IDFC Mutual Fund launched IDFC Fixed Maturity Plans- Quarterly Series 32. The scheme is close-ended income scheme. The duration of the scheme is from the date of allotment to 3 November 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.
Thursday, July 31, 2008
ING Investment Management India Launched ING Optimix Global Commodities Fund - July 31, 2008
ING Investment Management India launched ING Optimix Global Commodities Fund - an open ended Fund of Funds (FOF) scheme for Indian investors under its multi-manager investment engine ING OptiMix. It is India's first 'Multi-Manager' global commodity equity fund. The primary objective of the scheme is to achieve long-term capital growth by investing primarily in units of global commodity oriented mutual funds, which invest in commodity, related securities. ING OptiMix seeks to look at portfolio of funds to create a risk-adjusted solution that is optimal for investors looking to lower their risk for a given investment.
Lotus India MF Files Offer Document - July 31 , 2008
Lotus India Mutual Fund filed offer document to launch Lotus India Long Term Fixed Maturity Plan - Series I - Plan A to C. It is a close-ended debt scheme with maturity of 18-24 months. The exact duration of the plans under Scheme shall be decided at the time of launch of the Scheme. The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme. Lotus India Long Term Fixed Maturity Plan - Series I offer three plans viz. Plan A, B and C. Each of these plans offer two sub plans i.e. regular and institutional. Both plans offer two options i.e. dividend reinvestment and growth.
Wednesday, July 30, 2008
Birla Sun Life MF Declares Dividend - July 30 , 2008
Birla Sun Life Mutual Fund has declared dividend under the dividend option of the Birla Sun Life Fixed Term Debt Fund - Series 3-Plan 36. The fund house has fixed 2 August 2008 as the record date for the declaration of dividend. The fund house has decided to distribute 100% of surplus available as on record date as dividend under the schemes. The NAV of Birla Sun Life Fixed Term Debt Fund - Series 3-Plan 36 was Rs 11.9982 as on 25 July 2008. Birla Sun Life Fixed Term Debt Fund - Series 3-Plan 36 is a close -end income scheme. The primary objective of the scheme is to generate stable returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity period of the respective plan.
Benchmark MF Files Offer Document With Sebi - July 30 , 2008
Benchmark Mutual Fund filed offer document with Sebi to launch Shariah BeES. The Benchmark Mutual Fund has filed the offer document with the Securities and Exchange Board of India (Sebi) for launching a dedicated scheme of Shariah Benchmark Exchange Traded Scheme (Shariah BeES). It's an open-ended exchange listed index scheme. The minimum application amount under the scheme is Rs. 10000 and in multiple of Re 1 thereafter. ach unit of the scheme being offered will have a face value of Rs.10 each and will be issued at a premium approximately equal to the difference between face value and 1/10th of the value of the S&P CNX Nifty Shariah Index.
IDFC MF Files An Offer Document - July 30 , 2008
IDFC Mutual Fund filed an offer document to launch IDFC Fixed Maturity Plan - Eighteen Months Series is a close-ended income scheme with two plans - i.e. plan 2 to 3. The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments.
The plans under the scheme comprises of two plans viz. Plan A and Plan B. For Plan A, the minimum application amount is Rs. 5000 and in multiples of Re 1 thereafter. Under Plan B, the minimum application amount is Rs 1 crore and in multiples of Re 1 thereafter.
The plans under the scheme comprises of two plans viz. Plan A and Plan B. For Plan A, the minimum application amount is Rs. 5000 and in multiples of Re 1 thereafter. Under Plan B, the minimum application amount is Rs 1 crore and in multiples of Re 1 thereafter.
Tuesday, July 29, 2008
ING Investment Unveils Fund Of Funds - July 29 , 2008
Mumbai: ING Investment Management India has declared the roll out of its open-ended fund of funds scheme called 'ING Optimix Global Commodities Fund'. The main objective of the scheme is to get long-term capital growth by infusing primarily in units of global commodity-oriented mutual funds.
The scheme will open on July 29, and close on August 25, 2008. In the current scenario of increasing inflation and declining equity markets, investing in commodities is a good option as it helps very much to diversify your portfolio. The portfolio mix of the new fund will comprise investments in energy, metals and minerals, and agriculture and chemicals. Exposure to an alternative asset class such as commodities would provide better risk-adjusted returns to an investor's overall portfolio.
The scheme's asset allocation will be 65 per cent - 100 per cent in global mutual funds, which infuse in commodity-related securities; up to 25 per cent in debt funds, liquid funds, money market funds; and up to 10 per cent in money market securities. The offer document for the fund also adds that ING OptiMix Global Commodities Fund shall not invest in those overseas mutual fund/unit trusts, which have an exposure to Indian securities via participatory notes. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter.
The scheme will open on July 29, and close on August 25, 2008. In the current scenario of increasing inflation and declining equity markets, investing in commodities is a good option as it helps very much to diversify your portfolio. The portfolio mix of the new fund will comprise investments in energy, metals and minerals, and agriculture and chemicals. Exposure to an alternative asset class such as commodities would provide better risk-adjusted returns to an investor's overall portfolio.
The scheme's asset allocation will be 65 per cent - 100 per cent in global mutual funds, which infuse in commodity-related securities; up to 25 per cent in debt funds, liquid funds, money market funds; and up to 10 per cent in money market securities. The offer document for the fund also adds that ING OptiMix Global Commodities Fund shall not invest in those overseas mutual fund/unit trusts, which have an exposure to Indian securities via participatory notes. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter.
DBS Chola MF Files An Offer Document - July 29 , 2008
DBS Chola Mutual Fund filed an offer document to launch DBS Chola Fixed Maturity Plan Series 11. Scheme: It is a close-ended income scheme with two plans. The first plan will be of 13 months while other will be for 18 months. The primary objective of the scheme is to generate regular returns and capital appreciation by investing in debt, government and money market securities normally maturing in line with the time profile of the respective plans. The scheme two options namely dividend payout and cumulative option.
The scheme will invest 65% -100% of its portfolio money market instruments, corporate bonds, debt and Government securities. The scheme will also invest up to 35% in securitised debt.
The scheme will invest 65% -100% of its portfolio money market instruments, corporate bonds, debt and Government securities. The scheme will also invest up to 35% in securitised debt.
IDFC MF Declares Dividend - July 29 , 2008
IDFC Mutual Fund has announced 31 July 2008 as the record date for declaration of dividend under dividend option of IDFC Super Saver Income Fund - Medium Term Plan (A). The fund house has announced to declare a dividend of Rs. 0.075 per unit. The NAV under Plan A of the scheme was Rs 10.2248 as on 24 July 2008. IDFC Super Saver Income Fund - Medium Term Plan is an open - ended income scheme, seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities.
Monday, July 28, 2008
JM Financial MF Files An Offer Document - July 28 , 2008
JM Financial Mutual Fund filed an offer document to launch JM Moving Sectors Fund. It is an open-ended equity oriented scheme. The investment objective of the scheme is to provide capital appreciation by taking focused exposure to selective sectors and investing in a reasonable diversified portfolio within those sectors. The scheme offers growth and dividend option.
The scheme will invest 65-100% of its portfolio in equity and equity related instruments including equity derivatives. It may invest up to 35% in money market instruments / debt securities including securitised debt. The Scheme intends to invest in securitized debt up to a maximum limit of 25%.
The scheme will invest 65-100% of its portfolio in equity and equity related instruments including equity derivatives. It may invest up to 35% in money market instruments / debt securities including securitised debt. The Scheme intends to invest in securitized debt up to a maximum limit of 25%.
Tata MF Files Offer Document With Sebi - July 28 , 2008
Tata Mutual Fund filed offer document with Sebi to launch Fixed Horizon Fund Series 20. It is a close-ended debt with three plans of maturity ranging between 12 - 18 months. 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. Each scheme has two plans regular plan and institutional plan and each plan has two options- growth option and dividend option. Dividend option offers dividend payout or dividend re-investment facility.
The scheme will invest up to 100% in debt and money market instruments and securitised debt. The investment in securitised debt will be up to 50% of the scheme. 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.
The scheme will invest up to 100% in debt and money market instruments and securitised debt. The investment in securitised debt will be up to 50% of the scheme. 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.
Lotus India MF Files Offer Document- July 28 , 2008
Lotus India Mutual Fund filed offer document to launch Lotus India Fixed Maturity Plan - 375 Days - Series XV to XVII. It is a close-ended debt scheme. The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme. Lotus India Fixed Maturity Plan 375 Days - Series XV to XVII has two plans regular plan and institutional plan.
The investors will have a choice of two options viz. growth option and dividend re-investment facility. The scheme will mature at the end of 375 days from the date of allotment of the scheme.
The investors will have a choice of two options viz. growth option and dividend re-investment facility. The scheme will mature at the end of 375 days from the date of allotment of the scheme.
Saturday, July 26, 2008
Mutual Funds In Selling Mode - July 26 , 2008
Mutual funds (MFs) sold shares worth a net Rs 485.30 crore on 24 July 2008 compared to their buying of Rs 334.50 crore on Wednesday, 23 July 2008. MFs' net outflow of Rs 485.30 crore on Thursday 24 July 2008 was a result of gross purchases Rs 796.30 crore and gross sales Rs 1281.60 crore. Sensex lost 165.27 points or 1.11% at 14,777.01 on that day. MFs were net buyers of shares worth Rs 397.20 crore in this month, till 24 July 2008.
SBI MF Unveils 90 Days Debt Fund Series - July 26 , 2008
SBI MF has launched a new fund called SBI Debt Fund Series - 90 Days Fund-26 and it is a close-ended debt scheme. The objective of the scheme is to provide regular income, liquidity, and returns to the investors through investment in a portfolio comprising of debt instruments such as government securities,AAA/AA+ bonds and money market instruments. The fund will invest up to 80% in Government of India dated securities and treasury bills. The investment in securitised debt will be up to 20% of the exposure to AAA/AA+ bonds and money market instruments. The investment in AAA/AA+ bonds/ debt instruments will be 20-100%.
Birla Sun Life MF Declares Dividend - July 26 , 2008
Birla Sun Life Mutual Fund has declared dividend under the dividend option of the Birla Sun Life Quarterly Interval Fund - Series 7. The fund house has fixed 28 July 2008 as the record date for the declaration of dividend. The fund house has decided to distribute 100% of surplus available as on record date as dividend under the schemes. The NAV of Birla Sun Life Quarterly Interval Fund - Series 7 was Rs 10.2082 as on 22 July 2008. Birla Sun Life Quarterly Interval Fund - Series 7 is an interval income scheme with an investment objective to generate regular income through investments in debt and money market instruments.
Friday, July 25, 2008
Serial Blasts Rock Bangalore
A woman was killed and at least six people were injured in a series of six low-intensity blasts carried out in eastern parts of the information technology capital this afternoon.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
Benchmark MF Plans To Launch Oil Bees - July 25 , 2008
The Benchmark Mutual Fund has filed the offer document with the Securities and Exchange Board of India (Sebi) for launching a dedicated scheme of Oil Benchmark Exchange Traded Scheme (Oil BeES). It's an open-ended exchange traded scheme.
The minimum application amount under the scheme is Rs. 10000 and in multiple of Re 1 thereafter. Each unit of Oil BeES issued under the scheme will be approximately equal to one tenth of the price of crude oil. The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the returns provided by crude oil by investing in units of overseas mutual fund schemes including exchange traded funds investing in securities/instruments linked to crude oil and exchange traded notes and other securities/instruments whose returns are linked to crude oil. The scheme will charge 2.25%, as an entry load during NFO period and for continuous offer there is no entry load.
The minimum application amount under the scheme is Rs. 10000 and in multiple of Re 1 thereafter. Each unit of Oil BeES issued under the scheme will be approximately equal to one tenth of the price of crude oil. The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the returns provided by crude oil by investing in units of overseas mutual fund schemes including exchange traded funds investing in securities/instruments linked to crude oil and exchange traded notes and other securities/instruments whose returns are linked to crude oil. The scheme will charge 2.25%, as an entry load during NFO period and for continuous offer there is no entry load.
SBI Gold ETF Set To Float Soon - July 25 , 2008
The SBI Mutual Fund has filed the offer document with the Securities and Exchange Board of India (Sebi) for launching a dedicated scheme of SBI Gold Exchange Traded Fund (SBI GETS). The objective of SBI GETS is to seek to provide returns that closely correspond to returns provided by price of gold through investment in physical gold and gold related securities as permitted by regulators from time to time.
The open-ended Gold Exchange Traded scheme would be available in retail and institutional plan. Plan A will be available for retail investors and Plan B will be opened for institutional investors. Dividend and growth both options are offered under the Scheme. Dividend option is offered with reinvestment and payout facility. Minimum investment amount is Rs 5,000 under NFO while during continuous offer - minimum-trading lot for SBI GETS units in the market will be 1 unit on the stock exchange where the units are listed. The scheme seeks to collect Rs 1 crore as minimum subscription amount. The SBI GETS will have an exposure of 90-100% in gold and gold related securities with medium and high-risk profile. While 0-10% of net asset of the fund will be invested in debt and money market instruments.
The open-ended Gold Exchange Traded scheme would be available in retail and institutional plan. Plan A will be available for retail investors and Plan B will be opened for institutional investors. Dividend and growth both options are offered under the Scheme. Dividend option is offered with reinvestment and payout facility. Minimum investment amount is Rs 5,000 under NFO while during continuous offer - minimum-trading lot for SBI GETS units in the market will be 1 unit on the stock exchange where the units are listed. The scheme seeks to collect Rs 1 crore as minimum subscription amount. The SBI GETS will have an exposure of 90-100% in gold and gold related securities with medium and high-risk profile. While 0-10% of net asset of the fund will be invested in debt and money market instruments.
Mutual Funds Continue Buying - July 25 , 2008
Mutual funds (MFs) bought shares worth a net Rs 334.60 crore on Wednesday 23 July 2008 compared to their buying of Rs 373.90 crore on Tuesday, 22 July 2008. MFs' net inflow of Rs 334.60 crore on Wednesday 23 July 2008 was a result of gross purchases Rs 1603.30 crore and gross sales Rs 1268.70 crore. Sensex rose 838.08 points or 5.94% at 14,942.28 on that day. MFs were net buyers of shares worth Rs 882.50 crore in this month, till 23 July 2008.
Thursday, July 24, 2008
IDFC FMP- Yearly Series 24 Opens For Subscription - July 24, 2008
Name of Fund: IDFC Fixed Maturity Plans- Yearly Series 24
Scheme: 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 3 August 2009.
Investment Objective: The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments.
Asset Allocation: 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.
Fund Opens: 22 July 2008
Fund Closes: 24 July 2008Face Value: Rs 10
Investment Options: The scheme provides dividend and growth options.
Entry Load: There will no entry load charged for the scheme due to its close-ended structure.
Exit Load: The scheme charges an exit load of 2.00%, if the investment is repurchased on the first Wednesday of any calendar month. There will be no exit load charged on the redemption made on maturity i.e. on 3 August 2009.
Minimum Investment Amount: For plan A, the minimum investment amount is Rs 5000 and for plan B, the minimum investment amount is Rs. 1,00,000. There will be no maximum limit.
Minimum targeted amount: The fund seeks to collect Rs 1 crore during its NFO period.
Benchmark Index: The performance of the scheme will be benchmarked over Crisil Composite Bond Fund Index.
Fund Manager: Rajiv Anand is the Fund Manager of the scheme.
Scheme: 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 3 August 2009.
Investment Objective: The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments.
Asset Allocation: 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.
Fund Opens: 22 July 2008
Fund Closes: 24 July 2008Face Value: Rs 10
Investment Options: The scheme provides dividend and growth options.
Entry Load: There will no entry load charged for the scheme due to its close-ended structure.
Exit Load: The scheme charges an exit load of 2.00%, if the investment is repurchased on the first Wednesday of any calendar month. There will be no exit load charged on the redemption made on maturity i.e. on 3 August 2009.
Minimum Investment Amount: For plan A, the minimum investment amount is Rs 5000 and for plan B, the minimum investment amount is Rs. 1,00,000. There will be no maximum limit.
Minimum targeted amount: The fund seeks to collect Rs 1 crore during its NFO period.
Benchmark Index: The performance of the scheme will be benchmarked over Crisil Composite Bond Fund Index.
Fund Manager: Rajiv Anand is the Fund Manager of the scheme.
SBI Gold Exchange Traded Fund Set To Float Soon - July 24, 2008
The SBI Mutual Fund has filed the offer document with the Securities and Exchange Board of India (Sebi) for launching a dedicated scheme of SBI Gold Exchange Traded Fund.
The objective of SBI Gold Exchange Traded Fund (SBI GETS) is to seek to provide returns that closely correspond to returns provided by price of gold through investment in physical gold and gold related securities as permitted by regulators from time to time.
The open-ended Gold Exchange Traded scheme would be available in retail and institutional plan. Plan A will be available for retail investors and Plan B will be opened for institutional investors. Dividend and growth both options are offered under the Scheme. Dividend option is offered with reinvestment and payout facility.
Minimum investment amount is Rs 5,000 under NFO while during continuous offer - minimum-trading lot for SBI GETS units in the market will be 1 unit on the stock exchange where the units are listed.
The scheme seeks to collect Rs 1 crore as minimum subscription amount.
The SBI GETS will have an exposure of 90-100% in gold and gold related securities with medium and high-risk profile. While 0-10% of net asset of the fund will be invested in debt and money market instruments.
The scheme may charge different entry load for Plan A and B.
Under Plan A, investment up to 1 lakh may attract 1.50% an entry load, it reduced to 1.00% for the investment amount of Rs 1 lakh to Rs 5 lakh. For the purchase amount of Rs 5 lakh to 50 lakh, there will be 0.75% as an entry load and 0.50% for the application amount of Rs 50 lakh to Rs 1 crore.
Plan B may not levy entry load.
Both Plan A and B will not ask any exit load.
The price of the Gold is the Benchmark. The price refers to, the morning fixing of Gold by London Bullion Market association (LBMA). Sudanshu Asthana is the Fund Manager of the scheme.
The objective of SBI Gold Exchange Traded Fund (SBI GETS) is to seek to provide returns that closely correspond to returns provided by price of gold through investment in physical gold and gold related securities as permitted by regulators from time to time.
The open-ended Gold Exchange Traded scheme would be available in retail and institutional plan. Plan A will be available for retail investors and Plan B will be opened for institutional investors. Dividend and growth both options are offered under the Scheme. Dividend option is offered with reinvestment and payout facility.
Minimum investment amount is Rs 5,000 under NFO while during continuous offer - minimum-trading lot for SBI GETS units in the market will be 1 unit on the stock exchange where the units are listed.
The scheme seeks to collect Rs 1 crore as minimum subscription amount.
The SBI GETS will have an exposure of 90-100% in gold and gold related securities with medium and high-risk profile. While 0-10% of net asset of the fund will be invested in debt and money market instruments.
The scheme may charge different entry load for Plan A and B.
Under Plan A, investment up to 1 lakh may attract 1.50% an entry load, it reduced to 1.00% for the investment amount of Rs 1 lakh to Rs 5 lakh. For the purchase amount of Rs 5 lakh to 50 lakh, there will be 0.75% as an entry load and 0.50% for the application amount of Rs 50 lakh to Rs 1 crore.
Plan B may not levy entry load.
Both Plan A and B will not ask any exit load.
The price of the Gold is the Benchmark. The price refers to, the morning fixing of Gold by London Bullion Market association (LBMA). Sudanshu Asthana is the Fund Manager of the scheme.
Mirae Asset Tax Advantage Fund Waits For Sebi Approval - July 24, 2008
Mirae Asset Tax Advantage Fund.Its an open-ended equity linked savings scheme.The investment objective of the scheme is seek to generate long term capital appreciation by predominantly investing in equity and equity related instruments and also enabling investors to avail of a deduction from gross total income as permitted under the Income Tax Act, 1961 from time to time and subject to applicable conditions.
Investment Options: The scheme offers dividend and growth options. The dividend option will further offer dividend reinvestment and payout facilities.
Minimum Application Amount: The minimum application amount will be Rs.500 and in multiples of Re.500 thereafter.
Target Amount: The Scheme seeks to collect a minimum subscription amount of Rs. 1 crore under the scheme during the NFO period.
Asset Allocation: The scheme will invest 80%-100% in equity and equity related securities. The scheme cans investment up to 20% in debt and money market instruments. The scheme may invest in derivatives and securitized debt.
Face Value: Rs 10 per unit subject to applicable entry load.
Entry load: The scheme charges an entry load of 2.25% for the purchase amount less than Rs 5 crore. For the purchase amount greater than or equal to Rs 5 crore, it may ask for an entry load.
Exit load: No exit load will be charged after completion of a lock in period of three year from the date allotment of units.
Investment Options: The scheme offers dividend and growth options. The dividend option will further offer dividend reinvestment and payout facilities.
Minimum Application Amount: The minimum application amount will be Rs.500 and in multiples of Re.500 thereafter.
Target Amount: The Scheme seeks to collect a minimum subscription amount of Rs. 1 crore under the scheme during the NFO period.
Asset Allocation: The scheme will invest 80%-100% in equity and equity related securities. The scheme cans investment up to 20% in debt and money market instruments. The scheme may invest in derivatives and securitized debt.
Face Value: Rs 10 per unit subject to applicable entry load.
Entry load: The scheme charges an entry load of 2.25% for the purchase amount less than Rs 5 crore. For the purchase amount greater than or equal to Rs 5 crore, it may ask for an entry load.
Exit load: No exit load will be charged after completion of a lock in period of three year from the date allotment of units.
Wednesday, July 23, 2008
Trump Jr Plans $1 Bn Realty Fund For India - July 23 , 2008
MUMBAI: Donald Trump Jr, whose father built a multibillion dollar fortune in real estate, plans to set up a fund of as much as $1 billion to buy property in India, betting on the nation's growing wealth. "Trump may create the privately held fund with investors including an Indian family," he said.
He didn't give specifics on how he'll raise the money, or when the first investment will be made. Trump would join Deutsche Bank AG and Lehman Brothers Holdings Inc in amassing funds to invest in a market that recorded the world's highest growth in millionaires last year, fueling demand for luxury homes.
The highest borrowing costs since 2002 have ended India's five-year property boom, curbing valuations of projects and developers. "The real estate market is in a downturn now," said Ritesh Vohra, director of investments at Mumbai-based Saffron Asset Advisors, which manages more than $400 million in two property funds. "There's some more pain left over the next two years or so, and that could be an opportunity to invest."
He didn't give specifics on how he'll raise the money, or when the first investment will be made. Trump would join Deutsche Bank AG and Lehman Brothers Holdings Inc in amassing funds to invest in a market that recorded the world's highest growth in millionaires last year, fueling demand for luxury homes.
The highest borrowing costs since 2002 have ended India's five-year property boom, curbing valuations of projects and developers. "The real estate market is in a downturn now," said Ritesh Vohra, director of investments at Mumbai-based Saffron Asset Advisors, which manages more than $400 million in two property funds. "There's some more pain left over the next two years or so, and that could be an opportunity to invest."
HDFC MF Declares Dividend FMP - July 23, 2008
HDFC Mutual Fund has announced 28 July 2008 as the record date for declaration of dividend under dividend option of HDFC Fixed Maturity Plan 90 Days April 2008 a close ended income scheme under HDFC Fixed Maturity Plans Series VII. The scheme is offering dividend under both retail plan and wholesale plan.
The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV for the scheme under retail plan with normal dividend option was Rs. 10.2018 as on 21 July 2008.
HDFC Fixed Maturity Plan 90 Days April 2008 is a close-ended income scheme. The investment objective of the scheme is to seek to generate regular income by investments in debt, money market instruments, and government securities.
The scheme will charge 0.75% as an exit load if units are redeemed before maturity date.
The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV for the scheme under retail plan with normal dividend option was Rs. 10.2018 as on 21 July 2008.
HDFC Fixed Maturity Plan 90 Days April 2008 is a close-ended income scheme. The investment objective of the scheme is to seek to generate regular income by investments in debt, money market instruments, and government securities.
The scheme will charge 0.75% as an exit load if units are redeemed before maturity date.
Tuesday, July 22, 2008
ICICI MF Declares Dividend Under Quarterly Interval Plan - July 22 , 2008
ICICI Mutual Fund has announced 24 July 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Interval Fund II-Quarterly Interval Plan A. The fund house has decided to distribute 100% of surplus available as on record date. The NAV for retail dividend option of ICICI Prudential Interval Fund II-Quarterly Interval Plan A was Rs. 10.2006 as on 17 July 2008.
ICICI Prudential Interval Fund II-Quarterly Interval Plan A is a debt oriented Interval scheme. The investment objective of the scheme is to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in a debt securities and money market securities. The scheme charges 0.50% an exit loads of the applicable NAV if redeemed at any time other than the specified transaction period.
ICICI Prudential Interval Fund II-Quarterly Interval Plan A is a debt oriented Interval scheme. The investment objective of the scheme is to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in a debt securities and money market securities. The scheme charges 0.50% an exit loads of the applicable NAV if redeemed at any time other than the specified transaction period.
Birla Sun Life MF Declares Dividend - July 22 , 2008
Birla Sun Life Mutual Fund has declared dividend under the dividend option of the Birla Sun Life Fixed Term Plan - Series N. The fund house has fixed 25 July 2008 as the record date for the declaration of dividend. The fund house has decided to distribute 100% of surplus available as on record date as dividend under the schemes. The NAV of Birla Sun Life Fixed Term Plan - Series N was Rs 11.2789 as on 17 July 2008. Birla Sun Life Fixed Term Plan - Series N is a close -end income scheme. The primary objective of the scheme is to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme.
ABN Amro MF Introduces New Investment Option - July 22 , 2008
ABN Amro mutual fund has approved the introduction of new dividend option of "Calendar Quarterly Dividend" under ABN Amro Interval Fund Series 2-Quarterly Plan M and N and Half Yearly Plan. Accordingly, an additional dividend option of Calendar Quarterly dividend has been introduced in ABN Amro Interval Fund Series 2-Quarterly Plan M and N with effect from next interval date of respective plans and in ABN Amro Interval Fund Series 2- Half Yearly Plans with effect from the date of its launch. All other features and terms and conditions of the scheme shall remain unchanged.
Monday, July 21, 2008
Canbank Mf Declares Dividend - July 21, 2008
Canbank Mutual Fund has announced 23 July 2008 as the record date for declaration of dividend under dividend option of Canara Robeco Interval Scheme-Quarterly Interval Fund. The fund house has decided to distribute entire appreciation in the NAV of dividend option as on record date subject to availability of distributable surplus. The NAV of the scheme under both retail and institutional plan was Rs 10.2141 as on 17 July 2008. The investment objective of the scheme is to generate returns and growth of capital by investing in Central and State Government Securities and other fixed income/ debt securities normally maturing within the maturity of interval plan to insulate the portfolio from interest rate volatility.
ICICI Prudential AMC Completes Successful Ten Years - July 21, 2008
India's leading fund house, ICICI Prudential AMC celebrated the completion of ten years in the Indian Mutual Fund industry. The company which began in the year 1998, with an AUM of Rs 160 Crore, managing only two funds at its inception has since expanded its AUM to Rs 59,505.14 Crore as on 30 June 2008 spread over 40 funds. ICICI Prudential Asset Management Company Ltd. is the joint venture between ICICI Bank, a well-known and trusted name in financial services in India and Prudential Plc, one of UK's largest players in the financial services sectors. Gracing the occasion were stalwarts like Mr. Mark Tucker, Group Chief Executive, Prudential Plc, Ms. Kalpana Morparia, Vice Chairman - Insurance, Securities & Asset Management, ICICI Group and Mr. Nimesh Shah Managing Director, ICICI Prudential AMC spoke on the company's glorious run over the last decade.
ICICI Prudential AMC has maintained a lead over the competition with its consistent long-term performance, innovative products, superior technology and a powerhouse of the best talent in the industry during both good and bad in the market over the past decade.
ICICI Prudential AMC has maintained a lead over the competition with its consistent long-term performance, innovative products, superior technology and a powerhouse of the best talent in the industry during both good and bad in the market over the past decade.
Mutual Funds In Buying Mode - July 21, 2008
Mutual funds (MFs) bought shares worth a net Rs 11.10 crore on 17 July 2008 compared to their selling of Rs 31.50 crore on Wednesday, 16 July 2008. MFs' net inflow of Rs 11.10 crore on Thursday 17 July 2008 was a result of gross purchases Rs 651.30 crore and gross sales Rs 640.20 crore. Sensex surged 536.05 points or 4.26% at 13,111.85 on that day. MFs were net buyers of shares worth Rs 523.10 crore in this month, till 17 July 2008.
Saturday, July 19, 2008
ABN Amro MF Files Offer Document With Sebi - July 19 , 2008
ABN Amro Mutual Fund files offer document with Sebi to launch ABN Amro Fixed Term Plan -Series 14 -Plan A to L. It is a close-ended income scheme. The scheme will have 12 plans A to L with duration between 1 year and 3 year. The primary objective of the schemes to generate growth of capital through investments made in a basket of fixed income securities in line with the duration of plans under the scheme. 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.
Lotus India MF Files Offer Document - July 19 , 2008
Lotus India Mutual Fund filed to launch Lotus India Fixed Maturity Plan - 18 months - Series II. It is a close-ended debt scheme. The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme. Lotus India FMP - 18 months - Series II has two plans regular plan and institutional plan. The investors will have a choice of two options viz. growth option and dividend re-investment facility. The scheme will mature at the end of 18 months from the date of allotment of the scheme.
Mirae MF Files Offer Document With Sebi - July 19, 2008
Mirae Mutual Fund filed offer document with Sebi to launch Mirae Asset Call Money Fund. It's an open-ended liquid scheme. The investment objective of the scheme is seek to generate returns linked to short end rates like MIBOR, Call rates and CBLO etc. and provide higher liquidity by investing in a portfolio of debt and money market instruments. The scheme offers dividend, growth and bonus options. The scheme will invest 65%-100% in CBLO/reverse repo, debt instrument linked to short end rates such as MIBOR etc. and MIBOR linked instruments with daily put/call options. The scheme cans investment up to 35% in debt and money market instruments. The Scheme may invest up to 30% of net assets in securitized debt. The scheme shall not engage into stock lending.
Friday, July 18, 2008
UTI MF declares dividend under Fixed Income Interval Fund - July 18, 2008
UTI Mutual Fund has announced the dividend under dividend option of UTI Fixed Income Interval Fund-Annual Interval Plan-Series I. The record date for the declaration of dividend is 23 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 10.7684 and that of under institutional plan was at Rs 10.8190 as on 15 July 2008. UTI Fixed Income Interval Fund- Annual Interval Plan-Series I was launched in July 2007. It is a debt oriented interval scheme with income-oriented portfolio consisting Gsecs and other fixed income and debt securities.
Funds assume active strategy to beat bear mkt - July 18, 2008
Mumbai: Even in the volatile equity markets, some equity schemes of mutual funds are surpassing their benchmark indices. Fund managers say this has been got by proactive churning of portfolios. This mitigates the downside risks associated with sectors that are getting impacted by higher interest rates, commodity prices and inflation. Equity funds are increasing their exposure to healthcare, telecom services or consumer non-durables, as they see them as safe bet. HSBC Equity Fund (HEF) has given a CAGR of 56.25 per cent compared to 43.40 per cent for BSE 200, for the last five years. HEF has decreasted exposure to certain sectors like automobile to insignificant levels, cement, media & entertainment in June 2008 compared with December 2007. At the same time, HEF increased exposure to pharmaceuticals consumer non-durables, petroleum products and telecom services during the past six months.
Thursday, July 17, 2008
Fidelity MF changes the legal name of its companies - July 17, 2008
Fidelity MF has been changed the legal names of companies within Fidelity group effective from 13 June 2008. Further, it has been decided that the names of the following entities forming part of offer documents have also been changed as given below with effect from 16 July 2008:
Birla Sun Life MF declares dividend - July 17, 2008
Birla Sun Life Mutual Fund has declared dividend under the dividend option of the Birla Sun Life Quarterly Interval Fund - Series 6. The fund house has fixed 21 July 2008 as the record date for the declaration of dividend.
The fund house has decided to distribute 100% of surplus available as on record date as dividend under the schemes. The NAV of Birla Sun Life Quarterly Interval Fund - Series 6 was Rs 10.2067 as on 15 July 2008.
Birla Sun Life Quarterly Interval Fund - Series 6 is an interval income scheme with an investment objective to generate regular income through investments in debt and money market instruments.
The fund house has decided to distribute 100% of surplus available as on record date as dividend under the schemes. The NAV of Birla Sun Life Quarterly Interval Fund - Series 6 was Rs 10.2067 as on 15 July 2008.
Birla Sun Life Quarterly Interval Fund - Series 6 is an interval income scheme with an investment objective to generate regular income through investments in debt and money market instruments.
Wednesday, July 16, 2008
HSBC MF files an offer document with Sebi - July 16, 2008
HSBC Mutual Fund files an offer document with Sebi to launch HSBC Long Term Strategic Bond Fund. It is a 3-year close-ended debt scheme. The investment objective of the scheme is to provide reasonable income through a diversified portfolio of fixed income securities. HSBC Long Term Strategic Bond Fund offers regular and institutional option. The scheme has two sub-options dividend and growth option. Dividend option further offers dividend reinvestment and payout facility. Dividend shall be declared on a quarterly basis under dividend option for both the options i.e. regular and institutional option.
HSBC MF files an offer document with Sebi - July 16, 2008
HSBC Mutual Fund files an offer document with Sebi to launch HSBC Long Term Strategic Bond Fund. It is a 3-year close-ended debt scheme. The investment objective of the scheme is to provide reasonable income through a diversified portfolio of fixed income securities. HSBC Long Term Strategic Bond Fund offers regular and institutional option. The scheme has two sub-options dividend and growth option. Dividend option further offers dividend reinvestment and payout facility. Dividend shall be declared on a quarterly basis under dividend option for both the options i.e. regular and institutional option.
Fidelity MF files an offer document - July 16, 2008
Fidelity Mutual Fund filed an offer document to launch Fidelity Fixed Maturity Plan- Series I. It is a close-ended debt scheme with six plans- Plans A to F. Plan shall be matured at the end of 370 days from the date of allotment of units. The primary objective of the scheme is to seek to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short-term debt instruments. The scheme offers investment options namely dividend and growth.
Tuesday, July 15, 2008
Birla Sun Life MF launches FTP AZ - July 15, 2008
Birla Sun Life Mutual Fund launched Birla Fixed Term Plan-Series AZ. It is a close end debt scheme. 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.
ICICI MF declares dividend under two equity funds - June 15, 2008
ICICI Mutual Fund has announced 18 July 2008 as the record date for declaration of dividend under dividend option of both ICICI Prudential Tax Plan and ICICI Prudential Emerging S.T.A.R. Fund. The fund house has decided to distribute a dividend of 15% i.e. Rs 1.50 per unit on the face value of Rs 10 under both ICICI Prudential Tax Plan and ICICI Prudential Emerging S.T.A.R. Fund.
The NAV for the scheme under dividend option of ICICI Prudential Tax Plan was Rs. 17.29 as on 10 July 2008. The NAV under retail option of ICICI Prudential Emerging S.T.A.R. Fund was Rs 15.60 and that of under institutional option I was Rs 10.18 as on 10 July 2008. ICICI Prudential Tax Plan is an open-ended equity linked saving scheme with an investment objective to seek to generate long-term capital appreciation. ICICI Prudential Emerging S.T.A.R. Fund is an open-ended equity scheme, aims of generating capital appreciation by actively investing in a diversified mid cap stocks.
Monday, July 14, 2008
Kotak Mutual Fund Declares Under The Dividend Option - July 14, 2008
Kotak Mutual Fund has declared dividend under the dividend option of Kotak Fixed Maturity Plan 1M Series 1. The fund house has fixed 17 July 2008 as the record date for the payment of dividend. The fund house has decided to distribute 100% of surplus available under dividend plan as on record date. The NAV of the scheme was recorded at Rs 10.0532 as on 10 July 2008. Pursuant to payment of dividend, the NAV would fall to the extent of dividend payout and statutory levy, if applicable. Kotak Fixed Maturity Plan 1M Series 1 is a close-ended debt scheme. The primary investment objective of the scheme is to seek to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.
ING MF Of New Fund-Offering (NFO) Of ING Latin America Equity Fund - July 14, 2008
ING mutual fund has extended the closing date of new fund-offering (NFO) period of ING Latin America Equity Fund to 18 July 2008 instead of 10 July 2008. The issue was opened for subscription on 19 June 2008. ING Latin America Equity Fund is 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. The minimum investment amount is Rs 5,000 and in multiples of Re 1 thereafter. The scheme will offer growth, bonus and dividend options.
Mfs To Rs 10 Cr For Sebi Should Enhance Networth - July 14, 2008
To ensure that only serious players with a long-term view enter the mutual funds space, market regulator Sebi should enhance the networth limit for companies seeking MF license to Rs 10 crore from the present Rs 2 crore,CII and PWC said in their joint report. With the high cost of operations in the initial years and a relatively longer gestation period, there is a case for re-consideration of Rs 10 crore networth criteria set from the present Rs 2 crore for obtaining a mutual fund license, the report said.
This would ensure that only major players who are committed to the mutual fund industry are capable of sustaining over a long-term would be able to operate in the industry, the report said. With more players entering the industry, the fee rates are likely to drop in the period ahead and may prompt the fund houses to seriously consider outsourcing, it said. Moving ahead, MF players would also have to bridge the demand-supply gap of human-assets needs and the companies should tie-up with educational institutions to offer programmes dedicated to the financial services industry, the report said. Similarly, there was a case for re-consideration of cap on the maximum amount of expenses that can be charged to a scheme, it said.
Charging additional expenses would enable the fund houses to invest more on expanding the investor network and improvise on delivering quality services to the investors, it said. In the longer-term, MF players will also have to enhance their association with other sectors such as banking and telecommunications to achieve deeper penetration in Tier-II and Tier-III cities, the report said. A few fund houses with deep pockets may be able to make necessary investments in the required technology. But in the long term, it is indeed necessary to join hands with other sectors of the economy such as banking and telecommunications for the long-term benefit of all players in the industry, it said. Meanwhile, mounting cost of operations, including the lease rentals and staff costs are likely to pose the biggest challenges before MF players, the report said.
This would ensure that only major players who are committed to the mutual fund industry are capable of sustaining over a long-term would be able to operate in the industry, the report said. With more players entering the industry, the fee rates are likely to drop in the period ahead and may prompt the fund houses to seriously consider outsourcing, it said. Moving ahead, MF players would also have to bridge the demand-supply gap of human-assets needs and the companies should tie-up with educational institutions to offer programmes dedicated to the financial services industry, the report said. Similarly, there was a case for re-consideration of cap on the maximum amount of expenses that can be charged to a scheme, it said.
Charging additional expenses would enable the fund houses to invest more on expanding the investor network and improvise on delivering quality services to the investors, it said. In the longer-term, MF players will also have to enhance their association with other sectors such as banking and telecommunications to achieve deeper penetration in Tier-II and Tier-III cities, the report said. A few fund houses with deep pockets may be able to make necessary investments in the required technology. But in the long term, it is indeed necessary to join hands with other sectors of the economy such as banking and telecommunications for the long-term benefit of all players in the industry, it said. Meanwhile, mounting cost of operations, including the lease rentals and staff costs are likely to pose the biggest challenges before MF players, the report said.
Saturday, July 12, 2008
Benchmark MF Files An Offer Document - July 12, 2008
Benchmark Mutual Fund files an offer document to launch Benchmark International Exchange Traded Fund. It is an open-ended exchange listed scheme. The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the returns of Hang Seng Index of Hong Kong Exchanges and Clearing However; the performance of the scheme may differ from that of the underling index due to tracking error. The fund will invest 90%-100% in securities, which are constituents of Hang Seng Index, derivatives linked to Hang Seng Index and units of mutual fund scheme based on Hang Seng Index. It will have 0-10% investment in money market instruments or government securities bonds, debt instruments and cash at call.
Sahara MF Files Offer Document With Sebi - July 12, 2008
Sahara Mutual Fund filed offer document with Sebi to launch Sahara Interval Fund. The scheme is a debt oriented interval fund. The investment objective of the scheme is to generate returns with low volatility through a portfolio of debt and money market instruments with provision to offer liquidity at periodic intervals. The scheme will have two investment plans viz. dividend and growth option. The dividend option will have the sub option of dividend reinvestment. The fund will invest up to 100% in money market instruments. It will have an investment of 100% in government securities issued by Central &/or State Government & other fixed income / debt securities including but not limited to corporate bonds and securitized debt.
Kotak MF Declares Dividend - July 12, 2008
Kotak Mutual Fund has declared dividend under the dividend option of Kotak Fixed Maturity Plan 3 Months Series 29. The fund house has fixed 15 July 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 10.1969 as on 8 July 2008. Kotak Fixed Maturity Plan 3 months Series 29 was launched in April 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.
Friday, July 11, 2008
Max New York Life Forges Alliance With Ioc - July 11, 2008
Max New York Life Insurance has forged an alliance with Indian Oil Corporation to spruce up the sale of its insurance products in rural areas. Max New York Life, as per the agreement, can sell its insurance products through the 2,000 Kisan Seva Kendras. IOC has used the Kisan Seva Kendras to sell fuel, lubricants, insecticides, fertilisers, financial services and FMCG products to the rural markets. Max New York Life will start by setting up offices at 100 such Kisan Seva Kendras across Punjab, Haryana, Gujarat and western Uttar Pradesh. Eventually, this model will be extended to other Kisan Sewa Kandras also across the country.
Mutual Funds Continue Buying Shares - July 11, 2008
Mutual funds (MFs) bought shares worth a net Rs 204.70 crore on 9 July 2008 compared to their buying of Rs 181.70 crore on Tuesday, 8 July 2008. MFs' net inflow of Rs 204.70 crore on Wednesday 9 July 2008 was a result of gross purchases Rs 713.50 crore and gross sales Rs 508.80 crore. Sensex surged 614.61 points or 4.6% at 13,964.26 on that day. MFs were net buyers of shares worth Rs 712.40 crore in this month, till 9 July 2008.
Principal Pnb MF Launches Principal Pnb FMP 30 Days-Series I - July 11, 2008
Principal Pnb MF has unveiled a new fund called Principal Pnb FMP 90 days-Series I and it is a close-ended debt scheme offering Fixed Maturity Plan. The investment objective of the Scheme is to seek to build an income oriented portfolio and generate returns through investment in Debt / Money Market Instruments and Government Securities. The Scheme will have two Investment Plans viz. Regular Plan and Institutional Plan with growth and dividend options under each plan. The Regular Plan and Institutional Plan will share a common portfolio. Further, the dividend option under both plans will have the facility of Payout and Sweep. The fund will invest 0%-100% in debt securities (including securitized debt) and money market instruments. It will have an investment of 0-100% in government securities.
Thursday, July 10, 2008
Mutual Funds Step Up Buying - July 10, 2008
Mutual funds (MFs) bought shares worth a net Rs 227 crore on 8 July 2008 compared to their buying of Rs 44.20 crore on Monday, 7 July 2008. MFs' net inflow of Rs 227 crore on Tuesday 8 July 2008 was a result of gross purchases Rs 600.30 crore and gross sales Rs 373.30 crore. Sensex lost 176.34 points or 1.3% at 13,349.65 on that day. MFs were net buyers of shares worth Rs 553 crore in this month, till 8 July 2008.
HDFC MF Declares Dividend - July 10, 2008
HDFC Mutual Fund has announced 14 July 2008 as the record date for declaration of dividend under dividend option of HDFC Quarterly Interval Fund-Plan B. The Fund house had decided to offer dividend under both retail plan and wholesale plan.
The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV for the scheme under retail plan with normal dividend option was Rs. 10.2290 as on 7 July 2008. HDFC Quarterly Interval Fund-Plan B is an open-ended interval income scheme. The investment objective of the scheme is to seek to generate regular income through investments in debt / money market instruments and government securities. The scheme will charge 0.75% as an exit load if investments redeemed on any day other than during the specified transaction period.
The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV for the scheme under retail plan with normal dividend option was Rs. 10.2290 as on 7 July 2008. HDFC Quarterly Interval Fund-Plan B is an open-ended interval income scheme. The investment objective of the scheme is to seek to generate regular income through investments in debt / money market instruments and government securities. The scheme will charge 0.75% as an exit load if investments redeemed on any day other than during the specified transaction period.
Reliance MF launches Fixed Horizon Fund - IX- Series 2 - July 10, 2008
Reliance MF has unleashed Reliance Fixed Horizon Fund - IX- Series 2 and it is a close-ended income scheme. The maturity of the scheme is 15 months from the date of allotment. The investment objective of 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 scheme with the objective of limiting interest rate volatility. The scheme will have a retail and institutional plan and each plan will have a growth and dividend option. Dividend option further offers dividend payout facility.
Wednesday, July 9, 2008
SBI MF Collect Rs 170 Crores Via SBI Debt Fund - July 9, 2008
SBI Mutual Fund has collected Rs 170 crores via SBI Debt Fund Series-30 Days-3 during its new fund offer period i.e. from 30 June to 2 July 2008. SBI Debt Fund Series-30 Days-3 is close-ended debt scheme. The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in portfolio comprising of debt instruments such as government securities, AAA+ bonds and money market instruments.
Principal PNB MF Collects Rs.220 Crore - July 9, 2008
Principal PNB Mutual Fund has collected Rs 220 crores via Principal Pnb Fixed Maturity Plan - 91 days - Series XVI during its new fund offer period i.e. from 25 June to 2 July 2008. Principal PNB -Fixed Maturity Plan -91 Days-Series XVI is a close-ended debt scheme with an objective to build an income oriented portfolio and provide returns along with regular liquidity to the investor.
The scheme charges an exit load of 1% if the investment is redeemed before maturity. There is no exit load charged if the investment is redeemeed on maturity. The fund will invest up to 100% in debt securities and money market instruments including securitised debt. Investment in government securities will be up to 100%.
The scheme charges an exit load of 1% if the investment is redeemed before maturity. There is no exit load charged if the investment is redeemeed on maturity. The fund will invest up to 100% in debt securities and money market instruments including securitised debt. Investment in government securities will be up to 100%.
UTI MF Declares Dividend Under FMP - July 9, 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 14 July 2008. The quantum of dividend will be 100% of distributable surplus available on the record date. The NAV for the scheme under both retail and institutional plan was at Rs 10.0534 as on 4 July 2008.
UTI Fixed Income Interval Fund-Monthly Interval Plan-Series II was launched in November 2007. It is a debt oriented interval scheme with income-oriented portfolio consisting Gsecs and other fixed income and debt securities. The investment objective of the scheme is generating regular income by investment in debt/money market instruments and Govt Securities having suitable maturity.
UTI Fixed Income Interval Fund-Monthly Interval Plan-Series II was launched in November 2007. It is a debt oriented interval scheme with income-oriented portfolio consisting Gsecs and other fixed income and debt securities. The investment objective of the scheme is generating regular income by investment in debt/money market instruments and Govt Securities having suitable maturity.
Tuesday, July 8, 2008
ICICI Prudential AMC Branch At Begumpet - July 8, 2008
Hyderabad: ICICI Prudential AMC has set up a new branch at Linus Towers, Begumpet. This is its second branch in the city. The branch has been opened as part of its continuous efforts towards aiding investor convenience and facilitating wealth creation.
Deutsche MF Mulls To Launch DWS Fixed Term Fund Series 55 - July 8, 2008
Deutsche MF plans to roll out a new fund called DWS Fixed Term Fund Series 55 and it is close-ended debt fund with duration of 12-18 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 regular and institutional plans with dividend and growth option. The dividend option will further provide a sub option of payout. The scheme will invest up to 100% in domestic debt instruments including government securities & money market instruments and securitized debt including cash and cash equivalents. Investment in securitized debt would be up to a maximum of 100% of the net assets. Investment in derivatives will be up to 50% of the net asset of the scheme.
The scheme offers regular and institutional plans with dividend and growth option. The dividend option will further provide a sub option of payout. The scheme will invest up to 100% in domestic debt instruments including government securities & money market instruments and securitized debt including cash and cash equivalents. Investment in securitized debt would be up to a maximum of 100% of the net assets. Investment in derivatives will be up to 50% of the net asset of the scheme.
Dhanalakshmi Bank Forges Alliance With Birla Sunlifebank - July 8, 2008
Kochi: Birla SunLife Asset Management Ltd, the investment managers for Birla SunLife Mutal Fund (BSLMF), has formed alliance its with Kerala-based Dhanalakshmi Bank under which the customers of the bank would now be offered mutual fund investment products. This tie-up will enhance BSLMF's reach in the category of mutual fund investors across the country, especially in South India.
Monday, July 7, 2008
HSBC MF Declares Dividend - July 7, 2008
HSBC Mutual Fund has announced 10 July 2008 as the record date for declaration of dividend under dividend option of HSBC Fixed Term Series 32. The fund house has decided to distribute 100% of surplus available as on record date.
The NAV for the scheme under regular plan was Rs. 10.9102 while that of institutional plan was Rs 10.9515 as on 3 July 2008. HSBC Fixed Term Series 32 is a close-ended income scheme, which seeks to generate reasonable returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of plan. The scheme will charge 2% exit load if investment units redeemed before maturity.
The NAV for the scheme under regular plan was Rs. 10.9102 while that of institutional plan was Rs 10.9515 as on 3 July 2008. HSBC Fixed Term Series 32 is a close-ended income scheme, which seeks to generate reasonable returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of plan. The scheme will charge 2% exit load if investment units redeemed before maturity.
Birla Sun Life MF Declares Dividend - July 7, 2008
Birla Sun Life Mutual Fund has declared dividend under the dividend option of the Birla Sun Life Quarterly Interval Fund - Series 5. The fund house has fixed 9 July 2008 as the record date for the declaration of dividend. The fund house has decided to distribute 100% of surplus available as on record date as dividend under the schemes. The NAV of Birla Sun Life Quarterly Interval Fund - Series 5 was Rs 10.1972 as on 3 July 2008. Birla Sun Life Quarterly Interval Fund - Series 5 is an interval income scheme with an investment objective to generate regular income through investments in debt and money market instruments.
IDFC MF Files Offer Document - July 7, 2008
IDFC MF is planning to unleash India GDP Growth Fund and it is an open-ended equity scheme. The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in equity and equity related instruments. The scheme aims to capture the growth in India's Gross Domestic Product (GDP). The scheme would endeavor to represent the growth in GDP by capturing the growth in the constituents of the GDP. The scheme may also invest in debt and money market instruments. There are two options available under the scheme viz. growth option and dividend option. The minimum application amount is Rs. 5000 and in multiples of Re 1 thereafter.
Saturday, July 5, 2008
UTI MF Launches Short Term Fixed Maturity Plan - July 5, 2008
UTI Mutual Fund launched UTI Short Term Fixed Maturity Plan -Series I-I (90 days). This is a close-ended income scheme with plan tenure of 90 days. The objective of the scheme is to generate regular returns by investing in portfolio of fixed income securities normally maturing in line with the maturity period of the plan. The scheme offers investors growth option and dividend option. The fund will invest 0-90% in debt including securitised debt. The scheme will invest 10-100% in money market instruments. The investment in securitised debt will be up to 100%.
Mutual Funds Continue Buying - July 5, 2008
Mutual funds (MFs) bought shares worth a net Rs 241.50 crore on Thursday 3 July 2008 compared to their buying of Rs 299.50 crore on Wednesday, 2 July 2008. MFs' net inflow of Rs 241.50 crore on Thursday 3 July 2008 was a result of gross purchases Rs 873.10 crore and gross sales Rs 631.60 crore. Sensex slumped 570.51 points or 4.18% at 13,094.11 on that day. MFs were net buyers of shares worth Rs 347.50 crore in this month, till 3 July 2008.
Karnataka Bank Ties Up With ICICI Prudential To Vend MF Products - July 5, 2008
Mangalore: Karnataka Bank Ltd has entered into an agreement with ICICI Prudential Asset Management Company for distribution of the latter's mutual fund products. The bank has already been distributing the mutual fund products of Franklin Templeton Asset Management (India) Ltd and TATA Mutual Fund.
Friday, July 4, 2008
Birla Sun Life MF Declares Dividend - July 4, 2008
Birla Sun Life Mutual Fund announced to declare dividend under the dividend option of the Birla Sun Life Fixed Term Plan -Series X.
The fund house fixed 7 July 2008 as the record date for the declaration of dividend. The fund house has decided to distribute 100% of surplus available as on record date as dividend under the schemes.
The NAV of Birla Sun Life Fixed Term Plan - Series X under retail plan was Rs 10.9067 and that of under institutional plan was Rs. 10.9493 as on 1 July 2008. Birla Sun Life Fixed Term Plan - Series X is a close -end income scheme. The primary objective of the scheme is to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme
Tata MF launched Tata Fixed Investment Plan;2;Scheme B - July 4, 2008
Tata Mutual Fund launched Tata Fixed Investment Plan-2-Scheme B. The scheme is a close end debt scheme 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 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.
Lotus India MF launches FMP:375 Days:Series XIII - July 4, 2008
Lotus India Mutual Fund launched Lotus India Fixed Maturity Plan-375 Days-Series XIII. This scheme is a close-ended debt scheme. Lotus India Fixed Maturity Plan - 375 Days - Series XIII offers two plans regular and institutional. Both plan offer two options i.e. growth and dividend reinvestment. The objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme.
Thursday, July 3, 2008
DSP ML MF Extends NFO Period Under FMP-3M-Series 11 - July 3, 2008
DSP Merrill Lynch mutual fund has extended the closing date of new fund-offering (NFO) period of DSP Merrill Lynch Fixed Maturity Plan-3 Months-Series 11 to 7 July 2008 instead of 2 July 2008. The issue was opened for subscription on 27 June 2008. DSP Merrill Lynch Fixed Maturity Plan- 3 Months- Series 11 is a close-ended income schemes with maturity profile of 3 months. The NFO price for the fund is Rs 10 per unit. The minimum investment amount is Rs. 5,000 and in multiple of Re 1 thereafter.
UTI MF Has Prepones NFO Period - July 3, 2008
UTI Mutual Fund has preponed the closing date of new fund-offering (NFO) period of UTI - Fixed Maturity Plan Quarterly Series (QFMP 07/08-I) which is opened for sale from 1 July 2008, will now close on 03 July 2008 instead of 15 July 2008. UTI - Fixed Maturity Plan Quarterly Series (QFMP 07/08-I) is close-ended umbrella income fund.
The scheme seeks to generate regular income through investment in debt and money market instrument and government securities with suitable maturity. The primary investment objective of the scheme is to seek regular returns by investing in 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 charge 1% of the NAV as an exit load if redeemed on or before 90 days from the date of closure of the offer of the plan and no load will be charged twhereafter.
The scheme seeks to generate regular income through investment in debt and money market instrument and government securities with suitable maturity. The primary investment objective of the scheme is to seek regular returns by investing in 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 charge 1% of the NAV as an exit load if redeemed on or before 90 days from the date of closure of the offer of the plan and no load will be charged twhereafter.
IDFC MF Files Offer Document - July 3, 2008
IDFC Mutual Fund filed offer document to launch IDFC Fixed Maturity Plus Plan - Eighteen Months Series with Plans 1-3. IDFC Fixed Maturity Plus Plan - Eighteen Months Series is a close-ended income scheme with three plans - i.e. plan 1 to 3. IDFC Fixed Maturity Plus Plan - Eighteen Month Series 1, IDFC Fixed Maturity Plan - Eighteen Months Series 2, IDFC Fixed Maturity Plus Plan - Eighteen Months Series 3. Each Plan under the scheme will have two sub plans viz Plan A and Plan B.
Wednesday, July 2, 2008
Canara Robeco MF Files An Offer Document With Sebi - July 2, 2008
Canara Robeco Mutual Fund filed an offer document with Sebi to launch Canara Robeco Financial Opportunities, Retail Consumption & Entertainment Fund (F.O.R.C.E Fund).
It is open-ended equity scheme. The objective of the scheme is to provide long-term capital appreciation by primarily investing in equity and equity related securities of companies in the Finance, Retail & Entertainment sector.
The investors will have the choice of two plans i.e. retail and institutional. Each plan will have two options viz. dividend and growth option. Dividend option will further offer dividend payout and reinvestment facility.
It is open-ended equity scheme. The objective of the scheme is to provide long-term capital appreciation by primarily investing in equity and equity related securities of companies in the Finance, Retail & Entertainment sector.
The investors will have the choice of two plans i.e. retail and institutional. Each plan will have two options viz. dividend and growth option. Dividend option will further offer dividend payout and reinvestment facility.
UTI MF launches New FTI Fund Series - July 2, 2008
UTI Mutual Fund launched UTI Fixed Term Income Fund- Series V-I (13 Months). It is a close-ended income scheme with plan tenure of 12-24 months.
The objective of the scheme is to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity period of the plan.
The scheme offers two options i.e. growth and dividend. The scheme will have investment up to 0-95% in money market instruments. It will invest 5-100% in debt including securitised debt.
The plan may invest up to 100% of its debt portfolio in securitised debt.
The objective of the scheme is to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity period of the plan.
The scheme offers two options i.e. growth and dividend. The scheme will have investment up to 0-95% in money market instruments. It will invest 5-100% in debt including securitised debt.
The plan may invest up to 100% of its debt portfolio in securitised debt.
Fidelity Announces New Business Initiative In India - July 2, 2008
Fidelity International on 30 June 2008 announced that it would launch its world-renowned, award winning, online fund platform, FundsNetworkTM in India.
FundsNetworkTM will be an open architecture fund platform that will offer online a range of funds from a number of fund houses.
It will help intermediaries to grow their business by allowing them to focus on customer acquisition, advice and relationship management.
India will be the 5th country in the Fidelity Group to launch FundsNetworkTM, after the U.S., U.K., Germany and Taiwan. In Phase 1, Fidelity on 30 June 2008 launched the Fidelity Advisers Institute, Fidelity's centre for excellence, for advisers.
FundsNetworkTM will be an open architecture fund platform that will offer online a range of funds from a number of fund houses.
It will help intermediaries to grow their business by allowing them to focus on customer acquisition, advice and relationship management.
India will be the 5th country in the Fidelity Group to launch FundsNetworkTM, after the U.S., U.K., Germany and Taiwan. In Phase 1, Fidelity on 30 June 2008 launched the Fidelity Advisers Institute, Fidelity's centre for excellence, for advisers.
Tuesday, July 1, 2008
Sahara MF To Scale-Up Operations - July 1, 2008
The Sahara group's asset management arm, Sahara Mutual Fund, plans to ramp up its operations and would launch nine more equity and debt-related funds this year.
The company aims to double its customer-base to two lakh by the year-end while enhancing its branch network to 30 during the period. Sahara MF presently offers seven equity schemes and nine debt-related schemes.
The company's Assets Under Management (AUM) stands at nearly USD 60 mn. The equity schemes include Sahara Growth Fund, Tax Gain Fund, Midcap Fund, Wealth Plus Fund, Infrastructure Fund, Real Fund, Power and Natural Resources Fund.
The company aims to double its customer-base to two lakh by the year-end while enhancing its branch network to 30 during the period. Sahara MF presently offers seven equity schemes and nine debt-related schemes.
The company's Assets Under Management (AUM) stands at nearly USD 60 mn. The equity schemes include Sahara Growth Fund, Tax Gain Fund, Midcap Fund, Wealth Plus Fund, Infrastructure Fund, Real Fund, Power and Natural Resources Fund.
Tata MF Declares Dividend - July 1, 2008
Tata Mutual Fund has announced the declaration of dividend under periodic dividend option for Tata Fixed Horizon Fund-Series 12-Scheme A. The record date is set as 4 July 2008.
The AMC decided to distribute up to 100% of the net distributable surplus available on the record date will be distributed as dividend. The NAV for the scheme under regular quarterly dividend option was Rs.10.2104 and that of under institutional option was Rs 10.2103 as on 26 June 2008. Tata Fixed Horizon Fund-Series 12 -Scheme A was launched in May 2007.
It is a close-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.
The AMC decided to distribute up to 100% of the net distributable surplus available on the record date will be distributed as dividend. The NAV for the scheme under regular quarterly dividend option was Rs.10.2104 and that of under institutional option was Rs 10.2103 as on 26 June 2008. Tata Fixed Horizon Fund-Series 12 -Scheme A was launched in May 2007.
It is a close-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.
ICICI Prudential MF Filed An Offer Document With SEBI - July 1, 2008
ICICI Prudential Mutual Fund filed an offer document with SEBI to launch ICICI Prudential Interval Fund- Series IV.
It is a debt oriented interval scheme. The scheme plans to launch five quarterly interval plans- ICICI Prudential Interval Fund- Series IV- A to E.
The investment objective of the plan is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Presently, there are two options available under each plan of the scheme i.e., institutional option and retail option.
Cumulative and dividend sub-options will be available under the scheme. Dividend payout and reinvestment are the facilities available under dividend sub-option.
Retail option shall be the default option; dividend reinvestment shall be default sub option.
It is a debt oriented interval scheme. The scheme plans to launch five quarterly interval plans- ICICI Prudential Interval Fund- Series IV- A to E.
The investment objective of the plan is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Presently, there are two options available under each plan of the scheme i.e., institutional option and retail option.
Cumulative and dividend sub-options will be available under the scheme. Dividend payout and reinvestment are the facilities available under dividend sub-option.
Retail option shall be the default option; dividend reinvestment shall be default sub option.
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