Canara Robeco MF Investment Management Services Ltd - Nov 28, 2008

Background: Canbank Investment Management Services Ltd. is a wholly owned subsidiary of Canara Bank, established in 1906, is a leading Nationalized Bank operating in India abroad through its network of branches in India and offices in London, Moscow, UAE and Hong Kong. It has commenced it operation from 19 December 1987. Fund house manages assets worth Rs 3985.21 crore at the end of October 2008.

Canara Robeco Equity Diversified (G) an open-ended equity diversified scheme launched in August 2003. The objective of the scheme is to generate capital appreciation by investing in equity and equity related securities. The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 22.61 as on 26 November 2008.

The total net assets of the scheme decreased by Rs 34.53 crore to Rs 116.74 crore in October 2008.Canara Robeco Equity Diversified (G) took fresh exposure to nine stocks in October 2008. The scheme has purchased 1.38 lakh units (1.94%) of Jubilant Organosys, 38500 units (1.77%) of Tata Consultancy Services (TCS) and 84000 units (1.22%) of Ranbaxy Laboratories among others in October 2008.

The scheme completely exited from ITC by selling 4.00 lakh units (4.97%), Axis Bank by selling 36,000 units (1.71%) and Sterlite Industries (India) by selling 50,000 units (1.42%) in October 2008.Sector-wise, the scheme took fresh exposure to Petrochemicals at 1.94%, Pharmaceuticals Indian - Bulk Drugs & Formulation at 1.22%, Finance & Investments at 0.78% and Automobiles - Passenger Cars at 0.48% in October 2008.

Sector-wise, the scheme exited completely from Cigarettes at 4.97% in October 2008.The scheme had highest exposure to Reliance Industries with 76500 units (8.98% of portfolio size) followed by Bharti Airtel with 1.20 lakh units (6.67%), Larsen & Toubro with 74000 units (5.10%), and State Bank of India with 43500 units (4.13%) among others in October 2008.

It has reduced its exposure to Bank of India by selling 1.03 lakh units to 52000 units (by 1.83%), NTPC by selling 1.41 lakh units to 1.30 lakh units (by 1.52%), Punj Lloyd by selling 45000 units to 40000 units (by 1.01%) and Bajaj Auto by selling 26200 to 33000 units (by 0.80%) among others in October 2008.

Sector-wise, the scheme had highest exposure to Banks - Public Sector at 10.45% (9.25% in September 2008), followed by Telecommunications - Service Provider at 9.99% (9.54%), Refineries at 8.98% (8.62%) and Computers - Software - Large at 6.93% (3.51%) among others in October 2008.

Sector wise, the scheme had reduced exposure to Construction to 3.01% (by 1.87%), Mining / Minerals / Metals to 0.05% (1.41%), Engineering - Turnkey Services to 5.81% (0.96%) and Automobiles - Scooters and 3 – Wheelers to 1.54% (0.80%) among others in October 2008.The scheme outperformed the category average over most of the time periods. It outperformed the Sensex over all time periods.

Over three-month period ended as on 26 November 2008, the scheme posted negative returns of 33.14% outperforming the category average, which posted negative returns of 35.59%. It outperformed the Sensex that has posted negative returns of 39.82% during the same period.Since inception, the scheme posted negative returns of 122.41% outperforming the category average of 61.62%.

Taurus 100% Of Distributable On The Record Date - Nov 28, 2008

Taurus Mutual Fund has declared dividend under dividend option of Taurus Fixed Maturity Plan 30 Days - Series 2. 01 December 2008is the record date for the dividend. The fund house has decided to offer dividend for both plans. retail and institutional plans. The quantum of dividend will be 100% of distributable surplus as on the record date of the scheme. The NAV as on 25 November 2008 for the Taurus Fixed Maturity Plan 30 Days - Series 2 was Rs 10.0821 per unit.

Fortis MF Withdraws Fortnightly Optionupto 85% - Nov 28, 2008

Fortis Mutual Fund has withdrawn fortnightly dividend payout option under Fortis Bond Fund with instant effect. The scheme continues to offer monthly, quarterly and annual dividend options. Fortis Bond Fund, the open ended debt fund invests upto 85% of the amount in money market, instruments and the rest in other debt securities.

Principal Pnb Mf Reiterated Its Business In India - Nov 28, 2008

The Principal Financial Group and its Indian asset management arm - Principal Pnb Asset Management have reiterated its commitment to India. According to them, they want to make a strong presence in India along with long term policy. They have also reassured investors that their financial position is strong, stable and profitable even in the current global turmoil. Recently, in the US, Moody's, a global rating agency, reaffirmed the debt ratings of Principal Financial Group and Principal Financial Services, Inc., all with a stable outlook.

Max NY Life Mops Up Rs 3000 Cr Premium - Nov 27, 2008

New Delhi: Max New York Life Insurance (MNLI) has mopped up over Rs 3,000 crore premium during January-October 2008. The company has reported a 61 per cent growth over the corresponding period last year. Of the collected premium of Rs 3,000 crore, first year premium contributed to Rs 1,653 crore, while earnings from renewal premium stood at Rs 1,375 crore. It has added 1 million policyholders till date through the multi- channel distribution network. In January-October 2008 period, MNLI added more than 8,500 employees and now has over 15,000 employees. The company's agent advisors strength was touching 61,500 agents.

Taurus Fixed Maturity Plan 30 Days – Series 2 - Nov 27, 2008

Taurus Mutual Fund has declared dividend under dividend option of Taurus Fixed Maturity Plan 30 Days – Series 2. The record date for the dividend is 01 December 2008.The fund house has decided to offer dividend for both plans viz. retail and institutional plans. The quantum of dividend will be 100% of distributable surplus as on the record date of the scheme. The NAV for the Taurus Fixed Maturity Plan 30 Days – Series 2 was Rs 10.0821 per unit as on 25 November 2008.

Sundaram Bnp Paribas Select Midcap Fund Time - Nov 27, 2008

Background: Sundaram BNP Paribas Asset Management Company Ltd., a fully owned subsidiary of Sundaram Finance. The AMC was started in 1996 as a joint venture between Sundaram Finance (61%) and Newton Investment Management (39%). Subsequent to the acquisition of Newton by US-based Mellon Financial Corporation, Sundaram Finance, in 2002, acquired the 39% stake of Newton in the AMC. The fund house manages assets worth Rs 10,574.26 crore in October 2008.

Sundaram BNP Paribas Select Midcap Fund (G) an open-ended diversified scheme launched in June 2002. The objective of the scheme is to achieve capital appreciation by investing in a diversified basket of midcap stocks. The unit NAV of the scheme was Rs 56.65 as on 25 November 2008.

Portfolio: The total net assets of the scheme decreased by Rs 314.38 crore to Rs 959.25 crore in October 2008.Sundaram BNP Paribas Select Midcap Fund (G) took fresh exposure to three new stocks in October 2008. The scheme has purchased 12.26 lakh units (1.41%) of GVK Power & Infrastructure, 4.76 lakh units (1.30%) of Siemens, 2.02 lakh units (0.17%) of Sesa Goa in October 2008.

The scheme completely exited from Bharat Petroleum Corporation by selling 3.60 lakh units (1.02%) in October 2008. Sector-wise, the scheme took fresh exposures to Power Generation And Supply at 1.41%, Electronics - Components at 1.30% in October 2008. Sector-Wise, the scheme did not exit completely from any sector in October 2008.

The scheme had highest exposure to Canara Bank with 19.73 lakh units (3.40% of Portfolio) followed by Bank of Baroda with 12.60 lakh units (3.18%), Nagarjuna Construction Company with 44.43 lakh units (2.91%), Indraprastha Gas with 26.35 lakh units (2.85%) among others in October 2008.

It reduced its exposure to Hero Honda Motors by selling 3.25 lakh units to 99612 units (by 2.12%), Monnet Ispat & Energy by selling 21871 units to 6.57 lakh units (by 1.39%), Hindustan Petroleum Corporation by selling 5.24 lakh units to 1.96 lakh units (0.98%), Madhucon Projects to 8.87 lakh units (0.69%) among others in October 2008.

Sector-wise, the scheme had highest exposure to Banks - Public Sector at 9.71% (from 4.76% in September 2008), followed by Construction at 8.27% (8.12%), Fertilizers at 6.17% (5.74%) and Pharmaceuticals - Indian - Bulk Drugs & Formulation at 3.76% (3.90%) among others in October 2008.

Sector wise, the scheme had reduced exposure to Automobiles - Motorcycles / Mopeds to 0.78% (by 2.12%), Refineries to 0.39% (by 2.00%), Steel - Sponge Iron to 1.03% (by 1.39%), and Sugar at 1.91% (by 0.76%) among others in October 2008. Performance: The scheme underperformed the category average over all the time periods. It outperformed the Sensex over most of the periods.

Over three-month period ended as on 26 November 2008, the scheme posted negative returns of 5.05% return underperforming negative category average of 3.05%. It underperformed the Sensex that posted negative returns of 2.70% during the same period.Since inception, the scheme posted negative return of 54.87% returns underperforming category average with negative returns of 51.40%.

Sachs India Money Market Fund Waits - Nov 27, 2008

Goldman Sachs Mutual Fund has filed offer document with Securities and Exchange Board of to launch Goldman Sachs India Money Market Fund. It is an open-ended money market liquid scheme. The face value of the new issue will be Rs 10 per unit.The investment objective of the scheme is to seek to provide current income, commensurate with relatively low risk while providing a high level of liquidity, primarily through a portfolio of treasury bills, government securities and other money market instruments.

The scheme will offer three investment plans: regular, institutional and super institutional plan. Each plan offers two options growth and dividend options. Dividend option will further offer monthly dividend payout and reinvestment sub option. Dividend reinvestment option will have daily, weekly, and monthly frequency.

ING MF Declares Dividend Under FMF Series 49 - Nov 26, 2008

ING Mutual Fund has announced 1 December 2008 as the record date for declaration of dividend for ING Fixed Maturity Fund - Series 49 on face value of Rs 10 per unit. The fund will offer dividend for both retail and institutional plan.

The AMC plans to distribute entire appreciation in the NAV of dividend option from the date of allotment to 1 December 2008 as dividend. The NAV under retail plan and institutional plan was at Rs 10.2501and Rs 10.2512 per unit, respectively, as on 24 November 2008.

ING Fixed Maturity Plan - Series 49 is a close -ended schemes launched in May 2008, offering an investment plan of 91 days maturity, investing in a portfolio of government securities or highly rated corporate bonds maturing close to maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity.

The scheme will invest in debt securities so as to minimize the impact of price fluctuation of such securities and the value at maturity.

ICICI Prudential MF Alters Exit Load - Nov 26, 2008

ICICI Prudential Mutual Fund has revised the exit load structure of the ICICI Prudential Interval Fund V- Monthly Interval Plan D a debt oriented interval scheme. An exit load of 2% will be applicable for all fresh investments made under the scheme. NAV will be charged, if redemptions made at anytime other than the specified transaction period of the scheme. The revised structure will be applicable on a prospective basis.

UTI MF Declares Dividend Under Half Yearly FMP Series-06/08 - Nov 26, 2008

UTI Mutual Fund has announced the dividend under dividend option of UTI Fixed Maturity Plan – Half Yearly Series –06/08. The record date for the declaration of dividend is 2 December 2008. The quantum of dividend will be 100% of distributable surplus available on the record date.

The fund house has decided to offer dividend for both retail and institutional plan of the scheme. The NAV for the scheme under both the plans was at Rs 10.4264 as on 24 November 2008.

UTI Fixed Maturity Plan- Half Yearly Series 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 fund was launched in June 2008. The scheme will charge exit load as 1% of the NAV if redeemed on or before 180 days from the date of closure of the offer of plan and no load thereafter.

Reliance MF Launches Fixed Horizon Fund -XI-Series 2 - Nov 26, 2008

Reliance MF launches Fixed Horizon Fund -XI-Series 2, NFO period from 25 November - 26 November 2008, Name of Fund: Reliance Fixed Horizon Fund- XI-Series 2, Scheme: A close-ended income scheme.NFO Opens: 25 November 2008, NFO closes: 26 November 2008, New Issue price: Rs 10 per unit,Duration: 91 days from the date of allotment.

Investment Objective: The primary investment objective of the scheme is 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.

Investment Options: Presently there are three plans available under each series of the scheme i.e. Retail, Institutional and Super institutional plan with growth and dividend option. The dividend option offers only dividend payout facility.

Asset Allocation: The fund will invest up to 85% in money market instruments. The scheme will invest 15%-100% in government securities issued by central &/or state government & other fixed income/ debt securities including but not limited to corporate bonds and securitised debt. The scheme may invest upto 100% in the debt securities.

MF Declares Dividend In IPFMP-381YD Surplus Available - Nov 25, 2008

ICICI Prudential Mutual Fund has declared dividend under dividend option of ICICI Prudential Fixed Maturity Plan-Series 38-One Year Plan D. The fund house has decided to distribute dividend upto the distributable surplus available on the record date of 27 November 2008 on the face value of Rs 10 per unit under the scheme. The scheme recorded a NAV of Rs 10.1024 per unit under retail dividend option and Rs 10.1095 per unit under institutional. dividend option as on 19 November 2008 (NAV declared once in a week i.e. on Wednesday).

ICICI Prudential Fixed Maturity Plan-Series 38-One Year Plan D is a close ended debt scheme with an investment objective 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.

JM Emerging Leaders Fund Sensex Over Sponsored - Nov 25, 2008

JM Financial Mutual Fund is one of India's first private sector mutual funds-integral parts of the first wave that commenced operations in 1993-94. JM Financial Asset Management Private Limited, the Asset Management Company of JM Financial Mutual Fund, is not a part of this joint venture. Sponsored by J.M. Financial and Investment Consultancy Services Pvt. Ltd., and co-sponsored by JM Financial Ltd., JM Financial Asset Management Private Limited started operations in December 1994. The fund house manages assets worth Rs 8075.65 crore at the end of October 2008.

JM Emerging Leaders Fund (G) an open-ended equity scheme launched in June 2005.The objective of the scheme seeks to long-term capital appreciation from investment in a portfolio of stocks across all market capitalization range. The portfolio may include those companies operating in emerging sectors of the economy or companies, which exhibit potential to become leaders of tomorrow. The minimum investment amount is Rs.5000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 3.70 as on 24 November 2008.

The total net assets of the scheme decreased by Rs 158.75 crore to Rs 163.03 crore in October 2008.JM Emerging Leaders Fund (G) took no fresh exposure to any stock in October 2008.

The scheme completely exited from Rajesh Exports by selling 28.85 lakh units (2.54%) and Praj Industries by selling 5.85 lakh units (2.26%) in October 2008.

Sector-wise, the scheme took no fresh exposure to any sector in October 2008.Sector-wise, the scheme had not exited completely from any sector in October 2008.

The scheme had highest exposure to MphasiS with 11.32 lakh units (10.61% of portfolio size) followed by Bartronics India with 15.45 lakh units (8.81%), 3i Infotech with 28.40 lakh units (7.31%) and Sintex Industries with 7.93 lakh units (7.15%) among others in October 2008.

It reduced its exposure to Bombay Rayon Fashions by selling 2.67 lakh units to 7.18 lakh units (by 2.45%), Sintex Industries by selling 2.79 lakh units to 7.93 lakh units (2.30%), Bharati Shipyard by selling 3.87 lakh units to 1.30 lakh units (by 2.29%) among others in October 2008.

Sector-wise, the scheme had highest exposure to Computers - Software - Large at 10.61% (9.61% in September 2008), followed by Trading at 8.81% (7.37%), Computers - Software - Medium / Small at 7.31% (6.10%) and Diversified - Large at 7.15% (9.45%) among others in October 2008.Sector wise, the scheme had reduced exposure Diamond Cutting / Jewellery to 6.16% (by 4.52%), Engineering to 5.21% (by 4.48%), Textiles - Products to 6.79% (by 2.45%) among others in October 2008.The scheme underperformed the category average over all the time periods. It has underperformed the Sensex over all the time periods.

Over three-month period ended as 24 November 2008, the scheme posted negative returns of 14.92% underperforming the category average that posted negative returns of 5.52%. It underperformed the Sensex that posted negative returns of 5.01% during the same period.

Since inception, the scheme posted negative returns of 77.76% underperforming the negative category average of 50.69%.

Capital Appreciation By Unveiled 6 Months FMP - Nov 25, 2008

DSP Black Rock Mutual Fund has launched DSP Black Rock Fixed Maturity Plan 6 Months -Series 7 on 24 November 2008. The NFO will close on 25 November 2008. The new offer price of units is Rs 10 per unit. It is a close-ended income schemes with maturity profile of 6 months from the date of allotment. 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 scheme will display a maturity profile that is generally in line with the term of the scheme.

The scheme will invest entire corpus in debt instruments and money market instruments. It may invest up to a maximum of 100% of the scheme's net assets in fixed income derivatives. Debt securities may include securitised debt up to 100% of net assets. Debt instruments may include fixed income derivatives only for hedging and portfolio balancing up to 100% of scheme's net assets. The scheme has two plans i.e. regular and institutional plan. Both plans will provide growth and dividend reinvest option. The scheme will not charge an entry load for the scheme due to its close-ended structure. However, it will charge an exit load of 0.75%, if the investment is redeemed before the maturity date.

Life Insurance MF Company Is Planning To Invest - Nov 25, 2008

Max New York Life Insurance Company (MNYL) is planning to invest Rs 1,818 crore in the country by March 2012, of which Rs 350 crore will be infused by the end of this fiscal. The fresh investments will raise its paid-up capital to Rs 3,600 crore from Rs 1,782 crore at present. The company plans to add 9,800 employees and 2,88,500 agent advisors during the period, raising its employee strength to 25,000 and agency base to 350,000.Additionally, MNYL plans to unveil its small ticket insurance product Max Vijay on a pan-India basis in the next six to nine months.

The policy is currently sold in 15,000 retail outlets in Uttar Pradesh and Andhra Pradesh. The innovative policy designed for the underserved urban and rural population may also be replicated by the foreign stakeholder New York Life for emerging markets such as China and Mexico, he said. Max New York Life is a 74:26 joint venture between Max India and New York Life. For its health insurance business, Max India plans to invest an initial capital of Rs 100 crore along with its partner the UK-based BUPA Finance Plc in the joint venture company Max Bupa, Ms Kirti Madhok Sud, Director, Corporate Support, Max India, said, adding the investments could increase to Rs 400-450 crore over the next three years.

Kotak Specified Transaction Period For The Scheme - Nov 24, 2008

Kotak Mutual Fund has declared dividend under dividend option Kotak Quarterly Interval Plan series 7 an interval debt fund. The record date for the dividend is 27 November 2008. The quantum of dividend will be 100% of distributable surplus on the record date for the face value Rs 10 per unit. The NAV of the scheme was at Rs 10.2650 per unit as on 20 November 2008.

The specified transaction period for the scheme is 27 November 2008. Kotak Quarterly Interval Plan Series 7 aims to generate returns through investments in debt and money market instruments to significantly reduce the interest rate risk.

Indiabulls Was Working In Marketing Logistic Mf - Nov 24, 2008

Reliance Mutual Fund has appointed Ankur Parekh as Portfolio Manager- Investment -Debt of Reliance Capital Asset Management with effect from 7 November 2008. He holds degree of M.B.A. Prior to Reliance Capital Asset Management, he was a Fund Manager, managing funds of debt schemes in DBS Chola Asset Management Company (AMC) from March 2008 to October 2008. He was with SBI DFHI dealing debt instruments during December 2005 to March 2008.

From October 2002 to November 2005, Ankur Parekh was a dealer in debt instruments in LKP SEC. From July 2000 to October 2002, he dealt with equity and debt in Indiabulls. From September 1999 to June 2000, he was working in marketing- logistic in ELBEE UPS.

Icici Maturity MF Plan-Series 38-One Year Plan - Nov 24, 2008

ICICI Prudential Mutual Fund has declared dividend under dividend options of ICICI Prudential Fixed Maturity Plan-Series 38-One Year Plan D and of ICICI Prudential Interval Fund IV -Quarterly Interval Plan A. 27 November 2008 is the record date for the dividend. The Fund house has decided to offer 100% of distributable surplus as the quantum of dividend as on the record date.

The NAV of ICICI Prudential Fixed Maturity Plan-Series 38-One Year Plan D under retail option and institutional plan was at Rs 10.1024 per unit and Rs 10.1095, respectively, as on 20 November 2008. The NAV for ICICI Prudential Interval Fund IV- Quarterly Interval Plan A was Rs 10.1975 per unit as on 20 November 2008.

Private Insurer New Raised Life Insurance Company - Nov 24, 2008

Private insurer Max New York Life Insurance Company has raised its paid-up capital by Rs 350 crore to Rs 1,782 crore in the current financial year to fund its expansion plan. Max New York will also hire three lakh agents and over 25,000 employees over the next few months. It is part of Analjit Singh's Max group.Though there is a slowdown, the insurance firm has recruited about 7,000 in this fiscal, taking its total staff strength to 15,000 in India. At present, the private life insurance player employs 61,500 agents.

The company plans to increase its total paid-up capital to Rs 3,600 crore by 2011-12.The insurer, which expects to improve its premium income four-to-five fold by 2011, has sold about 5.77 lakh policies in the first six months of the current fiscal.

Ankur Parekh Designated As Manager In Appointed - Nov 22, 2008

Reliance Mutual Fund has appointed Ankur Parekh as Portfolio Manager- Investment -Debt of Reliance Capital Asset Management with effect from 7 November 2008.Prior to Reliance Capital Asset Management, he was a Fund Manager, managing funds of debt schemes in DBS Chola Asset Management Company (AMC) from March 2008 to October 2008. He was with SBI DFHI dealing debt instruments during December 2005 to March 2008. From October 2002 to November 2005, Ankur Parekh was a dealer in debt instruments in LKP SEC.

From July 2000 to October 2002, he dealt with equity and debt in Indiabulls. From September 1999 to June 2000, he was working in marketing- logistic in ELBEE UPS. He holds degree of M.B.A.

Escorts MF Declares Dividend For Its Two Schemes - Nov 22, 2008

Escorts Mutual Fund has announced dividend for Escorts Income Plan and Escorts Opportunities Fund. The record date for the distribution of dividend is set as 22 November 2008.The amount of dividend is set at Rs 0.040 and Rs 0.080 under Escorts Income Plan and Escorts Opportunities Fund, respectively.NAV for Escorts Income Plan under dividend option was at Rs 10.7145; NAV under growth option was Rs 25.8103 and that of bonus option at Rs 13.5918 as on 20 November 2008.

NAV for Escorts Opportunities Fund under dividend option was Rs 10.3033 and that of under growth option was Rs 23.5230 as on 20 November 2008.

JM Financial MF Declares Dividend JM QIF-6 - Nov 22, 2008

JM Financial Mutual Fund has declared dividend in dividend option of regular and institutional plan under JM Interval Fund-Quarterly Plan 6 (JM QIF-6). The fund house has decided to distribute realized appreciation in the NAV of the plan/option till record date of 25 November 2008 as dividend.JM Interval Fund-Quarterly Plan 6 regular plan dividend option recorded a NAV of Rs 10.1535 per unit and institutional plan. dividend option recorded a NAV of Rs 10.1591 per unit as on 19 November 2008.

JM Interval Fund-Quarterly Plan 6 is a debt oriented interval fund with an investment objective to generate predictable returns over a predetermined period by investing in a portfolio of fixed income securities normally maturing along with the time profile of the respective plans.

Taurus MF Commences Liquid Plus Fund Amount - Nov 22, 2008

Taurus Mutual Fund has revealed Taurus Liquid Plus Fund on 24 November 2008. The scheme is available for fresh subscription until 26 November 2008. The new issue price is at Rs 10 per unit during new fund offer period. The scheme reopens on 8 December 2008.Taurus Liquid Plus Fund is an open- ended debt scheme, with an investment objective of generating returns with higher liquidity and low volatility from a portfolio of money market and debt instruments. However, there is no assurance that the investment objective of the scheme will be realized.

The Liquid Plus Fund will have retail, institutional and super institutional plan with growth and dividend option. Under dividend option, only dividend reinvestment facility is available.Investors under retail plan should apply for minimum amount of Rs 5000 and in multiple of Rs 1000, under institutional plan they should invest minimum of Rs 10 lakh and in multiple of Re. 1 for fresh purchases. While, super institutional plan may seek of Rs 50 lakh and in multiple of Re. 1 as minimum application amount.

NAV Of Scheme Under Institutional Super Plan - Nov 21, 2008

Reliance Mutual Fund has announced 25 November 2008 as the record date for declaration of dividend on the face value of Rs 10 per unit of Reliance Fixed Horizon Fund -X -Series- 14. The fund will offer dividend for retail, institutional and super institutional plans of the scheme. The fund house has decided to distribute 100% of surplus available as on the record date.The NAV of scheme under retail and institutional plan was at Rs 10.2101 per unit and super institutional plan was at Rs 10.2172 as on 18 November 2008.

Reliance Fixed Horizon Fund -X -Series- 14 is a close ended income scheme with an objective to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income /debt securities normally maturing in line with the time profile of the plan with objective of limiting interest rate volatility.

ING Dynamic Duration Fund The Unit Holders To Exit - Nov 21, 2008

ING Mutual Fund has announced changes in asset allocation pattern in ING Dynamic Duration Fund which was launched on 12 January 2004, effective from 20 December 2008. The scheme will invest its entire corpus in money market securities /instruments and debt securities. The investment in debt securities includes securitized debt upto 100% of the net assets. Since the above is a change in the fundamental attributes of ING Dynamic Duration Fund, the unit holders under the said scheme are given an option to exit without any exit load/ CDSC for all redemption of units made form 20 November 2008 to 19 December 2008.

Sahara MF Files Offer Document With Sebi - Nov 21, 2008

Sahara Mutual Fund has filed offer document with Securities and Exchange Board of India (Sebi) to launch Sahara Star Value Fund an open-ended growth scheme. The face value of the new issue will be Rs 10 per unit. The investment objective would be to provide long term capital appreciation by investing mainly in equity / equity related instruments of select companies based on value parameters.The scheme will offer growth & dividend options. Dividend option will further offer reinvestment facility.

The minimum investment amount for all categories of investors would be Rs 5000 and in multiples of Re 1 thereafter for both dividend as well as the growth option. The default option would be dividend re investment option. The scheme seeks to collect a minimum corpus of Rs 1 lakh during NFO period. The scheme will invest 65%-100% in equity and equity related instruments. It invests upto 35% in debt and money market instruments including securitized debt. Investment in securitized debt will not normally exceed 50% of the debt component of the scheme.

Fortis MF Introduces New Investment Plan - Nov 21, 2008

Fortis Mutual Fund has approved the introduction of new investment option as Institutional plan under Fortis Flexible Short Term Plan -Series B, a debt oriented fund. The institutional plan shall open and close for subscription on 24 November 2008. The existing plan under the scheme shall be named as regular plan. Minimum application amount under institutional plan will be Rs 1 crore and in multiples of Re. 1 thereafter. The scheme will not charge any entry. However, there will be 4% of an exit load all times except the interval periods. The minimum application amount under institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter.

Uti Wealth Builder Fund Series Sold Itself - Nov 20, 2008

UTI MF under UTI Wealth Builder Fund--Series II is expected to mop more over Rs 300 crore, which closed for subscription under new fund offer. Rs 50 crore was collected in the first week itself. According to UTI Asset Management Chief Marketing officer Joydeep Bhattacharya ""UTI Wealth Builder Fund--Series II was sold three times more than our expectations. In the first week itself, we collected Rs 50 crore.

We expect more than Rs 300 crore investment," On investing the part of fund to exchange traded gold funds, Bhattacharya said gold is the best hedge against inflation. In the last year, gold has given 16 per cent return, while the stock market has been down by 55 per cent.

DSP Blackrock MF Has Reinvest Generally - Nov 20, 2008

DSP BlackRock Mutual Fund has declared dividend in the dividend reinvestment option of the regular and institutional plan of DSP BlackRock FMP-3M-Series 12, a close ended income scheme. The record date for dividend is 24 November 2008.The fund house has decided to distribute Rs 0.233264 per unit as dividend to individuals and Rs 0.217104 per unit as dividend to others under regular plan.

The fund house will distribute Rs 0.235454 per unit as dividend to individuals and Rs 0.219142 per unit as dividend to others under institutional plan on the face value of Rs 10 per unit.The scheme recorded a NAV of Rs 10.2430 per unit under regular plan and Rs 10.2453 per unit under institutional plan as on 19 November 2008.DSP BlackRock FMP-3M-Series 12 is a close ended income scheme with an investment objective to seek capital appreciation by investing in a portfolio of debt and money market securities. It is envisaged that the portfolio will display a maturity profile that is generally in line with the term of the scheme.

During A Volatile Session On MF Sold Shares - Nov 20, 2008

During a volatile session on 18th Nov'08 mutual funds (MFs) sold shares worth a net Rs 45 crore, which is much lower than Rs 375.70 crore on 17 Nov 2008. Further, MFs' net outflow of Rs 45 crore was a result of gross purchases Rs 324.80 crore and gross sales Rs 369.80 crore on 18 Nov 2008. The BSE Sensex slipped 353.81 points, or 3.81%, to 8,937.20 on that day. MFs were net sellers of shares worth Rs 1352.40 crore in this month, till 18 Nov 2008.

Edelweiss MF Announces More Changes - Nov 20, 2008

Edelweiss Mutual Fund has announced some changes in minimum application amount as well as load structure under Edelweiss Monthly Interval Fund-Series 1. It has decided to collect minimum application amount of Rs 10,000 and thereafter in multiples of Re 1 in retail plan of the scheme and Rs 10 lacs and in multiples of Re 1 thereafter in institutional plan. Minimum additional application amount is Rs 1000 and in multiples of Re 1 thereafter.

The scheme will not charge any entry load but will charge 2% exit load of the applicable NAV in both retail and institutional plan if redeemed during interval period. Edelweiss Monthly Interval Fund-Series 1 is an interval income scheme with an investment objective to generate regular income through investments in debt and money market instruments.

Money Market Unveils Instruments And Government - Nov 19, 2008

HDFC Mutual Fund house has launched HDFC Fixed Maturity Plan 90D November 2008 (3) under HDFC Fixed Maturity Plans-Series X. The new offer period (NFO) will open for subscription on 20 November and close for subscription on 24 November 2008. The face value of new issue is Rs 10 per unit. It is a close ended income scheme. The investment objective of the plan under the scheme is to generate regular income through investments in debt, money market instruments and government securities.

HDFC Fixed Maturity Plan 90 Days November 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. 25 lakh and in multiples of Re. 1 thereafter. The scheme will invest 60%-100% in debt and money market instruments, with low to medium risk profile. The scheme will also invest upto 40% in government securities with low risk profile. Investment in securitized debt will not exceed 75% of the net assets of the respective plans.

SBI Debt Fund Series Of Various Before Funds - Nov 19, 2008

SBI Mutual Fund has revised the exit load structure for different plans under the SBI Debt Fund Series, close-ended debt fund. The changes in load structure will be applicable for all funds to be launched on or after 19 November 2008. Accordingly, the SBI Debt Fund Series -30 Days - 5, 6, 7 will ask load of 0.50% and SBI Debt Fund Series -90 Days - 32,33 may charge 2.00% load if exit done before maturity. SBI Debt Fund Series-13 Months Fund-9, 10 and SBI Debt Fund Series-18 Months Fund- 4,5,6 will charge 4.00% as an exit load for redemptions done before maturity.

Benchmark Mutual Fund Has Launched Beneficial - Nov 19, 2008

Benchmark Mutual Fund house has launched Benchmark S&P CNX 500 Fund. It is an open ended index scheme. The new offer period (NFO) will be open for subscription from 17 November to 15 December. The face value of new issue is Rs 10 per unit.The investment objective of the scheme is to generate capital appreciation through Equity investments by investing in securities .

Which are constituents of S&P CNX 500 Index in the same proportion as in the index. The scheme offers two options viz. growth and dividend option. Dividend option further offers dividend payout and dividend reinvestment facility.

The minimum application amount will be Rs 10,000 and in multiples of Re. 1 thereafter. And the minimum amount for the subsequent purchase will be Rs 1000 and in multiples of Re. 1 thereafter. The scheme looks for collection of a minimum target amount of Rs 1 crore during the NFO period. The scheme will invest 90%-100% in securities constituting S&P CNX 500, derivative on the securities constituting S&P CNX 500 with medium to high risk profile.

It invests upto 10% in money market instruments, G-Secs, Bonds Debentures and cash at call with low to medium risk profile. The scheme would invest in derivatives instrument when it is unable to buy any stocks which it is required to invest as per its investment objective or whenever it is beneficial to take exposure in derivatives instead of the equity security.

Max New York Life To Hire 44,000 This Fiscal - Nov 19, 2008

New Delhi: Max New York Life Insurance, country's fourth largest private sector insurer plans hiring around 14,000 employees and 30,000 agents in the current fiscal. The company is thinking to hire 44,000 at a time when many global companies are slashing jobs to cut costs due to the global recession.Another private sector insurer MetLife India had on Monday announced hiring about 2,000 managers as well as 30,000 advisors and double its network by March.

The decision to hire more people comes at a time when many financial sector giants like Citigroup and American Express have announced extensive plans to reduce their workforce.The company expects an overall premium growth of 65 per cent in the year 2008-09. In the last fiscal, it collected premium of Rs 2,714 crore and this year it is expected to rise to more than Rs 3,500 crore.

Currently, Max New York Life Insurance has 30 lakh policyholders. Max New York Life Insurance, which is a joint venture between Max India Ltd and New York Life, has a market share of eight per cent among private life insurers in India. At present, it has around 500 branches and planning to increase it to 1,600 by 2011.

Fixed Income Interval Fund Monthly Plan Respectively - Nov 18, 2008

UTI Mutual Fund has declared dividend under dividend option for both retail and institutional plan of UTI Fixed Income Interval Fund – Monthly Interval Plan I, a debt oriented interval scheme.The fund house has decided to distribute 100% distributable surplus as dividend on record date of 24 November on face value of Rs 10. The scheme recorded NAV of Rs 10.0655 per unit and Rs 10.0654 per unit for retail and institutional plan respectively as on 14 November 2008.

UTI Fixed Income Interval Fund – Monthly Interval Plan I is a debt oriented interval scheme with an investment objective to generate regular income by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan.

Securities With Low Risk Profile In Assets Plans - Nov 18, 2008

HDFC Mutual Fund house has launched HDFC Fixed Maturity Plan 90D November 2008 (3) under HDFC Fixed Maturity Plans-Series X. The new offer period (NFO) will be open for subscription on 20 November and close for subscription on 24 November 2008. The face value of new issue is Rs 10 per unit.It is a close ended income scheme.

The investment objective of the plan under the scheme is to generate regular income through investments in debt, money market instruments and government securities.

HDFC Fixed Maturity Plan 90 Days November 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. 25 lakh and in multiples of Re. 1 thereafter.

The scheme will invest 60%-100% in debt and money market instruments, with low to medium risk profile. The scheme will also invest upto 40% in government securities with low risk profile. Investment in securitised debt will not exceed 75% of the net assets of the respective plans.

The scheme will not levy entry load charged due to its close-ended structure. An exit load of 1.00% is payable if units are redeemed/switched-out before Maturity / final redemption date. No exit load is payable on maturity / final redemption date of the plan.

The benchmark index for the scheme would be Crisil Liquid Fund Index.Bharat Pareek will handle the investments under the scheme.

SBI Mf Series-18 Months Redemptions Various - Nov 18, 2008

SBI Mutual Fund has revised the exit load structure for various plans under the SBI Debt Fund Series, close-ended debt fund. The changes in load structure will be applicable for all funds mentioned below to be launched on or after 19 November 2008.Accordingly, the SBI Debt Fund Series –30 Days – 5, 6, 7 will ask load of 0.50% and SBI Debt Fund Series –90 Days – 32,33 may charge 2.00% load if exit done before maturity.

SBI Debt Fund Series-13 Months Fund-9, 10 and SBI Debt Fund Series-18 Months Fund- 4,5,6 will charge 4.00% as an exit load for redemptions done before maturity.All other returns and conditions of the scheme remain unchanged.

Market Facing Selling Pressure From Mutual Funds - Nov 18, 2008

During the downfall of stock market mutual funds (MFs) sold shares worth a net Rs 304.80 crore on 14 Nov 2008, as compared to their outflow of Rs 59.70 crore on 12 Nov 2008. MFs' net outflow of Rs 304.80 crore on 14 Nov 2008 was a result of gross purchases Rs 315.50 crore and gross sales Rs 620.30 crore. The BSE Sensex lost 150.91 points or nearly 1.58% at 9,385.42 on that day. Further, MFs were net sellers of shares worth Rs 931.70 crore in this month, till 14 Nov 2008.

Revises Load DBS Structure For Various - Nov 17, 2008

DBS Chola Mutual Fund has revised the load structure of following schemes for investments made on or after 17 November 2008.DBS Chola Growth Fund, DBS Chola Midcap Fund, DBS Chola Opportunities Fund, DBS Chola Contra Fund, DBS Chola Multi Cap Fund, DBS Chola Global Advantage Fund, DBS Chola Hedged Equity Fund:

The revised entry load under above mentioned funds is 2.25% for an investment up to Rs 2 crore and nil for investment more than Rs 2 crore.There will be exit load of 1% if units are redeemed within 6 months and 0.50% if units are redeemed after 6 months but within 1 year.

DBS Chola Tax Saver Fund: It is proposed to charge an entry load of 2.25% for investments up to Rs. 2 crore and nil for investment more than Rs 2 crore. Exit load is remain unchanged.

DBS Chola Interval Income Fund - Monthly Plan A: The exit load has been revised to 1.5% if units are redeemed on any other day other than during the specified transaction period. No entry load will be levied.

Arbitrage Fund Waits For Sebi Approval - Nov 17, 2008

Edelweiss Mutual Fund has filed offer document with Securities and Exchange Board of India (SEBI) to launch Edelweiss Arbitrage Fund having two plans, Protector Plan and Booster Plan. It is an open-ended equity scheme. The face value of the new issue will be Rs 10 per unit.The investment objective of the scheme is to provide capital appreciation by generating. low volatility returns using arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities.

Available within the derivative segment and by investing the balance in debt and money market instruments. The investment objective of the scheme is to provide capital appreciation by using arbitrage opportunities, equity derivative strategies, pure equity investments, and the balance in debt and money market instruments.

Sanjay Singal Appointed As CMO Chief Of Mf - Nov 17, 2008

Birla Sun life Mutual fund has appointed Sanjay Singal as chief marketing officer (CMO). He will be a member of the senior management team of the mutual fund and also a member of the Aditya Birla Financial Services Group (ABFSG). A management graduate from IIM - Bangalore, Mr. Singal has more than 13 years of rich experience in sales and marketing. Prior to joining Birla Sun life Mutual fund, he was with GE Money as chief marketing officer and head of e-business and pricing. Earlier Mr. Singal was also associated with Unilever and Pizza Hut (Yum Restaurants Ltd).

Sundaram BNP Paribas MF Floats On 90 Days FTP - Nov 17, 2008

Sundaram BNP Paribas Mutual Fund launched Sundaram BNP Paribus Fixed Term Plan -90 days Series 9 on 17 November 2008. The new issue will be closed for subscription on 18 November 2008. The new fund offer unit will be at Rs 10 per unit.This scheme is a close-ended scheme with an investment aim of achieving 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 fund will invest up to 100% in money market instruments. The scheme will also invest up to 100% in short term and medium term debt instruments and securitized debt. The debt investment may include securitized debt up to 100% of the net assets.

ICICI MF Unveils FMP Series 47 - 3 Months Plan E - Nov 15, 2008

ICICI Prudential Mutual Fund has unveiled ICICI Prudential Fixed Maturity Plan Series 47 - Three Months Plan E and the initial offering for new subscription will remain open from 11 November to 18 November 2008. The new offer price of units is Rs 10 per unit.t is a close-ended debt fund, with an objective 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 fund offers two options viz. retail and institutional option. Cumulative and dividend sub-options will be available under both options. Retail option shall be the default option; cumulative sub option shall be the default sub-option under plan. The scheme will invest entire corpus in money market instruments, short-term and debt securities/debt instruments and securitised debt with low to medium risk profile.

Investment in securitised debt shall be up to 50% of the net assets and derivatives instruments to the extent of 50% of the net assets of the scheme. The minimum investment amount for retail plan is Rs 5000 and in multiples of Re 1 thereafter. Under institutional plan the minimum investment amount is Rs 1 crore and in multiples of Re 1 thereafter

UTI MF Collects Rs.83 Crore Through Its FTI Fund - Nov 15, 2008

UTI Mutual Fund has collected Rs 83 crore via UTI Fixed Term Income Fund- Series V-VIII during their initial offer period from 31 October to 6 November 2008. It is a close-ended income scheme with plan tenure of 13 months. The scheme will mature on 7 December 2009.

The scheme aims 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 retail, institutional and super institutional plan with growth and dividend options.

The fund will ask 3% as an exit load for redemption on or before 367 days from the date of allotment. No exit load will be levied if the investment is redeemed after 367 days from the date of allotment.The scheme will invest up to 5-100% in debt including securitised debt and 0-95% in money market instruments. The scheme may endow up to 100% in the securitised debt.

The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The fund manager for the scheme is Amandeep Chopra.

ING MF Declares Dividend For FMP - Nov 15, 2008

ING Mutual Fund has declared dividend under dividend option for retail and institutional plan of ING Quarterly Fixed Maturity Plan 92 – Series A. The record date for the dividend is 20 November 2008.

The quantum of dividend will be the entire appreciation in the NAV of the dividend option from date of allotment to 20 November 2008 will be declared as dividend for the face value of Rs 10 per unit. Dividend is subject to availability of distributable surplus.

The NAV of retail plan was at Rs 10.2482 per unit and under institutional plan was at 10.2494 per unit as on 12 November 2008.

Reliance MF Declares Dividend For Fixed Horizon Fund - Nov 15, 2008

Reliance Mutual Fund has announced 20 November 2008 as the record date for declaration of dividend on the face value of Rs 10 per unit of Reliance Fixed Horizon Fund -IV -Series- 4.

The fund will offer dividend for retail and institutional plans of scheme. The fund house has decided to distribute 100% of surplus available as on record date.

The NAV of scheme under retail plan was Rs 10.1260 per unit and institutional plan was Rs 10.1316 on 12 November 2008.

Reliance Fixed Horizon Fund -IV -Series- 4 is a close ended income scheme with an objective to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income /debt securities normally maturing in line with the time profile of the plan with objective of limiting interest rate volatility.

JM FMF Series XIV Monthly Under Regular Plan - Nov 14, 2008

JM Financial Mutual Fund has declared dividend under dividend option of JM Fixed Maturity Fund -Series XIV-Monthly Plan 1. The record date for the dividend is 17 November 2008. The fund house has decided to offer dividend for both regular and institutional plans of the scheme. The quantum of dividend will be the realized appreciation in the NAV of the plan/option till the record date.The NAV for the JM FMF - Series XIV-Monthly Plan 1 under regular plan is Rs 10.0874 per unit and under Institutional plan is Rs 10.0883 per unit as on 11 November 2008.

JM FMF- Series XIV-Monthly Plan 1, is a close-ended income scheme and was launched in October 2008 with an investment objective of generating regular returns through investments in fixed income securities normally maturing in line with the time profile of the monthly plan.

Taurus MF Collects Rs 40.1 Crore Through Its FMP - Nov 14, 2008

Taurus Mutual Fund raised about Rs 40.10 crore through Taurus Fixed Maturity Plan - 30 Days Series 2 during its new fund offer period from 27 -29 October 2008. Taurus Fixed Maturity Plan -30 Days-Series 2 is a close ended debt scheme, with an investment objective of generating income with minimum volatility through investments in a portfolio of debt (including securitised debt) and money market instruments.

Domestic Securitised Debt The Scheme Net Assets - Nov 14, 2008

Tata Mutual Fund has initiated Tata Fixed Horizon Fund Series 18-A on 12 November 2008. The New Fund Offer (NFO) period for subscription will close on 24 November 2008. The NFO face value of the new fund is Rs 10 per unit. The scheme is a close end debt scheme with term 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. The scheme may invest up to a maximum of 50% of the scheme's net assets in domestic securitised debt. The scheme net assets will have a maximum derivative net position of 50% of the net assets of the scheme. Each scheme has two plans regular plan and institutional plan and each plan has two options growth option and dividend option. Dividend option offers periodic dividend or dividend re-investment facility.

Fresh Applications Under The Above Schemes - Nov 14, 2008

ICICI Prudential Mutual Fund has approved revision in the exit load structure of the ICICI Prudential Flexible Income Plan and ICICI Prudential Floating Rate Plan, which will be ive from 14 November 2008. According to the revised load structure for all the fresh applications under the above mentioned schemes made on or after 14 November 2008, no exit load will be charged.

Canara Robeco Mutual Fund Has Introduced Dividend - Nov 13, 2008

Canara Robeco Mutual Fund has introduced dividend reinvestment option under Income Plan of Canara Robeco Income Fund, which is an open-ended debt scheme with effect from 11 November 2008. The objective of Income Fund is to generate income through investment in debt and money market securities of different maturity and issuers of different risk profiles. Canara Robeco Income Fund has three plans: Growth Plan, Income Plan and Bonus Plan. The investments under these plans are managed by Suman Prasad.

Canara Robeco Gilt Fund Introduces Exit Load - Nov 13, 2008

Canara Robeco Mutual Fund has announced the revision of exit load of the Canara Robeco Gilt Fund with effective from 1 December 2008 on a prospective basis. Accordingly, the fund will levy exit load of 1% if investors get redeemed/ switched out within six months from the date of allotment.

Existing exit load is nil which will continue till 1 December 2008. Gilt Fund does not ask an entry load. Canara Robeco Gilt Fund aims to achieve risk free return (except interest rate risk), while maintaining stability of the capital and liquidity launched in December 1999.

ICICI Pru MF Enables Microsip Facility - Nov 13, 2008

ICICI Prudential Mutual Fund has enabled a Micro Systematic Investment Plan (Micro SIP) facility for ICICI Prudential Liquid Plan - Growth option which will be effective from 12 November 2008.

MicroSIP facility will be available only for investment in ICICI Prudential Liquid Plan - Growth option. Minimum installment amounts under MicroSIP shall be Rs. 100 Only and in multiples of Rs. 10 thereafter.

Installments can be variable with a minimum of Rs. 100 per installment. MicroSIP dates shall be subject to agreement between the Authorized entities and the AMC.

Tata Mutual Fund Has Raised About Rs 106 Crore - Nov 13, 2008

Tata Mutual Fund has raised about Rs 106 crore through Tata Fixed Investment Plan -3-Plan A during its new fund offer period i.e. from 14 -23 October 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 scheme has two plans namely regular and institutional plan. Each plan has two options growth and dividend option. Dividend option has dividend payout and dividend re-investment facility. There will be periodic and monthly dividend options. The plan- A will invest entire corpus in debt and money market instruments and securitized debt. Benchmark Index is Crisil Liquid Fund Index.

Mutual Funds Pouring Money Into The Market - Nov 12, 2008

Different nutual fund houses have bought shares worth a net Rs 505.50 crore on 10 November 2008, as compared to their outflow of Rs 81.70 crore on 7 November 2008. MFs' net inflow of Rs 505.50 crore on 10 November 2008 was a result of gross purchases Rs 802.60 crore and gross sales Rs 297.10 crore. Besides, the BSE Sensex gained 571.87 points or 5.74% at 10,536.16 on that day. MFs were net sellers of shares worth Rs 345 crore in this month, till 10 November 2008.

Deutsche MF Collects Rs.23 Crore Through Its FTF-Series 61 - Nov 12, 2008

Deutsche Mutual Fund during its new fund offer period i.e. from 4 November to 6 November 2008 has collected Rs 23 crore via DWS Fixed Term Fund Series 61. The investment objective of the scheme is to generate regular income by investing in fixed income securities and money market instruments. This is a close - ended debt fund with the duration of 3 months.The investors will have the choice of two plans viz. regular plan and institutional plan and each plans offers growth and dividend option.

The dividend option offers sub option of dividend payout. The scheme will invest entire corpus in domestic debt instruments including government securities & medium money market instruments and securitized debt. The scheme charges an exit load of 2.00% if the investment is redeemed any time after the date of allotment but before maturity date. There will be no exit load charged on the redemption made on maturity date.

Tata Fixed Investment Plan Subscription Of Repurchase - Nov 12, 2008

Tata Mutual Fund introduces Tata Fixed Investment Plan -3-A on 11 November 2008. Subscription of New Fund Offer (NFO) will close on 12 November 2008 and will be reopened for repurchase before 1 December 2008. The face value of the new fund is Rs 10 per unit.The scheme is a close ended debt scheme with tenure of 3 months from the date of allotment. Further, the investment objective of the scheme will be to generate income and / or capital appreciation by investing in extensive range of debt and money market instruments, which are also considered to be one of the safest instruments.

The scheme has two plans namely regular and institutional plan and each plan has two investment options growth and dividend option. Dividend option has further two categories namely dividend payout and dividend re-investment facility. There will be periodic dividend options. The minimum investment amount under regular investment plan will be Rs. 10000 and in multiples of Re. 1 thereafter. The minimum investment amount under institutional plan will be of Rs. 1 lakh and in multiples of Re. 1 thereafter.

MF Introduces New Investment Option Multiples - Nov 12, 2008

ICICI Prudential mutual fund has approved the introduction of new investment option as Institutional option I under ICICI Prudential Index Fund with effect from 11 November 2008. It is an open-ended index linked growth scheme and the institutional plan I offers only growth option and the existing option is retail option under the scheme. The minimum application amount under institutional plan I will be Rs 1 lakh and thereafter in multiples of Re. 1.

Minimum additional subscription amount will be Rs. 500 and thereafter in multiples of Re. 1. Minimum Redemption Amount will be Rs. 500 and thereafter in multiples of Re. 1.

The Time Profile Of Plan With Limiting - Nov 11, 2008

Reliance Mutual Fund has declared dividend under dividend option of Reliance Interval Fund - Monthly Interval Fund - Series I for the retail as well as institutional plan. The record date for the dividend is set as 14 November 2008.The fund house has decided to distribute 100% of distributable surplus on the face value Rs 10 per unit as on the record date. The NAV for retail plan is Rs 10.0507 per and institutional plan is Rs 10.0482 per unit as on 6 November 2008.

Reliance Interval Fund - Monthly Interval Fund - Series I is a debt oriented interval scheme with the objective to generate return and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income / debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility.

Canara Robeco Fixed Plan Under FMP-Series 4 - Nov 11, 2008

Canara Robeco Mutual Fund launched Canara Robeco Fixed Maturity Plan-Series 4 (Quarterly Plan 4) on 7 November 2008. The issue will be closed for subscription on 10 November 2008. It is a close-ended debt scheme.The aim 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.

The minimum investment amount under retail plan will be Rs 5000 and in multiples of Re 1 thereafter and that of under institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter.

NAV For The Reliance Interval Fund Monthly Series - Nov 11, 2008

Reliance Mutual Fund has declared dividend under dividend option of Reliance Interval Fund - Monthly Interval Fund -Series I. The record date for the dividend is 14 November 2008.The Fund house has decided to offer dividend on the face value of Rs 10 per unit for both retail and institutional plans. The quantum of dividend will be 100% of distributable surplus as on the record date.

The NAV for the Reliance Interval Fund - Monthly Interval Fund -Series I under retail plan is Rs 10.0507 per unit and under Institutional plan is Rs 10.0482 per unit as on 6 November 2008.

Mutual Fund Has Declared In Interval Income Fund - Nov 11, 2008

Birla Sun Life Mutual Fund has declared dividend in dividend option of Birla Sun Life Interval Income Fund - Quarterly Plan - Series II for both retail and institutional plan. The record date for the dividend is decided as 13 November 2008.The fund house has decided to distribute 100% of distributable surplus as on the record date. The NAV for retail and institutional plan is Rs 10.2480 per unit as on 6 November 2008.

Applications For Subscriptions Received The Specified - Nov 10, 2008

Mirae Asset Mutual Fund has planned to change the exit load for all applications for subscriptions received during the Specified Transaction Period on 10th November 2008 for Mirae Asset Interval Fund - Quarterly Plan - Series I (MAIF-QP-S-I) and Mirae Asset Interval Fund - Quarterly Plan - Series II (MAIF-QP-S-II).The exit load for the fund will be 3.00% if the units are redeemed on any day other than during the specified transaction period.

No exit load will be levied if the units are redeemed during the specified transaction period. Earlier, it charged 0.30% of exit load for the redemption on any day other than during the specified transaction period. No exit load for the redemption during the specified transaction period.

New Fund Offer Of HDFC FMP 17M Fixed Maturity - Nov 10, 2008

HDFC Mutual Fund has announced NFO date. It has informed that the New Fund Offer (NFO) of HDFC FMP 17M November 2008 (1), fixed maturity plan under HDFC Fixed Maturity Plans-Series IX (close-ended income scheme) will open and close for subscription on 12 November and 26 November 2008 respectively.HDFC FMP 17M November 2008 (1) is a fixed maturity plan with an objective to generate regular income through investments in debt / money market instruments and government securities.

Subsequent Specified MF Has Remdemption Document - Nov 10, 2008

Birla Sun Life Mutual Fund has announced Subsequent Specified Remdemption Date of Birla Sun Life Fixed Maturity Plan-Annual Series 1. The date shall be 370 days from the end of Subsequent Specified Subscription Period as per the offer document.Birla Sun Life Fixed Maturity Plan-Annual Series 1 is an open ended income scheme and its main objective.

Is to generate regular income through investments in debt and money market instruments. The scheme may target to drive regular income through investments in portfolio of fixed income securities normally maturing with the time profile of the scheme.

The Scheme Will Not Levy Any Entry Load For Investment - Nov 10, 2008

UTI Mutual Fund has announced changes in load structure of UTI -Master Index Fund and UTI-Nifty Index Fund, which will be effective from 10 November 2008.Existing Load Structure: The scheme will not charge any entry load. For investment amount less than Rs 10 lakh, the scheme will charge 1.00% of exit load if the units are redeemed on or before 180 days. For investment amount more than or equal to Rs 10 lakh, the scheme charges 1.00% of exit load for the redemption of units on or before 7 days.

Revised Load Structure: The scheme will not levy any entry load. For investment amount less than Rs 1 crore, the scheme will charge 1.00% of exit load if the units are redeemed on or before 365 days. For investment amount more than or equal to Rs 1 crore, the scheme charges 1.00% of exit load for the redemption of units on or before 7 days.All other features of UTI-Master Index Fund and UTI-Nifty Index Fund will remain unchanged.

MIP II-Saving 5 Plan Fund House Has Decided - Nov 08, 2008

Birla Sun Life Mutual Fund has declared dividend in dividend option of Birla Sun Life MIP II-Saving 5 Plan. The fund house has decided to distribute 0.75% (Rs 0.075 per unit on the face value of Rs 10 per unit) as dividend on the record date of 12 November 2008.The scheme recorded a NAV of Rs 10.7297 per unit as on 6 November 2008.

Birla Sun Life MIP II-Saving 5 Plan is an open ended monthly income plan with a primary objective to generate regular income so as to make monthly payments or distribution to unitholders, and secondary objective being growth of capital.

Mirae Asset Revises Exit Load Structure Plan - Nov 08, 2008

Mirae Asset Mutual Fund has decided to change the exit load for all applications for subscriptions received during the Specified Transaction Period on 10th November 2008 for Mirae Asset Interval Fund – Quarterly Plan – Series I (MAIF-QP-S-I) and Mirae Asset Interval Fund – Quarterly Plan – Series II (MAIF-QP-S-II). The exit load for the fund will be 3.00% if the units are redeemed on any day other than during the specified transaction period.

No exit load will be levied if the units are redeemed during the specified transaction period. Earlier, it charged 0.30% of exit load for the redemption on any day other than during the specified transaction period. No exit load for the redemption during the specified transaction period.

MF Announces Subsequent Specified Redemption Date - Nov 08, 2008

Birla Sun Life Mutual Fund has announced that the Subsequent Specified Remdemption Date of Birla Sun Life Fixed Maturity Plan-Annual Series 1 shall be 370 days from the end of Subsequent Specified Subscription Period as per the offer document. Birla Sun Life Fixed Maturity Plan-Annual Series 1 is an open ended income scheme.

with the primary objective to generate regular income through investments in debt and money market instruments. The scheme would aim to drive regular income through investments in portfolio of fixed income securities normally maturing with the time profile of the scheme.

Generate Regular Income Through Investments - Nov 08, 2008

HDFC Mutual Fund house has commenced initial offering period of HDFC Fixed Maturity Plan 17 Months November 2008 (1) under HDFC Fixed Maturity Plans-Series IX. The new offer period (NFO) will be opened for subscription on 12 November and will close on 26 November 2008. The face value of new issue is Rs 10 per unit.HDFC FMP 17 Months November 2008 (1) is a close ended income scheme.

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

The fund seeks to collect Rs 1 crore as targeted amount during NFO period. The scheme will invest 60%-100% in debt and money market instruments, with low to medium risk profile. The scheme will also invest 0%-40% in government securities with low risk profile. Investment in securitised debt will not exceed 75% of the net assets of the respective plans. Under normal circumstances, the plans shall not have an exposure of more than 75% of its net assets in foreign debt securities subject to regulatory limits.

HDFC 17 months plan will not levy entry load charged due to its close-ended structure. In respect of each purchase / switch-in of units, an Exit Load of 4.00% is payable if units are redeemed/switched-out before Maturity / Final Redemption Date. No Exit Load is payable on Maturity / Final Redemption Date of the Plan. The benchmark Index for the scheme would be Crisil Short Term Bond Fund Index.

Systematic Investment Plan And Transfer Prudential - Nov 07, 2008

ICICI Prudential Mutual Fund has announced changes in load structure excluding Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) in ICICI Prudential Gilt Fund- Investment Plan, with effect from 7 November 2008.The scheme will charge an exit load of 0.75% of the applicable NAV for an investment of less than Rs 2 crore-if the amount, sought to be redeemed or switched out, is invested for a period of less than one year from the date of allotment.

The exit load is nil for investment of Rs 2 crore and above.ICICI Prudential Gilt Fund- Investment Plan is an open-ended short term gilt fund. The objective of the scheme is to generate regular returns through investments made in gilts.

Franklin Templeton MF Declares Dividend - Nov 07, 2008

Franklin Templeton Mutual Fund has declared dividend in Templeton Fixed Horizon Fund-Series X-Plan A (TFHF- Series X-Plan A). The fund house has decided to distribute 100% distributable surplus on face value of Rs 10 per unit as dividend on the record date of 12 November 2008. Templeton Fixed Horizon Fund-Series X-Plan A s a close ended income scheme with an objective 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.

Kotak FMP Debt Scheme With An Significantly - Nov 07, 2008

Kotak Mutual Fund has declared dividend in dividend option of both retail and institutional plans of Kotak FMP 12M Series 4, a closed ended debt scheme. The fund house has decided to distribute 100% distributable surplus as dividend on record date 10 November on face value of Rs 10. The scheme recorded a NAV of Rs 10.5240 per unit under retail plan and NAV of Rs 10.5492 per unit under institutional plan as on 3 November 2008.

Kotak FMP 12M Series 4 is a closed ended debt scheme with an investment objective to generate returns through investments in debt and money market instruments to reduce the interest rate risk significantly.

Fixed Income Interval Fund Monthly Plan Oriented - Nov 07, 2008

UTI Mutual Fund has declared dividend under dividend option in both retail and institutional plan of UTI Fixed Income Interval Fund - Monthly Interval Plan II, a debt oriented interval scheme. The fund house has decided to distribute 100% distributable surplus as dividend on 11 November on the face value of Rs 10. The scheme recorded a NAV of Rs 10.0645 per unit in retail plan and a NAV of Rs 10.0646 per unit in institutional plan as on 3 November 2008.

UTI Fixed Income Interval Fund - Monthly Interval Plan II is a debt oriented interval scheme with an investment objective to generate regular income by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan.

Drastic Fall In Its Asset Under Management Compared - Nov 06, 2008

Mutual fund industry has reported a drastic fall in its Asset Under Management (AUM) of 18.37% to Rs 4.31 lakh crore in October as compared to 5.29 lakh crore in September 2008. Sharp decline in assets of fund houses is led by fall in the stock market, huge redemptions in liquid schemes and lack of any fresh inflows. AUM of funds of funds (FoFs) was Rs 886.58 crore in October 2008. Due to the pressure from banks and corporates withdrawing money to meet their liquidity needs, the redemptions were high. In the case of most fund houses, the fall in AUM ranges from 15 to 25%. However, some have reported a more than 30% drop. All the 35 out of 37 fund houses, which reported their monthly AUMs have posted a fall in AUM.

The new entrant for the month is Religare AEGON AMC, which has filed offer document with Sebi and waiting for approval to unveil those funds. The top three funds recorded a falloff in AUM in October 2008 compared with the September 2008. Reliance Mutual fund continued to be in the first position with AUM of Rs 71093.71 crore but recorded the outflow of Rs 15400 crore in its AUM on October 2008 comparing to the month of September 2008, which witnessed highest outflow in this month. HDFC MF retains the second position, but it sheds by 12.54% in its AUM to Rs 45479.37 crore. ICICI Prudential was the next looser with outflow of Rs 10590 crore (21.28%) in AUM to Rs 39182.45 crore.

BSE Sensex Jumped Gross Purchases - Nov 06, 2008

Mutual funds (MFs) sold shares worth a net Rs 78.50 crore on 3rd November 2008, higher than Rs 42.90 crore on Friday, 31st October 2008. MFs' net outflow of Rs 78.50 crore on 3rd November 2008 was a result of gross purchases Rs 625.30 crore and gross sales Rs 703.80 crore. The BSE Sensex jumped 549.62 points or 5.62% to 10,337.68 on that day.

Deutsche Mutual Fund Has Launched New Fund Offer - Nov 06, 2008

Deutsche Mutual Fund has launched new fund offer period of DWS Fixed Term Fund Series 61 on 4 November 2008. The initial offering period will close for subscription on 6 November 2008. The offer of units is at face value of Rs 10 per unit. It is a close-ended debt fund with maturity of 3 months, with an investment aim of generating regular income by investing in fixed income securities / money market instruments usually maturing in line with the time profile of the Fund.The investors will have the choice of two plans viz.

regular plan and institutional plan. Each plans offers growth and dividend option. The dividend option offers sub option of dividend payout. The fund will invest 100% in domestic debt instruments including government securities & medium money market instruments and securitized debt including cash and cash equivalents. Investment in securitised debt would be up to a maximum of 100% of the net assets of the scheme. The scheme will invest in derivatives only for the purpose of hedging and portfolio balancing and the exposure to derivatives shall be restricted to 50% of the net assets of the scheme. The scheme will not invest in foreign securities and foreign securitised debt.

Fixed Maturity Plans Quarterly Close Income - Nov 06, 2008

IDFC Mutual Fund has launched IDFC Fixed Maturity Plans- Quarterly Series 46 (IDFC-FMP-QS46). It is a close ended income scheme. The new fund offer period (NFO) for subscription will be from 4 November 2008 to 5 November 2008. The face value of the new fund is Rs 10 per unit. The duration of the scheme is from the date of allotment to 4 February 2009. The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing normally in line with the duration of the scheme.

The scheme comprises of two options viz. dividend and growth options. The minimum investment amount under the scheme is Rs 5000 and in multiples of Re 1 thereafter. The minimum targeted amount to be raised is Rs 1 crore during NFO period. The fund will invest its entire corpus 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 scheme will not invest in derivatives, foreign securities and stock lending.

HDFC MF Offloads Rs 650cr Realty Paper - Nov 05, 2008

HDFC Mutual Fund, which is the second-largest asset management company (AMC) in India in assets, sold a sizeable portion of its real estate papers in some of its schemes to a firm, which is part of the HDFC group. The move was led by pressure from unit holders, who voiced worries over the AMC's significant exposure to the beleaguered sector, as well as the quality of some of the real estate papers. HDFC Mutual Fund whose initial public offer is mulled for next fiscal has sold real estate paper worth Rs 650 crore to the group entity, though it is not clear whether these securities were part of the fixed maturity plans (FMPs) or liquid schemes.

Reliance MF Withdraws SIP Facility In Gold ETF - Nov 05, 2008

Reliance Mutual Fund has decided to pull out the extra facility of Systematic Investment Plan (SIP) in Reliance Gold Exchange Traded Fund with immediate effect i.e. from 31 October 2008. Earlier, Reliance Gold ETF had introduced SIP facility with effect from 24 October 2008. Reliance Gold Exchange Traded Fund is an open ended gold ETF with investment objective of providing returns that closely correspond to returns provided by price of gold through investment in physical gold (and gold related securities as permitted by SEBI from time to time.). However the performance of the scheme may differ from that of the domestic prices of gold due to expenses and or other related factors.

Extended The Record Date Of Dividend Declaration - Nov 05, 2008

ICICI Prudential Mutual Fund has revised record date of dividend as extended the record date of dividend declaration under dividend options of ICICI Prudential Interval Fund - Half Yearly Interval Plan II and ICICI Prudential Interval Fund II- Quarterly Interval Plan B. Now the record date for the dividend will be 7 November 2008 instead of earlier date of November 2008. The fund house has decided to offer dividend for both above-mentioned schemes with retail option. The quantum of dividend will be 100% of distributable surplus as on the record date. The NAV for the ICICI Prudential Interval Fund - Half Yearly Interval Plan II under retail dividend option was Rs 10.4171 per unit and for ICICI Prudential Interval Fund II- Quarterly Interval Plan B was Rs 10.2230 per unit as on 29 October 2008.

Birla Sun Life MF Declares Dividend Under Interval Plan - Nov 05, 2008

Birla Sun Life Mutual Fund has declared dividend under the dividend option of Birla Sun Life Quarterly Interval Fund - Series 8, an interval income scheme. The record date for the dividend is 6th November 2008. The quantum of dividend will be 100% of distributable surplus as on the record date of the scheme. The NAV for the Birla Sun Life Quarterly Interval Fund - Series 8 was Rs 10.2425 per unit as on 29 October 2008. Birla Sun Life Quarterly Interval Fund - Series 8 was launched in February 2008. The Quarterly Interval Fund seeks to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of scheme

New Fund Offer Period For Subscription Value - Nov 04, 2008

IDFC Mutual Fund has launched IDFC Fixed Maturity Plans- Quarterly Series 46 (IDFC-FMP-QS46). It is a close ended income scheme. The new fund offer period (NFO) for subscription will be from 4 November 2008 to 5 November 2008. The face value of the new fund is Rs 10 per unit. The duration of the scheme is from the date of allotment to 4 February 2009.

The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing normally in line with the duration of the scheme.The scheme comprises of two options viz. dividend and growth options.The minimum investment amount under the scheme is Rs 5000 and in multiples of Re 1 thereafter. The minimum targeted amount to be raised is Rs 1 crore during NFO period.

The fund will invest its entire corpus 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 scheme will not invest in derivatives, foreign securities and stock lending.There will no entry load charged for the scheme due to its close-ended structure.

Repurchase facility will be offered on the 45th day from the date of allotment. Investors may submit their redemption request on any business day. The redemption will be processed on the stipulated repurchase date following their request and desired amounts/units will be redeemed at the applicable NAV on such date after charging applicable exit load.

The scheme charges an exit load of 1.00%, if the investment is repurchased or redeemed upto and including on December 22, 2008 and no charges for the redemption on maturity i.e. on 4 February 2009.Benchmark index of the scheme is Crisil Liquid Fund Index.Rajiv Anand will manage the scheme.

Witnessed Sharp Fall In AUM Asset Under Management - Nov 04, 2008

Mutual fund industry has reported the drastic fall of 18.37% in its Asset Under Management (AUM) to Rs 4.31 lakh crore in October compared with 5.29 lakh crore in September 2008. Plunge in the stock market, huge redemptions in liquid schemes and lack of any fresh inflows has led to the sharp decline in assets of fund houses. AUM of funds of funds (FoFs) was Rs 886.58 crore in October 2008. Due to the pressure from banks and corporates withdrawing money to meet their liquidity needs, the redemptions were high. Also the redemptions were seen since September as advance tax payments started.

In the case of most fund houses, the fall in AUM ranges from 15 to 25%. However, some have reported a more than 30% drop.All the 35 out of 37 fund houses, which reported their monthly AUMs have posted a fall in AUM. The new entrant for the month is Religare AEGON AMC, which has filed offer document with Sebi and waiting for approval to unveil those funds.

The top three funds recorded a falloff in AUM in October 2008 compared with the September 2008. Reliance Mutual fund continued to be in the first position with AUM of Rs 71093.71 crore but recorded the outflow of Rs 15400 crore in its AUM on October 2008 comparing to the month of September 2008, which witnessed highest outflow in this month. HDFC MF retains the second position, but it sheds by 12.54% in its AUM to Rs 45479.37 crore. ICICI Prudential was the next looser with outflow of Rs 10590 crore (21.28%) in AUM to Rs 39182.45 crore.

The other top mutual funds, in term of AUM, UTI has recorded the deep fall of 14.21% to Rs 38283.63 crore. Birla MF also recorded the fall of 9.02% in its AUM (Rs 34187.29 crore) and SBI MF sheds by 15.45% to Rs 24727 crore.Reliance MF recorded the highest outflow of Rs 15400 crore (17.80%) in its AUM and the ICICI Prudential followed it with outflow of Rs 10590 crore (21.28%) in October the month of September 2008.

In the category of Fund houses maintaining AUM more than Rs 10000 crore, Franklin Templeton MF has recorded the highest outflow of Rs 6352.15 crore to Rs 22003.86 crore in the month of October over the September 2008. Kotak Mahindra with Rs 3896 crore (20.71%) fall, Tata MF with Rs 3777.88 crore fall followed FT.

The funds with relatively smaller corpus having AUM less than Rs 1000 crore has registered the sharp fall in AUM, Mirae Asset MF registered 56.52% fall in its AUM (Rs 1004.18 crore), AIG Global Investments Group declined by 44.18% to Rs 1688.92 crore in its AUM and Baroda MF registered an outflow of 44.04% to Rs 42.87 crore of AUM in the month of September compared with the month of August 2008.

Realising the fund crunch being faced by MFs, the Reserve Bank of India has provided liquidity support to MFs through banks. The Indian Banks Association has opened a special counter to assist mutual funds facing redemption pressure.

Deutsche Mutual Fund Has Launched New Fund - Nov 04, 2008

Deutsche Mutual Fund has launched new fund offer period of DWS Fixed Term Fund Series 61 on 4 November 2008. The initial offering period will close for subscription on 6 November 2008. The offer of units is at face value of Rs 10 per unit.It is a close-ended debt fund with maturity of 3 months, with an investment aim of generating regular income by investing in fixed income securities / money market instruments usually maturing in line with the time profile of the Fund.

The investors will have the choice of two plans viz. regular plan and institutional plan. Each plans offers growth and dividend option. The dividend option offers sub option of dividend payout.The fund will invest 100% in domestic debt instruments including government securities & medium money market instruments and securitized debt including cash and cash equivalents. Investment in securitised debt would be up to a maximum of 100% of the net assets of the scheme.

The scheme will invest in derivatives only for the purpose of hedging and portfolio balancing and the exposure to derivatives shall be restricted to 50% of the net assets of the scheme. The scheme will not invest in foreign securities and foreign securitised debt.There will no entry load charged for the scheme due to its close-ended structure.

The scheme charges an exit load of 2% if the investment is redeemed any time before maturity date. There will be no exit load charged on the redemption made on maturity date.The minimum investment amount under regular plan will be Rs.5000 and in multiples of Re 1 thereafter. The minimum investment amount under institutional plan is Rs. 50 lakh and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked over CRISIL Composite Bond Fund Index. Compromise: The art of dividing a cake in such a way that everybody believes he got the biggest piece.Mr. Dwijendra Srivastava will manage the scheme.

India Fund Underperforms The Over All Periods - Nov 04, 2008

HSBC Asset Management (India) Private Limited set up in May 2002 as a trust by HSBC Securities and Capital Markets (India) Pvt. Ltd. The fund manages assets worth Rs 15532.81 crore as on September 2008.HSBC Advantage India Fund (G) an open-ended equity scheme launched in December 2005. The objective of the scheme is to invest in equity and equity related securities primarily in sectors, areas and themes that play an important role or benefit from India’s progress reform process and economic development.The minimum investment amount is Rs 10,000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs. 8.37 as on 31 October 2008.

The total net assets of the scheme decreased by Rs.78.79 crore to Rs.495.10 crore in September 2008.HSBC Advantage India Fund (G) took fresh exposure to three stocks in September 2008. The scheme has purchased 77528 units (2.30%) of State Bank of India, 83711 units (1.34%) of Reliance Infrastructure, 4.27 lakh units (0.54%) of Allahabad Bank in September 2008.

The scheme completely exited Jindal Steel & Power by selling 46155 units (1.53%), HDFC Bank by selling 54976 lakh units (1.22%) and Tata Power Company by selling 60900 units (1.12%) in September 2008.Sector-wise, the scheme took fresh exposure to Banks - Public Sector at 2.84% in September 2008.Sector-wise, the scheme completely exited from Steel - Sponge Iron at 1.53% in September 2008.

The scheme had highest exposure to Infosys Technologies with 2.02 lakh units (5.70% of portfolio size) followed by Bharat Heavy Electricals with 1.77 lakh units (5.69%) and Bharti Airtel with 3.57 lakh units (5.67%) among others in September 2008.

It reduced its exposure to Jaiprakash Associates by selling 1.49 lakh units to 10.43 lakh units (by 1.07%), PSL by selling 1.24 lakh units to 3.56 lakh units (1.04%) and Cairn India by selling 1.27 lakh units to 5.21 lakh units (0.58%) among others in September 2008.

Sector-wise, the scheme had highest exposure to Construction at 10.58% (from 11.85% in August 2008), followed by Telecommunications - Service Provider at 8.96% (7.21%) and Computers - Software – Large at 6.81% (6.72%) among others in September 2008.

Sector wise, the scheme had reduced Steel – Large to 3.24% (by 1.31%), Construction to 10.58% (by 1.27%) and Engineering - Turnkey Services to 5.34% (by 0.53%) in September 2008.The scheme underperformed the category average over all time periods. It has underperformed the Sensex over all time periods.

Over three-month period ended as on 31 October 2008, the scheme posted negative returns of 34.79% underperforming the category average, which posted negative returns of 30.23%. It underperformed the Sensex that has posted negative returns of 31.82% during the same period.Since inception, the scheme posted negative returns of 16.31% underperforming the category average of 75.27%.

Tata Fixed Income Portfolio Fund Scheme - Nov 03, 2008

Tata Mutual Fund has declared dividend under half yearly dividend option of Tata Fixed Income Portfolio Fund Scheme C3 - regular investment plan. The record date for the dividend is 06 November 2008. The quantum of dividend will be upto 100% of distributable surplus generated between 27 May 2008 to 6 November 2008 subject to availability of distributable surplus.

will be distributed as dividend on the record date. The face value for the scheme is Rs 10 per unit. The NAV of Tata Fixed Income Portfolio Fund Scheme C3 - regular investment plan was at Rs 10.3946 per unit as on 29 October 2008.

Minimum Amount For Application Wholesale Plan Of HDFC - Nov 03, 2008

HDFC Mutual Fund has revised exit load and minimum amount for application for wholesale plan of HDFC Fixed Maturity Plans-Series IX- 370D November 2008 (1) for all applications received during new fund offer period from 3 November to 6 November 2008. HDFC Fixed Maturity Plans- IX-370 Days November 2008 (1) is a close-ended income scheme. In respect of each purchase/switch-in of units, 3.00% will be an exit load if units are redeemed/switched-out before maturity date.

No exit load is levied on redemptions on maturity. Before revision, exit load was 1.50% in respect of each purchase/switch-in of units, if units are redeemed/switched-out before maturity date. No exit load is levied on redemptions on maturity.

JM Financial Mutual Fund Has Under Dividend Option - Nov 03, 2008

JM Financial Mutual Fund has declared dividend under dividend option of JM Fixed Maturity Fund -Series XII- Quarterly Plan 1. The record date for the dividend is 5 November 2008. The Fund house has decided to offer dividend for both plans viz, regular and institutional plans of above-mentioned scheme. The quantum of dividend will be the realized appreciation in the NAV of the plan/option till the record date. The NAV for the JM Fixed Maturity Fund -Series XII- Quarterly Plan 1 under regular plan is Rs 10.1523 and under Institutional plan is Rs 10.1559 as on 29 October 2008.

Indian Association IBA The Apex Body Of India Facilitation - Nov 03, 2008

Mumbai: Banks have worked out a system to give "hassle-free" credit to mutual funds facing redemption pressure. Indian Banks Association (IBA), the apex body of banks in India, has opened a facilitation counter to enable mutual funds to borrow from banks under the Reserve Bank of India's liquidity support scheme for MFs. The IBA will assist mutual funds to locate banks which have headroom under the RBI scheme, as each bank has a lending limit, said Dr K. Ramakrishnan, Chief Executive of IBA. The IBA will collect data on the position of its members on a daily basis so that it will know which bank has funds to lend under the scheme.

Banks will also be considerate on interest rates to be charged. Though it is for the individual banks to decide on the interest rates, Mr M.D. Mallya, Chairman, Bank of Baroda, who is also an IBA managing committee member, said banks should be able to lend at 11-12 per cent interest. The announcement of the IBA initiative, ahead of the scheduled meeting of bankers with the Finance Minister on Nov 4, is seen as a proactive move by banks to support MFs. The RBI had also enhanced the liquidity support on Saturday as part of a host of measures to inject more funds into the system. The IBA move follows representations made by the Association of Mutual Funds in India (AMFI) alleging that its members were finding it difficult to access funds.

UTI Fixed Term Income Fund Series V To VIII - Nov 1, 2008

UTI Mutual Fund has opened initial offer period of UTI Fixed Term Income Fund Series V-VIII on 31 October 2008 till 6 November 2008. The new offer price of units is Rs 10 per unit. The date of allotment will be 6 November 2008.

The 13 months plan will open for redemption on 10 November 2008, which will mature on 7 December 2009. It is a close-ended income scheme with an investment objective 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 retail, institutional and super institutional plan with growth and dividend options. The minimum application amount under retail option for dividend sub option is Rs 10,000 and for growth sub option is Rs 5,000 and in multiples of Re 1 thereafter. The minimum application amount under institutional option is Rs 50 lakh and in multiples of Re 1 thereafter.

Under super institutional plan, the minimum investment amount is Rs 1 crore and in multiples of Re 1 thereafter. The scheme will invest up to 5-100% in debt including securitised debt and 0-95% in money market instruments. The scheme may endow up to 100% in the securitised debt. The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index.

As the scheme is of close-ended nature, it is not applicable to entry load. The fund will ask 3% as an exit load for redemption on or before 367 days from the date of allotment. No exit load will be levied if the investment is redeemed after 367 days from the date of allotment.

Bharti AXA MF Declares Dividend Under FMP - Nov 1, 2008

Bharti AXA Mutual Fund has declared dividend under dividend option of Bharti AXA Fixed Maturity Plan - Series 3M-I, a close ended income shceme. The face value of the scheme is Rs 10 per unit. The record date for the dividend is 04 November 2008.

The Fund house has decided to offer dividend for institutional and retail sub-plan of the scheme. The quantum of dividend will be 100% of distributable surplus as on the record date subject to applicable taxes, duties and statutory levies. The NAV for the Bharti AXA Fixed Maturity Plan - Series 3M-I under institutional sub plan was at Rs 10.2186 per unit and under retail sub plan was at Rs 10.2165 per unit as on 22 October 2008.

HDFC MF Launches 370 Days Plan - Nov 1, 2008

HDFC Mutual Fund house has commenced initial offering period of HDFC Fixed Maturity Plan 370 Days November 2008 (1) under HDFC Fixed Maturity Plans-Series IX. The new offer period (NFO) will be open for subscription on 3 November and close for subscription on 6 November 2008. The face value of new issue is Rs 10 per unit.

It is a close ended income scheme. The investment objective of the fund is to generate regular income through investments in debt, money market instruments and government securities. The scheme 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.

The scheme will invest 60%-100% in debt and money market instruments, with low to medium risk profile. The scheme will also invest upto 40% in government securities with low risk profile. Investment in securitised debt will not exceed 75% of the net assets of the respective plans. HDFC 370 Days plan will not levy entry load charged due to its close-ended structure. It may charge 1.50% an exit load if the units are redeemed or switched out before maturity.

UTI MF Declares Dividend Under Fixed Income Interval Fund - Nov 1, 2008

UTI Mutual Fund has announced dividend under dividend option of UTI Fixed Income Interval Fund Series II- Quarterly Interval Plan-Series V. The record date for the declaration of dividend is 6 November 2008. The quantum of dividend will be 100% of distributable surplus available on the record date on face value of Rs. 10 per unit. The NAV for the scheme for both retail and institutional plan was at Rs. 10.2327 per unit as on 27 October 2008.

The fund will not ask exit load for redemptions during specified transaction period. Redemptions other than specified transaction period will attract 1.00% exit load. The specified transaction date will be 6 November 2008. UTI Fixed Income Interval Fund- Series II-Quarterly Interval Plan- Series V is a debt oriented interval scheme with income-oriented portfolio consisting G-sec and other fixed income and debt securities. The investment objective of the scheme is generating regular income by investment in a portfolio of fixed income securities normally maturing in line with the time profile of the plan.