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The board of clean energy solution provider <keyword id="46212" type="General" weightage="20" keywordseo="Suzlon-Energy" source="Orion">Suzlon Energy</keyword> has appointed J P <keyword id="149791" type="General" weightage="100" keywordseo="chalasani" source="Orion">Chalasani</keyword> as the company's Chief Executive Officer following the resignation of <keyword id="6372540" type="General" weightage="20" keywordseo="Ashwani-Kumar" source="Orion">Ashwani Kumar</keyword> from the post. Ashwani Kumar has resigned as the CEO with effect from 5th April 2023 on account of personal reasons, a BSE filing stated. <br /><br /> The Board of Directors, at its meeting held on 4th April 2023 has, inter alia, approved the appointment of J P Chalasani as the Chief Executive Officer and one of the key managerial personnel of the Company, to act as the Group Chief Executive Officer, with immediate effect, i.e. from 5th April 2023, the filing said. <br /><br /> Chalasani had been Group CEO of Suzlon for the period from April 2016 to July 2020 and continued as Strategic Advisor to the Suzlon Group thereafter. <br /><br /> Chalasani has over 40 years of experience in the public and private sector across the entire gamut of the power sector (power generation projects, transmission, distribution, trading and coal mining). <br /><br /> Prior to his earlier stint as the Group Chief Executive Officer of the Company, Chalasani was the Group CEO and Managing Director of Punj Lloyd since January 2014 and was responsible for the energy, infrastructure and defence business for the group globally, which is close to USD 1.8 Billion. <br /><br /> Prior to joining Punj Lloyd, Chalasani had spent over 18 years with the Reliance Group. He joined Reliance Group (undivided) as a Vice President in 1995 and worked on a number of assignments for the group. <br /><br /> He also served as the first Chief Executive Officer and the Director on the Board of BSES Rajdhani and BSES Yamuna Power Ltd. <br /><br /> In 2003, along with Anil Ambani, he was appointed to the Board of Reliance Infrastructure as Director Business Development. Post demerger of the Reliance Group, Chalasani was with the ADAG group. <br /><br /> He took over as CEO of Reliance Power in March 2008, soon after the company completed its big initial public offer. <br /><br /> Chalasani created a 10 people team to start Reliance Power and grew it to a 30,000 MW (generating, under construction and under development) company in 2013. <br /><br /> Prior to Reliance Group, Chalasani started his career at NTPC and worked there for 15 years in various capacities, including Special Technical Assistant to the Chairman and Managing Director.

Suzlon board appoints J P Chalasani as Chief Executive Officer

New Delhi, Mar 9 () State Bank of India on Monday said Chalasani Venkat Nageswar has been given additional charge of deputy managing director and chief financial officer (CFO) of the bank.<p> "Chalasani Venkat Nageswar, Deputy Managing Director, International Banking Group, has been given additional charge of deputy managing director and CFO with immediate effect till further orders," the country's largest lender said in a filing to the BSE.</p>SBI stock was trading at Rs 259.35, down 4.10 per cent, on the BSE.  SID  SID ANUANU

Chalasani Venkat Nageswar gets additional charge of DMD, CFO of SBI

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Radhika Chalasani/UNICEF</span></p><p class="caption">Greta Thunberg (second from left) takes part in a press conference at UNICEF Headquarters in New York City to announce an official complaint that she and 15 other children filed against five UN member countries, September 23, 2019.</p></div><p></p></div></div></p><ul class="summary-list"><li>On Monday, the United Nations hosted a <a href="https://www.un.org/en/climatechange/">Climate Action Summit</a> in New York City to spur member nations <a href="https://www.un.org/en/climatechange/assets/pdf/CAS_main_release.pdf">to take action to curb climate change</a>.</li><li>At the event, <a href="https://www.businessinsider.com/greta-thunberg-bio-climate-change-activist-2019-9">Greta Thunberg</a>, the 16-year-old behind the worldwide School Strike for Climate movement, told world leaders: <a href="https://www.businessinsider.com/greta-thunberg-tearful-speech-un-climate-action-summit-2019-9">"You have stolen my dreams and my childhood with your empty words."</a></li><li>After that address, Thunberg joined 15 other youth activists at the United Nations Children's Fund (UNICEF) to announce <a href="https://www.businessinsider.com/french-president-reacts-to-greta-thunbergs-climate-change-lawsuit-2019-9">a formal legal complaint</a> against Brazil, France, Germany, Argentina, and Turkey.</li><li>The plaintiffs allege that these countries are violating their rights as children by failing to sufficiently address climate change.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>On Monday, 16-year-old climate activist Greta Thunberg and 15 other young people from around the world filed a legal complaint against five of the world's biggest global carbon polluters.</p><p>The youth activists allege that those governments' lack of action to combat climate change violates their rights as children.</p><p>The group - whose ages range from 8 to 17 - announced the complaint at the Headquarters of the United Nations Children's Fund (UNICEF) in New York. The five countries named are Brazil, France, Germany, Argentina, and Turkey - some of the world's biggest greenhouse-gas emitters.</p><p>Thunberg and her peers filed the complaint under the 1989 UN Convention on the Rights of the Child, which stipulates a set of inalienable rights for all children worldwide, including to life, health, and peace. The complaint alleges that accelerating climate change puts those rights at risk.</p><p>"Our homes are being swallowed by the ocean, the places where memories are made," 17-year-old plaintiff Carlos Manual, from the Pacific island nation of Palau, said during a press conference announcing the complaint. "I am standing in front of you because I care about my generation."</p><p>The complaint did not include the US and China, which produce the most greenhouse-gas emissions in the world, because those countries haven't signed the section of the treaty that allows children to seek justice for potential violations.</p><h2>The youth activists say the climate crisis is a violation of children's rights</h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Carlo Allegri/Reuters</span></p><p class="caption">Swedish environmental activist Greta Thunberg speaks during the Climate Action Summit at the United Nations Headquarters in New York, New York, September 23, 2019.</p></div><p></p></div></div></p><p>Before announcing the complaint, Thunberg kicked off the United Nations Climate Action Summit with an impassioned speech to world leaders.</p><p>"This is all wrong. I shouldn't be standing here. I should be back in school on the other side of the ocean," <a href="https://www.businessinsider.com/greta-thunberg-tearful-speech-un-climate-action-summit-2019-9">she said with tears in her eyes</a>. "Yet you all come to me for hope? How dare you. You have stolen my dreams and my childhood with your empty words."</p><p>Thunberg held the room in thrall as she chastised leaders for talking about "money and fairy tales of eternal economic growth" while people suffer.</p><p>"You are failing us," she said. "But the young people are starting to understand your betrayal."</p><p>The 16 youth petitioners behind the complaint come from Argentina, Brazil, France, Germany, India, the Marshall Islands, Nigeria, Palau, South Africa, Sweden, Tunisia, and the United States.</p><p><em><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Radhika Chalasani/UNICEF</span></p><p class="caption">Youth petitioners introduce themselves during a press conference, September 23, 2019, at the UNICEF House in New York.</p></div><p></p></div></div></em></p><p>The petitioners allege that the five named countries have knowingly contributed to the climate crisis, which threatens children's lives with extreme weather, floods, wildfires, sea-level rise, the spread of mosquito-borne disease, and poor air quality.</p><p>The complaint also says climate change threatens indigenous groups and fosters mental health issues among children, including "climate anxiety and solastalgia - mourning the destruction of a cherished place."</p><p>The petitioners allege that the five named countries are not on track to meet their emissions goals under the 2015 Paris Climate Agreement. They argue that, by the time that the countries put forward those goals, it was clear their emissions already endangered children's lives.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://weshare.unicef.org/CS.aspx?VP3=SearchResult&amp;STID=2AM408TVA60S&amp;VBID=2AM4WRN3F0V&amp;POPUPPN=15&amp;POPUPIID=2AM408TVH94G">Radhika Chalasani/UNICEF</a></span></p><p class="caption">Catarina Lorenzo Home, 12, from Brazil, speaks at the press conference at UNICEF House in New York, September 23, 2019. Lorenzo Home says that the climate in her hometown has gotten much drier, and she and her family save water in a tank in preparation for the next water shortage.</p></div><p></p></div></div></p><p>"It was clear then that every metric ton of CO2 that they emitted or permitted was adding to a crisis that transcends all national boundaries and threatens the rights of all children everywhere," the complaint says.</p><p>The youth petitioners are asking the five countries to change their climate policies.</p><p>"Thirty years ago, world leaders made a historic commitment to the world's children by adopting the Convention on the Rights of the Child. Today, the world's children are holding the world accountable to that commitment," Charlotte Petri Gornitzka, UNICEF's deputy executive director, said in a press release. "We fully support children exercising their rights and taking a stand. Climate change will impact every single one of them. It's no wonder they are uniting to fight back."</p><p>Now that the complaint has been officially filed, the <a href="https://www.ohchr.org/EN/HRBodies/CRC/Pages/Membership.aspx">UN Committee on the Rights of the Child</a> - composed of 18 human-rights experts - will assess the case. According to <a href="https://treaties.un.org/doc/source/signature/2012/CTC_4-11d.pdf">protocol</a>, that committee will submit its views and any recommendations to each named country. The countries are then supposed to submit a response within six months.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Radhika Chalasani/UNICEF</span></p><p class="caption">Alexandria Villaseñor, 14, from New York, speaks at a press conference announcing a collective action being taken on behalf of young people everywhere facing the impacts of the climate crisis on September 23, 2019 at UNICEF House in New York.</p></div><p></p></div></div></p><h2>Other young people have filed climate lawsuits across the globe</h2><p>This UN complaint is the latest in a string of legal actions taken by children in response to the climate crisis.</p><p>A group of 21 kids and teenagers <a href="https://www.businessinsider.com/kids-suing-government-for-climate-change-2016-11">sued the US government</a> in 2015, alleging that the government was violating their constitutional rights by contributing to climate change despite knowledge of its dangerous consequences. In that landmark case, known as Juliana v. United States, the plaintiffs say their generation has already suffered and will continue to suffer the consequences of climate change, including health problems, extreme weather, and water shortages.</p><p>Those 21 youth plaintiffs range in age from 12 to 23 and hail from 10 states. They <a href="https://www.businessinsider.com/climate-change-lawsuit-young-people-suing-government-2019-6">aren't asking for financial compensation</a>; instead, they want the court to compel federal agencies to end policies that directly harm the environment (like subsidizing fossil-fuel extraction) and mandate government action that will cut down greenhouse-gas emissions.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Andrea Willingham/Our Chidren's Trust</span></p><p class="caption">The youth plaintiffs in Juliana v. United States after a court hearing in Eugene, Oregon in March 2016.</p></div><p></p></div></div></p><p>The Obama and Trump administrations both attempted <a href="https://www.businessinsider.com/trump-landmark-climate-change-lawsuit-2017-6">to get the case thrown out</a> numerous times. In the latest attempt, three Ninth Circuit federal judges <a href="https://www.nytimes.com/2019/06/04/climate/climate-lawsuit-juliana.html">heard arguments</a> in June; those judges could decide to dismiss the case or allow it to go forward, though it's unclear when they will issue a decision.</p><p><a href="https://www.ourchildrenstrust.org/">Our Children's Trust</a>, the nonprofit behind the Juliana v. United States case, has also supported youth legal actions related to climate across all 50 US states.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Robin Loznak/Pool Photo/AP</span></p><p class="caption">Juliana v. United States plaintiffs Kelsey Juliana (right) and Vic Barrett (left) gather with other youth plaintiffs in a federal courthouse for a hearing in front of a panel of judges with the 9th Circuit Court of Appeals in Portland, Oregon on June 4, 2019.</p></div><p></p></div></div></p><p>In the Netherlands, meanwhile, an intergenerational environmental group won a lawsuit that led a court in the Hague to order the Dutch government to cut its greenhouse-gas emissions to 25% below 1990 levels by 2020.</p><p>Similarly, Colombia's Supreme Court <a href="https://www.dejusticia.org/en/en-fallo-historico-corte-suprema-concede-tutela-de-cambio-climatico-y-generaciones-futuras/">ruled in favor</a> of 25 young people and children last year, ordering the country's government to curb Amazon deforestation. And in 2016, the Supreme Court of Pakistan allowed Rabab Ali, who was 7 years old at the time, to proceed with a public-interest petition alleging that the government violated constitutional rights through its use of fossil fuels.</p><p>Other youth-led legal actions are underway in Belgium, Uganda, and the Philippines. Courts in India and Norway have dismissed such cases, though plaintiffs have stated intentions to appeal.</p><h2>French President Macron lashed out at Thunberg</h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Philippe Wojazer</span></p><p class="caption">French President Emmanuel Macron attends a <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> conference at the Elysee Palace in Paris, France December 10, 2017</p></div><p></p></div></div></p><p>If Thunberg and her peers' legal complaint is successful, it could compel the five named countries to cooperate with other UN member nations to reduce greenhouse-gas emissions. </p><p><a href="https://www.businessinsider.com/french-president-reacts-to-greta-thunbergs-climate-change-lawsuit-2019-9">President Emmanuel Macron of France</a>, one of the countries named in the complaint, <a href="https://www.europe1.fr/international/exclusif-emmanuel-macron-repond-a-greta-thunberg-je-nai-pas-le-sentiment-que-la-france-bloque-3921379">told Europe 1</a> that Thunberg's stance was "very radical" and was likely to "antagonize societies."</p><p>"All the movements of our youth - or our not-so-young - are helpful," Macron said. "But they must now focus on those who are furthest away, those who are seeking to block the way."</p><p>Macron added that he didn't think "the French government nor the German government, currently, were blocking the way."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/amazon-fires-rainforest-brazil-explained-big-deal-environment-2019-8">More than 74,000 fires have been recorded in Brazil this year. Here's why that's a big deal.</a></h3>        <div>                    </div>    </div>

Greta Thunberg and 15 other kids have filed a legal complaint against 5 countries, joining a growing group of young people bringing the climate fight to court

New Delhi, Jun 10 () The country's largest lender State Bank of India has invited applications from eligible candidates for the post of Chief Financial Officer (CFO) on contract basis at a salary package of Rs 1 crore, three times more than its chairman's. <p>As per the recruitment notice, the position is for a contract period of three years and the annual CTC (cost to company) and perks would be Rs 75 lakh to Rs 1 crore. </p><p>Interestingly, the salary of SBI chairman was Rs 29.5 lakh in 2018-19. </p><p>"Minimum 15 years' post qualification work experience (as on 01.04.2020) in overseeing financial operations, preferably accounting and taxation matters, in banks/ large corporates/ PSUs/ FIs/ financial services organizations, of which 10 years should be in bank or financial institutions (of which five years should be at senior management level)," it said. </p><p>This is for the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management. Earlier, the CFO used to be from the bank's senior management. </p><p>Currently, the CFO position is held by Chalasani Venkat Nageswar, a Deputy Managing Director of the bank. </p><p>Its past CFO Anshula Kant is now managing director and chief financial officer of the World Bank. As MD and CFO, Kant is responsible for financial and risk management of the World Bank Group. </p><p>Last month, one of SBI's deputy managing directors, Anil Kishora, was picked as vice-president of New Development Bank. </p><p>According to a senior bank official of a public sector bank, the government in the past tried to rope in private sector people to head large state-owned banks but it did not yield the desired result. </p>Besides, SBI has invited applications from eligible candidates for the post of Data Protection Officer. The bank has not specified the salary but said the CTC is not a limiting factor for a suitable candidate. DP MR

SBI invites applications for CFO post; offers annual package of Rs 1 cr

<keyword id="46212" type="General" weightage="20" keywordseo="suzlon-energy" source="Orion">Suzlon Energy</keyword> registered a 96% decline in consolidated net profit at ₹101 crore in the April-June quarter. The company had registered a consolidated net profit of ₹2,433 crore in the year-ago quarter, an investors' presentation showed. <br /><br /> The company's net revenue in the first quarter of this fiscal also came down to ₹ 1,348 crore from ₹ 1,378 crore in the year-ago period. <br /><br /> <keyword id="307072" type="General" weightage="20" keywordseo="girish-tanti" source="Orion">Girish Tanti</keyword>, vice-chairman, Suzlon Group, said in a statement, "With the country poised to lead decarbonisation of its economy, we are seeing renewed enthusiasm from India Inc. to drive this green energy transition." <br /><br /> J P Chalasani, chief executive officer, Suzlon Group, said in the statement, "At Suzlon, we continue to show stable and steady growth in line with our business plan. With the fruition of our initiatives to strengthen the balance sheet and reduce debt, our focus is now on ramping up our operations to service our cumulative orders, which stand at a healthy 1,582 MW as on date." <br /><br /> Himanshu Mody, chief financial officer, Suzlon Group, said in the statement, "Q1 of FY24 takes forward our consistent efforts to consolidate and stabilise our performance over the last few quarters. Q1 FY24 shows YoY (year-on-year) growth and an improvement in overall profitability with a steady performance on all our key parameters." <br /><br /> After a sustained effort to reduce debt in 2022-23, which has resulted in a healthier and sustainable balance sheet for the company, our focus in FY24 remains on funding our operations and fulfilling our commitments to customers and other stakeholders, he said. <br /><br /> "We continue to maintain strict control on costs and are in the process of further optimising our organisational structure to drive excellence and continual improvement on the strong foundation set with over the last three years," he added.

Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

Mumbai, The share of women investors in mutual funds has increased from 15 per cent in March 2017 to nearly 21 per cent in December 2023, according the latest data of Amfi (Association of Mutual Funds).  The overall asset under management in mutual funds crossed the Rs 50 lakh crore-mark in February this year as a large number of passive investors are flocking to mutual funds to save and earn more. <br /><br /> The Amfi data showed the share of women investors in mutual funds increased from 15 per cent in March 2017 to nearly 21 per cent in December 2023. <br /><br /> This pace of growth was more prominent in the hinterland versus the urban centres during the period. <br /><br /> The share of women folios and assets in B-30 cities has increased from 15 per cent to 18 per cent and from 17 per cent to 28 per cent, respectively, the data showed. <br /><br /> The report, prepared by <keyword id="19898320" type="General" weightage="20" keywordseo="crisil" source="keywords">Crisil</keyword> for Amfi and released by Sebi chairperson <keyword id="19922107" type="General" weightage="20" keywordseo="madhabi-puri-buch" source="keywords">Madhabi Puri Buch</keyword>, further said that almost 50 per cent of women investors fall in the 25-44 age group as against around 45 per cent for overall set of individual investors. <br /><br /> Goa boasts the highest share of women in the mutual fund industry at 40 per cent, followed by northeastern states with high 30s percentages. <keyword id="20911260" type="General" weightage="20" keywordseo="chandigarh-maharashtra" source="keywords">Chandigarh, Maharashtra</keyword>, and <keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword> also have over 30 per cent share of women in assets under management. <br /><br /> Most female MF investors continue to invest through the regular plan route and stay invested for longer when investing through a mutual fund distributor. <br /><br /> The number of women MF distributors has also increased and was near the 42,000-mark as of December 2023 with their total AUM (assets under management) of over Rs 1 lakh crore. <br /><br /> Releasing the report, Buch said women can lead and champion the right investment causes by leveraging their perspectives, advocating for inclusive decision-making processes, and fostering environments where diverse voices are heard and valued. <br /><br /> <keyword id="20911259" type="General" weightage="20" keywordseo="navneet-munot" source="keywords">Navneet Munot</keyword>, Amfi chairman, said the increasing participation of women in <keyword id="19975903" type="General" weightage="20" keywordseo="mfs" source="keywords">MFs</keyword> is a testament to their growing economic empowerment and greater financial literacy. <br /><br /> According to <keyword id="20111053" type="General" weightage="20" keywordseo="venkat-chalasani" source="keywords">Venkat Chalasani</keyword>, Amfi chief executive, increase in the number of women distributors shows their ability to make financial decisions for themselves and guide others reflecting a growing confidence and financial awareness among women.

Women investors' share in MFs grows from 15% in March 2017 to 21% in December 2023

The Indian mutual fund industry continued to register strong growth in fund inflows during May 2024, as monthly data released by the Association of Mutual Funds in India (AMFI) today showed. This was a record month for equity mutual funds, with the category’s inflows jumping up by a whopping 83% since April.<br /><br />The mutual fund industry’s AUM (net assets under management) stood at Rs 58.91 lakh crore, rising marginally from Rs 57.25 lakh crore in April 2024.<br /><br />With total inflows worth Rs 42,294.99 crore, debt mutual funds continued to receive more investor attention than their equity counterparts during the month, which saw inflows of around Rs 34,697 crore. Notably, this is the 39th consecutive month where <keyword id="19925781" type="General" weightage="100" keywordseo="equities" source="keywords">equities</keyword> have seen positive inflows. Hybrid funds also ended their month in green, garnering Rs 17,990 crore in May.<br /><cmsannotation type="cmsannotation" annotationid="Expectations around election results behind the surge, say experts" comment="subhead" text="Expectations around election results behind the surge, say experts"><span data-til="noop">Expectations around election results behind the surge, say experts</span></cmsannotation><br />Expectations around the continuation of a stable regime led by the ruling party BJP during the election month of May could have been the major driver behind the record inflows into the MFs.<br /><br />Venkat Chalasani, Chief Executive, AMFI, said "Political stability creates an environment conducive to sustainable economic growth, attracting investments and fostering long-term investments. Global growth is sustaining its momentum in 2024 and is likely to remain resilient, supported by a rebound in global trade. The overall outlook for Indian capital markets remains positive, supported by strong fundamentals, and favourable demographics.<br /><br />However, it remains to be seen how the lesser-than-expected seats for the Narendra Modi-led BJP have impacted the MF sector in the month of June. However, a continuation of the NDA regime is likely to have contributed to the improved market sentiments as evident with surging markets post the counting day, and could reflect into the MF activity as well.<br /><br />"Although coalition governments face challenges in consensus-building and decision-making, infrastructure and nation-first initiatives introduced earlier are likely to receive support from allies across the political spectrum. The forthcoming 100-day action plan and a comprehensive Union Budget will provide a clearer picture of the government's priorities for the Indian economy," says Gopal Kavalireddi, Vice President of Research at FYERS.<br /><cmsannotation type="cmsannotation" annotationid="Equity inflows mark a record high" comment="subhead" text="Equity inflows mark a record high"><span data-til="noop"><keyword id="421833" type="General" weightage="20" keywordseo="Equity-inflows" source="Orion">Equity inflows</keyword> mark a record high</span></cmsannotation><b><br /></b>Equity inflows remained positive for the 39th consecutive month, starting from March 2021. Growth Equity fund inflows for the month of May was ₹ 34,697, pushing the total inflows into mutual funds to Rs.1.1 lakh crore for the month. A total of 9 schemes were launched last month in the category of open-ended schemes, raising a total of ₹ 10,140 crores, said AMFI.<br /><br />Kavalireddi says, “Despite potential high volatility from FII selling, general elections, GDP data, and other minor events in May, investors remained steadfast in their pursuit of returns on the back of the Indian growth narrative."<br /><br />In a clear indication of investors looking to diversify their investments, multi-cap funds garnered Rs 2,644.88 crore. Large-cap funds amassed Rs 663 crore, while mid-cap funds made Rs 2,605.70 crore. On the other hand, small-cap funds have seemingly begun gaining their lost sheen, managing to take in Rs 2,724.67 crores during the month. Flexi-cap funds led the troupe, with inflows worth Rs 3,155 crore.<br /><br />"Equity flows have been largely driven by expectations of the election outcome, coupled with some NFO (new fund offer) launches, which perhaps led to a much higher than expected quantum in the equity category. On the equity side, investors possibly wanted to position their portfolios in advance to avoid any kind of gap risk as election exit polls were coming out over the weekend, which could have led to a spike in equity allocations towards the end of the month," Anand Vardarajan, Head Business Head – Banking, Institutional Clients, Alternate Products and Product Strategy, Tata Asset Management.<br /><br />Amidst hybrid funds, the majority came from arbitrage funds, which saw inflows worth Rs 12,758.12 crores in May. Notably, index funds and other ETFs collectively raked in Rs. 15,180 crore.<br /><cmsannotation type="cmsannotation" annotationid="SIPs going strong" comment="subhead" text="SIPs going strong"><span data-til="noop"><keyword id="159805" type="General" weightage="20" keywordseo="SIPs" source="Orion">SIPs</keyword> going strong</span></cmsannotation><b><br /></b>Systematic investment plan (SIP) contributions continued to breach their record highs on a month-on-month basis. SIP contributions rose marginally to an all-time high of Rs 20.90 crore last month, as opposed to Rs 20.37 crore in April. SIP accounts also jumped to their highest figure in May, standing at 8,75,89,485. During the month, around 49,74,400 new SIPs were registered. As per <keyword id="1029773" type="General" weightage="20" keywordseo="AMFI-data" source="Orion">AMFI data</keyword>, SIP plans accounted for 19% of the net flows during the month.<br /><br />In the debt category, liquid funds saw the most influx, worth Rs 25,873.38 crore. Sectoral or thematic funds amassed Rs 19,213.43 crore during the month, trumping inflows by small-cap funds, which stood at Rs 2,724.67 crore, by a significant margin. Inflows into thematic funds were largely bolstered by the NFO of HDFC Manufacturing Fund, which drew Rs. 9,563 crores.<br /><br />Although Himanshu Srivastava, Associate Director, Manager Research, Morningstar Investment Research India, has a word of caution for all those flocking to sectoral funds, “investors must be cautious while investing in such funds. They are cyclical, and hence investors should have the necessary skills or the right set of advice in place to track sector dynamics and time their entry and exit from these funds. These are high-risk return propositions, and hence investors must take a judicious call while investing in them.”<br /><cmsannotation type="cmsannotation" annotationid="Gold continues to shine" comment="subhead" text="Gold continues to shine"><span data-til="noop">Gold continues to shine</span></cmsannotation><b><br /></b>The quantum of net flows in <keyword id="20050894" type="General" weightage="20" keywordseo="gold-ETFs" source="keywords">gold ETFs</keyword> saw a sharp uptick to Rs 827 crore in May 2024, from a net outflow of Rs 396 crore in April.<br /><br />Srivastava further notes that the enduring <keyword id="19950651" type="General" weightage="20" keywordseo="global-inflation" source="keywords">global inflation</keyword>, which remains above central banks' comfort levels, and the persistent uncertainty surrounding <keyword id="19962135" type="General" weightage="20" keywordseo="interest-rate-cuts" source="keywords">interest rate cuts</keyword> have bolstered gold's appeal as a haven and as a hedge against inflation, thereby attracting more investors.<br /><br />“Also, over the years, gold has gained prominence as an effective diversifier, prompting many investors to include gold ETFs in their portfolios. <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">Gold prices</keyword> also saw some corrections in May, which spurred buying from investors. In INR terms, gold has done fairly well over the last year but dwarfs in comparison to how equities have fared. Given this backdrop, flows in the gold ETF category have been somewhat patchy relative to the equity asset class," he continued.<br /><br /><em>Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.</em><br />

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Suzlon board appoints J P Chalasani as Chief Executive Officer

PTI

Chalasani Venkat Nageswar gets additional charge of DMD, CFO of SBI

PTI

Greta Thunberg and 15 other kids have filed a legal complaint against 5 countries, joining a growing group of young people bringing the climate fight to court

Aylin Woodward,Morgan McFall-…

SBI invites applications for CFO post; offers annual package of Rs 1 cr

PTI

Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

PTI

Women investors' share in MFs grows from 15% in March 2017 to 21% in December 2023

PTI

Election fever? Equities and SIP inflows mark record highs in May, per AMFI data

BI India Bureau

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