AIG Mutual Fund Announce AIG India Equity Fund Time Periods - July 10, 2009

Background: AIG Global Investment Group (AIGGIG) is a worldwide leader in asset management, with extensive capabilities in equity, fixed income, hedge funds, private equity and real estate. AIG Global Asset Management Company (India) a member company of AIG Global Investment Group manages assets worth Rs 1547.88 crore as on June 2009.

AIG India Equity Fund (G) an open-ended equity diversified fund launched in May 2007. The objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 8.68 per unit as on 9 July 2009.

Portfolio: The total net assets of the scheme decreased by Rs 13.21 crore to Rs 488.61 crore in June 2009.

AIG India Equity Fund (G) took fresh exposure to twenty stocks in May 2009. The scheme has purchased 2.96 lakh units (5.93%) of Container Corporation of India, 1.03 lakh units (3.75%) of Infosys Technologies, 1.44 lakh units (3.54%) of Glaxosmithkline Pharma and 4.22 units (3.49%) of Thermax among others.

The scheme exited completely from Reliance Industries by selling 1.79 lakh units (8.15%), Housing Development Finance Corporation by selling 1.24 lakh units (5.43%), Oil & Natural Gas Corporation by selling 1.98 lakh units (4.66%) and HDFC Bank by selling 1.50 lakh units (4.32%) among others in May 2009.

Sector-wise, the scheme took fresh exposure to Computers-Software-Large at 3.75%, Pharmaceuticals-Multinational at 3.54%, Engineering at 3.49% and Diversified-Large at 1.93% among others in May 2009.

Sector-wise, the scheme did exit completely from Refineries at 8.15%, Finance-Housing at 5.43%, Oil Drilling/Allied Services at 4.66% and Banks-Private Sector at 4.32% among others in May 2009.

The scheme had highest exposure to Shree Cement with 2.90 lakh units (7.05% of portfolio size) followed by Bharti Airtel with 4.20 lakh units (6.90%), State Bank of India with 1.75 lakh units (6.25%) and Hero Honda Motors with 2.00 lakh units (5.75%) among others in May 2009.

It reduced its exposure from Bharat Heavy Electricals by selling 35220 units to 1.05 lakh units (by 1.34%), HCL Infosystems by selling 5.48 lakh units to 2.57 lakh units (1.26%), ITC by selling 3.48 lakh units to 11.51 lakh units (1.00%) and CESC by selling 799 units to 3.50 units (1.03%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Banks-Public Sector at 18.31% (from 10.07% in April 2009), followed by Cement-North India at 7.05% (2.55%), Telecommunications-Service Provider at 6.90% (4.91%) and Automobiles-Motorcycles/Mopeds at 5.75% (2.40%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Pharmaceuticals-Indian-Bulk Drugs & Formulation to 1.61% (by 2.68%), Electric Equipment to 4.74% (by 1.34%), Computers-Hardware to 0.61% (by 1.87%) and Cigarettes to 4.49% (by 1.00%) among others in May 2009.

Performance: The performance of scheme is benchmarked against BSE 100. The scheme has outperformed the benchmark index over all the time periods.

The scheme has posted negative returns of 2.54% outperforming the BSE 100 that declined 8.57% over 1 month period ended 09 July 2009.

Over 3 months period, the scheme advanced by 34.02% outperforming the BSE 100 that gained 30.93%. It rose by 4.91% outperforming the benchmark index that was down by 0.94% over 1 year period.

DSP Blackrock Mutual Fund Floats On World Energy Fund - July 10, 2009

DSP BlackRock Mutual Fund has launched DSP BlackRock World Energy Fund. It is an open ended fund of funds. The face value of the new issue will be Rs 10 per unit. The new issue will be opened for subscription from 10 July-31 July 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 30 August 2009.

The primary investment objective of the scheme is to seek capital appreciation by investing predominantly in the units of BlackRock Global Funds-World Energy Fund and BlackRock Global Funds-New Energy Fund.

The scheme may, at the discretion of the investment manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus.

The scheme may also invest a certain portion of its corpus in money market securities and/or money market/liquid schemes of DSP BlackRock Mutual Fund, in order to meet liquidity requirements from time to time.

Investment option: The scheme offers two plans viz. regular and institutional plan with growth and dividend option. The dividend option further offers dividend payout and dividend reinvest facility.

Minimum application amount: The minimum investment amount under regular plan will be Rs 5000 and in multiples of Re 1 thereafter and under institutional plan will be Rs 5 crore and in multiples of Re 1 thereafter. The scheme seeks to collect a minimum subscription amount of Rs 1 crore during NFO period.

Asset allocation: The scheme will invest 50-100% in units of BlackRock Global Funds (BGF)-World Energy Fund (WEF) or other similar overseas mutual fund scheme(s) with high risk profile.

It will invest 0- 30% in units of BlackRock Global Funds (BGF)-New Energy Fund (NEF) or other similar overseas mutual fund scheme(s) with high risk profile (in the shares of BGF-WEF and BGF-NEF, an Undertaking for Collective Investment in Transferable Securities (UCITS) III fund).

It will also invest 0-20% in money market securities and/or units of money market/liquid schemes of DSP BlackRock Mutual Fund with low to medium risk.

Load structure: Regular Plan: Entry load: The scheme will levy an entry load of 2.25% for investments less than Rs. 5 crore of the initial value of Rs. 10 during NFO/applicable NAV during continuous offer.

For investments of Rs. 5 crore and above, no entry load will be charged. No entry load on direct applications, i.e. applications not routed through a distributor/agent/broker.

Exit load: 1% will be the exit load for holding period less than 6 months from the date of allotment. 0.50% exit load for holding period more than 6 months but less than 12 months from the date of allotment. While no exit load will be levied for holding period more than 12 months.

Institutional Plan: There will be no entry load and exit load.

Benchmark index: 70% MSCI World Energy (Net) and 30% MSCI World (Net).

Fund Manager: Vinit Sambre will be fund manager for the scheme.

Canara Robeco Mutual Fund Changes Announces - July 10, 2009

Canara Robeco Mutual Fund has proposed to change/add sub options under dividend option of Canara Robeco Short Term Fund with effect from 15 July 2009 as under:

Retail plan: Existing Growth and dividend (payout facility and reinvestment facility as sub option).

Revised: Growth and dividend (introduction of weekly dividend option with dividend every Wednesday of the week and reinvestment facility as sub options).

Conversion of existing dividend option to monthly dividend option with payout facility at last Wednesday of the month and reinvestment facility as sub options.

Institutional plan: Existing Growth and dividend (payout facility and reinvestment facility as sub option).

Revised: Growth and dividend (introduction of weekly dividend option with dividend every Wednesday of the week and reinvestment facility as sub options).

Conversion of existing dividend option to monthly dividend option with payout facility at last Wednesday of the month and reinvestment facility as sub options.

The investment objective of Canara Robeco Short Term Fund is to generate income from a portfolio constituted of short to medium term debt and money market securities.

Reliance MF Declares Surplus For Monthly Interval Fund - July 09, 2009

Reliance Mutual Fund has declared dividend under dividend option of Reliance Interval Fund – Monthly Interval Fund -Series I. The record date for the dividend is 14 July 2009. The fund house has decided to offer dividend on the face value of Rs 10 per unit for both plans viz. retail and institutional plans. The quantum of dividend will be 100% of distributable surplus as on the record date.

The NAV for the scheme under retail plan was Rs 10.0341 per unit and under institutional plan was Rs 10.0288 per unit as on 07 July 2009.

Reliance Interval Fund–Monthly Interval Fund, is a debt oriented interval scheme with an investment objective to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility.

UTI Mutual Fund Revises Shipment Composition - July 09, 2009

UTI Mutual Fund has revised load structure for UTI Mahila Unit Scheme with effect from 6 July 2009. The changes are, Revised Structure: Entry load (as % of NAV): 1.50%, Exit load (as % of NAV): 3% if exited before 1 year. 2% if exited on or after 1 year but before 2 years and 1% exit load if exited on or after 2 years.

The existing structure: Entry load (as % of NAV): 1.50%, Exit load (as % of NAV): 0.75% if exited within 1 year.

UTI Mahila Unit Scheme is an open ended debt oriented scheme with an investment objective to invest in a portfolio of equity/equity related securities and debt and money market instruments with a view to generate reasonable income with moderate capital appreciation.

ING Mutual Fund Declare Contra Fund Of Outperforms - June 09, 2009

Background: The ING Group established its presence in India in 1992, when it opened a representative office of the ING Bank. It opened its first branch in Mumbai in 1994. ING Group has promoted ING Investment Management (India) Private Limited as a company incorporated in India for the purpose of carrying on asset management activities.

The group has a 75% holding in this company. The fund house manages assets worth Rs. 2396.77 crore at the end of June 2009.

ING Contra Fund (G) an open-ended equity scheme launched in January 2006. The objective of the scheme to generate capital appreciation from a diversified portfolio of equity and equity related instruments by investing in stocks of companies, which are fundamentally sound but are undervalued.

However, there can be no assurance that the investment objective of the Scheme will be achieved.

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 12.07 per unit as on 8 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 0.95 crore to Rs 11.24 crore in June 2009.

ING Contra Fund (G) took fresh exposure to two stocks in May 2009. The scheme has purchased 38827 units (2.48%) of Indian Hotels Company, 6018 units (2.05%) of CESC

The scheme exited completely from Jain Irrigation Systems by selling 2406 units (1.64%) in May 2009.

Sector-wise, the scheme took fresh exposure to Hotels at 2.48% in May 2009. Sector-wise, the scheme did exit completely from Plastics Products at 1.64% in May 2009.

The scheme had highest exposure to Reliance Industries with 2992 units (6.62% of portfolio size) followed by ICICI Bank with 4996 units (3.60%), Indian Oil Corporation with 5872 units (3.48%) and Ranbaxy Laboratories with 12005 units (3.25%) among others in May 2009.

It reduced its exposure from Tata Power Company by selling 1310 units to 2000 units (by 1.96%), Bajaj Auto by selling 1799 units to 1810 units (1.34%), Larsen & Toubro to 1102 units (1.17%) and Chambal Fertilisers & Chemicals by selling 18045 units to 24000 units (1.03%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Refineries at 15.93% (from 15.58% in April 2009), followed by Banks-Private Sector at 6.47% (6.57%), Banks-Public Sector at 6.30% (6.31%) and Computers-Software-Medium/Small at 5.17% (3.09%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Automobiles-Scooters and 3-Wheelers to 1.81% (by 1.34%), Fertilizers to 3.59% (by 1.27%), Engineering-Turnkey Services to 1.23% (by 1.17%) and Sugar to 0.93% (by 0.98%) among others in May 2009.

Performance: The performance of scheme is benchmarked against BSE 100. The scheme has outperformed the benchmark index over most of the time periods.

The scheme has posted negative returns of 7.01% underperformed the BSE 100 that declined 5.88% over 1 month period ended 08 July 2009. Over 3 months period, the scheme advanced by 39.86% outperformed the BSE 100 that gained 31.47%. It rose by 13.44% outperforming the benchmark index that was up by 3.36% over 1 year period.

Franklin Templeton Mutual Fund Files An Offer Article With Sebi - July 08, 2009

Name of Fund: Templeton India Income Opportunities Fund, Scheme: An open ended Income Fund, Investment Objective: To provide regular income and capital appreciation by investing in fixed income securities across the yield curve. Investment Options: The scheme will offer growth and dividend plan (with reinvestment and payout options).

Where the unitholder has opted for dividend payout option and in case the amount of dividend payable to the unitholder is Rs 20 or less, the same will be compulsorily reinvested in the scheme.

Asset Allocation: The scheme will invest upto 100% in government securities and/or securities unconditionally guaranteed by central/state government for repayment of principal and interest.

Upto 100% in debt securities issued by public sector undertakings (PSU). Upto 100% in debt securities issued by private sector corporate including banks and financial institutions. Upto 100% in securitized debt and upto 100% in money market instruments.

NFO price: Rs 10 per unit, Load structure: The scheme will not charge any entry load. But will charge an exit load up to 7%.

Minimum Investment Amount: The minimum investment amount is Rs 5000 and additional purchase in multiples of Re 1 thereafter.

Minimum Target amount: The fund seeks to collect a minimum targeted amount of Rs 1 crore during NFO.

Benchmark Index: Crisil Short Term Bond Fund Index. Fund Managers: Vivek Ahuja ans Sachin Padwal-Desai will manage the fund.

IDFC Mutual Fund Offer Dividend In Arbitrage Fund - July 08, 2009

IDFC Mutual Fund has approved to declare dividend in the dividend option of IDFC Arbitrage Fund (IDFC- AF)-Plan A and Plan B. The fund house has decided to distribute Rs 0.04 per unit as dividend on the record date of 13 July 2009. The scheme recorded NAV of Rs 10.2946 per unit for plan A and Rs 10.4397 per unit for plan B as on 6 July 2009.

IDFC Arbitrage Fund was launched in November 2006. The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments.