Read this news about SIP update if you invest in the stock market or mutual funds (MF). Fixed deposits (FDs) are valued more highly by high-net-worth investors (HNIs) than bond mutual funds. This is because bond mutual funds are now subject to taxes, which makes them less appealing as an investment. According to Motilal Oswal Institutional Equities’ head of BFSI (banks, financial services, and insurance) research, Nitin Agarwal, “With this, the interest rate on bank deposits has increased well in the last year.” As a result, HNIs are becoming less interested in bond mutual funds and are increasingly drawn to FDs in banks.
SIP Update – Worrying about past issues
HNIs are aware of the benefits of mutual funds (MFs) over other financial products, nevertheless. But he is nonetheless troubled by the region’s previous issues. Large mutual fund distributors and institutional sales agents with Assets Under Management (AUM) of more exceeding Rs 1,000 crore provided input for the report.
PMS (Portfolio Management Services) and AIFs (Alternative Investment Funds)
are preferred by HNIs as well, reports claim. HNI consumers failed to keep up a sizable investment in the Systematic Investment Plan (SIP) in this scenario. The returns from it have been quite low over the past three years, which is why.
After the new tax regulations for bond mutual funds went into effect on April 1, HNIs are favoring bank FDs. Short-term capital gains tax will be applied on investments in bond mutual funds made on or after April 1, 2023, under the new regulation.
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