (Amfi) directed mutual fund houses to close their collection centres and branch offices.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.