Deutsche MF Files Offer Document - June 30 , 2008

Deutsche Mutual Fund filed offer document to launch DWS Dual Advantage Fund-Series 1-Plan A & B.

The scheme is close-ended debt fund with a duration of 12-36 months.

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

Under plan A the scheme will invest up to 100% in domestic debt instruments including government securities & money market instruments and securitised debt including cash and cash equivalents.

Investment in securitised debt and equity-linked debentures would be up to a maximum of 100% of the net assets.

Deutsche MF Files Offer Document With Sebi - June 30, 2008

Deutsche Mutual Fund filed offer document with Sebi to launch Deutsche DWS Dual Advantage Fund-Series 2-Plan A & B.

The scheme is close-ended debt fund with a duration of 12-36 months. The investment 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.

The scheme offers dividend and growth option The dividend option will further provide a sub option of payout.

IDFC MF Extends NFO Period Of IDFC:FMP:QS30 - June 30, 2008

IDFC Mutual Fund has decided to extend the New Fund Offer (NFO) of IDFC Fixed Maturity Plan-Quarterly Series 30 (IDFC-FMP-QS30).

The fund will now close for subscription on 2 July 2008 (instead of 30 June 2008).

Consequently, the maturity date of the scheme has also been revised to 30 September 2008. IDFC-FMP-QS30 is a close ended income scheme.

The objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments.

Tata MF Declares Dividend Under Dynamic Bond Fund - June 28, 2008

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 2 July 2008. The AMC decided to distribute up to 100% of the net distributable surplus generated between 2 June 2008 to 2 July 2008 available on the record date will be distributed as dividend. The NAV for the scheme under dividend option was Rs.10.6346 as on 25 June 2008. Tata Dynamic Bond Fund - Option A is an open-ended debt scheme with an aim 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.

UTI MF Declares Dividend Under FMP - June 28, 2008

UTI Mutual Fund has announced the dividend under dividend option of UTI Fixed Maturity Plan - Yearly Series June - 07. The record date for the declaration of dividend is 3 July 2008. The quantum of dividend will be 100% of distributable surplus available on the record date.

The NAV for the scheme under retail plan was at Rs 10.8250 as on 25 June 2008. UTI Fixed Maturity Plan-Yearly Series June - 07 was launched in June 2007.

It is a close-ended umbrella income scheme seeking to generate regular income through investments in a debt or money market instruments and government securities with suitable maturity. The scheme will charge exit load as 2% of the NAV if redeemed on or before 365 days from the date of closure of the plan and no load thereafter.

Reliance MF Declares Dividend Under Quarterly Interval Fund - June 28, 2008

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 I.

The dividend is declared under both the retail plan and institutional plan. The record date is set as 2 July 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. 10.2134 and that of under institutional plan was Rs. 10.2140 as on 25 June 2008. Reliance Interval Fund - Quarterly 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.

ABN Amro MF Changes Name Of Its Asset Management - June 27, 2008

ABN Amro mutual fund announced that ABN Amro Asset Management (India) Limited, a public limited company is converted to a private limited company ABN Amro Asset Management (India) Private Limited.

Birla Sun Life Mutual Fund Announced To Declare Dividend - June 27 , 2008

Birla Sun Life Mutual Fund announced to declare dividend under institutional plan with dividend reinvestment option of both the Birla Sun Life Interval Income Fund-Quarterly Plan-Series II and - Birla Sun Life Interval Income Fund-Quarterly Plan-Series III.

The fund house fixed 30 June 2008 as the record date for the declaration of dividend under both the schemes.

The NAV of Birla Sun Life Interval Income Fund-Quarterly Plan-Series II was Rs 10.0940 and that of under Birla Sun Life Interval Income Fund-Quarterly Plan-Series III was Rs 10.0790 as on 24 June 2008. Both the schemes are is an open-ended interval income schemes.

The primary objective of the scheme is to generate regular income through investment in debt and money market instruments.

Mutual Funds Continue Buying - June 27, 2008

Mutual funds (MFs) bought shares worth a net Rs 324.70 crore on Wednesday 25 June 2008 compared to their buying of Rs 211.30 crore on Tuesday, 24 June 2008. MFs' net inflow of Rs 324.70 crore on Wednesday 25 June 2008 was a result of gross purchases Rs 976.20 crore and gross sales Rs 651.50 crore. Sensex gained 113.49 points or 0.80% at 14,220.07 on that day. MFs were net buyers of shares worth Rs 2608.30 crore in this month, till 25 June 2008.

HSBC MF Launches Fixed Term Series 55 - June 26, 2008

HSBC MF has launched HSBC Fixed Term Series 55 and it is a close-ended income scheme with tenure of 6 months from the date of allotment. 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 may invest up to 100% in money market instruments including CBLO and reverse repo. It may invest up to 100% in short term and medium term debt instruments and securitised debt. The investment in securitised debt will not exceed 50% of the net asset of the scheme. The net notional exposure to derivatives shall not be more than 50% of the net assets. Under normal circumstances, the scheme shall not have an exposure of more than 50% of its net assets in foreign securities

JP Morgan MF Launches India Liquid Plus Fund - June 26, 2008

JP Morgan MF launches JP Morgan India Liquid Plus Fund and it is an open-ended income scheme. The investment objective is to provide liquidity and optimal returns to the investors by investing primarily in a mix of short term debt and money market instruments which results in a portfolio having marginally higher maturity and moderately higher credit risk as compared to a liquid fund at the same time maintaining a balance between safety and liquidity. The scheme can invest between 70%-100% in money market and debt instruments with maturity, average maturity and also in those with interest rates resetting within or up to a year. The scheme may also invest 0-30% in debt instruments with maturity grater than one year but less than three years. These debt instruments would include securitised debt, which can be up to 50% of the net assets. Investment in derivatives can also be up to 50% of the net assets of the scheme.

Reliance MF Files An Offer Document With SEBI - June 25, 2008

Reliance MF has rolled out a new scheme called Reliance Fixed Horizon Fund -X and it is a close-ended income scheme. The scheme will be launching 2 series with different maturities- Series 6 and Series 3. Series 6 includes sub-series 1 to 12. Under Series 6, sub-series 1 to 6 having duration of 12 to 15 months, Series 7 to 12 having duration of 15 months 1 day to 18 months, and Series 13 to 15 duration between 91days to 98 days. The new fund offering (NFO) for the scheme is Rs. 10 during the NFO period.

The investors will have three plans viz. retail plan and institutional plan and super institutional plan. Each plan offers sub-option of growth and dividend payout option. For all series, the minimum investment amount under retail plan is Rs. 5,000 and in multiples of Re 1 thereafter. The minimum investment amount under institutional plan is Rs. 50 lakh and in multiple of Re 1 thereafter and for super institutional plan is 1 crore and in multiple of Re 1 thereafter.

Principal Pnb MF Files An Offer Document With SEBI - June 25, 2008

Principal Pnb MF is planning to launch Fixed Maturity Plan- 91days - Series XVII. It is a close-ended debt scheme. The investment objective of the scheme is to build an income-oriented portfolio and provide returns. Investment options: The scheme will have two-investment plans viz. regular plan and institutional plan with growth and dividend options under each plan. The dividend option under both plans will have the facility of payout and sweep. The minimum application amount will be Rs. 1000 under regular plan and Rs. 50 lakhs under institutional plan for dividend option and growth options under both the plans and any amount thereafter under each plan.

ING MF Launches Equity Fund - June 24, 2008

ING MF has unveiled a new fund called ING Latin America Equity Fund and it is a an open-ended fund of fund scheme. The primary investment objective of the scheme is to seek capital appreciation by investing predominantly in ING (L) Invest Latin America Fund. The scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities, in order to meet liquidity requirements from time to time.

DSP Merrill Lynch MF launches FMP - June 24, 2008

DSP Merrill Lynch Mutual Fund has rolled out DSP Merrill Lynch Fixed Maturity Plan 12 Months Series 1 and it is a close-ended income schemes with maturity profile of 12 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 scheme will invest up to 100% in debt instruments and up to 100% in money market. It may invest up to a maximum of 100% of the scheme's net assets in fixed income derivatives.

Franklin Templeton MF Launches Fixed Tenure Fund -X- Plan A - June 23 , 2008

Franklin Templeton MF has rolled out Templeton Fixed Tenure Fund -X-Plan A. It is a close - ended income fund with maturity of 3 years. 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.

Escorts MF Launches FMP - June 23, 2008

Escorts MF has rolled out a new fund called Escorts Fixed Maturity Plan. Escorts Fixed Maturity Plan is a close-ended fixed term income scheme comprising 13 months investment plans. The scheme will offer retail and institutional plans with growth and dividend options. The investment objective of the scheme is to generate regular income through investment in debt / money market instruments and government securities usually maturing in line with the time profile of the scheme. The fund will invest up to 60%-100% in debt and money market instruments. It will have 0-40% investments in government securities.

Tata MF Declares Dividend - June 21, 2008

Tata Mutual Fund has announced the declaration of dividend under periodic dividend option for Tata Fixed Income Portfolio Fund-Series B3. The record date is set as 26 June 2008.

The AMC decided to distribute up to 100% of the net distributable surplus generated between 28 March 2008 to 26 June 2008 will be distributed as dividend.

The NAV for the scheme under regular quarterly dividend option was Rs.10.9683 as on 19 June 2008.

Tata Fixed Income Portfolio Fund-Series B3 was launched in November 2007. It is an open-ended debt scheme with an aim of generating returns and / or capital appreciation along with minimization of interest rate risk by investing predominantly in a portfolio of debt and money market instruments.

Jm Financial Mf Declares Dividend Under Quarterly Plan 1 - June 21, 2008

The JM Financial mutual fund has announced the declaration of dividend under both regular and institutional plans of JM Interval Fund-Quarterly Plan 1 the record date for dividend will be 25 June 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 10.2415 under regular plan and Rs 10.2471 under institutional plan as on 19 June 2008.

JM Interval Fund-Quarterly Plan 1 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.

ICICI MF Declares Dividend Under FMP - June 20, 2008

ICICI Mutual Fund has announced 24 June 2008 as the record date for declaration of dividend under dividend option of the scheme of ICICI Prudential Fixed Maturity Plan-Series 42- Three Months Plan C. The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme under dividend option of ICICI Prudential Fixed Maturity Plan-Series 42- Three Months Plan C was Rs. 10.2145 as on 11 June 2008. ICICI Prudential Fixed Maturity Plan-Series 42- Three Months Plan C is a close-ended debt scheme. It was launched in March 2008. 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.

DBS Chola MF launches FMP - June 20, 2008

DBS Chola Mutual fund has announced the launch of its close ended income scheme, DBS Chola Fixed Maturity Plan-Series 9. The scheme aims to generate regular returns and capital appreciation by investing in debt, Government and Money market securities. The fund, which would offer redemption facility on the maturity date without the payment of any load, opens for subscription on 18 June and will close on 26 June 2008. Redemptions before the maturity date will be subject to 2% exit load.

The fund offers both retail and institutional plan with the minimum investment limit for the former has been fixed at Rs 5,000 and that for institutional investors at Rs 10 lakh. DBS Cholamandalam Asset Management manages funds in excess of Rs 2,100 crore across 19 schemes with over 100,000 customer accounts, the company said.

HDFC MF Launches 90 Days June 2008 (3) Under FMP Series VIII - June 19, 2008

HDFC Mutual Fund launched HDFC Fixed Maturity Plan 90 Days June 2008 (3). HDFC Fixed Maturity Plans 90 Days June 2008 (3) the scheme is of close-ended income. 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- 90 Days June 2008 (3) offers wholesale plan and retail plan with growth and dividend option. Under retail Plan, the minimum application amount will be Rs. 5,000 and in multiples of Re. 1 thereafter. Under wholesale Plan, the minimum investment amount is Rs. 1 crore and in multiples of Re. 1 thereafter.

JM Financial MF Prepones NFO Period - June 19, 2008

JM Financial Mutual Fund has preponed closing date of the new fund-offering (NFO) period of JM Fixed Maturity Fund-Series X - Quarterly Plan 3. The fund will now close on 18 June 2008, instead of 11 July 2008. JM Fixed Maturity Fund-Series X - Quarterly Plan 3 was opened for subscription on 12 June 2008. The scheme is a close-ended income scheme with a maturity of 91 days. The scheme seeks to generate regular returns through investment in fixed income securities normally maturing in line with the time profile of the plan. JM Fixed Maturity Fund-Series X - Quarterly Plan 3 will offer two plans i.e. regular plan and institutional plan. Each of the plans will have dividend and growth option.

ICICI Prudential MF extends NFO period - June 18, 2008

ICICI Prudential Mutual Fund has extended the offer period for its ICICI Prudential FMP Series 44-One year Plan D. Now the offer would close on 19 June 2008 instead of 17 June 2008. The new fund offer was opened for subscription on 9 June 2008. ICICI Prudential Fixed Maturity Plan - Series 44 -One Year Plan D is a close-ended debt scheme. The scheme seeks to generate returns by investing in a portfolio of fixed income securities and debt instruments normally maturing in line with the time profile of the scheme. There are two options available for investment under the scheme viz. retail option and institutional options. The scheme will further offer growth and dividend option. The minimum investment amount under retail plan is Rs. 5000 and in multiples of Re. 1 thereafter. For institutional plan, the minimum investment amount is Rs. 1 crore and in multiples of Re. 1 thereafter.

Mirae Asset MF to infuse in Brazil, Russia, China cos - June 18, 2008

Mumbai: Mirae Asset Mutual Fund has registered offer document with SEBI to launch an equity-oriented fund that will infuse in equities of leading companies having their primary activity in Brazil, Russia or China. The proposed fund will infuse 65-100 per cent in equities of companies operating in Brazil, Russia or China and listed on any recognized stock exchange, says the offer document. The fund will have the option of infusing up to 35 per cent in Indian equities and equity-related securities or money market instruments, debt securities instruments. The fund will be benchmarked against the MSCI -BRC (Brazil, Russia & China) Index. The RBI in April 2008 increased the overall overseas investment limit for the mutual funds from $5 billion to $7 billion.

ICICI Pru MF Files An Offer Document - June 17, 2008

ICICI Prudential Mutual Fund filed an offer document to launch ICICI Prudential Fixed Maturity Plan - Series 46. It is a close-ended debt scheme, which will have 2 plans. The scheme will have following plans namely: ICICI Prudential Fixed Maturity Plan - Series 46-Six Months Plan and ICICI Prudential Fixed Maturity Plan - Series 46-One Year Plan. Both these ICICI Prudential Fixed Maturity Plan - Series 46-Six Months and One year plan will be having further plans- A,B,C,D. The investment objective of the plan 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.

Birla Sun Life MF Launches New FTP - June 17, 2008

Birla Sun Life Mutual Fund launched Birla Fixed Term Plan- Half Yearly Series 4. The scheme seeks to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme. It will have dividend and growth option. Minimum Investment Amount: The minimum investment amount is Rs 5,000 and in multiples of Re 1 thereafter.

JM Financial MF Files An Offer Document - June 16, 2008

M Financial Mutual Fund filed an offer document to launch JM Fixed Maturity Fund - Series XII. It is a close -ended income scheme. JM Fixed Maturity Fund - Series XII is suitable for investors with a time horizon ranging from a month to 3 months. The scheme will provide six plans viz. 3 monthly plans and 3 quarterly plans. The investment objective of the scheme is to generate regular returns through investment in fixed income securities normally maturing in line with the time profile of the respective plan. The scheme offers two plans to the investor i.e. regular and institutional plans. Each sub-plan will have a growth and dividend option. Under dividend option, investors have choice of dividend payout or dividend reinvestment.

ABN AMRO MF Reshuffles Fund Management Team - June 16, 2008

Ms. Sukanya Ghosh has been appointed as a dedicated fund manager in place of Mr. R. Sivakumar for all overseas investments by schemes of ABN AMRO mutual Fund including ABN AMRO China India Fund. Mr. K.C. Reddy will be the Fund Manager of ABN AMRO Opportunities Fund and ABN AMRO Future Leaders Fund Mr. Amit Nigam and Mr. R.K. Sivakumar will be the fund managers of all series of ABN AMRO Multi Managers Fund Mr. Alok Singh will manage fixed Income Portfolio of ABN AMRO Monthly Income Plan. Mr Amit Nigam and Mr Sukanya Ghosh will manage ABN AMRO China India Fund. All the above-mentioned changes will be effective from 16 June 2008.

Take The MF Road To Retirement Planning - June 14, 2008

When it comes to retirement planning, it’s the middle years of our lives that are the most important. It is at this stage that we plan our earnings and savings to ensure a comfortable old age.

However, many people don’t understand the need to start pooling funds for retirement early on. They delay their planning and start at a later stage in life.

This is perhaps the biggest mistake people make as planning early on means lower contributions towards your retirement corpus. If you start late, the contributions need to be higher to make up for lost time and money.

As no one would like to alter his or her lifestyle after retirement; it is necessary to come up with a concrete figure to maintain the same lifestyle during retirement. Undershooting projections could lead to a shortfall later on and starting early ensures that your retirement needs are met in the future.

There are two phases of retirement planning — the accumulation phase and payment of annuities. The accumulation phase involves building a sufficient corpus to take care of retirement needs. Simply keeping aside some part of income every month in a fixed deposit does not qualify as accumulation of corpus.

You need to remember that inflation will catch up along the way and the money will prove to be inadequate unless invested properly. You need to make optimum use of the money you set aside to maximise benefits before retirement begins.

A slew of retirement plans by insurance agencies have been hitting market shores. These agencies have also realised the importance of retirement planning. Due to aggressive sales pitches and excessive advertising, individuals are often drawn towards them, many a times opting for a flawed product.

This is mainly due to a lack of awareness about other products in the market. This lack of knowledge helps insurance agencies market their products easily.

Also, marketing agents often use the fear factor to their advantage. Especially vulnerable are those who have not thought about their retirement.

One should realise that every individual has different needs for retirement and the same product doesn’t work for all. A case-by-case approach needs to be adopted and products should be suggested based on their needs.

For instance, during the annuity phase, a majority of pension plans provide only a fixed sum of money on a monthly or yearly basis. As they do not take into account the effect of inflation, the amount could prove inadequate in a few years.

Also, a majority of pension plans have high administration charges and often high load structures. This gives your money little chance to appreciate, as these charges eat away the corpus. Though the charges seem small at face value, a closer look reveals that they could be significant.

The table gives a comparison of the cost structures associated with various products. One of the better retirement plans from an insurance company has been taken and compared with retirement plans offered by mutual fund houses and other diversified index funds.

Only pure equity funds are considered here, since equity is the best asset class for sustained long-term investment. However, the results and observations are valid for debt schemes, too.

A couple of things are evident from the table.

First, there is nothing ‘special’ about the so-called retirement plans. Even though they lack special benefits, they are high-cost products with lower flexibility and liquidity. The name ‘retirement plan’ is actually a misnomer and does not bring anything special or additional to the investor.

Second, index funds have the lowest cost structures among all the options available. Their performance too has been on par with retirement plans-making them even more desirable.

If investors want to seek further upside, diversified equity funds may be the best option available to investor.

Though their cost structure is similar to retirement plans, mutual funds offer greater flexibility to choose across fund houses and have a greater upside in the long run.

Individuals should widen their horizons and explore better options while choosing the instrument to plan their retirement. Though it requires efforts, it is definitely worth the hassle.

With a little bit of attention and awareness, you can make the entire planning process painless and extremely beneficial in your golden years.

JM Financial MF Launched By FMF Series - June 13, 2008

JM Financial MF has launched a new fund called JM Fixed Maturity Fund - Series X - Quarterly Plan 3. The scheme is a close-ended income scheme with a maturity of 91 days. The investment objective of the fund is to generate regular returns through investments in fixed income securities normally maturing in line with the time profile of the respective plan. Under each plan, 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.

Extends NFO For FTP-Half Yearly Series 4 By Birla Sun Life - June 13, 2008

Birla Sun Life Mutual Fund has extended the offer period for its Birla Fixed Term Plan-Half Yearly Series 4 to 19 June 2008. The NFO Period for the scheme will be from 9 June 2008 to 19 June 2008. Birla Fixed Term Plan-Half Yearly Series 4 is a close-ended income scheme with an objective to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme. The scheme charge an exit load of 0.50% for the redemption made before maturity date.

Remaining Invested In The Plan Till The Maturity - June 13, 2008

UTI Mutual Fund has preponed the new fund offer period for UTI Fixed Maturity Plan Quarterly Series 06/08-I. The fund will now close on 12 June 2008, instead of 13 June 2008. The issue was opened for subscription from 2 June 2008. It is a close-ended umbrella income scheme seeking to generate regular income through investments in debt, money market instruments and government securities with suitable maturity. The scheme aims to seek regular returns by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan, thereby enabling the investors to nearly eliminate interest rate risk by remaining invested in the plan till the maturity. The scheme will have 20-100% in debt securities and money market securities with residual average maturity of equal to or less than 410 days.

HDFC MF Declares The Two FMPs Of Dividend - June 12, 2008

HDFC Mutual Fund has announced 16 June 2008 as the record date for declaration of dividend under dividend option of both retail and wholesale plans of HDFC Fixed Maturity Plan 181 Days December 2007 and HDFC Fixed Maturity Plans -90 Days March 2008 (2) under HDFC Fixed Maturity Plan Series VI and HDFC Fixed Maturity Plan Series VII, respectively.

Kotak Mutual Fund Proposes 100% Distributable Of Surplus - June 12, 2008

Kotak Mutual Fund has declared dividend under the dividend option of Kotak Fixed Maturity Plan 3 Months Series 28. The fund house has fixed 16 June 2008 as the record date for the payment of dividend. It proposes the 100% of distributable surplus available on the record date, as dividend subject to deduction of applicable dividend distribution tax. The NAV of the scheme was recorded at Rs 10.2278 as on 9 June 2008.

Kotak Fixed Maturity Plan 3 months Series 28 was launched in March 2008. The scheme is a close-ended debt fund with an investment objective of generating returns through investments in debt and money market instruments with a view to significantly reduces the interest rate risk. The scheme is asking for an exit load of 1%, if redemption is done before maturity.

AMC Decided To Distribute Up To 100% Of Surplus - June 12, 2008

Tata Mutual Fund has announced the declaration of dividend under dividend option for Tata Floating Rate Fund -Long Term. The record date is set as 16 June 2008. The AMC decided to distribute up to 100% of the net distributable surplus generated between 27 March 2008 to 16 June 2008 will be distributed as dividend. The NAV for the scheme under Tata Floating Rate Fund -Long Term dividend option was Rs.10.3401 as on 9 June 2008. Tata Floating Rate Fund -Long Term is an open-ended debt fund and the scheme aims to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments.

Mfs Maintaining A Cash Level Of 10-12% - June 11, 2008

Mumbai: Mutual fund companies are maintaining a cash level of 10-12 per cent on an average. Many of them are booking profits, too, after having deployed cash in the initial few months.

Although redemption pressures are nearly absent, the pipeline of liquidity in the form of NFOs has dried down. Fund houses are not seeing any fresh inflows and, hence, are curbing the buying support to the equity markets. On the other hand, insurance companies have remained net buyers in the market on account of huge collections from Ulip schemes. According to data from Value Research, Birla Sunlife and Tata Mutual Fund are held as much as 14 per cent and 20 per cent in cash, respectively, as of May 31. For UTI mutual fund and SBI mutual fund, cash levels stood at 14.56 per cent and 12.81 per cent. Reliance mutual fund maintained the highest cash level at 25.53 per cent

ABN Amro MF Appoints New CIO - June 11, 2008

ABN Amro Mutual Fund has announced the appointment of Mr. Mr K C Reddy as the Chief Investment Officer (CIO). Mr Reddy will be responsible for leading a dedicated team of investment professionals. He has more than 14 years of experience in equity markets. At ABN Amro Asset Management, India, Reddy will also be the fund manager for ABN Amro Opportunities Fund and ABN Amro Future Leaders Fund.

IDFC MF Rolls Out New FMP- Yearly Series 22 - June 11, 2008

IDFC MF has announced the launch of a fund called IDFC Fixed Maturity Plans- Yearly Series 22. The scheme is close-ended income scheme. There are two plans viz. Plan A and Plan B. The duration of the scheme will be from the date of allotment to 24 June 2009. The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments. The fund will invest up to 100% in debt and money market instruments, with low to medium risk profile. The investment in securitised debt will be up to 50% of net asset of the scheme.

IDFC MFStandard Chartered Fixed Maturity Plans- Quarterly Series 35 - June 10, 2008

IDFC MF has rolled out a fund called Standard Chartered Fixed Maturity Plans- Quarterly Series 35. The scheme is close-ended income scheme. The duration of the scheme is from the date of allotment to 8 September 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. The fund will invest up to 100% in debt and money market instruments, with low to medium risk profile. The investment in securitised debt will be up to 50% of net asset of the scheme.

The Bihar Government's Welfare Scheme For Girl Child - June 10, 2008

Mumbai: UTI Mutual Fund has been mandated to manage the funds under the Bihar Government's welfare scheme for girl child. The Mukhya Mantri Kanya Suraksha Yojana scheme was rolled out by the State Government with the objective of checking female foeticide, improving the sex ratio and encouraging registration of birth. UTI MF said it has signed a tripartite agreement with the Bihar Government and Women Development Corporation of Bihar.

Under the scheme, the State Government will contribute Rs 2,000 for every girl child born on or after November 22, 2007 in below poverty line families. The amount will be invested by Women Development Corporation of Bihar, in UTI Children's Career Balanced Plan Growth Option. The benefits of the yojana will be limited to two girls per family falling below the poverty line.

UTI Children's Career Balanced Plan, launched in July 1993 as an open-end plan, currently has a corpus of Rs 2,600 crore. The scheme has an asset allocation limit of minimum 60 per cent in debt and maximum 40 per cent in equities and related instruments. The State Government has put in Rs 3 crore.

By Investing Achieve Income With Minimum Volatility - June 10, 2008

Sundaram BNP Paribas MF is looking at rolling out a new scheme called Sundaram BNP Paribas Fixed Term Plan 90 Days Series 11-14 and it is a close-ended income scheme with 90 days maturity comprising 4 series 11-14.

The objective of this scheme would be to achieve income with minimum volatility by investing in a portfolio of fixed-income securities. The scheme offers two options - retail option and institutional option with growth and dividend option. The dividend option offers dividend reinvestment facility. The minimum investment for retail plan is Rs. 5,000 and in multiples of Re.1 thereafter. The minimum investment for institutional plan will be Rs. 1 crore and in multiples of Re.1 thereafter.

Mutual Funds Step Up Buying - June 9, 2008

Mutual funds (MFs) bought shares worth a net Rs 546.90 crore on 5 June 2008 compared to their buying of Rs 202 crore on Wednesday, 4 June 2008. MFs' net inflow of Rs 546.90 crore on Thursday 5 June 2008 was a result of gross purchases Rs 1271.20 crore and gross sales Rs 724.30 crore. Sensex rose 254.93 points or 1.64% at 15,769.72 on that day. MFs were net buyers of shares worth Rs 707.80 crore in this month, till 5 June 2008.

IDFC MF Declares Dividend For FMP - June 9, 2008

IDFC Mutual Fund has announced 12 June 2008 as the record date for declaration of dividend under dividend option of Standard Chartered Fixed Maturity Plan -Yearly Series 11 - Plan A & B. The AMC plans to distribute entire appreciation in the NAV of dividend option i.e. since inception until 12 June 2008 will be declared as dividend. 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.

Tata Mutual Fund Collected Horizon Fund - June 7, 2008

Tata Mutual Fund has collected Rs 88.3 crores via Tata Fixed Horizon Fund Series 17 -Scheme E during its new fund offer period i.e. from 20 to 22 May 2008. The scheme is a close - ended debt fund with having maturity of 3 months from the date of allotment. The investment objective of the scheme is to generate income and / or capital appreciation by investing in wide range of debt and money market instruments. 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 reinvestment.

UTI Mutual Fund announced the dividend - June 7, 2008

UTI Mutual Fund has announced the dividend under dividend option of UTI Fixed Income Interval Fund-Monthly Interval Plan series II. The record date for the declaration of dividend is 12 June 2008. The quantum of dividend will be 100% of distributable surplus available on the record date. The NAV for the scheme under retail plan was at Rs10.0446 as on 4 June 2008. UTI Fixed income interval fund - Monthly Interval Plan Series II is a debt oriented interval scheme with income oriented portfolio consisting of Gsecs and other fixed income / debt securities. The scheme aim to generate regular returns by investing in portfolio of fixed income securities.

Birla Sun Life MF Declare Dividend - June , 2008

Birla Sun Life Mutual Fund announced to declare dividend, under the dividend option of Birla Sun Life Quarterly Interval Fund - Series 9.The fund house fixed 10 June 2008 as the record date for the declaration of dividend under both the Plan।The fund house has decided to distribute 100% of surplus available as on record date as dividend under both the Schemes. The NAV of Birla Sun Life Quarterly Interval Fund - Series 9 was Rs 10।2060 as on 4 June 2008. Birla Sun Life Quarterly Interval Fund - Series 9 is an interval income scheme which seeks to generate regular income through investment in debt and money market instruments.

DWS Mutual Fund - June 6, 2008

DWS mutual Fund has extended the new fund-offering (NFO) period of DWS Fixed Term Fund Series 51 from 5 June to 10 June 2008. The issue was opened for subscription on 26 May 2008. DWS Fixed Term Fund Series 51 is close-ended debt fund with the duration of 370 days.

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.
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.

UTI Mutual Fund Anounced The Dividend - June 6, 2008

UTI Mutual Fund has announced the dividend under dividend option of UTI Fixed Maturity Plan (QFMP/03-08/I).

The record date for the declaration of dividend is 11 June 2008. The quantum of dividend will be 100% of distributable surplus available on the record date.
The NAV for the scheme under retail plan was at Rs10.2327 and that for institutional plan was at Rs. 10.2334 as on 3 June 2008.

UTI Fixed Maturity Plan- Quarterly Fixed Maturity Plan (QFMP /03-08/I) is a close-ended umbrella income scheme seeking to seek regular returns by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan, thereby enabling the investors to nearly eliminate interest rate risk by remaining invested in the plan till the maturity/final redemption. UTI has announced the dividend under dividend option of UTI Fixed Maturity Plan (QFMP/03-08/I).

The record date for the declaration of dividend is 11 June 2008. The quantum of dividend will be 100% of distributable surplus available on the record date. The NAV for the scheme under retail plan was at Rs10.2327 and that for institutional plan was at Rs. 10.2334 as on 3 June 2008.

UTI Fixed Maturity Plan- Quarterly Fixed Maturity Plan (QFMP /03-08/I) is a close-ended umbrella income scheme seeking to seek regular returns by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan, thereby enabling the investors to nearly eliminate interest rate risk by remaining invested in the plan till the maturity/final redemption.

Tata MF collects Rs.88.3 crore - June 6, 2008

Tata Mutual Fund has collected Rs 88।3 crores via Tata Fixed Horizon Fund Series 17 Scheme E during its new fund offer period i.e. from 20 to 22 May 2008.

The scheme is a close ended debt fund with having maturity of 3 months from the date of allotment. The investment objective of the scheme is to generate income and / or capital appreciation by investing in wide range of debt and money market instruments.

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 reinvestment.

Extension Of NFO Of ICICI FMP Series 44-Fifteen Months Plan - June 5, 2008

ICICI Mutual Fund has extended the offer period for ICICI Fixed Maturity Plan Series 44-Fifteen Months Plan. Now the offer would close on 11 June 2008 instead of 5 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.

ICICI MF Declares Dividend Under FMP - June 5, 2008

ICICI Mutual Fund has announced 9 June 2008 as the record date for declaration of dividend under dividend option of retail plan of ICICI Prudential Fixed Maturity Plan-Series 39- Six Months Plan A. The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme under retail dividend plan was Rs. 10.1565 as on 28 May 2008.
ICICI Prudential Fixed Maturity Plan-Series Series 39- Six Months Plan A 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.

Mutual Funds Turn Net Buyers - June 5, 2008

Mutual funds (MFs) purchased shares worth a net Rs 124.10 crore on Tuesday 3 June 2008 compared to their selling of Rs 165.20 crore on Monday, 2 June 2008. MFs' net inflow of Rs 124.10 crore on Tuesday 3 June 2008 was a result of gross purchases Rs 648.80 crore and gross sales Rs 524.70 crore. Sensex settled 100.62 points or 0.63% lower at 15,962.56 on that day.

Mutual Funds In Selling Mode - June 4, 2008

Mutual funds (MFs) sold shares worth a net Rs 157.50 crore on Monday 2 June 2008. MFs' net outflow of Rs 157.50 crore on Monday 2 June 2008 was a result of gross purchases Rs 396.90 crore and gross sales Rs 554.40 crore. Sensex fell 352.39 points or 2.15% to 16,063.18 on that day.

SBI MF Files An Offer Document - June 4, 2008

SBI Mutual Fund filed an offer document to launch SBI Debt Fund Series. It is a close-ended debt scheme. the investment objective of the scheme is 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. The scheme offers two plans: Retail Plan and Institutional Plan in all the funds having maturity of above one year Both plans have growth and dividend options. The scheme will invest up to 80 % of its portfolio in Government of India dated Securities and Treasury Bills and Money Market instruments with low risk. 20-100% in AAA/AA+ Bonds/Debt Instruments and up to 20 % of the exposure to AAA/AA+ Bonds in Securitized Debt with medium risk.

ICICI MF Revises Load Structure Under 2 Schemes - June 4, 2008

According to the latest addendum from the ICICI mutual fund, it has decided to revise the load structure for all new applications under ICICI Prudential Flexible Income Plan and, ICICI Prudential Floating Rate Plan. Accordingly for all investments redeemed within 7 days from the date allotment will carry an exit load of 0.25%. The changes will be effective from 5 June 2008.

Lotus India MF Files Offer Document With Sebi - June 3, 2008

Lotus India Mutual Fund filed offer document with Sebi to launch Lotus India Treasury Plus Fund. It's an open-ended debt scheme. The investment objective is to provide returns consistent with the preservation of capital and moderate liquidity by actively managing a portfolio of securities, across the credit spectrum, having marginally higher modified duration as compared to a liquid plus fund. The scheme will be having regular, institutional plan and super institutional plans with growth, dividend and bonus option. The dividend option offers dividend re-investment facility. Under dividend reinvestment facility, there are daily, weekly and monthly reinvestment facilities.

ABN Amro MF Files Offer Document - June 3, 2008

ABN Amro Mutual Fund filed offer document Plans to ABN Amro Fixed Term Plan -Series 13 -Plan A to D. The scheme offers two plans viz. regular and institutional plan, which will have two sub-options of growth and dividend options. The dividend option offers dividend payout and dividend reinvestment facilities. The scheme will be having dividend frequencies of calendar monthly, calendar quarterly, calendar half yearly, calendar yearly, and dividend on maturity option. The minimum investment amount under regular plan is Rs. 5,000 and in multiples of Re 1 thereafter.

DBS Chola MF Files An Offer Document - June 3, 2008

DBS Chola Mutual Fund filed an offer document to launch DBS Chola Energy & Natural Resources Fund. It is a open-ended equity scheme. The scheme seeks to generate long-term capital appreciation by investing in equity and equity related instruments of companies engaged in the energy and natural resources sector and of companies providing services to these companies. The scheme offers investment under two options namely dividend and cumulative option. The scheme will invest 65-100% of its portfolio in equity and equity related instruments related to the theme sector. The scheme will invest 0-35% in other equity and equity outside the theme. It will have an investment objective of 0-35% in debt securities and money market instruments.

Reliance MF Declares Dividend Under 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.

Franklin Templeton MF Declares Dividend

Franklin Templeton Mutual Fund has announced the declaration of dividend for Templeton Quarterly Interval Plan-Plan B। The record date is set as 6 June 2008. The fund house has decided to distribute 100% of surplus as on record date on the face value of Rs 10.

Templeton Quarterly Interval Plan-Plan B 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.