ICICI Mutual Fund Has Extended The Offer Period

ICICI Mutual Fund has extended the offer period for ICICI Fixed Maturity Plan Series 44-15 Months Plan. Now the offer would close on 5 June 2008 instead of 2 June 2008.

The scheme is a close-ended debt scheme. The investment objective of the plan is 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.

Being a close-ended scheme it cannot charge any entry load on subscription received. The scheme charges an exit load of 2.00% for redemption made during the repurchase facility period.

Face Value Of Rs 10 Per Unit For Reliance Interval Fund

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Interval Fund - Quarterly Interval Fund - Series III under both retail and institutional plan. The record date is set as 5 June 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. 10.1725 and that of institutional plan was Rs. 10.1741 as on 29 May 2008.

Reliance Interval Fund - Quarterly Interval Fund - Series III 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.

Deutsche MF Has Rolled Out A Fund

Deutsche MF has rolled out a fund called DWS Fixed Term Fund Series 51 and it is a close-ended debt fund with maturity of 370 days. The objective of the fund is to generate regular income by investing in fixed income securities and money market instruments, usually maturing in line with the time profile of the fund.

The investors will have the choice of two plans viz. regular plan and institutional plan. Each plans offers growth and dividend option. The dividend option offers sub option of dividend payout and re-investment. Both plans of the fund will invest up to 100% in domestic debt instruments including government securities and money market instruments and securitised debt. Investment in securitised debt would be up to a maximum of 70% of the net assets of the scheme. The scheme will invest in derivatives only for the purpose of hedging and portfolio balancing, as permitted under the Regulations and guidelines and the exposure to derivatives shall be restricted to 50% of the net assets of the scheme. The scheme will not invest in foreign securities and foreign securitised debt.

JM Financial MF Has Rolled Out JM Fixed Maturity Fund - Series XI

JM Financial MF has rolled out JM Fixed Maturity Fund - Series XI - Yearly Plan and the scheme is a close-ended income fund. The scheme will launch two 13 months plan with 395 days maturity and a yearly plan with 375 days maturity.

The investment objective of the scheme is to seek to generate regular returns through investments in fixed income securities normally maturing in line with the time profile of the respective plans. Under both plans, the fund will invest 65-100% in short term debt securities including fixed income derivatives, securitized debt and money market instruments. Also, it will have investment up to 35% in government securities. Allocation in securitised debt securities will not, normally exceed 80% of the net assets of the respective plans. Securitised debt will not include foreign securitised debt.

Mfs Were Net Sellers Of Shares Worth Rs 566.60 Cr

Mutual funds (MFs) bought shares worth a net Rs 185.40 crore on 28 May 2008 compared to their selling of Rs 94.50 crore on Tuesday, 27 May 2008. MFs' net inflow of Rs 185.40 crore on Wednesday 28 May 2008 was a result of gross purchases Rs 831.70 crore and gross sales Rs 646.30 crore. Sensex rose 249.78 points or 1.53% at 16,525.37 on that day. MFs were net sellers of shares worth Rs 566.60 crore in this month, till 28 May 2008.

Tata MF Has Rolled Out A New Fund

Tata MF has rolled out a new fund called Tata Fixed Investment Plan-2. The scheme is a close end debt scheme. The scheme has two plans -Plan A and Plan B with tenure of 13 months from the date of allotment.

The investment objective of the schemes is to generate income and / or capital appreciation by investing in wide range of debt and money market instruments. The scheme may invest up to a maximum of 50% of the scheme's net assets in domestic securitised debt. The fund will invest can invest up to 100% in debt and money market instruments and securitised debt. No investments would be made in foreign securitised debt. The scheme net assets will have a maximum derivative net position of 50% of the net assets of the scheme. Investment in derivative instruments may be done for hedging and Portfolio balancing.

SBI Debt Fund Series-90 Days-21

SBI Mutual Fund has announced dividend under dividend option of SBI Debt Fund Series-90 Days-21. The record date for dividend is 2 June 2008. The fund house has fixed 100% of distributable surplus as quantum of dividend. The scheme recorded NAV of Rs 10.2020 as on 21 May 2008. Pursuant to payment of dividend, the NAV of the scheme/option would fall to the extent of payout and statutory levy, if applicable.

SBI Debt Fund Series-90 Days-21 is a close-ended debt fund. The primary investment objective of the scheme is to provide regular income, liquidity and returns to the investors in a portfolio comprising in debt instruments such as government securities, AAA/ AA+ bonds and money market instruments.

HSBC Mutual Fund Has Collected Rs 215cr

HSBC Mutual Fund has collected Rs 215 crore through its Fixed Term Series 53 during its initial offer period. HSBC Fixed Term Series 53, a 370 days plan was opened for subscription from 23 May to 26 May 2008. It is a close-ended fixed term income funds.
The investment objective of the scheme 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. The scheme will have an investment in money market instruments and debt instruments where interest rate risk is relatively low to medium.

The scheme offers two plans i.e. regular and institutional plan. The scheme will have both growth and dividend option. Dividend reinvestment facility is available under dividend option. The scheme charges an exit load of 2.00% if the investment is redeemed before the maturity date. The scheme's fund mangers are Mr Alok Sahoo and Mr Suyash Choudhary.

ING MF Plans To Launch ING FMP-Series 53 To 55

ING MF plans to launch ING FMP-Series 53 to 55. It is a close-ended bond scheme. The scheme offers an investment plan of 366 days maturity. The scheme will investing 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 at maturity.

The investors will have the choice of two plan viz. retail plan and institutional plan with sub-option of growth and dividend. The scheme will invest up to 100% in debt securities and money market instrument including reverse repo. Debt securities may include securitised debt up to 100% of the net assets. Investments in derivatives instruments shall be to a maximum of 50% of the net assets of the scheme. The scheme will invest a higher proportion of its corpus in high and medium investment grade securities to ensure high running yield of the portfolio. Investment in money market instruments is for the purpose of meeting liquidity requirements. Nearing the completion of the scheme, the scheme may invest 100% of the portfolio in money market instruments so as to protect the interest of the investors.

Mfs Are Net Sellers Of Shares Worth Rs 657.80 Cr

Mutual funds (MFs) bought shares worth a net Rs 51.60 crore on 26 May 2008 compared to their buying of Rs 18.60 crore on Friday, 23 May 2008. MFs' net inflow of Rs 51.60 crore on Monday 26 May 2008 was a result of gross purchases Rs 538.30 crore and gross sales Rs 486.70 crore. Sensex lost 301.14 points or 1.81% at 16,348.50 on that day. MFs were net sellers of shares worth Rs 657.80 crore in this month, till 26 May 2008.

Quantum MF Has Rolled Out A New Scheme

Quantum MF has rolled out a new scheme called Quantum Index Fund and it is an open-ended Exchange Traded Fund. The principal investment objective of the scheme is to invest in stocks of companies comprising S&P CNX Nifty Index and endeavor to achieve return equivalent to Nifty by "passive" investment.

The net assets of the scheme will be invested predominantly in stocks constituting the S&P CNX Nifty and / or in S&P CNX Nifty exchange traded derivatives. This would be done by investing in almost all the stocks comprising the S&P CNX Nifty in approximately the same weightage that they represent in the S&P CNX Nifty Index and / or investing in S&P CNX Nifty exchange traded derivatives. A small portion of the net assets may be invested in money market instruments, CBLO, corporate debt securities, other debt instruments, including Mibor linked instruments, securitised debt instruments, and liquid schemes of mutual funds to meet the liquidity requirements of the schemes. The scheme will invest 90%-100% in securities covered by the S & P CNX Nifty. The scheme will invest 0-10% in money market instruments, other short-term debt instruments. Investments in securitized debt instruments can be made by the scheme up to 5% of the total net assets of the scheme.

DSP Merrill Lynch MF Has Rolled

DSP Merrill Lynch MF has rolled out a fund called DSP Merrill Lynch Fixed Maturity Plan 3 Months Series 9 and it is a close-ended income schemes with maturity profile of 3 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.

Jm Interval Fund-Quarterly Plan 6

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 6. The record date for dividend will be 29 May 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 10.1518 under regular plan and Rs 10.1565 under institutional plan as on 22 May 2008.
JM Interval Fund-Quarterly Plan 6 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.

Mfs Bought Shares Worth A Net Rs 18.60 Crore

Mutual funds (MFs) bought shares worth a net Rs 18.60 crore on 23 May 2008 compared to their selling of Rs 92.20 crore on Thursday, 22 May 2008. MFs' net inflow of Rs 18.60 crore on Friday 23 May 2008 was a result of gross purchases Rs 564.20 crore and gross sales Rs 545.60 crore. Sensex lost 257.47 points or 1.52% at 16,649.64 on that day. MFs were net sellers of shares worth Rs 709.40 crore in this month, till 23 May 2008.

Mutual Funds Pressed Sales In Equities

Mutual funds pressed sales in equities for a third day in a row on 22 May 2008. Mutual funds sold shares worth a net Rs 92.20 crore Thursday, compared to outflow of Rs 44.50 crore on Wednesday, 21 May 2008. Mutual funds had pressed sales worth a net Rs 488.70 crore on Tuesday, 20 May 2008. Mutual funds' outflow of Rs 92.20 crore on Thursday, 22 May 2008, was a result of gross purchases Rs 548.80 crore and gross sales Rs 640.90 crore. Sensex lost 336.05 points or 1.95% at 16,907.11 on that day. Mutual funds' outflow reached Rs 728.30 crore in the month of May 2008, till 22 May 2008. Mutual funds had sold shares worth a net Rs 111.50 crore in April 2008. They had offloaded shares worth Rs 1971.30 crore in March 2008.

Pnb Fixed Maturity Plan-91 Days-Series Xiii

The Principle PNB mutual fund has announced the declaration of dividend under dividend option of Principle PNB Fixed Maturity Plan-91 Days-Series XIII. The record date for dividend will be 28 May 2008. The AMC plans to distribute net appreciation in the NAV of dividend option from the date of allotment i.e. 28 February 2008 (after considering the reduction in NAV due to payment of dividend declared on 20 March 2008) will be paid as dividend. The NAV of the scheme was recorded at Rs 10.1898 as on 23 May 2008. Principle PNB Fixed Maturity Plan-91 Days-Series XIII is close-ended debt scheme with an investment objective of building an income-oriented portfolio and providing returns along with regular liquidity to investors.

SEBI Has Asked Fund Houses To File A Single SAI

In order to make offer documents (ODs) and Key Information Memorandum (KIM) more reader friendly, Securities And Exchange Board of India (SEBI) has given its nod to mutual fund houses to simplify it. A committee set up by the Association of Mutual Funds in India (AMFI) had recommended that the existing offer documents may be split into two parts namely Statement of Additional Information (SAI), which will incorporate all statutory information on mutual funds, and Scheme Information Document (SID).

All mutual fund scheme ODs filed with SEBI on or after 1 June 2008 will have to be prepared in the new set-up. Fund houses, which have already filed their ODs for which SEBI has not yet suggested changes, may be required to modify the same in the format of SID and SAI after receiving the final observations. However, the schemes, which have already received final observations from SEBI, can use the old OD format provided they are launched on or before 31 July 2008. But, in this case SID has to be adopted. SEBI has asked fund houses to file a single SAI (common for all the schemes) as a one-time filing. The SAI shall be filed along with the first draft SID for any scheme filed on or after 1 June 2008.

Pnb Fixed Maturity Plan-91 Days-Series Xiii

The Principle PNB mutual fund has announced the declaration of dividend under dividend option of Principle PNB Fixed Maturity Plan-91 Days-Series XIII. The record date for dividend will be 28 May 2008.
The AMC plans to distribute net appreciation in the NAV of dividend option from the date of allotment i.e. 28 February 2008 (after considering the reduction in NAV due to payment of dividend declared on 20 March 2008) will be paid as dividend. The NAV of the scheme was recorded at Rs 10.1898 as on 23 May 2008.

Principle PNB Fixed Maturity Plan-91 Days-Series XIII is close-ended debt scheme with an investment objective of building an income-oriented portfolio and providing returns along with regular liquidity to investors.

Deceleration Of Dividend In Birla Dynamic Bond Fund

Birla Sun Life Mutual Fund has approved 28 May 2008 as the record date for deceleration of dividend in Birla Dynamic Bond Fund. The fund house has declared dividend up to 0.80% (Rs 0.08 per unit on the face value of Rs 10) under retail plan of the scheme with quarterly dividend option. The final rate of dividend on units will be declared based on availability of distributable surplus, on the record date.
The scheme recorded unit NAV of Rs 10.5883 as on 22 May 2008. After the payment of dividend, the NAV will fall to the extent of the payout and statutory levy, if any.

Birla Dynamic Bond Fund is an open-ended income scheme with an investment objective of generating optimal returns with high liquidity through active management of the portfolio by investing in high quality debt and money market Instruments.

Hdfc Fixed Maturity Plan 90 Days May 2008 (4)

Name of fund: HDFC Fixed Maturity Plan 90 Days May 2008 (4).
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: HDFC Fixed Maturity Plans- 90 Days May 2008 (4) offers wholesale plan and retail plan with growth and dividend option.

The Minimum Investment Amount: Under retail Plan: Rs. 5,000 and in multiple 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

Face value: Rs 10

Offer opens: 28 May 2008

Offer closes: 2 June 2008

Entry load: Nil

Exit load: HDFC Fixed Maturity Plans- 90 Days May 2008 (4) would charge an exit load of 0.75% if the units are redeemed or switched out before maturity.

Fund Manager: Mr. Shobhit Mehrotra

Tata MF Announces The Declaration Of Dividend

Tata Mutual Fund has announced the declaration of dividend under dividend option for Tata Fixed Income Portfolio Fund-Series B2. The record date is set as 28 May 2008. The AMC decided to distribute up to 100% of the net distributable surplus generated between 1 March 2008 to 28 May 2008 will be distributed as dividend.
The NAV for the scheme under regular quarterly dividend option was Rs.10.2215 as on 21 May 2008. The NAV for the scheme under institutional quarterly dividend option was Rs.10.2220 as on 21 May 2008.

Tata Fixed Income Portfolio Fund-Series B2 is a close-ended debt scheme launched in November 2007. The scheme aims to generate returns and / or capital appreciation along with minimization of interest rate risk by investing predominantly in a portfolio of debt and money market instruments.

In order to achieve its investment objective, the scheme will invest predominantly in a portfolio of debt and money market instruments. In order to control the interest rate risk, average maturity of the portfolio will not exceed 150 days.

Joint Venture Between Fullerton Fund Management Group

Lotus India AMC, a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide, announced the launch of Lotus India Banking Fund, an Open-Ended Banking Sector Fund. Speaking on the occasion, Mr. Ajay Bagga, Chief Executive Officer - Lotus India AMC said, "From a Banking and Financial Services perspective, India is an under penetrated market. This offers tremendous growth potential for this sector. Consistent and high economic growth in India over the recent past has led to robust growth in banking assets. Further, the Indian Banking and Financial Services sector has largely been unaffected by the global credit crisis due to its strong fundamentals.

Sebi To Launch UTI Short Term Fixed Maturity Plan

UTI Mutual Fund filed offer document with Sebi to launch UTI Short Term Fixed Maturity Plan - Series I. It's a close-ended income scheme. The scheme aims to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity period of the plan. The scheme offers regular plan and institutional plan, which further offers growth option and dividend option. The dividend option offers dividend payout and dividend re-investment facilities. The scheme will invest 10%-100% in money market instruments. It will invest up to 90% in government securities issued by central &/or state govt. & other fixed income/debt securities including but not limited corporate bonds and securitised debt.

DSP ML MF Has Declared A Dividend Of 50%

DSP ML Mutual Fund has declared a dividend of 50% i.e. Rs 5 per unit on face value of Rs 10 in its open ended growth scheme - DSP-ML Top 100 Equity Fund. The objective of the scheme is to generate capital appreciation from a portfolio that is substantially constituted of equity and equity related securities of the 100 largest corporates by market capitalisation listed in India. The record date for dividend is 23 May 2008. All unit holders registered under the dividend option of the scheme as on record date will be eligible for this dividend. The NAV of the scheme under dividend option as on 16 May 2008 was Rs 24.612.

Standard Chartered MF launches Standard Chartered FMP Quarterly Series 291

Standard Chartered Mutual Fund launched Standard Chartered Fixed Maturity Plans Quarterly Series 291. The scheme is close-ended income scheme. The duration of the scheme is from the date of allotment i.e.26 June 2008 to 21 August 2008 i.e. date of maturity. The investment objective of the Scheme is to seek to generate income by investing in a portfolio of debt and money market instruments.

Sebi To Launch Kotak Nifty Exchange Traded Fund

Kotak Mahindra Mutual Fund filed offer document with Sebi to launch Kotak Nifty Exchange Traded Fund. It's an open-ended exchange traded fund. The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the S&P CNX Nifty subject to tracking errors. The scheme will invest 90% - 100% in stocks comprising S&P CNX Nifty with medium to high-risk profile. It can also invest up to 10% in debt and money market instruments with low risk profile.

With Sebi To Launch JP Morgan India Alpha Fund

JP Morgan Mutual Fund filed offer document with Sebi to launch JP Morgan India Alpha Fund. It's an equity oriented interval scheme. The investment objective the scheme is to achieve a total return in excess of the return on short-term instruments through a market-neutral strategy of buying and selling equity and equity linked securities. The strategy is designed to remain broadly market neutral for investors with a medium to long-term horizon.

With Sebi To Launch JP Morgan India Alpha Fund

JP Morgan Mutual Fund filed offer document with Sebi to launch JP Morgan India Alpha Fund. It's an equity oriented interval scheme. The investment objective the scheme is to achieve a total return in excess of the return on short-term instruments through a market-neutral strategy of buying and selling equity and equity linked securities. The strategy is designed to remain broadly market neutral for investors with a medium to long-term horizon.

Franklin Templeton MF Has Announced The Declaration Of Dividend

Franklin Templeton Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Franklin Templeton Fixed Tenure Fund- Series V - 13 Months Plan. The record date is set as 23 May 2008. The fund house has decided to distribute 100% of surplus available under option as on record date. Franklin Templeton Fixed Tenure Fund- Series V - 13 Months Plan is a close ended income scheme that seeks to provide investors steady returns.

ICICI MF Investing In Debt Securities And Money Market Securities.

ICICI Mutual Fund has announced 23 May 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Interval Fund II - Quarterly Interval Plan C. The fund house has decided to distribute 100% of surplus available as on record date for both the schemes. The NAV for ICICI Prudential Interval Fund II - Quarterly Interval Plan C was Rs. 10.1338 as on 15 May 2008. The scheme is debt oriented interval schemes with an objective to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

Birla Sun Life MF Announced To Declare Dividend

Birla Sun Life Mutual Fund (MF) announced to declare dividend, under the dividend option of Birla Sun Life Quarterly Interval Fund- Series 3. The fund house fixed 22 May 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. The NAV of the scheme under both retail and institutional plan stood at Rs 10.1478 as on 15 May 2008. All unit holders registered on or before the record date will be eligible to receive the dividend.

Birla Sun Life MF Declares Dividend For Quarterly Interval Fund

Birla Sun Life Mutual Fund (MF) announced to declare dividend, under the dividend option of Birla Sun Life Quarterly Interval Fund- Series 3.

The fund house fixed 22 May 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. The NAV of the scheme under both retail and institutional plan stood at Rs 10.1478 as on 15 May 2008.

All unit holders registered on or before the record date will be eligible to receive the dividend.

ICICI Mutual Fund Declares Dividend

ICICI Mutual Fund has announced 22 May 2008 as the record date for declaration of dividend under dividend options of ICICI Prudential Fixed Maturity Plan-Series 38- One Year Plan A and of ICICI Prudential Fixed Maturity Plan-Series 42- Three months Plan A. The fund house has decided to distribute 100% of surplus available as on record date for both the schemes. The NAV for the ICICI Prudential Fixed Maturity Plan-Series 38- One Year Plan A - retail plan was Rs. 11.0059 and that of under institutional plan was Rs 11.0383 as on 14 May 2008. The NAV for the ICICI Prudential Fixed Maturity Plan-Series 42- Three months Plan A - was Rs. 10.1325 as on 14 May 2008.

HDFC Mutual Fund Launched HDFC Fixed Maturity Plan

HDFC Mutual Fund launched HDFC Fixed Maturity Plan 370 Days May 2008 (3). The scheme is of close-ended income nature. The investment objective of the fund is to generate regular income through investments in debt, money market instruments, and government securities. HDFC Fixed Maturity Plans- 370 Days May 2008 (3) offers wholesale plan and retail plan with growth and dividend option.

Standard Chartered MF Declares Dividend

Standard Chartered Mutual Fund has announced 20 May 2008 as the record date for declaration of dividend under dividend option of Standard Chartered Fixed Maturity Plan -Quarterly Series 25. The AMC plans to distribute entire appreciation in the NAV of dividend option between 31 March 2008 and 20 May 2008 as dividend the scheme. The investment objective of the schemes is to generate income by investing in a portfolio of debt and money market instruments normally in line with the duration of the schemes.

Equity MF Inflow Low

There are no safe bets in a volatile market not even mutual funds as retail investors are shying away from the equity markets and the latest data clearly suggests that equity mutual fund inflows have hit a 6-month low last month.In April 2008 equity mutual fund inflows stood at Rs 530 crore as compared to the figure of Rs 6756 crore in the month of March, a decline of over 92 per cent. The assets under management for equity mutual funds have slipped 3.6 per cent to Rs 4288 crore in the past one month partly due to the drying up of new fund offerings in these uncertain times. Experts say the underperformance is also linked to schemes like the Reliance Natural Resources Fund, which are sitting on upto 60 per cent in cash.

HDFC MF Declares Dividend

HDFC Mutual Fund has announced 20 May 2008 as the record date for declaration of dividend under dividend option of HDFC Fixed Maturity Plan 181 Days November 2007 and HDFC Fixed Maturity Plan 90 Days January 2008 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 HDFC Fixed Maturity Plan 181 Days November 2007 under retail was Rs. 10.3223 and that of under wholesale plan is Rs 10.3246 as on 13 May 2008.

The NAV for HDFC Fixed Maturity Plan 90 Days January 2008 under retail and wholesale plan is Rs 10.2169 as on 13 May 2008. HDFC Fixed Maturity Plan 181 Days November 2007 and HDFC Fixed Maturity Plan 90 Days January 2008 are the close-ended income schemes. The investment objective of both the schemes is to seek to generate income by investments in debt, money market instruments, and government securities.

ING MF Announced Dividend For ING Fixed Maturity Plan

ING India Mutual Fund has announced 20 May 2008 as the record date for declaration of dividend under dividend option of ING Fixed Maturity Plan - Series 36 and ING Fixed Maturity Plan - Series 42. The AMC plans to distribute entire appreciation in the NAV of dividend option from the date of allotment to 20 May 2008 as dividend.

The NAV under retail plan of ING Fixed Maturity Plan - Series 36 is Rs 10.1793 while under institutional level is Rs 10.1803 as on 13 May 2008. The NAV under retail plan of NG Fixed Maturity Plan - Series 42 is Rs 10.1625 while under institutional level is Rs 10.1634 as on 13 May 2008. ING Fixed Maturity Plan - Series 36 and ING Fixed Maturity Plan - Series 42 are the close -ended schemes offering an investment plan of 91 days maturity, 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 For Tata Fixed Horizon Fund

Tata Mutual Fund has announced the declaration of dividend under dividend option for Tata Fixed Horizon Fund-Series 17-Scheme D. The record date is set as 20 May 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 retail option was Rs.11.1312 as on 13 May 2008. The NAV for the scheme under institutional option was Rs.11.1313 as on 13 May 2008. Tata Fixed Horizon Fund-Series 17-Scheme D 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.

SBI MF Announced Dividend

SBI Mutual Fund has announced dividend under dividend option of SBI Debt Fund Series-15 Months-3. The fund house has fixed 100% of distributable surplus as quantum of dividend. The record date for dividend is 20 May 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 10.4058 per unit as on 7 May 2008.

ABN Amro MF Launches Short Term Plan

ABN Amro MF has unveiled a fund called ABN Amro Flexible Short Term Plan - Series A and it is a debt oriented interval fund. The primary objective of the scheme is to seek to generate steady returns through investments made in a basket of fixed income securities, with a provision to offer liquidity at periodic interval.

Irda Committee Recommends Changes In Distribution

Hyderabad: The Committee on Distribution Channels, constituted by the Insurance Regulatory and Development Authority (Irda), has come out with a recommendation that banks should not have referral arrangements with more than one life insurer and a non-life insurer. And also, the panel recommended a radical reduction in the capital required for a corporate agent from Rs 15 lakh to Rs 1 lakh. In its 60-page report, the 10-member committee constituted under the chairmanship of NM Govardhan, former chairman of LIC, stated that urban cooperative banks, regional rural banks, microfinance institutions registered with the RBI and non-government organisations registered as trusts should be permitted to distribute micro insurance policies.

The report also stated that a customer who buys through the telecalling mode should be provided a printed copy of the caller's questions and the resultant responses. In case of e-mail interactions, encryption should be used to protect the target person's privacy.The committee has made over two dozen recommendations on retail products with the intention of increasing the penetration of general insurance in the country. Another member, chief executive officer of IFFCO-Tokio General Insurance Company Limited, S Narayanan, also submitted a dissenting note.

ING MF Files Offer Document With Sebi

ING MF is looking at unveiling US Opportunistic Equity Fund. It is an open-ended fund of fund scheme. The scheme will investing predominantly in ING (L) Invest US Opportunistic Equity fund (a Luxembourg based fund) with an primary investment objective of providing long-term capital appreciation by investing primarily in a diversified portfolio of big capitalisations issued by companies established, listed or traded or which have a major portion of their business activity in the United States of America. The scheme may also invest a certain portion of its corpus in money market securities, in order to meet liquidity requirements from time to time.

The investors will have the choice of three options viz. dividend option, bonus option and growth option. The dividend option will have two sub options i.e. dividend payout option and dividend reinvestment option. The scheme will invest 65-100% in ING (L) Invest US Opportunistic Equity fund. It will invest up to 20% in money market instruments including reverse repo. The investment in to other overseas mutual fund schemes will be between up to 35%.

ICICI MF Revises Load Structure Under Growth Plan

According to the latest addendum from the ICICI mutual fund, it has decided to revise the load structure under the growth plan of all investment under growth plan. Accordingly for all investments under Rs 5 crore under the scheme excluding investment made through systematic investment plan and systematic transfer plan will not charge any exit load. The changes will be effective from 12 May 2008.

Birla Sun Life MF Revises Offer Document For Liquid Plus Fund

Birla Sun Life mutual fund has decided to revise the offer document of Birla Sun Life Liquid Plus Fund - an open-ended short-term income scheme. According to the revision the fund will carry a reinvestment facility under its monthly dividend option along with the payout facility. The changes will be applicable under both plans i.e. regular and institutional plan. The changes will be effective from 12 May 2008.

Mfs Sold Shares Worth A Net Rs 333.50 Cr

Mutual funds (MFs) sold shares worth a net Rs 333.50 crore on Friday 9 May 2008 compared to their selling of Rs 83.40 crore on Thursday, 8 May 2008. MFs' net outflow of Rs 333.50 crore on Friday 9 May 2008 was a result of gross purchases Rs 539.50 crore and gross sales Rs 873 crore. Sensex lost 343.58 points or 2.01% at 16,737.07 on that day. MFs were net sellers of shares worth Rs 400.90 crore in this month, till 12 May 2008.

Birla Sun Life MF Revises Offer Document For Liquid Plus Fund

Birla Sun Life mutual fund has decided to revise the offer document of Birla Sun Life Liquid Plus Fund – an open-ended short-term income scheme. According to the revision the fund will carry a reinvestment facility under its monthly dividend option along with the payout facility. The changes will be applicable under both plans i.e. regular and institutional plan.

The changes will be effective from 12 May 2008.

ICICI MF Revises Load Structure Under Growth Plan

According to the latest addendum from the ICICI mutual fund, it has decided to revise the load structure under the growth plan of all investment under growth plan. Accordingly for all investments under Rs 5 crore under the scheme excluding investment made through systematic investment plan and systematic transfer plan will not charge any exit load.

The changes will be effective from 12 May 2008.

SBI MF Declared A Dividend Of 40%

SBI MF declared a dividend of 40% (Rs 4 per unit on face value of Rs 10) in its open-ended Magnum Sector Fund Umbrella - SBI Magnum Contra Fund. The record date for the same is 16 May 2008.The NAV under for the scheme is Rs 31.95 as on 8 May 2008.

The investment objective of the scheme is to invest in undervalued scrips, which may be currently out of favour but are likely to show attractive growth in long term.

The last dividend announced by the scheme was of 40% on 11 May 2007.

Kotak MF Declares Dividend

Kotak Mutual Fund has declared dividend under the dividend option of Kotak Quarterly Interval Plan Series 6.

The fund house has fixed 14 May 2008 as the record date for the payment of dividend. It proposes the entire distributable surplus available on the record date, as dividend subject to deduction of applicable dividend distribution tax.

Pursuant to payment of dividend, the NAV would fall to the extent of dividend payout and statutory levy, if applicable. All unit holders registered on or before the record date would be eligible to receive the dividend.

The NAV of the scheme was recorded at Rs 10.1079 as on 7 May 2008.

ICICI MF Declares Dividend Under Interval Plan

ICICI Mutual Fund has announced 15 May 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Interval Fund – Quarterly Interval Plan I.

The fund house has decided to distribute 100% of surplus available as on record date for both the schemes. The NAV for ICICI Prudential Interval Fund – Quarterly Interval Plan I was Rs. 10.1081 as on 29 April 2008.

ICICI Prudential Interval Fund – Quarterly Interval Plan I is a debt oriented interval scheme with an objective to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

Mirae MF Revises Load Structure For Asset Liquid Plus Fund

Mirae Mutual Fund has announced the revision in the exit load structure for Mirae Asset Liquid Plus Fund.

According to the revised load structure, the fund will charge an exit load of 0.10% if the investment is redeemed within 7 days from the date of allotment. Before revision of the load structure, the fund was charging an exit load of 0.10% if the investment is redeemed within 30 days from the date of allotment.

There is no change in entry load i.e. the Mirae Asset Liquid Plus Fund will not charge an entry load.

The aforesaid changes are to be done with effect from 12 May 2008.

Dividend Declared By JM Financial MF

The JM Financial mutual fund has announced the declaration of dividend under dividend option of JM Interval Fund -Quarterly Plan 3. The record date for dividend will be 12 May 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 for retail plan was recorded at Rs 10.0984 while the NAV under institutional plan was recorded at Rs 10.1017 as on 6 May 2008.

Mutual Funds Continue Selling

Mutual funds (MFs) sold shares worth a net Rs 23.10 crore on Wednesday 7 May 2008 compared to their selling of Rs 26.50 crore on Tuesday, 6 May 2008. MFs' net outflow of Rs 23.10 crore on Wednesday 7 May 2008 was a result of gross purchases of Rs 612.40 crore and gross sales Rs 635.50 crore. Sensex fell 33.70 points or 0.19% at 17,339.31 on that day.

AMC Plans To Distribute Entire Appreciation In The NAV

ING India Mutual Fund has announced 12 May 2008 as the record date for declaration of dividend under dividend option of ING Fixed Maturity Plan - Series 41. The AMC plans to distribute entire appreciation in the NAV of dividend option from the date of allotment to 12 May 2008 as dividend. The NAV under the scheme is Rs 10.1364 as on 5 May 2008. ING Fixed Maturity Plan - Series 41 is a close -ended scheme offering an investment plan of 92 days maturity, 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.

Reliance MF Has Announced The Declaration Of Dividend

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Fixed Horizon Fund- III- Annual Plan -Series I under both retail and institutional plan. The record date is set as 12 May 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. 10.1354 and that of under institutional plan was Rs. 10.1368 as on 5 May 2008. Reliance Fixed Horizon Fund- III- Annual Plan -Series I 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.

ING MF Declares Dividend Under ING FMP – Series 41

ING India Mutual Fund has announced 12 May 2008 as the record date for declaration of dividend under dividend option of ING Fixed Maturity Plan - Series 41.

The AMC plans to distribute entire appreciation in the NAV of dividend option from the date of allotment to 12 May 2008 as dividend. The NAV under the scheme is Rs 10.1364 as on 5 May 2008.

ING Fixed Maturity Plan - Series 41 is a close -ended scheme offering an investment plan of 92 days maturity, 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.

Reliance MF Has Announced The Dividend On Face Value Of Rs 10

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Fixed Horizon Fund- III- Annual Plan -Series I under both retail and institutional plan. The record date is set as 12 May 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. 10.1354 and that of under institutional plan was Rs. 10.1368 as on 5 May 2008.

Reliance Fixed Horizon Fund- III- Annual Plan -Series I 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

Asset Base Of Mutual Fund Industry Grew By 7.32 Pc

Mumbai: The asset base of the mutual fund industry grew by 7.32 per cent during April, the first month of the current fiscal. It increased by Rs 38,744.91 crore in April, according to the data released by the Association of Mutual Funds in India (AMFI). The MF industry now has Rs 5,67,601.98 crore of assets under management, against Rs 5,28,857.07 crore at March end. The most banks had drew their money in March and that money came back in April.

Mfs Sold Shares Worth Rs 76.20 Crore On Friday

Mutual funds (MFs) sold shares worth a net Rs 76.20 crore on Friday 2 May 2008. MFs' net outflow of Rs 76.20 crore on Friday 2 May 2008 was a result of gross purchases of Rs 866.70 crore and gross sales Rs 942.90 crore. Sensex rose 312.81 points or 1.81% at 17,600.12 on that day.

Birla MF Declared Dividend Under Fixed Term Plan-Series P

Birla Mutual Fund has declared dividend under Birla Fixed Term Plan-Series P. The fund house has announced 9 May 2008 as the record date for distribution of dividend under of 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 11.1977 per unit as on 30 April 2008. All unit holders whose name appears in the register of unit holders of the schemes at the close of business hours on the record date shall be eligible to receive the dividend so declared.

Tata MF Offer Document To Launch Fixed Horizon Fund Series 18

Tata Mutual Fund filed offer document to launch Fixed Horizon Fund Series 18 Tata Fixed Horizon Fund - Series 18. It is a close-ended debt scheme with 4 sub option of A, B, C, D with a maturity of 13 months from the date of allotment. The investment objective of the schemes is to generate income and / or capital appreciation by investing in wide range of debt and money market instruments.

ABN Amro MF Offer Document To Launch ABN Amro Interval Fund

ABN Amro Mutual Fund filed offer document to launch ABN Amro Interval Fund - Series 2. The scheme offers three plans viz. half yearly plan, quarterly plan and monthly plan. The half yearly plan will have two sub plans i.e. Plan A and B. The quarterly plan will have two sub plans i.e. Plan M and N. The monthly plan will have Plan C. Each series will have two sub options i.e. growth and dividend. The minimum application amount for the scheme is Rs. 10000 and in multiple of Re 1 thereafter.

Reliance MF Declares Face Value Of Fixed Horizon Fund

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Fixed Horizon Fund- III- Annual Plan -Series I under both retail and institutional plan. The record date is set as 8 May 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. 10.1820 and that of under institutional plan was Rs. 10.1645 as on 30 April 2008.

UTI MF Announced UTI Dividend Yield Fund

The UTI mutual fund has announced the declaration of dividend under dividend option of UTI Dividend Yield Fund. The record date for dividend will be 9 May 2008. The quantum of dividend is 7% i.e. Rs. 0.70 per unit on the face value of Rs. 10. The NAV of the scheme was recorded at Rs 12.88 as on 30 April 2008.

UTI Dividend Yield Fund is open-ended equity fund with an aim to provide medium to long term capital gains and dividend distribution by investing predominantly equity and equity-related securities, which offer high dividend yield.

Birla MF Load Structure Of Birla Dynamic Bond Fund

Birla Mutual Fund has revised the load structure of Birla Dynamic Bond Fund, an open-ended income scheme. With effect from 5 May 2008, the scheme charged an exit load of 2.00% of applicable NAV for unit’s redeemed/switched out within 180 days from the date of allotment. Earlier the scheme will charge an exit load of 0.20% of applicable NAV for unit’s redeemed/switched out within 30 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 5 May 2008.

ICICI MF Announced Interval Plans

ICICI Mutual Fund has announced 7 May 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Interval Fund II – Quarterly Interval Plan B and ICICI Prudential Interval Fund – Half Yearly Interval Plan II.

The fund house has decided to distribute 100% of surplus available as on record date for both the schemes. The NAV for ICICI Prudential Interval Fund II – Quarterly Interval Plan B was Rs. 10.0901 while for Interval Fund – Half Yearly Interval Plan II was Rs 10.3894. Both the NAV are as on 29 April 2008.

Both the schemes are debt oriented interval schemes with an objective to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities

Face Value Of Rs 10 Per Unit For Templeton Quarterly Interval Plan- Plan A

Franklin Templeton Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Templeton Quarterly Interval Plan- Plan A. The record date is set as 7 May 2008. The fund house has decided to distribute 100% of surplus available under option as on record date.

Templeton Quarterly Interval Plan- Plan A is an interval income fund that seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities.