Indian Mutual Funds Industry:
- Mutual fund industry's assets base has surged by nearly Rs.3 lakh crore in 2014-15 to become a Rs.12 lakh crore market, mainly driven by a smart rally in the equity market.
- The Mutual fund industry saw a growth of 31% in their asset base to Rs 11.88 lakh crore at the end of March 31, 2015. The asset case surged by nearly Rs.3 lakh crore from Rs. 9.05 lakh crore in 2013-14.
- Mutual funds pumped in over Rs 40,722 crore in equity markets in 2014-15, making it their first net inflow in six years for an entire fiscal and on back of over Rs.14,000 of withdrawals in 2013-14. Further, fund managers invested a net amount of Rs 5.87 lakh crore in debt markets in 2014-15.
- Equity mutual funds saw 25 lakh folios added in 2014-15, the first rise in over four years. As per SEBI, equity folios jumped to 3.17 crore in March from 2.92 crore a year earlier. Prior to 2014-15, the equity MF sector had seen a continuous closure of folios since March 2009.
- Mutual fund orders placed through the stock exchange platforms has more than doubled to over 19 lakh in 2014-15, primarily on the back of an increased appetite among investors. Trading platforms -- BSE Star MF and NSE MFSS -- have collectively witnessed an increase in orders at 19,66,901 in 2014-15 from 8,19,388 in the preceding financial year.
- HDFC MF continued to retain its top spot as the biggest fund house with an AUM of Rs. 1.62 lakh crore, followed by ICICI Prudential MF (Rs 1.48 lakh crore), Reliance MF (Rs 1.37 lakh crore), Birla Sun Life MF (Rs 1.2 lakh crore) and UTI MF (Rs 92,751 crore). The fiscal year also saw some exits from the industry including exits by Daiwa, ING, Morgan Stanley, Pramerica, Fidelity and Pinebridge.
Indian Insurance Industry:
- General insurance industry growth hits a 3-yr low with new premium growth slowing by 9.3% in FY15 at 84,715 crore, according to provisional data. The industry had grown by 13% FY 14 to Rs 77,540 crore, according to the General Insurance Council data.
- Domestic and foreign insurance companies have been allowed to set up IFSC Insurance Office (IIO) in special economic zones (SEZs), subject to conditions and approval from regulator, as per the IRDAI's International Financial Service Centre Guidelines, 2015.
- All individual non-life insurance buyers paying a premium of Rs 10,000 or more will now have their policies in dematerialised form, while the cut-off amount for life policies will be Rs 50,000, according to a new proposal by IRDA. At present, non-life insurance policy buyers do not enjoy the option to hold a policy in electronic form like life insurance policy buyers.