A finance ministry official said that it is too early for a strategic sale in the bank.
The fund had been suspended from the MF portal only today morning. A Sundaram MF spokesperson had said that the fund would be reinstated in a day or two.
Over the past five years, retail investors have increasingly subscribed to SIPs.
Emails sent to some fund houses did not elicit response, although several fund managers, speaking on conditions of anonymity, acknowledged more intense rating scrutiny of the public sector lender.
The biggest ever banking fraud, which has engulfed PNB, could trigger a rating downgrade.
These equity-oriented schemes together hold PNB shares worth Rs 3,980 crore.
These equity-oriented schemes together hold PNB shares worth Rs3,980 crore, according to Value Research. Some popular schemes of HDFC Mutual Fund held shares worth Rs 1800 crore as on January 31, 2018 which account for 1-2% of the portfolio for individual schemes.
Financial planners believe it will be tax efficient to move to the growth plan of mutual funds.
Once the budget is passed in parliament, from April 1, fund houses will deduct a 10% dividend distribution tax and pay the investor.
Fund managers have preferred companies with strong current growth.
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