Mutual fund investors will now get a monthly consolidated statement of all of their transactions in different fund houses, Association of Mutual Funds in India (AMFI) said on Thursday. The mutual fund industry has decided to issue Consolidated Accounts Statement (CAS) on monthly basis for transaction starting October, AMFI said in a statement. "This is an investor-friendly initiative to allow investors a single-window view of all their transactions in mutual funds," chief executive of AMFI HN Sinor said. CAS will be issued as a monthly statement to investors, if there are any transactions during the month, he added.
BSE proposes index for climate change
Leading bourse BSE on Thursday began the consultation process for launch of a carbon index, a move that will help investors mitigate their exposure to financial risks associated with the climate change. The exchange on Thursday released a concept note on its 'Carbon Indexing Project', marking the first-ever attempt to create a Carbon Index in an emerging economy. The objective of this initiative is that it will help to build up expertise in analysing the risks and opportunities face associated with climate change, and with carbon regulation.
Nifty cos’ Q2 net falls first time in 2 yrs: Credit Suisse
The Nifty index constituent companies' profit fell for the first time in two years in the July-Sept quarter on an yoy basis inspite of a 20% sales growth, Credit Suisse said in a note on Thursday. Both operating and net margins for the companies' declined for the fourth quarter in a row and are at three-year lows, the report said. PAT (profit after tax) margins fared worse than operating margins due to significant non-operating forex losses, as well as continued sharp increases in interest costs, it said. A large number of top Indian companies like Ranbaxy Laboratories and Mahindra & Mahindra have seen profits eroded hurt by foreign exchange losses.