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Finally some respite for MFs after getting hit hard from redemption pressures

Manpreet


Government has allowed navratnas and miniratnas to put 30% of the surplus funds they hold in equity markets via the mutual funds of public sector. This is actually resuming of scheme that had expired on 1Aug of this year, one year after its notification. The announcement was made by FM P Chidambaram while he was talking to reporters. He said that CCEA reviewed the situation and arrived at the stated conclusion.


Value Research’s Dhirendra Kumar opined that this decision has been well received, for sure, but there has been a slight overestimation in gauging its positive impact. The reason is that not many PSEs opt for this route for utilizing their surplus funds.


The move is a step in permitting PSEs to have similar opportunities as that of private sector players. This was, when it was realized that PSEs too can have access to professional management, the restriction was lifted.
 
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