EQUITY MARKET OVERVIEW
The market was volatile this week and the Nifty after reaching almost 8900 gave way closing the week at 8831. Global economic uncertainty continues and so does the low interest regime that’s fueling the current uptick in most of the risk assets.
This week, the US Fed held on to the rates and is likely to take a re look only post the presidential elections. The Bank of Japan refrained from further reduction. The negative interest rates in some parts of the developed world is a new phenomenon and it is very difficult to predict how it will end. Low interest rates are already having impact on corporates which had a defined benefit pension scheme for their employees. Even many governments are being impacted.
The rate cut era began in late 80’s in the developed world and accelerated post 2008. The negative interest regime has gone to such an extent that a couple of corporates like Sanofi and Henkel recently raised bonds with a negative coupon. Which would mean that the holder will actually get less money than he invested if he holds the bond to maturity.
In this environment, one should remain cautious while investing, despite the fact that the Indian economy is doing well and continues to grow.
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HDFC Tax Saver
Nav as on 15/09/2016 60.07
1 year annualised returns 12.57
Since inception 27.42
DSP Blackrock Top 100 Equity Fund
Nav as on 15/09/2016 22.93
1 year annualised returns 15.50
Since inception 23.56
Birla Sun Life Forntline Equity Fund
Nav as on 15/09/2016 27.79
1 year annualised returns 17.10
Since inception 23.01
|Scheme ||Current NAV ||Div. % ||Record Date|
|SBI Bluechip Fund(D)||18.59||10%||Sep 26, 2016|
|ICICI Prudential Equity Income Fund-Regular Plan(Q||11.33||1.20%||Sep 23, 2016|
New Fund Offer
|Scheme ||Structure ||Remarks ||Offer Period End|
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