Equity mutual funds experienced a dip in inflows during May, falling to ₹19,013 crore as investors turned cautious amid high stock valuations. Despite this, SIP investments reached a record ₹26,688 crore. Debt funds saw outflows, while hybrid funds, particularly arbitrage funds, gained traction. Overall AUM for the mutual fund industry increased, driven by market gains.
Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh
The Justice Department has concluded its investigation into Federal Reserve chair Jerome Powell. This decision removes a significant obstacle to the confirmation of Kevin Warsh,