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Investors procrastinate with their equity-linked savings scheme, or ELSS, investments. They would be better off buying periodically with an SIP or if lock-in is a big concern then buying in the first quarter of a financial year. But the data suggests most wait until the last quarter of a financial year and then invest as a lump sum.

Gold prices touched an all-time high in India this week, while global prices hover around a seven-year high. Three of the top five best-performing funds this week were gold funds. The investment demand for gold continues to grow. We have written about investing in gold as a macroeconomic hedge here.

Moody's Investors Service cut India's 2020 GDP growth forecast to 5.4 percent on February 16. The credit rating agency also trimmed its 2021 GDP forecast to 5.8 percent from 6.7 percent. The cut in growth forecast comes amidst coronavirus outbreak which, according to Moody, could hurt India's economic recovery. Meanwhile, in a review meeting of the finance ministry, Nirmala Sitharaman said that the government will soon announce measures to deal with the impact of the coronavirus outbreak on the domestic industry and the economy.

Discount broker Zerodha is looking to enter the Rs 27-trillion mutual fund industry, with the firm putting in its application for AMC license with the Securities and Exchange Board of India (Sebi). AMC applications of other players like Srei Infrastructure Finance and Frontline Capital Services are under process. More recently, Sebi gave an in-principle approval for mutual fund license to broking player Samco Securities and NJ India.

Movers and shakers

1. Principal Mutual Fund announced that Lalit Vij has ceased to be the managing director of the company, with effect from February 14, 2020.

2. Nippon India Mutual Fund announced the creation of segregated portfolio of securities of Vodafone Idea Limited (VIL) held in three schemes with effect from February 17, 2020:

Nippon India Strategic Debt Fund

Nippon India Credit Risk Fund

Nippon India Hybrid Bond Fund

3. UTI Mutual Fund announced the creation of a segregated portfolio of securities of Vodafone Idea Limited (VIL) held in five schemes with effect from February 17, 2020:

UTI Credit Risk Fund

UTI Bond Fund

UTI Regular Savings Fund

UTI Dynamic Bond Fund

UTI Medium Term Fund

Quote of the week

Anon: A fine is a tax for doing something wrong. A tax is a fine for doing something right.Gaurav Rastogi is the CEO of Kuvera.in: India’s first completely free direct mutual fund investing platform.

Read his columns here.