The fund will now completely stop accepting fresh applications, new SIPs and new systematic transfer plans (STPs) from investors starting next week.
The bond yield rose 12 basis point on Thursday. In the last two days, yields have surged about 43 bps to 6.86%, resulting in a drop in bond prices.
Central KYC Registry, or CKYCR, will re place the existing multi ple KYC submission pro cesses one needs to go through for various fi nancial transactions
CKYC has been undertaken to move investors to a single KYC platform.
Quantum, which is the only fund in the 42-member strong mutual fund industry that does not pay commissions to distributors for selling its schemes, already charges a low expense compared to direct plans of actively managed equity mutual fund schemes.
“Infra is one sector I would recommend for the next one year. The government spending is going to rise," said S Naren, executive director at ICICI Pru Mutual Fund.
Investors can apply for ‘8% Savings GOI Bonds’ in individual capacity, joint basis or anyone or survivor.
Infosys is among the top holdings of large equity mutual funds, such as HDFC Equity, ICICI Prudential Focussed Bluechip Fund and HDFC Top 200.
The pharma fund category lost 5%, while the technology segment is down 3% in the past year, according to Morningstar. During the same period, Nifty Pharma lost 9%, while Nifty IT index lost 7%.
Pharma funds have lost 5 per cent, while the IT segment is down 3% in the past year.
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