Tata MF Files Another Offer

Name of Fund: Tata Fixed Horizon Fund Series 18 Schemes A, B, C and D
Scheme: It is a close-ended debt scheme.

Objective: The investment objective of the scheme is to seek to generate income and / or capital appreciation by investing in wide range of Debt and Money Market instruments..

Plans: Each Scheme has two plans Regular Plan and Institutional Plan

Investment Options: Scheme A, B, C and D (13 months maturity):

Growth Option and Dividend option offers dividend payout or dividend re-investment facility.

Periodic Dividend - Atleast once during the tenure of the scheme at the discretion of the trustees from time to time, subject to availability of distributable surplus.

Monthly Dividend - Atleast once a month at discretion of the trustees from time to time, subject to availability of distributable surplus.

Duration of the Schemes: Scheme A, B, C and D - 13 months from the date of allotment.Each Scheme will be considered as fresh subscription as and when it is launched.

Asset Allocation: The fund will invest 100% in Debt and Money Market instruments and Securitized Debt. No investments would be made in foreign securitised debt. The scheme may invest upto a maximum of 50% of the scheme’s net assets in domestic securitised debt.

Face Value: Rs 10

Load structure:

Scheme A and B (13 months maturity):Entry Load: Nil

Exit Load: 0.25% if redeemed on or before 1 month from the date of allotment. Nil if redeemed after 1 month from the date of allotment.

Scheme C and D (13 months maturity):Entry Load: Nil

Exit Load: 1% if redeemed before maturity. As per SEBI specified limits; the repurchase price shall not be lower than 95 % of the NAV.

Application Amount:

Regular Plan: Dividend Option: Rs. 10,000 and in Multiple of Re. 1 thereafter

Growth Option: Rs. 10,000 and in Multiple of Re. 1 thereafter

Institutional Plan: Dividend Option: Rs. 1,00,00,000 and in Multiple of Re.1 thereafter.

Growth Option: Rs. 1,00,00,000 and in Multiple of Re. 1 thereafter

Target Amount: Minimum target amount Rs. 10 crore for each scheme.

Benchmark: Scheme A, B, C and D - Crisil Liquid Fund Index

Birla MF Declares Dividend

Birla Mutual Fund has declared dividend under Birla Fixed Term Plan-Series V. The fund house has announced 2 May 2008 as the record date for distribution of dividend under Retail Plan-Dividend and Institutional Plan-Dividend in the scheme.

The scheme will distribute 100% distributable surplus as dividend on the record date on the face value of Rs 10 per unit. The scheme recorded NAV of Rs 10.9965 (Retail Plan) and Rs 11.0348 (institutional Plan) per unit as on 25 April 2008.

All unit holders whose name appears in the register of unitholders of the schemeas at the close of business hours on the record date shall be eligible to receive the dividend so declared. After payment of dividend, the NAV will fall to the extent of the payout and statutory levy, if any.

HSBC MF Plan Raises 65 Crore

HSBC Mutual Fund has collected around Rs 65 crore through its HSBC Fixed Term Series-51 six month plan; during its single day initial offer on 23 April 2008. the close ended income scheme will deploy its entire corpus in fixed income securities.

Birla MF Revises Load Structure

Birla Mutual Fund has revised the load structure of Birla Dynamic Bond Fund, an open ended income scheme. With effect from 28 April 2008, the scheme will charge an exit load of 0.20% of applicable NAV for units redeemed/switched out within 30 days from the date of allotment. Earlier the scheme charged an exit load of 2.00% of applicable NAV for units redeemed/switched out within 180 days from the date of allotment. The revised load structure will be applicable to all investments made on or after 28 April 2008.

Mirae Asset MF Files An Offer Document

Mirae Asset MF plans to launch Mirae Asset Global Commodity Stocks Fund and it is an Open ended equity fund. The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that benefit either directly or indirectly from commodity price movements, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets.

The investors will have the choice of two options viz. Dividend Option and Growth Option. Dividend Option shall have the choice of dividend payout, dividend reinvestment and dividend transfer options. Systematic Investment Plan (SIP) / Systematic Withdrawal Plan (SWP) / Systematic Transfer Plan (STP) will be available in the Scheme.

ABN Amro MF Files An Offer Document

ABN Amro MF is planning to launch ABN Amro Fixed Term Plan -Series 12 and it is a close-ended income scheme, which will have 3 plans. Each plan would comprise of securities normally maturing in line with the scheme. The scheme will have following plans namely: ABN Amro Fixed Term Plan -Series 12-Plan A, ABN Amro Fixed Term Plan -Series 12-Plan B and ABN Amro Fixed Term Plan -Series 12-Plan C. The Investment objective of the Plans under the Scheme would be to achieve growth of capital through investments made in a basket of fixed income securities in line with the duration of Plans under the Scheme.

ING MF Files An Offer Document

ING MF is looking at unveiling a fund called ING Fixed Maturity Fund - Series 47-50 and it is a close-ended bond scheme. A close-ended scheme investing in a portfolio of government securities or highly rated corporate bonds maturing close to the maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The scheme will invest in debt securities with maturity coinciding closely with the maturity of the scheme, so as to minimise the impact of price fluctuation of such securities and the value at maturity.

ICICI Pru In Outsourcing Deal

In a unique deal, ICICI Prudential AMC has outsourced its fund administration for over 100 schemes to HSBC Securities Services. With an AUM of Rs 54321.87 crore as of 31 March 2008, this is the largest and most complex third party outsourcing project ever undertaken in Indian fund industry.

Birla MF Revises Load Structure

Birla Mutual Fund has revised the load structure of Birla Dynamic Bond Fund, an open ended income scheme. With effect from 28 April 2008, the scheme will charge an exit load of 0.20% of applicable NAV for units redeemed/switched out within 30 days from the date of allotment. Earlier the scheme charged an exit load of 2.00% of applicable NAV for units redeemed/switched out within 180 days from the date of allotment.

However there is no change in entry load. As earlier the entry load in the scheme is nil.

The revised load structure will be applicable to all investments made on or after 28 April 2008.

HSBC MF Plan Raises 65 Crore

HSBC Mutual Fund has collected around Rs 65 crore through its HSBC Fixed Term Series-51 six month plan; during its single day initial offer on 23 April 2008. the close ended income scheme will deploy its entire corpus in fixed income securities.

ICICI Pru In Outsourcing Deal

In a unique deal, ICICI Prudential AMC has outsourced its fund administration for over 100 schemes to HSBC Securities Services. With an AUM of Rs 54321.87 crore as of 31 March 2008, this is the largest and most complex third party outsourcing project ever undertaken in Indian fund industry.

Franklin Templeton MF Declares Dividend

Franklin Templeton Mutual Fund (MF) announced to declare dividend, under the dividend option of Templeton Fixed Horizon Fund - Series I-15 Months Plan (TFHF-SI-15 M). The fund house has fixed 29 April 2008 as the record date for the declaration of dividend. It will declare the entire distributable surplus available on the record date, as dividend. Pursuant to payment of dividend, the NAV will fall to the extent of dividend payout and statutory levy, if applicable. All unit holders registered on or before the record date will be eligible to receive the dividend.

HSBC Named Fund Administrator For ICICI Pru AMC

MUMBAI: ICICI Prudential Asset Management Company has outsourced its fund administration for over 100 schemes to HSBC Securities Services. With assets under management of Rs 54,321.87 crore as of March 31, this is the largest and most complex third party outsourcing project ever undertaken in the Indian funds industry. The successful implementation of this initiative demonstrates our ability to infuse in customisation of global solutions for the Indian market.

HDFC MF Declares Dividend

HDFC Mutual Fund has approved the declaration of dividend under the HDFC Fixed Maturity Plan 18M October 2006-retail and wholesale plan and HDFC Fixed Maturity Plan 367D April 2007-retail and wholesale plans. The record date is set as 28 April 2008.

SBI MF Revises Load Structure Of Magnum Index Fund

SBI Mutual Fund has revised the load structure of Magnum index Fund. At present the scheme charges an entry load of 1.25% if the amount invested is less than Rs 5 million. No entry load is charged on the investment above Rs 5 million. As per the revision, from 28 April 2008, the scheme will charge an entry load of 0.50% on the investment less than Rs 5 million. No entry load is charged on the investment above Rs 5 million. The above changes will be applicable to the investors who invest in the above scheme with effect from 28 April 2008 and not to the existing investors on the amount already invested by them.

SBI MF Declares Dividend

SBI Mutual Fund has announced dividend under dividend option of SBI Debt Fund Series-13 Months-4. The fund house has fixed 100% of distributable surplus as quantum of dividend. The record date for dividend is 28 April 2008. Pursuant to payment of dividend, the NAV of the scheme/option would fall to the extent of payout and statutory levy, if applicable. The scheme recorded NAV of Rs 10.4256 per unit as on 16 April 2008.

SBI MF Revises Asset Allocation Structure Of Magnum Midcap

SBI Mutual Fund has revised the asset allocation of SBI Magnum Midcap Fund. As per the revision, the fund house has increased the investment limit in the stocks other than the midcaps companies from the present 10% to 20%. Further the fund house has announced that the investors who do not agree with the change in the scheme can redeem their units without any exit load from 1 May 2008 to 30 May 2008. All the other features and conditions of the scheme remains unchanged.

HDFC MF Declares Dividend

HDFC Mutual Fund has approved the declaration of dividend under the HDFC Fixed Maturity Plan 18M October 2006-retail and wholesale plan and HDFC Fixed Maturity Plan 367D April 2007-retail and wholesale plans.

Reliance MF Declares Dividend

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Interval Fund - Monthly Interval Fund - Series II under both retail and institutional plan. The record date is set as 28 April 2008. The fund house has decided to distribute 100% of surplus available under both plans as on record date. The NAV for the scheme under retail plan was Rs. 10.0574 and that of institutional plan was Rs. 10.0573 as on 21 April 2008. Reliance Interval Fund Monthly Interval Fund - Series II is a debt oriented interval scheme. The investment objective of the scheme is to generate regular returns and growth 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.

DSP Merrill Lynch MF Declares NFO Period

DSP Merrill Lynch Mutual Fund has announced that the New Fund Offer (NFO) period of DSP Merrill Lynch FMP 3M Series 8, a closed ended income scheme, with a maturity profile of three months from the date of allotment will be from the commencement of banking hours on 22 April 2008 to close of the banking hours on 29 April 2008. The investment objective of the scheme is to seek capital appreciation by investing in portfolio of debt and money market securities. It is envisaged that the portfolio will display a maturity profile that is generally in line with the term of the scheme.

HDFC MF Declares NFO Period

HDFC Mutual Fund has announced that the New Fund Offer (NFO) period of HDFC FMP 90D April 2008 and HDFC FMP 18M April 2008 (2), fixed maturity plans under HDFC Fixed Maturity Plans-Series VII, a closed ended income scheme, will open for subscription on 24 April 2008 and close for subscription on 28 April 2008. The investment objective of the plans under the scheme is to generate regular income through investments in Debt/Money Market Instruments and Government Securities.

Mutual Funds In Buying Mode

Mutual funds (MFs) bought shares worth a net Rs 99.60 crore on Monday 21 April 2008 compared to their selling of Rs 86.30 crore on Thursday, 17 April 2008. MFs' net inflow of Rs 99.60 crore on Monday 21 April 2008 was a result of gross purchases Rs 734.80 crore and gross sales Rs 635.20 crore. Sensex was up 258.13 points or 1.57% at 16,739.33 on that day. MFs were net buyers of shares worth Rs 21.09 crore in this month, till 21 April 2008.

Bajaj Financial Service Plans Foray Into AMC Business

The new financial services arm of the Rahul Bajaj group, Bajaj Financial Service (BFL), plans to foray into asset management business and set up a company to distribute financial services products. The details of the distribution company will be finalized by December. The company is also open for joining hands with foreign group for the mutual fund business.

ING L.I.O.N. Merged Into ING Core Equity

ING Mutual Fund has announced the merger of ING L.I.O.N. Fund with ING Core Equity Fund due to their similar investment characteristics.

The Bonus option of the L.I.O.N. Fund will be merged into its Growth option and subsequently respective options of this fund will be merged with those of ING Core Equity Fund. Investment objective and the asset allocation pattern of the Core Equity Fund will remain the same.

Investors who do not approve of the merger may exit from these funds between 24 April 2008 and 23 May 2008 without paying any exit load.

Bajaj Financial Service Plans Foray Into AMC Business

The new financial services arm of the Rahul Bajaj group, Bajaj Financial Service (BFL), plans to foray into asset management business and set up a company to distribute financial services products.

The details of the distribution company will be finalized by December. The company is also open for joining hands with foreign group for the mutual fund business.

Edelweiss MF Expected To Launch In June

Edelweiss is planning to launch its mutual fund business by June this year. The financial services company would start with an authorised capital of Rs 25 crore.

“We are waiting for the final approval from the Securities and Exchange Board of India (Sebi) and hopefully it would be operational by the end of this quarter in June,” said Edelweiss Chairman and Chief Executive Officer Rashesh Shah.

To begin with the company is planning a slew of new innovative products such as specific-segmented funds targeted at high networth investors (HNIs) and education sector.

“The mutual fund market has become very segmented and we would be focusing on innovative customer-specific products, targeted at the desired section of the population,” he said. The mutual fund portfolio would also include structure funds and concentrated equity funds. According to Shah, the structured products exposure in the portfolio of the HNIs is on the rise.

Anurag Mehrotra, the head of the wealth management at Edelweiss, said that at present structured products constituted not more than 10-15 per cent of portfolio of (HNI) investors.

However, the exposure of structured products would increase by 30 per cent as it could generate returns under wide a range of conditions, he added.

Also, the popularity of alternative investment options such as art and coins is also increasing among HNIs, who are willing to invest over a long period of time.

“We would also have standard products such as liquid, debt and diversified equity funds and, for the first year, we would be launching around 8-10 funds,” Shah said.

HDFC MF declares NFO period

HDFC Mutual Fund has announced that the New Fund Offer (NFO) period of HDFC FMP 90D April 2008 and HDFC FMP 18M April 2008 (2), fixed maturity plans under HDFC Fixed Maturity Plans-Series VII, a closed ended income scheme, will open for subscription on 24 April 2008 and close for subscription on 28 April 2008.

The investment objective of the plans under the scheme is to generate regular income through investments in Debt/Money Market Instruments and Government Securities.

DSP Merrill Lynch MF Declares NFO Period

DSP Merrill Lynch Mutual Fund has announced that the New Fund Offer (NFO) period of DSP Merrill Lynch FMP 3M Series 8, a closed ended income scheme, with a maturity profile of three months from the date of allotment will be from the commencement of banking hours on 22 April 2008 to close of the banking hours on 29 April 2008.

The investment objective of the scheme is to seek capital appreciation by investing in portfolio of debt and money market securities. It is envisaged that the portfolio will display a maturity profile that is generally in line with the term of the scheme.

ICICI Prudential AMC Unveils Focused Equity Fund

Kolkata: ICICI Prudential on April 19 unveiled a new financial product, 'Focused Equity fund', aiming the large cap stocks of about 20 companies. ICICI Prudential AMC said that the fund will pick from the top 200 companies in terms of market capitalisation listed on the National Stock Exchange. The fund will infuse in stocks of companies which are profitable and leaders in the industry and have experienced rapid growth and have superior management skills.

ING MF Changes In Optimix Active Short Term Fund

ING Mutual Fund has approved changes in investment plan and exit load of OptiMix Active Short Term Fund, an open ended Fund of Funds. The changes are to be effective from 21 April 2008. The primary objective of the Scheme is to generate returns from a portfolio of debt funds (the average maturity period of the portfolio of these funds would be up to 18 months), accessed through the diverse investment styles of underlying schemes selected in accordance with the OptiMix Multi Manager Investment process. The AMC introduces institutional plan under OptiMix Active Short Term Fund and the existing scheme would be termed as retail plan. Consequently, the scheme shall have two plans viz. retail and institutional. There shall be two sub options under both the plans-growth and dividend payout and reinvestment option.

Sundaram BNP Paribus MF Launches Select Thematic Funds Entertainment Opportunities

Sundaram BNP Paribus Mutual Fund launched Sundaram BNP Paribas Select Select Thematic Funds Entertainment Opportunities. The objective of the scheme would be to achieve long term capital appreciation by investing primarily in the equity and equity related instruments of companies that focus on opportunities in the entertainment business. As a thematic fund, the portfolio will be more diversified than a sector fund and may not be as diversified as a typical equity fund.

Edelweiss Plans To Unveil Mutual Fund Biz In June

Kolkata: Mumbai-based Edelweiss is planning to unveil its mutual fund business by June this year. The financial services company will begin with an authorised capital of Rs 25 crore. To start with the company is planning a slew of new innovative products such as specific-segmented funds targeted at high networth investors (HNIs) and education sector. The mutual fund portfolio will also include structure funds and concentrated equity funds.

ABN Amro MF Revises Load Structure

ABN Amro Mutual Fund has decided to change load structure of ABN Amro Money Plus Fund with effect from 21 April 2008.

The scheme will not charge an entry load. It will charge 0.15% if units are redeemed/ switched out within 15 days from the date of investment. The exit load shall not be charged in case of switches between plans/options of the scheme. Further, no exit load shall be charged on bonus units and of units allotted on reinvestment of dividend.

ICICI MF Declares Dividend Under FMP

ICICI Mutual Fund has announced 24 April 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Interval Fund II-Quarterly Interval Plan A.

The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme under retail plan was Rs. 10.2019 as on 16 April 2008.

ICICI Prudential Interval Fund II-Quarterly Interval Plan A-Retail Option is a close-ended debt oriented interval scheme. The investment objective of the scheme is to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

The scheme charges 0.50% an exit load for redemptions made at any time other than the specified transaction period.

Sundaram BNP Paribus MF launches Select Thematic Funds Entertainment Opportunities

Name of Fund: Sundaram BNP Paribas Select Select Thematic Funds Entertainment Opportunities

Scheme: It is an open-ended equity scheme.

Objective: The objective of the scheme would be to achieve long term capital appreciation by investing primarily in the equity and equity related instruments of companies that focus on opportunities in the entertainment business. As a thematic fund, the portfolio will be more diversified than a sector fund and may not be as diversified as a typical equity fund.

Fund Opens: 24 April 2008

Fund Closes: 20 May 2008

Face Value: Rs 10

Investment Options: The fund offers two plans - regular and institutional plan. The scheme offers two options i.e. growth and dividend options under each plan. The dividend option offers dividend payout and dividend re-investment facilities.

Asset Allocation: The fund will invest 65-100% in equity and equity related instruments in the targeted sector/theme. It will have a 0-35% investment in equity and equity-related instruments other than the targeted sector/theme. There will be 0-15% investment in fixed income and money market instruments. Equity investments may also include overseas securities, up to a maximum of 35% of net assets of the scheme.

Entry Load: For regular plan, the scheme will charge an entry load of 2.25% for purchases amount of less than Rs 5 crore. For purchases amount greater than or equal to Rs 5 crore, there will no entry load be charged.

The scheme may not charge any entry load for institutional plan.

Exit Load: For regular plan, the scheme will charge an exit load of 1.00% for the investment redeemed within 6 months from the date of allotment. If investment units get redeemed after 6 months but before 12 months, there will be 0.50% an exit load charged. After 12 months, any redemption will not charge an exit load.

The scheme may not charge any exit load under institutional plan.

Minimum Investment Amount: Minimum investment amount under regular plan is Rs 5,000 and in multiples of Re 1 thereafter. Under institutional plan, minimum investment amount is Rs. 5 crore and in multiples of Re.1 thereafter

Minimum targeted amount: Rs.25 crore.

Benchmark Index: S&P CNX Media and Entertainment Index.

Fund Manager: For Indian securities: Satish Ramanathan and for overseas securities: R Vijayendiran

Kotak MF Files Another Offer Document With SEBI

Name of Fund: Kotak Fixed Maturity Plan 6 Months- Series 7 and Series 8

Scheme: These schemes are close-ended debt scheme with 180 days maturity.

Objective: The investment objective of the schemes is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.

Investment options: The schemes offer investment under two options namely dividend and growth option. Under dividend option, the unit holder will have dividend payout and reinvestment facility.

Asset Allocation: These schemes will invest up to 100% of its portfolio in debt and money market instruments. The plans may invest up to 50% in securitised debt. Investment in government securities shall not exceed 50% of the scheme.

Face Value: Rs 10.

Entry Load: These schemes will not charge any entry load as it is of close-ended nature.

Exit Load: The schemes will charge an exit load of 1.00% if redemption is done before maturity of the scheme.

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

Minimum targeted amount: The fund seeks to collect a minimum subscription amount of Rs. 50 lakh in the New Fund Offer of each scheme.

Benchmark Index: CRISIL Liquid Fund Index

Fund manager: Mr. Deepak Agrawal

Mutual funds in selling mode

Mutual funds (MFs) sold shares worth a net Rs 259.10 crore on Wednesday 16 April 2008 compared to their buying of Rs 121.80 crore on Tuesday, 15 April 2008.

MFs' net outflow of Rs 259.10 crore on Wednesday 16 April 2008 was a result of gross purchases Rs 523.30 crore and gross sales Rs 782.40 crore. Sensex rose 90.53 points or 0.56% at 16,244.19 on that day. MFs were net buyers of shares worth Rs 5.30 crore in this month, till 16 April 2008.

HSBC MF Declares Dividend

HSBC Mutual Fund has announced 23 April 2008 as the record date for declaration of dividend under dividend option of HSBC Fixed Term Series 25.

The AMC has approved to offer dividend under both regular and institutional plan. The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme was Rs. 10.0800 and that of under institutional plan is Rs 10.0777 as on 16 April 2008.

HSBC Fixed Term Series 25 is a close-ended income scheme seeks to generate reasonable returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of the pan.

The scheme will charge 2% exit load if investment units redeemed before maturity.

Bharti AXA MF Files An Offer Document

Name of Fund: Bharti AXA Equity Fund

Scheme: It is an open-ended multi cap equity scheme.

Objective: The scheme seeks to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.

Investment options: The Scheme offers Regular, Eco and Institutional Plans. Eco plan is available for retail investments up to Rs 2 lakh only. Any additional investment beyond Rs 2 lakh by a unit holder in eco plan will be automatically transferred to the regular plan only. Institutional plan is available only to specified category of investors – FIIs, fund of funds, insurance companies, pension funds, superannuation funds and gratuity Funds.

Dividend frequency: Under each of the plan, there will be growth, bonus, and dividend option. The schemes will be having regular and quarterly dividend option offering dividend re-investment and dividend payout facilities.

Asset Allocation: The fund will invest 65%-100% in equity and equity related securities. Equity and equity related securities include: convertible bonds and debentures and warrants carrying the right to obtain equity shares, ADRs / GDRs issued by Indian companies and foreign equities or similar /comparable instruments, derivative instruments like options and futures on equity securities/ indices, such other instruments as may be permitted under the Regulations from time to time.

It will have an investment of 0-35% in debt and money market securities/instruments.

Money market instruments include commercial papers, commercial bills, treasury bills, Government securities having an unexpired maturity up to one year, certificates of deposit, usance bills, reverse repo, CBLO and any other like instruments as specified by Reserve Bank of India from time to time. Fixed deposits and other current and savings instruments offered by the banks may also be used as an investment avenue and for facilitating investment into derivatives.

Face Value: Rs 10 per unit in cash plus applicable entry load

Entry Load:

Under regular plan: There will be 2.50% an entry load for purchases below Rs 2 crore; no load for purchases equal to and above Rs 2 crore.

Under eco plan: The scheme charges 2.50% an entry load.

For the institutional plan, the scheme does not levy an entry load.

Exit load:

For investments in regular plan –Below Rs 2 crore, 1% an exit load will be charged if redemption is done within 6 months from the date of allotment. From Rs 2 crore up to Rs 5 crore, 0.25% an exit load will be charged as redemption is done within 3 months. Above Rs 5 crore, there will be no exit load.

For investments in eco plan – The scheme will levy 1% an exit load if redeemed within 6 months from date of allotment.

For purchases made by way of Systematic Investment Plan / Systematic Transfer Plan, Exit Load of 1%, if redeemed within 6 months from date of allotment

Minimum Investment Amount: Minimum investment under retail plan is Rs 5,000 and in multiples of Re 1 thereafter. Under eco plan, the minimum investment amount is Rs 5000 in multiples of Re 1 thereafter. For the institutional plan, there will be Rs 5 crore as an application amount.

Minimum subscription amount: Rs 1 crore

Benchmark Index: S&P CNX Nifty Index

Fund Manager: Mr. Prateek Agrawal

HSBC MF Declares Dividend

HSBC Mutual Fund has announced 22 April 2008 as the record date for declaration of dividend under dividend option of HSBC Fixed Term Series 22-regular plan. The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme was Rs. 10.0642 as on 15 April 2008.

HSBC Fixed Term Series 22 is a close-ended income scheme seeks to generate reasonable returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of the pan.

The scheme will charge 2% exit load if investment units redeemed before maturity.

SBI MF Declares Dividend

The SBI mutual fund has announced the declaration of dividend under dividend option of SBI Debt Fund Series-15 Months-2. The record date for dividend will be 22 April 2008.

The quantum of dividend is 100% of surplus available as on record date. The NAV of the scheme was recorded at Rs 10.3792 as on 9 April 2008.

SBI Debt Fund Series-15 Months-2 was launched in January 2007. It is a close-ended debt scheme, with an objective to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments.

JP Morgan AMC Appoints New Fund Managers

JP Morgan Asset Management Company has appointed Fund Managers for the following schemes:

JP Morgan India Equity Fund and JP Morgan India Smaller Companies Fund:

Mr Harshd Patwardhan and Mr Amit Gadgil for equity Mr Nandkumar Surti and Mr Namdev Chougule for debt.

JP Morgan India Liquid Fund and JP Morgan India Liquid Plus Fund:

Mr Nandkumar Surti and Mr Namdev Chougule

The aforesaid changes are proposed to be done with effect from 17 April 2008.

Franklin Templeton MF Changes Name Of Its Pharma Fund

Franklin Templeton mutual fund has changed the name of Franklin Pharma Fund from ET Lifex to ET Pharma. The changes are to be effective from 15 April 2008. The scheme is an open-ended growth scheme with an objective to provide long-term capital appreciation from a portfolio that is invested in shares of companies operating in pharmaceutical/ life science industry sector.

All the other terms and conditions of the scheme will remain unchanged.

Deutsche MF Files Offer Document

Name of Fund: DWS Fixed Term Fund - Series 50

Scheme: The scheme is close-ended debt fund. It will have maturity of 3 years.

Investment objective: The objective of the fund is to generate regular income by investing in fixed income securities /money market instruments usually maturing in line with the time profile of the fund.

Asset Allocation:

Under Plan A: The fund can invest up to 100 % in domestic debt instruments including government securities & money market instruments and securitised debt. Investment in Equity Linked Debentures (ELDs) and securitised debt would be up to 100% of the net assets for Plan A. The exposure to derivatives shall be restricted to 50% of the net assets of the scheme.

Under Plan B: The fund can invest up to 100 % in domestic debt instruments including government securities & money market instruments and securitised debt. Investment in Equity Linked Debentures (ELDs) would be upto70% of the net assets and investment in securitised debt would be up to 100% for Plan B.

Face Value: Rs 10.

Investment Options: Each scheme offers two plans – Plan A and Plan B. Each of the plans will offer two sub-options namely growth and dividend payout.

Entry Load: The fund may charge an entry load up to 3%. The final entry load will be decided at the time of launch of the scheme subject to market conditions.

Exit Load: The scheme does not charge an exit load.

Minimum Investment Amount: The minimum investment is Rs 5,000 and in multiples of Re 1 thereafter.

Benchmark Index: CRISIL Composite Bond Fund Index

Fund Manager: Mr. Suresh Soni

Bharti AXA MF Files An Offer Document

Name of Fund: Bharti AXA Treasury Plus

Scheme: It is an open-ended income scheme.

Objective: The scheme seeks to deliver reasonable market related returns with lower risk and higher liquidity through a portfolio of high quality debt and money market instruments.

Investment options: The scheme offers retail and institutional plans. Both plans have growth option and dividend reinvestment option. Institutional plan also offers dividend payout option with monthly dividend frequency.

Dividend frequency: Dividends will be declared under the dividend re-investment option: in retail plan, with weekly frequency; and in institutional plan, with daily, weekly and monthly frequencies.

Asset Allocation: The fund will invest 50%-100% in money market instruments up to 1-year residual maturity. This includes investment in debt instruments including Asset Backed Securities up to 6 months residual or average maturity at the time of purchase or has put options within 6 months. Investment includes floaters up to 6 months of interest re-set frequency and short-term deposits.

It will have an investment of 0-50% in debt instruments (including Asset Backed Securities) beyond 6 months of residual or average maturity at the time of purchase or have put options beyond 6 months and floaters having interest re-set frequency beyond 6 months but up to 1 year.

Investments in Asset Backed Securities will not exceed 20% of the portfolio as at the time of purchase. Floating rate debt instruments are debt instruments issued by Central / State governments, corporates, PSUs, etc. with interest rates that are reset periodically. The periodicity of interest reset could be daily, monthly, quarterly, half yearly, and annually or any other periodicity that may be mutually agreed between the issuer and the Fund.

Face Value: Rs 1000 per unit in cash

Entry Load: The scheme does not charge an entry load.

Exit load: The scheme will charge 0.25% an entry load for purchase / switch-in of before 7 days from the date of allotment. There will be no exit load charged on the redemption made on the day of maturity.

Minimum Investment Amount: Minimum investment under retail plan is Rs 5,000 and in multiples of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 1 crore in multiples of Re 1 thereafter.

Minimum subscription amount: Rs 1 crore

Benchmark Index: CRISIL Liquid Fund Index

Fund Manager: Mr. Sujoy Kumar Das.

SBI Set To Launch Micro-Mutual Fund Scheme

In a move to tap opportunities in the bottom of the pyramid market, SBI Mutual Fund is set to make the minimum investment requirement in mutual funds smaller.

As part of its financial inclusion agenda, SBI MF is planning to lower the bar for investment through systematic investment plans (SIPs) to Rs 50 from the present level of Rs 100.

The Raghuram Rajan committee on financial sector reforms, which dealt with the issue of financial inclusion in detail, had suggested that the bar could be lowered to Rs 200 to get more people to invest in equities and also widen the investor base.

SBI Chairman O P Bhatt, who was part of the Rajan panel, said, “We are already into micro-insurance in a big way and we are now looking at micro-mutual funds. I have spoken to executives in SBI Mutual Fund and we will soon have schemes where people can invest with just Rs 50.”

Bhatt said the final product design for the micro mutual funds will be decided in consultation with Societe General, its joint venture partner in SBI MF.

Simultaneously, SBI Life, the insurance venture, is also designing a micro health insurance scheme and had started with Devi Shetty of Narayana Hrudayalaya.

At present, Reliance Mutual Fund has an SIP that provides an option to invest Rs 100 a month. Similarly, UTI SIP starts with a minimum investment of Rs 500, while ICICI Prudential requires an investment of at least Rs 1,000.

Through SIPs, individuals can choose to stagger investment at regular intervals instead of investing a large amount at one time.

High management cost was one of the reasons for staying away from schemes, which stipulated low minimum investment. But SBI could overcome a part of the problem given its reach through 10,000 branches, a large number of which are in rural areas.

Besides, the Rajan committee pointed out that there could be self-help groups that might invest Rs 200 a month (say, with 10 women chipping in with Rs 20 each) and the mutual fund industry will recognize SHGs are legitimate participants.

The rule regarding a permanent account number for these investors also needs to be revisited.

ICICI MF Declares Dividend Under FMP

ICICI Mutual Fund has announced 21 April 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Fixed Maturity Plan-Series 35-Thirteen Months Plan B.

The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme was Rs. 11.1175 as on 9 April 2008.

ICICI Prudential Fixed Maturity Plan-Series Series 35-Thirteen Months Plan B is a close-ended debt scheme. The investment objective of the scheme is to seek to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the plan.

The scheme charges 2% an exit load for redemptions made during repurchase facility period. Redemption on maturity, it may not ask for exit load.

DBS Chola Interval Income Fund Opens For Transaction

DBS Chola Mutual Fund has decided that DBS Chola Interval Income Fund - Monthly Plan A, with specified transaction period is opened for transaction on 15 April 2008.

DBS Chola Interval Income Fund-Monthly Plan A combines the features of open-ended and closed ended schemes, making the fund open for fresh purchase or redemption during pre-determined intervals (monthly) at NAV based prices.

DBS Chola Interval Income Fund-Monthly Plan A is a debt oriented interval income fund with an objective to generate regular income through investments in debt including securitized debt, money market and government securities normally maturing in line with the time profile of the respective plans and also with a provision to offer liquidity at periodic interval.

The specified interval period for the fund is 30 days. The fund will offer liquidity at monthly intervals during the specified transaction period without any payment of entry/exit loads. The specified transaction period for DBS Chola Interval Income Fund – Monthly Plan A would be 15th of every month. In addition, the fund will also offer redemption/ switch-out facility on an ongoing basis, subject to payment of applicable loads.

Post Expenses yield under institutional plan is between 8.10-8.20% and that of under retail plan is 7.80%. The scheme invests 65-100% in debt including securitized debt and money market instruments and 0-35% in government securities. The scheme is having retail and institutional plan with cumulative and dividend options.

The fund is benchmarked to CRISIL Liquid Fund Index.

Lotus India MF Launches FMP Series

Name of Fund: Lotus India Fixed Maturity Plans- 3 Month- Series XXVII

Scheme: This scheme is a close-ended income scheme.

Objective: The objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme.

Investment option: The scheme offers growth and dividend options.

Fund Opens: 15 April 2008

Fund Closes: 15 April 2008

Face Value: Rs 10

Entry Load: There will no entry load charged for the scheme due to its close-ended structure.

Exit Load: The scheme charges an exit load of 1%, if the investment is redeemed before the maturity date.

Minimum Investment Amount: The minimum investment amount is Rs 5,000 and in multiples of Re 1 thereafter.

Franklin Templeton MF Launches Templeton Fixed Tenure Fund

Name of Fund: Franklin Templeton Fixed Tenure Fund -Series IX-Plan A

Scheme: It is a close - ended income fund. The scheme will be having maturity of 3 years from the date of allotment.

Objective: The investment objective of the scheme would be to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities with a maturity profile generally in line with the fund's duration along with capital appreciation through equity exposure.<>Fund Opens: 15 April 2008

Fund Closes: 30 April 2008

Face Value: Rs 10 per unit.

Investment Options: The scheme offers growth and dividend option. Dividend option further provides dividend payout facility.

Entry Load: The scheme will not charge any entry load as the scheme is of close ended nature.

Exit load: The scheme will charge an entry load of 2.5% for the redemption done up to 18 months from the date of allotment. It comes down to 1.5%, if redemption of investment is made after 18 months but before 30 months. If redemption of units is made after 30 months but before maturity, the scheme will levy 0.5% an exit load. No exit load will be charged for the switch out/ redemption on maturity.

Minimum Investment Amount: The minimum investment amount is Rs 10000 and in multiples of Re 1 thereafter.

Minimum Subscription amount: The scheme seeks to collect Rs.1 crore.

Asset allocation: The scheme may invest 80- 100% in debt securities and money market instruments. It will invest 0-20% in equity and equity-linked instruments. The exposure in government securities and securitised debts shall be up to 100%. The scheme makes investment in ADR/GDR/foreign securities up to 40% of the equity/ debt portion, exposure in derivatives up to a maximum of 50%.

Benchmark Index: 20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index.

Fund Manager: Ninad Deshpande and Pallab Roy for the debt portion and Anand Radhakrishnan for the equity portion.

Morgan Stanley A.C.E. Fund Re-Opens

Morgan Stanley A.C.E. Fund re-opened for fresh transactions on 10 April 2008. The NFO for the fund closed on 11 March 2008. The NAV currently stands at Rs. 10.129 as on 10 April 2008. Morgan Stanley A.C.E. Fund is an Across Capitalisations Equity Fund or in other words a multi-cap fund. This ensures that the fund portfolio is diversified, with the fund manager choosing sectors and stocks on merit, rather than focus on specific sectors or themes. Morgan Stanley Mutual Fund believes that this strategy is best suited to take advantage of current market opportunities. The fund is benchmarked to the BSE 200.

The fund is being managed by Jayesh Gandhi who has over 12 years experience in investment management and research. In his previous role also, he predominantly managed equity in the multi-cap/mid-cap area.

Kotak MF Launches New FMP

Kotak MF unveils a new fund called Kotak Fixed Maturity Plan 3 month Series 29. It is a close-ended debt scheme. It has maturity of 3 month after the date of allotment.

The scheme offers investors growth option and dividend option under both the plans. The objective of the scheme would be to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.

Birla Sun Life MF Revises Special Products And Load Structure

Birla Sun Life Mutual Fund has announced the revision in special products offered by the schemes of Birla Sun Life Mutual Fund with effect from 15 April 2008.

Extension of Systematic Transfer facility to equity schemes:

Systematic Transfer Plan (STP) facility will be available to the schemes mentioned hereunder: Investors can transfer "Out" investment from any open ended schemes of Birla Sun Life Mutual Fund except Birla Sun Life Tax Relief ’96, Birla Equity Plan and Birla Index Fund and transfer "In" to any open ended schemes except Birla Index Fund.

Extension of Systematic Withdrawal facility to equity schemes:

Systematic Withdrawal Plan (STP) facility will be available to the schemes mentioned hereunder: Investors can avail this facility in all the open-ended schemes of Birla Sun Life Mutual Fund except Birla Sun Life Tax Relief ’96, Birla Equity Plan and Birla Index Fund.

ICICI Prudential Balanced Fund (G) Outperforms The Sensex Over Most Of The Time Periods

Background: Prudential ICICI Asset Management Company Ltd manages prudential ICICI Mutual Fund. A joint venture between Prudence Plc, UK's leading insurance company and ICICI Bank Ltd. India's premier financial institution. Prudential ICICI Mutual Fund house has Rs. 54321.87 crore assets under management at the end of March 2008.

ICICI Prudential Balanced Fund (G) an open-ended equity-balanced scheme launched in September 1999.The primary investment objective of the fund is to generate long-term capital appreciation and current income from a portfolio that is invested in equity and equity related securities as well as in fixed income & money market securities. The minimum investment amount is Rs.5000 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs.37.18 as on 11 April 2008.

Portfolio: The total net assets of the scheme decreased by Rs.58.78 crore to Rs.345.80 crore in March 2008.

ICICI Prudential Balanced Fund (G) took fresh exposure to only one stock in March 2008. The scheme has purchased 1.35 lakh units (0.83%) of Nagarjuna Construction Company in March 2008.

The scheme completely exited CMC by selling 65379 units (1.49%) in March 2008.

Sector-wise, the scheme did not take fresh exposure to any sector in March 2008.

Sector-wise, the scheme exited completely from Computers – Hardwa at 1.49% in March 2008.

The scheme had highest exposure to Reliance Industries with 1.12 lakh units (7.37% of portfolio size) followed by ICICI Bank with 1.55 lakh units (3.46%), AIA Engineering with 79287 units (3.45%) and Larsen & Toubro with 37337 units (3.27%) among others in March 2008.

It reduced its exposure to Reliance Industries by selling 65311 units to 1.12 lakh units (3.44%), Bharat Heavy Electricals by selling 25042 units to 49497 units (by 1.26%), State Bank of India by selling 16477 units to 30527 units (1.04%) and AIA Engineering by selling 24660 units to 79287 units (0.99%) among others in March 2008.

Sector-wise, the scheme had highest exposure to Refineries at 7.37% (from 10.81% in February 2008), followed by Diversified – Mega at 6.03% (5.77%), Banks - Public Sector at 5.52% (6.76%), and Plastics Products at 5.39% (5.41%) among others in March 2008.

Sector wise, the scheme had reduced exposure Refineries to 7.37% (by 3.44%), Electric Equipment to 2.94% (by 1.26%), Banks - Public Sector to 5.52% (by 1.24%), and Banks - Private Sector to 3.46% (by 0.72%) among others in March 2008.

Performance: The scheme underperformed the category average over all time periods. It has outperformed the Sensex over most of the time periods.

Over three-month period ended as on 11 April 2008, the scheme posted negative returns of 20.85% underperforming the category average of 16.36%. It outperformed the Sensex that posted negative returns of 24.10% during the same period.

Birla Sun Life MF Declares Dividend

Birla Sun Life Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Birla Fixed Term Plan-Series U. The fund house has decided to distribute 100% of surplus available under option as on record date. The record date is set as 17 April 2008.

The NAV for the scheme under retail plan was Rs. 11.1043 and that of under institutional plan was Rs 11.1388 as on 10 April 2008.

Birla Fixed Term Plan-Series U is a close-ended income fund that seeks to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of scheme.

HDFC MF Launches 181D April Plan Under HDFC FMP -Series VII

Name of fund: HDFC Fixed Maturity Plan 181 Days April 2008.

Scheme: The scheme is of close-ended income nature.

Objective: The investment objective of the fund is to generate regular income through investments in debt, money market instruments, and government securities.

Options: Both HDFC Fixed Maturity Plans 181 Days April 2008 offers wholesale plan and retail plan with growth and dividend option.

The Minimum Investment Amount:

Under retail Plan: Rs. 5,000 and in multiples of Re. 1 thereafter per application

Under wholesale Plan: Rs. 1 crore and in multiples of Re. 1 thereafter per application

Asset allocation:

Debt securities and money market instruments: 60-100%

Government securities: 0- 40%

Securitised debt: Up to 75% of net assets of plan

Snapshot

Offer opens: 16 April 2008

Offer closes: 21 April 2008

Face value: Rs 10

Entry load: Nil

Exit load: HDFC Fixed Maturity Plan 181 Days April 2008 may charge an 0.75% an exit load if the units are redeemed or switched out before maturity.

Benchmark Index: Crisil Liquid Fund Index

Fund Manager: Mr. Shobhit Mehrotra.

Birla Sun Life MF Declares Dividend

Birla Sun Life Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Birla Fixed Term Plan-Series S. The fund house has decided to distribute 100% of surplus available under option as on record date. The record date is set as 16 April 2008.

The NAV for the scheme under retail plan was Rs. 11.0897 and that of under institutional plan was Rs 11.1374 as on 10 April 2008.

Birla Fixed Term Plan-Series S is a close-ended income fund that seeks to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of scheme

Principle Pnb MF Declares Dividend Under FMP Series

The Principle Pnb mutual fund has announced the declaration of dividend under dividend option of Principle Pnb Fixed Maturity Plan-385 Days-Series IV. The record date for dividend will be 16 April 2008. The AMC plans to distribute entire appreciation in the NAV of dividend option between 29 March 2007 to 16 April 2008 as dividend. The NAV of the scheme was recorded at Rs 11.1076 as on 10 April 2008.

Principle Pnb Fixed Maturity Plan-385 Days-Series IV is close-ended debt scheme with an investment objective of building an income-oriented portfolio and providing returns along with regular liquidity to investors.

DSP ML MF Extends NFO Period Under FTS 48

DSP Merrill Lynch mutual fund has extended the new fund-offering (NFO) period of DSP Merrill Lynch Fixed Term Fund Series 48 from 7 April to 15 April 2008. The issue was opened for subscription on 24 March 2008. DSP Merrill Lynch Fixed Term Fund Series 48 is close-ended debt fund with the duration of 12 months. The NFO price for the fund is Rs 10 per unit. The minimum investment amount under regular plan is Rs. 5,000 and in multiple of Re 1 thereafter. The minimum investment amount under institutional plan is Rs. 1 crore and in multiple of Re 1 thereafter.

Tata MF Declares Dividend

Tata Mutual Fund has announced the declaration of dividend under dividend option for Tata Fixed Horizon Fund-Series 7-Scheme A. The record date is set as 14 April 2008. The AMC decided to distribute up to 100% of the net distributable surplus available as on record date as a dividend. The NAV for the scheme under dividend option was Rs.11.1266 as on 8 April 2008. Tata Fixed Horizon Fund-Series 7-Scheme A is a close-ended debt scheme launched in March 2007. The objective of the scheme is to generate regular income and / or capital appreciation by investing in wide range of debt and money market instruments.

HDFC MF Declares Dividend

HDFC Mutual Fund has announced 15 April 2008 as the record date for declaration of dividend under dividend option of HDFC Fixed Maturity Plan 181 Days October 2007 under HDFC Fixed Maturity Plan -Series VI. The AMC planed to offer dividend under both retail and wholesale plan. The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV for the scheme under retail was Rs. 10.3654 and that of under wholesale plan is Rs 10.3738 as on 8 April 2008.

JM Financial MF Declares Dividend

The JM Financial mutual fund has announced the declaration of dividend under dividend option of JM Fixed Maturity Fund –Series IV- 13 Months Plan. The record date for dividend will be 15 April 2008.

The AMC plans to distribute realized appreciation in the NAV of the plan / option till the record date as dividend. The NAV of the scheme was recorded at Rs 10.0329 as on 9 April 2008.

JM Fixed Maturity Fund –Series IV- 13 Months Plan is a close-ended income scheme comprising various plans seeking to generate regular returns through investment in fixed income securities normally maturing in line with the time profile of the respective plan.

ICICI Pru FMP Series 42- 6 Months Plan C Extends NFO Perioda

ICICI Prudential mutual fund has extended the new fund-offering (NFO) period of ICICI Prudential Fixed Maturity Plan – Series 42- Six Months Plan C from 14 April to 16 April 2008. The issue was opened for subscription on 2 April 2008.

ICICI Prudential Fixed Maturity Plan – Series 42- Six Months Plan C is close-ended debt fund. The NFO price for the fund is Rs 10 per unit. The minimum investment amount is Rs. 5,000 and in multiple of Re 1 thereafter.

ICICI Prudential Fixed Maturity Plan – Series 42 – Six Months Plan C seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the plans under the scheme. The scheme will have an investment in money market instruments short-term medium term debt securities and debt instruments.

Presently there is one option available for investment under the scheme viz. retail option. Cumulative and dividend payout sub options are available under retail option. Dividend payout is the only facility available under dividend sub-option.

There will no entry load charged for the scheme due to its close-ended structure. There will be an exit load of 1.00% of the applicable NAV for the redemption made during the repurchase facility period.

Franklin Templeton MF Declares Dividend Under Its Fixed Horizon Series

Franklin Templeton Mutual Fund has announced the declaration of dividend for Templeton Fixed Horizon Fund-Series I-13 Months Plan. The record date is set as 15 April 2008. The fund house has decided to distribute 100% of surplus as on record date on the face value of Rs 10.

Templeton Fixed Horizon Fund-Series I-13 Months Plan was launched in March 2007. It is a close-ended income fund that seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities with a maturity profile generally in line with the fund's duration.

HDFC MF Declares Dividend

HDFC Mutual Fund has announced 15 April 2008 as the record date for declaration of dividend under dividend option of HDFC Fixed Maturity Plan 181 Days October 2007 under HDFC Fixed Maturity Plan –Series VI. The AMC planed to offer dividend under both retail and wholesale plan.

The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV for the scheme under retail was Rs. 10.3654 and that of under wholesale plan is Rs 10.3738 as on 8 April 2008.

HDFC Fixed Maturity Plan 181 Days October 2007 is a close-ended income scheme. The investment objective of the scheme is to seek to generate income by investments in debt, money market instruments, and government securities.

ING MF Declares Dividend Under FMP Series

ING India Mutual Fund has announced 15 April 2008 as the record date for declaration of dividend under dividend option of ING Fixed Maturity Plan - Series XXII.

The AMC plans to distribute entire appreciation in the NAV of dividend option from the date of allotment to 15 April 2008 as dividend. The NAV under the scheme is Rs 10.5723 as on 8 April 2008.

ING Fixed Maturity Plan - Series XXII was launched in March 2007. The scheme is a close -ended scheme offering an investment plan of 400 days maturing on 15 April 2008. The scheme aimed at investing in a portfolio of government securities or highly rated corporate bonds maturing close to maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The scheme will invest in debt securities so as to minimise the impact of price fluctuation of such securities and the value at maturity.

Tata MF Declares Dividend

Tata Mutual Fund has announced the declaration of dividend under dividend option for Tata Fixed Horizon Fund-Series 7-Scheme A. The record date is set as 14 April 2008. The AMC decided to distribute up to 100% of the net distributable surplus available as on record date as a dividend. The NAV for the scheme under dividend option was Rs.11.1266 as on 8 April 2008.

Tata Fixed Horizon Fund-Series 7-Scheme A is a close-ended debt scheme launched in March 2007. The objective of the scheme is to generate regular income and / or capital appreciation by investing in wide range of debt and money market instruments.

ICICI Prudential AMC Launches Focussed Equity Fund

ICICI Prudential AMC announced the launch of ICICI Prudential Focussed Equity Fund, an open-ended equity scheme that aims to maximize long-term capital appreciation by investing in equity and equity related securities of about 20 companies. The Fund's stock picking universe would comprise the top 200 companies in terms of market capitalisation from the companies listed on the National Stock Exchange of India Ltd. (NSE).

HSBC MF Raises Rs 353 Crore Through Its Two Fixed Term Series

HSBC Mutual Fund has collected Rs 353 crore through its Fixed Term Series 46 and Fixed Term Series 48 during its initial offer period.

Both these schemes are close-ended fixed term income funds.

Fixed Term Series 46, a 370 days plan was opened for subscription from 24 March to 27 March 2008. It collected Rs 88 crore during its NFO period.

Fixed Term Series 48, is a close-ended fixed term income scheme. The maturity date of plan would be 6 months from the date of allotment of units under the scheme. The issue was opened for subscription on 28 March and closes on 2 April 2008. It raised Rs 263 crore during its initial offering period.

The investment objective of both the schemes is to seek generation of returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of the plan.

Both the schemes will have an investment in money market instruments and debt instruments.

DBS Chola Interval Income Fund -Quarterly Plan B Set To Wind-Up

DBS Chola mutual fund has declared that the DBS Chola Interval Income Fund -Quarterly Plan B is being wound- up with effect from 8 April 2008.

The fund house will cease to carry any business activities in respect of the plan. It has also ceased to issue units in the plan and has also ceased to create or cancel units in the plan.

JM Financial Ceases Its G-Sec Fund

The JM Financial mutual fund has declared that the JM G-Sec Fund PF Plan is being wound up with effect from 8 April 2008.

The fund house will cease to carry any business activities in respect of the plan. It has also ceased to issue units in the plan and has also ceased to create or cancel units in the plan.

JM G-Sec Fund PF Plan aimed at providing ultimate level of safety to its unit holders through investments exclusively in sovereign securities issued by the central and state government.

ICICI Pru MF Unveils Focused Equity Fund

ICICI Prudential Mutual Fund has launched ICICI Prudential Focused Equity Fund, an open - ended equity scheme. The scheme opens for subscription on Apr. 08, 2008 and closes on May 07, 2008. The units of the scheme will be available at Rs 10 per unit during the New Fund Offer period. ICICI Prudential Focused Equity Fund aims at generating long-term capital appreciation and income distribution to unit holders from a portfolio that is invested in equity and equity related securities of about 20 companies belonging to the large cap domain and the balance in debt securities and money market instruments.

Reliance MF Declares Dividend

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Interval Fund - Monthly Interval Fund - Series I under both retail and institutional plan. The record date is set as 11 April 2008. The fund house has decided to distribute 100% of surplus available under both plans as on record date. The NAV for the scheme under retail plan was Rs. 10.0212 and that of institutional plan was Rs. 10.0195 as on 2 April 2008.

Mutual Funds Continue Selling In Equities

Mutual funds continue to press sales in equities probably to raise cash to meet possible redemption pressure following a sharp setback on the bourses over the past few weeks. On Friday, 4 April 2008, mutual funds sold equities to the tune of Rs 162.50 crore. The net outflow of Rs 162.50 crore on 4 April 2008 was a result of gross purchases Rs 396.80 crore and gross sales Rs 559.30 crore. Sensex plunged 489.43 points or 3.09% at 15,343.12 on that day on fears of monetary tightening by the Reserve Bank of India after the latest data showed a surge in inflation to a 3-year high of 7% in late March 2008.

SBI MF Declares Dividend

The SBI mutual fund has announced the declaration of dividend under dividend option of SBI Debt Fund Series-13 Months-3. The record date for dividend will be 11 April 2008. The quantum of dividend is 100% of surplus available as on record date The NAV of the scheme was recorded at Rs 10.3605 as on 2 April 2008. SBI Debt Fund Series-13 Months-3 is a close-ended debt scheme, with an objective to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments.

ICICI Mutual Fund Unveils FMP Series 42 Six Months Plan B

ICICI Mutual Fund launched ICICI Prudential Fixed Maturity Plan - Series 42 - Six Months Plan B. ICICI Prudential Fixed Maturity Plan - Series 42 -Six Months Plan B seeks to generate returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the scheme.

Mirae Asset MF Files An Offer Document

Mirae Asset Mutual Fund filed an offer document to launch Mirae Asset Interval Fund. It is a debt oriented interval scheme. The scheme will have two plans i.e. monthly and quarterly plans. Monthly plan will have two Series i.e. Series I and Series II and quarterly plan will have three series i.e. Series I, Series II and Series III. The objective of the scheme is to seek to generate returns with low volatility through a portfolio of debt and money market instruments with a provision to offer liquidity at periodic intervals.

Religare AEGON AMC Appoints Ashish Nigam

Religare AEGON Asset Management Company Private Limited, (Religare AEGON AMC), a joint venture between Religare and AEGON, has announced the appointment of Ashish Nigam as the Head of Fixed Income. Based in Mumbai, Ashish will be responsible for managing the AMC`s fixed income portfolio.

Prior to joining Religare AEGON AMC, Ashish Nigam was Head Fixed Income with DBS Cholamandalam AMC. His earlier assignments includes with institutions like Development Credit Bank, Mashreq Bank and IDBI Principal Asset Management.

Religare and AEGON have partnered to establish Religare AEGON Asset Management JV. Both partners will have equal ownership in the Venture.

The JV would offer mutual fund and investment products to the investing community in India and overseas.

HDFC MF Declares Dividend

HDFC Mutual Fund has approved the declaration of dividend under the HDFC Quarterly Interval Fund - Plan B -retail and wholesale plan. The record date for dividend is set as 11 April 2008. The AMC plans to distribute 100% of distributable surplus as on record date. The NAV for the schemes stood at Rs. 10.2229 on 4 April 2008.

HDFC Quarterly Interval - Plan B is an open-ended interval income scheme with an objective to generate regular income through investments in debt / money market instruments and government securities.

Reliance MF Declares Dividend

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Interval Fund – Monthly Interval Fund – Series I under both retail and institutional plan. The record date is set as 11 April 2008.

The fund house has decided to distribute 100% of surplus available under both plans as on record date. The NAV for the scheme under retail plan was Rs. 10.0212 and that of institutional plan was Rs. 10.0195 as on 2 April 2008.

Reliance Interval Fund – Monthly Interval Fund – Series I is a debt oriented interval scheme. The investment objective of the scheme is to generate regular returns and growth 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.

SBI MF Declares Dividend

The SBI mutual fund has announced the declaration of dividend under dividend option of SBI Debt Fund Series-13 Months-3. The record date for dividend will be 11 April 2008.

The quantum of dividend is 100% of surplus available as on record date The NAV of the scheme was recorded at Rs 10.3605 as on 2 April 2008.

SBI Debt Fund Series-13 Months-3 is a close-ended debt scheme, with an objective to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments.

JM Financial MF Declares Dividend

The JM Financial mutual fund has announced the declaration of dividend under dividend option with both regular and institutional plans of JM Interval Fund-Quarterly Plan 2. The record date for dividend will be 7 April 2008.

The AMC plans to distribute realized appreciation in the NAV of the plan / option since inception till the record date as dividend. The NAV of the scheme was recorded at Rs 10.0243 under regular plan and Rs 10.0245 under institutional plan as on 1 April 2008.

JM Interval Fund-Quarterly Plan 2 is a debt oriented interval fund, whose primary investment objective is to seek to generate predictable returns over a predetermined period by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan.

ING MF Collects Rs.9.691 Crore Through Its FMP Series 44

ING Mutual Fund has collected Rs 9.691 crores via ING Fixed Maturity Fund- Series 44 during their initial offer period from 19 March to 24 March 2008. It is a close-ended bond scheme offering an investment plan of 91 days maturity.

The scheme will be investing in a portfolio of government securities or highly rated corporate bonds maturing close to the maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The scheme will invest in debt securities with maturity coinciding closely with the maturity of the scheme, so as to minimise the impact of price fluctuation of such securities on the value of the security at maturity.

The scheme provides two plans i.e. retail and institutional plan with a sub-option of growth, dividend. To provide liquidity to investors, the Fund proposes to provide repurchase facility in the scheme on 23 April, 23 May 2008, and 22 June 2008. If repurchase request is submitted after the date of allotment and on or before 22 June 2008 the applicable Contingent Deferred Sales Charge (CDSC) will be 1.00%. If repurchase request is submitted on 22 June 2008 and on or before 23 June 2008 there will be no CDSC.

Tata MF Forges Alliance With UK's New Star

Mumbai: Tata Asset Management has inked an alliance with UK-based New Star Asset Management, a retail fund management company, to offer advice for the latter's proposed India dedicated equity fund. New Star will mop up funds from retail investors in UK and invest in India through the FII route.

Last year, Tata Mutual Fund signed partnership with a UK-based global investment management house Invesco which has nearly $500 billion under management, for its own 'Indo-Global Infrastructure Fund'. Here, Tata Mutual Fund collects funds from India for Indo-Global Infrastructure Fund, investing a percentage of it in Invesco's Asia Infrastructure Fund. The rest of the funds would be invested in India-listed infrastructure companies.

Kotak MF Collects Rs.119 Crore Through Its FMP

Kotak Mutual Fund has collected Rs 119 crores via Kotak Fixed Maturity Plan -3 Months- Series 28 during their initial offer period from 13 March and closed 17 March 2008. It is a close-ended debt scheme. The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. For the purpose of achieving the investment objective, the scheme will invest in a portfolio of debt and money market securities normally maturing in line with the maturity profile of the scheme. The fund will invest up to 100% in money market instruments and debt instruments. If redemption is done before maturity, 1% an exit load will be charged.

UTI MF Collects Rs.350 Crore Through Its FTI Fund

UTI Mutual Fund has collected Rs 350 crores via UTI Fixed Term Income Fund- Series IV Plan VI-March 08- 15 Months during their initial offer period from 19 March to 28 March 2008. It is a close-ended income scheme with plan tenure of 15 months.

The objective of the scheme is to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity period of the plan. For the purpose of achieving the investment objective, the scheme will invest in a portfolio of debt and money market securities normally maturing in line with the maturity profile of the scheme.

The scheme offers two options i.e. growth and dividend. The scheme charges an exit load of 3.00%, if the investment is redeemed before the maturity period. Whereas there will be no exit load charged on the redemption made on or after the maturity period.

Now, Mfs Can Invest $7 Bn Overseas

The Reserve Bank of India (RBI) has raised the overall limit for overseas investment by domestic mutual funds from $5 billion to $7 billion.

While the central bank said in a late evening statement that the decision was taken “with a view to providing greater opportunity for investment overseas”, the move is also being viewed as an effort to enhance outflows at a time when foreign capital flows could rise in the coming weeks.

The mutual fund industry appeared a little surprised by the sudden move since even the existing limit was not being utilised. Industry estimates peg the amount invested overseas at $1 billion to $2 billion. Only last September, RBI had raised the overseas investment limit for mutual funds from $4 billion to $5 billion.

In its statement on Thursday, RBI said the overall ceiling for investment in overseas exchange-traded funds will continue to be at $1 billion.

At present, there are about 17 schemes that invest overseas, which include equity and debt. At present, the individual investment limit per fund house is $300 million.

“The appetite for global investment from Indian investors is slowly increasing, but coming days may see more steps to allow domestic investors to have greater asset allocation overseas.

Reliance MF Declares Dividend Under Its Fixed Horizon Series

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Fixed Horizon Fund- II- Annual Plan -Series III under both retail and institutional plan. The record date is set as 9 April 2008.

The fund house has decided to distribute 100% of surplus available under both plans as on record date. The NAV for the scheme under both retail and institutional plan was Rs. 10.4369 as on 2 April 2008.

Reliance Fixed Horizon Fund- II- Annual Plan -Series III is a close-ended income fund. The primary investment objective of the scheme is 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 series with the objective of limiting interest rate volatility.

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HSBC Small Cap Fund Garners Rs.86 Crore

HSBC Mutual Fund has collected Rs 86 crores via HSBC Small Cap Fund during their initial offer period from 19 January to 4 March 2008. HSBC Small Cap Fund is a three years close-ended equity scheme with automatic conversion into open-ended equity scheme at the end of three years from the date of allotment of units.

The objective of the scheme is to provide long-term capital appreciation primarily from a diversified portfolio of equity and equity related instruments of small cap companies.

The scheme offers investors dividend and growth options. Dividend option offers dividend reinvestment and payout facilities.

The scheme may invest 65-100% in equity and equity related instruments of small cap companies. It may have investment of 0-35% in equity and equity related instruments of other than small cap companies. The scheme will invest 0-35% in debt and money market instruments.

The benchmark index for the scheme will be BSE Small Cap Index

JM Financial MF Declares Dividend

The JM Financial mutual fund has announced the declaration of dividend under dividend option with both regular and institutional plans of JM Interval Fund-Quarterly Plan 2. The record date for dividend will be 7 April 2008.

The AMC plans to distribute realized appreciation in the NAV of the plan / option since inception till the record date as dividend. The NAV of the scheme was recorded at Rs 10.0243 under regular plan and Rs 10.0245 under institutional plan as on 1 April 2008.

JM Interval Fund-Quarterly Plan 2 is a debt oriented interval fund, whose primary investment objective is to seek to generate predictable returns over a predetermined period by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan.

ING MF Collects Rs.9.691 Crore Through Its FMP Series 44

ING Mutual Fund has collected Rs 9.691 crores via ING Fixed Maturity Fund- Series 44 during their initial offer period from 19 March to 24 March 2008. It is a close-ended bond scheme offering an investment plan of 91 days maturity.

The scheme will be investing in a portfolio of government securities or highly rated corporate bonds maturing close to the maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The scheme will invest in debt securities with maturity coinciding closely with the maturity of the scheme, so as to minimise the impact of price fluctuation of such securities on the value of the security at maturity.

The scheme provides two plans i.e. retail and institutional plan with a sub-option of growth, dividend.

To provide liquidity to investors, the Fund proposes to provide repurchase facility in the scheme on 23 April, 23 May 2008, and 22 June 2008. If repurchase request is submitted after the date of allotment and on or before 22 June 2008 the applicable Contingent Deferred Sales Charge (CDSC) will be 1.00%. If repurchase request is submitted on 22 June 2008 and on or before 23 June 2008 there will be no CDSC.

Kotak MF Collects Rs.119 Crore Through Its FMP

Kotak Mutual Fund has collected Rs 119 crores via Kotak Fixed Maturity Plan –3 Months- Series 28 during their initial offer period from 13 March and closed 17 March 2008. It is a close-ended debt scheme.

The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. For the purpose of achieving the investment objective, the scheme will invest in a portfolio of debt and money market securities normally maturing in line with the maturity profile of the scheme. The fund will invest up to 100% in money market instruments and debt instruments.

If redemption is done before maturity, 1% an exit load will be charged.

Tata MF Declares Dividend

Tata Mutual Fund has announced the declaration of dividend under dividend option for Tata Dynamic Bond Fund-Option A. The record date is set as 8 April 2008. The AMC decided to distribute up to 100% of the net distributable surplus generated between 27 March 2008 to 8 April 2008 available as on record date as a dividend. The NAV for the scheme under dividend option was Rs.10.5204 as on 31 March 2008.

Tata Dynamic Bond Fund-Option A is an open-ended debt scheme launched. The objective of the scheme is to create a liquid portfolio of good quality debt as well as money market instruments so as to provide reasonable returns and high liquidity to the unit holders.

Sahara AMC Appoints New CEO

Sahara Asset Management Company has appointed Mr Naresh Kumar Garg as the Chief Executive Officer. Mr. Naresh Kumar Garg has vast experience in the mutual fund industry and has held important positions in the fund management of offshore funds, domestic equity funds, debt and hybrid funds.

Before Mr. Kumar as a CEO, Mr. Rajiv Shastri was Chief Executive Officer.

Kotak MF Collects Rs.285 Crore Through Its FMP

Kotak Mutual Fund has collected Rs 285 crores via Kotak Fixed Maturity Plan –13 Months- Series 4 during their initial offer period from 24 March and closed 27 March 2008. It is a close-ended debt scheme. The scheme will mature 13 months after the date of allotment.

The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. For the purpose of achieving the investment objective, the scheme will invest in a portfolio of debt and money market securities normally maturing in line with the maturity profile of the scheme. The fund will invest up to 100% in money market instruments and debt instruments.

The scheme provides two plans i.e. retail and institutional plan with a sub-option of growth and dividend payout and dividend reinvestment option.

If redemption is done within 1 year from the date of allotment 1.5% an exit load will be charged. And no exit load will be charged for redemption after 1 year.

DBS Chola MF declares dividend for its Interval Income Fund

DBS Chola Mutual Fund announced 4 April 2008 as the record date for declaration of dividend under dividend option of both retail and institutional plan of DBS Chola Interval Income Fund-Quarterly Plan B.

The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme was Rs.10.0146 as on 31 March 2008.

DBS Chola Interval Income Fund-Quarterly Plan B is an open-ended income scheme. The objective of the scheme is to generate regular income through investments in debt including securitised debt, money market and government securities normally maturing in line with the time profile of the respective plans and also with a provision to offer liquidity at periodic interval.

ICICI MF Declares Dividend

ICICI Mutual Fund has announced 7 April 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Fixed Maturity Plan-Series 39-Three Months Plan C.

The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme was Rs.10.1898 as on 26 March 2008.

ICICI Prudential Fixed Maturity Plan-Series Series 39-Three Months Plan C is a close-ended debt scheme. The investment objective of the scheme is to seek to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the plan.

The scheme charges 1% an exit load for redemptions made during repurchase facility period. Redemption on maturity, it may not ask for exit load.

Birla Sun Life MF Revises Load Structure

Birla Sun Life Mutual Fund has announced the revision in the entry load structure of Savings 5 Plan offered under Birla Monthly Income Plan-II, an open-ended income scheme.

According to the revised load structure, the fund will charge an entry load of 2.25% for purchases/switch- in of units. Before revision of the load structure, the fund was not asking an entry load.

There is no change in exit load i.e. Savings 5 Plan offered under the Birla Monthly Income Plan-II will not charge an entry load.

The aforesaid changes are to be done with effect from 3 April 2008.

DSP Merrill Lynch MF Rolls Out FMP

DSP Merrill Lynch MF has unveiled a new scheme called DSP Merrill Lynch Fixed Maturity Plan 6 Months Series 5 and it is a close-ended income schemes with maturity profile of 6 months.

The primary investment objective of the schemes is to seek capital appreciation by investing in a portfolio of debt and money market securities. It is envisaged that the portfolio of each Scheme will display a maturity profile that is generally in line with the Term of the scheme. The schemes may also use fixed income derivatives for hedging and portfolio balancing. Both funds will invest can invest up to 100% in debt instruments and up to 100% in money market. These schemes may invest up to a maximum of 100% of the scheme's net assets in domestic securitised debt.

The scheme has two plans i.e. regular and institutional plan. Both plans will provide growth and dividend reinvest option. There will no entry load charged for the schemes due to its close-ended structure.DSP Merrill Lynch FMP 6 Months Series 5 charges an exit load of 0.75%, if the investment is redeemed before the maturity date. The minimum investment amount under regular plan will be Rs. 25,000 and in multiples of Re. 1 thereafter for the scheme. The scheme will have the minimum investment amount under institutional plan of Rs.1 crore and in multiples of Re. 1 thereafter.

MFs Announce Attractive Dividends To Retain Investors

The mutual fund (MF) industry is all set to meet the redemption pressures in a volatile securities market. Mutual funds have more and more started announcing higher dividends to retain the retail investors in various schemes. The fund houses are announcing dividends ranging from 40% to 80% at the close of the current financial year on March 31, 2008. Principal PNB Mutual Fund has decided to pay 80-pc dividend on the Principal Tax Saving Fund, an open-ended equity linked tax saving scheme. The Net Asset Value (NAV) of the scheme as on date is Rs 64.23. The record date for the declaration of the dividend has been kept March 31, 2008. Likewise, Birla Sun Life Mutual Fund has announced to offer a dividend of 60% on its Birla Equity Fund. The NAV of the scheme is Rs 91.29. Commenting on the MF industry's decision to offer an attractive dividend, a senior fund manager from a domestic fund house said that a majority of MF schemes have witnessed a big dip in their Net Asset Value (NAV) due to the recent meltdown in the equity market. The market capitalisation (M-Cap) was hit due to the volatility in the market which was caused due to the sub-prime factor in the global market. Obviously, MF industry offering attractive incentives in form of dividends will certainly help the fund houses in retaining the retail investors in different schemes, he said. Among other fund houses, Kotak Mahindra Mutual Fund has offered a tax free dividend of 40% on its balanced fund. The NAV of the scheme is presently Rs 22.15.

Max New York Life Plans To Set Up More Offices

Max New York Life Insurance Co Ltd, a joint venture between New York Life and Max India Ltd, is planning to augment the number of its offices and agent advisors in the eastern region as part of its latest expansion plan, Mission Everest.

As per Mission Everest, the company plans to open 500 offices by 2011 to boost health and pension schemes. The mission also targets to increase the number of direct agents from the existing 30,000 to 2 lakh by 2011. At present, the eastern region has got 24 offices. Out Of that, three are in West Bengal.

Franklin Templeton MF Declares Dividend

Franklin Templeton Mutual Fund has announced the declaration of dividend for Templeton Fixed Tenure Fund-Series VII-370 Days Plan. The record date is set as 2 April 2008. The fund house has decided to distribute 100% of surplus as on record date on the face value of Rs 10.

Templeton Fixed Tenure Fund-Series VII-370 Days Plan is a close-ended income fund that seeks to provide investors steady returns.

Sundaram BNP Paribas MF Ties Up With Central Bank

Sundaram BNP Paribas Asset Management Company and Central Bank of India has signed a MoU to form a strategic distribution alliance.

Under this new arrangement, Central Bank of India will distribute the entire bouquet of Sundaram BNP Paribas mutual schemes across its branches and extension counters across major business cities in the country.