Weekly News 10th Oct 2022

1. Weekly
News
10th Oct 2022
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2. Snapshot
New Schemes
Launched
RBI to soon commence
pilot launch of Digital
Rupee
A Balasubramanian re-
elected as chairperson,
Radhika Gupta elected
vice-chairperson of
AMFI
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Weekly Market News

3. Weekly Market News
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Index % Change
Nifty 50 1.3 %
Nifty Midcap 150 2.1%
Nifty Small Cap 250 1.4 %
Nifty IT 2.8%
Nifty Bank 1.4%
Nasdaq 100 -1.7%

4. New Schemes Launched
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 Tata Mutual Fund launches Nifty Midcap 150 Momentum 50 Index Fund
 IDFC Mutual Fund launches Transportation and Logistics Fund
 ICICI Prudential MF launches two target maturity funds

5. New Scheme Launched By Tata Mutual Fund
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 Tata Mutual Fund has launched Tata Nifty Midcap 150 Momentum 50 Index Fund, an
open-ended scheme replicating/tracking NIFTY Midcap 150 Momentum 50 Index.
 The New Fund Offer (NFO) opened on October 4 and will close on October 17.
 Tata Nifty Midcap 150 Momentum 50 Index Fund will invest in securities covered by
NIFTY Midcap 150 Momentum 50 Index with 95%-100% allocation, debt and money
market instruments upto 5% allocation and will be benchmarked against NIFTY
Midcap 150 Momentum 50 Index (TRI).

6. New Scheme Launched By ICICI Prudential MF
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 ICICI Prudential Nifty SDL Dec 2028 Index Fund and ICICI Prudential Nifty G-Sec
Dec 2030 Index Fund. Target Maturity Index Funds are open-ended passively
managed funds that replicate the underlying debt index having a specific maturity
date. The constituents of the index are generally hold-till-maturity.
 ICICI Prudential Nifty SDL Dec 2028 Index Fund will open for subscription on
October 4 and closes on October 11. ICICI Prudential Nifty G-Sec Dec 2030 Index
Fund will open on October 4 and close on October 10.

7. New Scheme Launched By IDFC Mutual Fund launches
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 IDFC Mutual Fund has launched the IDFC Transportation and Logistics Fund,
open-ended equity scheme that will invest in the transportation and logistics sector,
intending to benefit from the multi-year growth opportunity in the mobility services
sector.
 The New Fund Offer will open on October 4 and will close for subscription on
October 18. The fund will be managed by Daylynn Pinto.
 NSE data as of August 2022 indicates that the Nifty Transportation and Logistics
Index has outperformed the Nifty 500 Index in 8 out of 11 calendar years from 2012
to 2022 (YTD Aug’22)

8. Axis Mutual Fund eyes Rs 100 cr from Nasdaq 100 fund of
fund
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 Axis Mutual Fund is targeting to garner Rs 100 crore from its Nasdaq 100 fund of fund
during the primary sales period
 The open-ended fund of fund scheme, open for subscription from Friday through October
21, will invest in the overseas units of exchange traded funds (ETFs) focused on the
Nasdaq 100 index
 New fund of fund will be investing in some overseas ETFs tracking the Nasdaq 100 index
such as the Xtrackers Nasdaq 100 UCITS ETF, iShares Nasdaq 100 UCITS ETF, and
Invesco EQQQ Nasdaq-100 UCITS ETF among others, and will be managed by Hitesh
Das, who is the fund manager at Axis AMC's overseas investments.
 On the exit charges, he said if redeemed/switched out within seven days of the allotment,
the investor will have to pay 1 per cent in exit charges, and beyond seven days there is
nothing.

9. RBI to soon commence pilot launch of Digital
Rupee
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 The Reserve Bank of India on Friday said it will soon commence pilot launch of
e-rupee for specific use cases and also released a concept note on Central Bank
Digital Currency (CBDC)
 Aims to create awareness about such currencies in general and the planned
features of the Digital Rupee in particular.
 RBI will continue to communicate about the specific features and benefits of
digital rupee, from time to time, it said in a statement.
 CBDC will be a medium of payment, a legal tender and a safe store value for all
citizens, businesses, governments and others, which can get it converted in the
bank money or cash.

10. A Balasubramanian re-elected as chairperson, Radhika Gupta
elected vice-chairperson of AMFI
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 A Balasubramanian, MD & CEO of Aditya Birla Sun Life Mutual Fund, has been re-
elected as the Chairperson of Association of Mutual Funds in India (AMFI), at the recent
Board Meeting of AMFI post the 27th AGM held in September 2022
 Radhika Gupta as the Vice-Chairperson of AMFI to hold office until the conclusion of 28th
Annual General Meeting
 As the Chairman of AMFI, A Balasubramanian would also continue as the ex-officio
Chairman of AMFI Financial Literacy Committee till the conclusion of the next AGM
 Vishal Kapoor, Chief Executive Officer, IDFC Asset Management, has been re-elected as
the Chairman of AMFI Committee of Certified Distributors (ARN Committee).

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