ICICI MF Announces Changes In Portfolio - Jan 30, 2009

ICICI Mutual Fund has announced changes in the portfolio of ICICI Prudential Liquid Plan as well as the ICICI Prudential Sweep Plan. In accordance with Sebi circular date 19 January 2009, the investment pattern will be changed to the following:

The Schemes shall make investments in / purchase debt and money market securities with maturity of upto 182 days only, with effect from February 1, 2009.

On the other hand, with effect from May 1, 2009, the Schemes shall make investments in / purchase debt and money market securities with maturity of upto 91 days only.

Tata Mutual Fund Has Declared Dividend - Jan 30, 2009

Tata Mutual Fund has declared dividend under dividend option of Tata Floating Rate Fund - Long Term. The record date for the dividend is February 3, 2009. The quantum of dividend is upto 100% of the returns generated between November 4, 2008 to February 3, 2009, subject to the availability of the distributable surplus available on the record date. The NAV of the scheme as on January 27, 2009 was at Rs 10.5097 per unit.

ICICI Prudential MF Is Plans To Launch ICICI Prudential Dividend Yield Fund - Jan 30, 2009

ICICI Prudential MF is planning to launch ICICI Prudential Dividend Yield Fund, which is an open-ended equity fund. The Scheme will have two options- retail option and the institutional option I. The retail option will have growth and dividend sub-options with dividend payout and dividend reinvestment facilities available under dividend sub option. While the Institutional option I will have growth sub-option only.

The scheme will invest 65%-100% in the equity & equity related securities, it invests upto 35% in other equity and equity related securities with medium to high risk profile. Equity investment includes the derivatives to the extent of 75% of the Net Assets as permitted vide SEBI and in line with this, investment in ADR/GDR up to 50% of allocation to Equity & Equity related securities, being maximum permitted under SEBI Regulations.

Besides this, the scheme will also invest upto 35% in debt and money market instruments including securitised debt of upto 50% of allocation to debt instrument

ICICI Prudential MF Announces Change In Entry Load - Jan 29, 2009

ICICI Prudential Mutual fund has announced the changes in the entry load structure of ICICI Prudential Growth Plan and these changes will be effective from January 27, 2009. Hereafter, there will be not be any entry load for fresh purchase / additional purchases/ systematic investment plan/ systematic transfer plans/switch-ins made into the scheme.

Reliance MF Has Announced Changes In Key Personnel - Jan 29, 2009

Reliance Mutual Fund has announced some changes in key personnel. Muneesh Sud, Head -Legal & Compliance Officer ceases to be the compliance officer of Reliance mutual fund. However he continues to be the Head - Legal of Reliance Capital Asset Management. On the other hand, Suresh T. Viswanathan, has been appointed as Head - Compliance of Reliance Capital Asset Management & designated as the compliance officer of Reliance Mutual Fund. The changes will be effective with effect from January 27, 2009.

MF Were Net Seller - Jan 29, 2009

Mutual funds (MFs) on January 27, 2009 purchased shares worth a net Rs 27.30 crore as compared to an outflow of Rs 205.70 crore on January 23, 2009. The net inflow of MF stood at Rs 27.30 crore on January 27, 2009 and this was due to gross purchases Rs 526.50 crore and gross sales Rs 499.20 crore. MFs in this month, till 27 January 2009 were net seller of shares worth Rs 2,404.40 crore.

UTI Mutual Fund Has Announced Dividend - Jan 28, 2009

UTI Mutual Fund has announced dividend under dividend option of UTI Fixed Maturity Plan - Quarterly Series (QFMP-10-08/ II). The record date for the declaration of dividend is 03 February 2009.

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 retail plan was at Rs 10.1680 per unit and institutional plan was at Rs 10.1681 per unit as on 23 January 2009.

UTI Fixed Maturity Plan is a close ended umbrella income scheme with investment objective to generate regular income through investments in debt/money market instruments and government securities with suitable maturity.

ICICI Prudential Mutual Fund Has Declared Dividend - Jan 27, 2009

ICICI Prudential Mutual Fund has declared dividend under dividend option of ICICI Prudential Interval Fund IV- Quarterly Interval Plan D. The record date for the same is January 29, 2009. The fund house has decided to distribute 100% distributable surplus as dividend on the record date. The fund offers dividend for retail plan. The NAV under retail plan as on January 22, 2009 was at Rs 10.0812 per unit.

ICICI Prudential Interval Fund IV- Quarterly Interval Plan D is a debt oriented interval scheme with an objective to generate returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with time profile of the scheme. The Fund does not charge an entry load. On the other hand, there will be no exit load for the redemptions done during specified transaction period while 2% is applicable exit load for the redemptions at any time other than specified transaction period.

Escorts Mutual Fund Has Announced Dividend - Jan 27, 2009

Escorts Mutual Fund has announced dividend for Escorts Income Plan as well as Escorts Opportunities Fund. The record date for the dividend is January 30, 2009. The amount of dividend under Escorts Income Plan and Escorts Opportunities Fund is set at Rs 0.040 and Rs 0.080, respectively.

NAV as on January 22, 2009 for Escorts Income Plan under dividend option was at Rs 11.1491 and under growth option was Rs 27.0559 and that of bonus option at Rs 14.2465.

NAV as on January 22, 2009 for Escorts Opportunities Fund under dividend option was Rs 10.2729 and that of under growth option was Rs 23.9474.

ICICI MF Revised Exit Load - Jan 27, 2009

ICICI Prudential Mutual Fund has approved the revision in the exit load structure under ICICI Prudential Income Opportunities Fund and ICICI Prudential Growth Plan with effect from January 27, 2009.

Under retail plan, the scheme will levy 1% exit load for an investment of less than Rs 1 crore if the amount, sought to be redeemed or switched out, is invested upto 12 months from the date of allotment. While the exit load will be nil if the amount to be redeemed or switched out, is invested for more than 12 months from the date of allotment. On the other hand, for the investment Rs 1 crore and above, the scheme will not levy any exit load. No exit load will be charged for the institutional option of the scheme.

Under retail plan, the scheme will levy 1.00% exit load for an investment of less than Rs 5 crore if the amount, sought to be redeemed or switched out, is invested upto 12 months from the date of allotment. While no exit load will be charged if the amount, sought to be redeemed or switched out, is invested for a period more than 12 months from the date of allotment. For the investment above Rs 5 crore, the scheme will not levy any exit load.

MFs Were Net Seller Of Shares - Jan 23, 2009

Mutual funds (MFs) sold shares worth a net Rs 253.70 crore on January 21, 2009, higher than Rs 121.90 crore on January 20, 2009. The net outflow of MF was Rs 253.70 crore on January 21, 2009 was a result of gross purchases Rs 251 crore and gross sales Rs 504.70 crore. On the other hand, the MFs were net seller of shares worth Rs 2,088.50 crore in this month, till January 21, 2009.

ICICI Prudential Fixed Maturity Plan-Series 42 - Jan 23, 2009

ICICI Prudential Mutual Fund has declared dividend in the dividend option of ICICI Prudential Fixed Maturity Plan-Series 42- Thirteen Months Plan B (IPFMP-42-13MB). The record date for the same is January 27, 2009. The fund house has decided to distribute 100% distributable surplus as dividend on record date. The scheme as on January 20, 2009 recorded an NAV of Rs 10.0675 per unit under institutional option. IPFMP-42-13MB is a close ended debt scheme with an objective to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing inline with the time profile of the plan.

Benchmark S&P CNX 500 Fund - Jan 23, 2009

Benchmark S&P CNX 500 Fund, the "Total Stock Market Index Fund", which recently concluded an NFO on December 16, 2008 was re-opened for continuous subscription and redemption on January 14, 2009. The schemes as on January 21, 2009 recorded NAV of Rs 9.37 per unit, which was lower than the face value of new issue Rs 10 per unit.

Baroda Pioneer MF Appoints Head Of Fixed Income - Jan 22, 2009

Baroda Pioneer Mutual Fund appointed Alok Sahoo as Head of Fixed Income and Abhay Nagar as Vice-President & Head of Sales with effect from January 20, 2009.

Alok Sahoo will be responsible for leading the investment team on the fixed income side, developing and executing the firm's fixed income strategy. He has over 10 years of experience, joins from HSBC Mutual Fund where he was a Fund Manager - Fixed Income. Apart from this, he was with UTI Mutual Fund as Fund Manager - Fixed Income. Alok is a management graduate in Finance from Xavier Institute of Management, Bhubaneswar.

Rajan Krishnan, CEO, Baroda Pioneer AMC, said, we are delighted to have Alok Sahoo and Abhay Nagar on board. We are very positive about significantly building our business here and plan to grow our asset management business. On the top of this, I am confident that both Alok and Abhay would bring the desired depth & experience and play an instrumental part in the organization's growth plans.

Lotus India Mutual Fund Has Announced The Dividend - Jan 22, 2009

Lotus India Mutual Fund has announced the dividend under dividend option of Lotus India Quarterly Interval Fund- Plan J. The record date for the divided is January 26, 2009. However, the quantum of dividend will be Rs 0.19338923 per unit for Regular option while Rs 0.19690120 per units for Institutional Option. The NAV for the scheme for both retail and institutional plan on January 19, 2009 was at Rs 10.1934 and Rs 10.1969 per unit, respectively as. Lotus India Quarterly Interval Fund- Plan J is a debt oriented interval scheme with an aim to generate income by investing in a portfolio of debt as well as the money market instruments.

ICICI Prudential MF Plans To Launch ICICI Prudential Global Basics Fund - Jan 22, 2009

ICICI Prudential MF plans to launch ICICI Prudential Global Basics Fund, which is an open-ended diversified growth scheme.

The Scheme will have two options- retail option as well as the institutional option I. The retail option will have growth and dividend sub-options with dividend payout along with the dividend reinvestment facilities available under dividend sub option. On the other hand, the Institutional option I will have growth sub-option only.

Regarding investments, the scheme will invest 65%-100% in the Equity and equity related securities that comprising of foreign securities from 65% to 100% of the net assets of the scheme, an overseas mutual fund schemes from 65% to 100% of the net assets of the scheme and in Indian securities upto 35% of the net assets of the scheme. Apart from this, it may invest upto 35% in the debt and money market instruments.

Mutual Funds Were Net Seller Of Shares - Jan 21, 2009

Mutual funds (MFs) on January 19, 2009 purchased shares worth a net Rs 111.60 crore lower than Rs 285 crore on January 16, 2009. The net inflow of MF's stood at Rs 111.60 crore on 19 January 2009 was a result of gross purchases Rs 237.60 crore and gross sales Rs 126 crore. However, the MFs in this month, till 19 January 2009 were net seller of shares worth Rs 1,712.70 crore.

Kotak Mutual Fund Changes In Load Structure - Jan 21, 2009

Kotak Mutual Fund has announced the changes in load structure of Kotak Floater Long Term Scheme, which will be effective from January 23, 2009. Hereafter, the scheme will not charge entry load nor exit load. However, the new load structure will be applicable only on a prospective basis to units purchased on after the January 23, 2009.

Kotak Floater Long Term Scheme is an open ended debt scheme aims to reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities as well as the money market instruments and using appropriate derivatives.

ICICI Prudential MF Extended Closing Date - Jan 21, 2009

ICICI Prudential Mutual Fund has extended the date of closing of the New Fund Offer (NFO) period of ICICI Fixed Maturity Plan- Series 47 - 15 Months Plan A till January 27, 2009 instead of January 20, 2009. The NFO was opened on January 14, 2009 for subscription.

ICICI Fixed Maturity Plan- Series 47 - 15 Months Plan A is a close ended debt fund with an 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.

Kotak Mutual Fund Has Announced Changes In Load Structure - Jan 20, 2009

Kotak Mutual Fund has announced changes in load structure of Kotak Floater Long Term Scheme. The changes will be effective from 23 January 2009.

Hereafter, the scheme will not charge entry load nor exit load. The new load structure will be applicable only on a prospective basis to units purchased on after the 23 January 2009.

Kotak Floater Long Term Scheme is an open ended debt scheme, which aims to reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities, money market instruments and using appropriate derivatives.

Mutual Funds In Buying Mode - Jan 20, 2009

On 16 January 2009, mutual funds (MFs) purchased shares worth a net Rs 285 crore, as against an outflow of Rs 237.50 crore on 15 January 2009. MFs' net inflow of Rs 285 crore was a result of gross purchases Rs 610.70 crore and gross sales Rs 325.70 crore. The BSE Sensex gained 276.85 points or 3.06% to 9,323.59 on that day. MFs were net seller of shares worth Rs 1,824.30 crore in this month, till 16 January 2009.

Fortis Mutual Fund Has Closed Fortis Interval Fund - Jan 19, 2009

Fortis Mutual Fund has closed Fortis Interval Fund - Quarterly Plan K (including plans/options thereunder) with effect from January 16, 2009. The fund house ceased to carry any business activities in respect of the scheme. Along with this, it has also ceased to issue units in the plan and has also ceased to create or cancel units in the plan.

Fortis Interval Fund - Quarterly Plan K, which was launched in December 2007 with an objective to seek to generate steady returns through investments made in a basket of fixed income securities, with a provision to offer liquidity at periodic interval.

Reliance MF Declares Dividend - Jan 19, 2009

Reliance Mutual Fund has announced the record date for declaration of dividend on the face value of Rs 10 per unit of Reliance Fixed Horizon Fund -XI-Series 1. The record date for the same is January 22, 2009. The fund will offer dividend for retail as well as the institutional and super institutional plans of scheme. The fund house has decided to distribute 100% of surplus available as on record date.

The NAV of scheme as on January 15, 2009, under retail plan was at Rs 10.2391 per unit institutional plan was recorded at Rs 10.2437 per unit and for super institutional plan was recorded at Rs 10.2484 per unit. Reliance Fixed Horizon Fund -XI-Series 1 is a close ended income scheme with an investment objective to generate regular returns as well as the 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.

ICICI Pru MF Revises Minimum Application Amount - Jan 19, 2009

ICICI Prudential Mutual Fund has announced the revision of minimum application amount under institutional option of ICICI Prudential Income Plan as well as the ICICI Prudential Short Term Plan, with effect from January 22, 2009. According to the revision, the minimum application amount for all fresh purchases / switches under institutional option of the above mentioned schemes will be Rs 10 lakh and in multiples of Re 1 thereafter.

ICICI Prudential Income Plan is an open-ended debt fund with an objective to generate income through investments in debt securities. On the other hand, ICICI Prudential Short Term Plan is an open-ended income scheme with an objective to generate income through investments in debt securities.

Bharti AXA MF Launches Regular Return Fund - Jan 17, 2009

Bharti AXA Mutual Fund has announced initial offer period of Bharti AXA Regular Return Fund, which is an open ended income scheme. The fund opens for new issue on 28 January 2009 and remains open till 24 February 2009. The NFO price for the fund is Rs 10 per unit. The scheme will re-open on 16 March 2009. The Scheme seeks to generate regular income through investments in fixed income securities and also to generate long term capital appreciation by investing a portion in equity and equity related instruments.

The scheme will offer two plans viz. eco and regular plan with growth & dividend options. Dividend option will further offer dividend payout and reinvestment facility. Dividend reinvestment option will have with monthly, quarterly and annual frequency of dividend re-investment. Dividend pay-out option for regular income will be having monthly, quarterly and annual frequency. Eco plan is available for purchase transactions of up to Rs 2 lakh only. Where the value of any purchase transaction is greater than Rs 2 lakh, then such investments can be placed only in regular plan. Both plans will have common portfolio. The minimum investment amount for both eco and regular plan is Rs 10,000 and in multiples of Re 1 thereafter. Additional investments in an existing folio can be made for Rs 1000. The Mutual Fund seeks to raise a minimum subscription amount of Rs. 1 crore during its New Fund Offer period.

UTI MF Declares Dividend - Jan 17, 2009

UTI Mutual Fund has announced dividend under dividend option of UTI Fixed Income Interval Fund-Monthly Interval Plan I. 22 January 2009, is the record date for the declaration of dividend. 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. 10.0499 and Rs 10.0513 per unit, respectively as on 14 January 2009.

The fund will not ask exit load for redemptions during specified transaction period. Redemptions other than specified transaction period will attract 0.50% exit load. The specified transaction date will be 22 January 2009. UTI Fixed Income Interval Fund- Monthly Interval Plan I 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.

Mutual Funds Step Up Selling - Jan 17, 2009

Mutual funds (MFs) sold shares worth a net Rs 237.50 crore on 15 January 2009, advanced than Rs 155.10 crore on 14 January 2009. MFs' net outflow of Rs 237.50 crore on 15 January 2009 was a result of gross purchases Rs 307.70 crore and gross sales Rs 545.20 crore. The BSE Sensex lost 323.75 points or 3.45% at 9,046.74 on that day. MFs were net seller of shares worth Rs 2,118.70 crore in this month, till 15 January 2009.

Reliance Infrastructure Fund Plans To Launch A New Scheme - Jan 16, 2009

Reliance Infrastructure Fund plans to launch a new scheme called Reliance Infrastructure Fund- an open-ended equity scheme.

The Scheme will offer two plans- retail and institutional option and both plans will offer- growth plan with growth option and bonus option and dividend plan with dividend payout option and dividend reinvestment option. The scheme may invest upto 65%-100% in equities and equity related securities including the derivatives. At least 65% of investment would be made in equity/equity related securities of companies engaged in infrastructure sectors and infrastructure related sectors. Apart from this, the scheme will invest upto 35% in debt and money market securities including investments in securitized debt. Investment in securitized debt should be upto 30%.

Birla Sun Life Mutual Fund Declared Dividend - Jan 16, 2009

Birla Sun Life Mutual Fund has declared dividend in the dividend option under Birla Sun Life Quarterly Interval Fund -Series 6. The record date for the same is January 19, 2009. The fund house has decided to distribute 100% distributable surplus as dividend on the record date on the face value of Rs 10 per unit.

The scheme as on January 13, 2009 recorded NAV of Rs 10.2667 per unit. Birla Sun Life Quarterly Interval Fund Series 6, which was launched in January 2008, is an interval income scheme with an investment objective to generate regular income through investments in debt as well as money market instruments.

Canara Robeco MF Changes Exit Load - Jan 16, 2009

Canara Robeco Mutual Fund has announced changes in exit load structure of Canara Robeco Gilt Fund with effect from January 16, 2009. For investments of less than Rs 10 crore, the fund house has revised the exit load to 1.00% for exit within 6 months from the date of allotment while there will be no exit load for investment of Rs 10 crore and above. However, earlier, the scheme levied 1.00% for exit within six months from the date of allotment.

Canara Robeco Gilt Fund, which was launched in December1999, is a gilt fund that aims to provide risk free returns (except interest rates risk) and long-term capital appreciation by investing only in government securities.

UTI MF Declares Dividend For Fixed Income Interval Fund - Jan 15, 2009

UTI Mutual Fund has announced dividend under dividend option of UTI Fixed Income Interval Fund- Series II Quarterly Interval Plan-IV. The record date for the same is January 20, 2009.

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 as on January 12, 2009 was at Rs. 10.2226 per unit. The fund will not ask exit load for redemptions during specified transaction period. However on the other hand, redemptions other than specified transaction period will attract exit load of 1.00%. The specified transaction date will be January 20, 2009.

UTI Fixed Income Interval Fund- Series II Quarterly Interval Plan-IV is a debt oriented interval scheme. The 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.

ICICI Prudential Mutual Fund Has Filed Papers - Jan 15, 2009

ICICI Prudential Mutual Fund has filed papers with Securities and Exchange Board of India (SEBI) for ICICI Prudential Recovery Fund, which is an open-ended equity scheme. The units of the scheme will be available at Rs 10 per unit.

Details of the scheme:

The scheme will have a regular option and Systematic Investment Option (SIP). Apart from this, the scheme will have minimum application amount of Rs 5,000 and in multiples of Re 1 thereafter and additional amount Rs 1,000 via SIP facility. Along with this, the scheme will offer for redemption/switch-out of units at daily intervals at NAV based prices. The scheme offers growth option and dividend option. On the top of this, the scheme will charge an entry load of 2.25% while an exit load of 1% if redeemed within 12 months of investment.

The scheme aims at investing 70% to 100% in equity and equity related securities while the rest 0% to 30% in debt instruments.

HDFC Mutual Fund Announced Dividend - Jan 15, 2009

HDFC Mutual Fund has announced January 19, 2009 as the record date for declaration of dividend under dividend option of HDFC Fixed Maturity Plan -90D October 2008 (2), on face value of Rs 10 per unit. The Fund house has decided to offer dividend under retail plan and wholesale plan. The fund house has decided to distribute 100% of surplus available as on record date. The NAV under retail plan as on January 12, 2009 was Rs. 10.2567 per unit and Rs 10.2587 per unit for wholesale plan. HDFC Fixed Maturity Plan -90D October 2008 (2), which was launched in October 2008 is a close-ended income scheme. The objective of the scheme is to seek to generate regular income through investments in debt/ money market instruments and government securities.

HSBC Mutual Fund Has Decided To Discontinue The Dividend - Jan 17, 2009

HSBC Mutual Fund has decided to discontinue the daily dividend of HSBC Floating Rate-Long Term Plan with effect from January 14, 2009.

HSBC Floating Rate-Long Term Plan, which was launched in November 2004 is an open-ended income scheme. The objective of the scheme is to generate reasonable return with commensurate risk from a portfolio that comprised of floating as well as the fixed rate debt instruments swapped for floating rate returns.

BlackRock Government Securities Fund - Jan 13, 2009

DSP BlackRock Mutual Fund has announced the revision of exit load of DSP BlackRock Government Securities Fund - Plan A and the changes are effective on a prospective basis for all the investments made on or after January 15, 2009.

However, as per revision, 1% will be the exit load for application amount less than Rs 50 lakh and exits within 6 months from the date of allotment, while on the other hand, no exit load will be applicable for redemption after 6 months. In line with this, no exit load will be charged for investment amount greater than or equal to Rs 50 lakh.

Presently, it does not charge exit load.

DSP BlackRock Announced Exit Load - Jan 13, 2009

DSP BlackRock Mutual Fund has announced the revision of the exit load of DSP BlackRock Bond Fund with effect from January 15, 2009.

However, as per the revision, 1% will be the exit load for application amount less than Rs 50 lakh and exits within 12 months from the date of allotment. While on the other hand, no exit load will be applicable for redemption after 12 months. In line with this, no exit load will be charged for investment amount greater than or equal to Rs 50 lakh.

Presently, it charges 0.50% for investment less than Rs 10 lakh if redeemed/switched-out within 6 months from the date of investment and along with this no exit load for redemption done on or after 6 months. However, for investment amount more than or equal to Rs 10 lakh there is no exit load.

MF's Were Net Seller Of Shares - Jan 13, 2009

The Mutual funds (MFs) on January 9, 2009, sold shares worth a net Rs 349.50 crore as compared to Rs 1011.20 crore on January 6, 2009.

However, the MFs' net outflow of Rs 349.50 crore on 9 January 2009 was on account of gross purchases Rs 540.10 crore and gross sales Rs 889.60 crore. The MFs in this month, till 9 January 2009 were net seller of shares worth Rs 1107.10 crore.

Birla Sun Life Mutual Fund Has Revised Load Structure - Jan 12, 2009

Birla Sun Life Mutual Fund has revised load structure in Birla Sun Life Short Term Fund with effect from January 12, 2009. It is an open ended short term income scheme.

The revised structure:

Entry load: No change

Exit load: An exit load of 0.25% of applicable NAV For units redeemed/switched out within 7 days from the date of allotment-.

However on the other hand, the existing structure:

Entry load: Nil

Exit load: : An exit load of 0.25% is payable, for purchase/switch-in of units, less than or equal to Rs 100 crore in value, if units are redeemed / switched-out within 21 days from the date of allotment. However, an exit load of 0.25% is payable for purchase/switch-in of units, greater than Rs 100 crore in value, if units are redeemed / switched-out within 15 days from the date of allotment

Canara Robeco Mutual Fund Decide To Distribute Dividend - Jan 12, 2009

Canara Robeco Mutual Fund has announced January 13, 2009 as the record date for declaration of dividend under dividend option of Canara Robeco Fixed Maturity Plan-Series 4 - Quarterly Plan-2.

The fund house has decided to distribute 100% of distributable surplus as on record date for both the retail and institutional plans. The NAV of the Canara Robeco Fixed Maturity Plan-Series 4 -Quarterly Plan- 2 as on January 7, 2009 was at Rs 10.0178 and Rs 10.0187 under retail and institutional plan respectively.

Canara Robeco Fixed Maturity Plan-Series 4 is a close-ended debt scheme with an investment objective of generating income by investing in a portfolio of debt as well as money market instruments normally maturing in line with the duration of the scheme.

HSBC Mutual Fund Declare Dividend - Jan 12, 2009

HSBC Mutual Fund has declared dividend under dividend option of HSBC Fixed Term Series 68. The record date for the dividend will be January 14, 2009.

The fund house has decided to distribute 100% of surplus available as on record date. The dividend will be declared under both Regular and Institutional. The NAV of HFTS 55 under regular & institutional plan as on January 7, 2009 was at Rs 10.0554 and Rs 10.0589, respectively.

HFTS 68 is a close-ended income scheme that seeks to generate reasonable returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of plan.

Benchmark Mutual Fund Declare Record Date - Jan 10, 2009

Benchmark Mutual Fund has announced January 16, 2009 as the record date for declaration of dividend under dividend option of Benchmark Exchange Traded Scheme (Bank BeEs). The fund house has declared Rs 5 per unit as dividend on the record date.

However, the objective of Banking Index Benchmark Exchange Traded Scheme (Bank BeEs) is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the CNX Bank Index.

Canara Robeco Mutual Fund Decide To Restrict Sale Of Unit - Jan 10, 2009

As the asset under management (AUM) of the Canara Robeco Income Fund crossed Rs 350 crore, Canara Robeco Mutual Fund has decided to restrict the sale of units. The fund has acquired more than Rs. 350 crore of AUM (corpus of nearly Rs 363.56 crore at end of 31 December 2008). So in order to protect the interest of the continuing investors, the Trustees have decided to limit the maximum amount of application to Rs. 1 crore and above. But, the fund will continue to accept application amount for less than Rs 1 crore. So, as and when the AUM fall below Rs 350 crore, the fund shall re-open the sale of units for application of Rs 1 crore and above.

Canara Robeco Income Fund is an income fund aims to generate income and capital generation through a low risk strategy by investing in debt securities as well as money market instruments. As on 7 January 2009, the NAV of the fund stood at Rs 18.04.

Kotak Fund Took Fresh Stocks - Jan 10, 2009

Kotak Opportunities Fund (G) in December 2008 took fresh exposure to two stocks. The scheme in December 2008 has purchased 4.40 lakh units (0.91%) of IRB Infrastructure Developers along with 1.00 lakh units (0.87%) of Reliance Capital.

However, in December 2008, the scheme completely exited from Infosys Technologies by selling 1.44 lakh units (3.12%) followed by Tata Chemicals by selling 3.29 lakh units (0.85%), Aban Offshore by selling 25000 units (0.30%). In line with this, the scheme took no fresh exposure to any sector in December 2008.

In sector-wise, the scheme exits completely from Fertilizers by selling 0.85% in December 2008. Sector-wise, the scheme had highest exposure to Banks - Private Sector at 9.83% (6.01% in November 2008) along with public sector banks - at 6.81% (5.47%), Telecommunications - Service Provider at 6.39% (7.10%) as well as the Refineries at 5.61% (5.69%) among others in December 2008. On the other hand, in December 2008, sector wise, the scheme had reduced exposure to Computers - Software - Large to 3.50% (by 3.37%) followed by Finance - Housing to 1.28% (by 1.57%), Oil Drilling / Allied Services to 3.74% (by 1.28%) and Automobiles - Passenger Cars to 1.04% (by 1.23%) among others.

On the top of it, the scheme had highest exposure to Bharti Airtel 4.30 lakh units (4.93% of portfolio) followed by ICICI Bank with 5.73 lakh units (4.12%), Reliance Industries with 2.00 lakh units (3.95%) and Oil & Natural Gas Corporation with 3.50 lakh units (3.74%) among others in December 2008.

However, in December 2008, it reduced its exposure to Housing Development Finance Corporation by selling 57913 units to 53759 units (by 1.57%) in line with Maruti Suzuki India by selling 1.20 lakh units to 1.25 lakh units (1.23%), ONGC by selling 42500 units to 3.50 lakh units (0.98%) and Hero Honda Motors by selling 50000 units to 90000 units (0.79%) among others.

HDFC Mutual Fund Declaration Date For Dividend - Jan 9, 2009

HDFC Mutual Fund has announced January 13, 2009 as the record date for declaration of dividend under dividend option of HDFC Fixed Maturity Plan -90D October 2008 (1), on face value of Rs 10 per unit. The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV as on January 6, 2009 under retail plan was Rs. 10.2759 per unit while Rs 10.2781 per unit for wholesale plan.

HDFC Fixed Maturity Plan -90D October 2008 (1) a close-ended income scheme with an investment objective to seek to generate regular income through investments in debt/ money market instruments and government securities.

ICICI Mutual Fund Declare Dividend - Jan 9, 2009

ICICI Prudential Mutual Fund has declared dividend in the dividend option of ICICI Prudential Fixed Maturity Plan-Series 36-Eighteen Months Plan B. The record date for the dividend is January 13, 2009. The fund house has decided to distribute 100% distributable surplus as dividend on record date.

The scheme as on December 31, 2008 recorded an NAV of Rs 10.1588 per unit under retail dividend option.

ICICI Prudential Fixed Maturity Plan-Series 36- Eighteen Months Plan B is a close-ended debt scheme with an objective to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing inline with the time profile of the plan.

Birla Sun Life Asset Mutual Fund Introduces Monthly Dividend - Jan 9, 2009

Birla Sun Life Asset Mutual Fund introduces monthly dividend sweep option under the Birla Sun Life Dynamic Bond Fund an open ended income scheme, with effect from 12 January 2009.

Details of the option

Name of the Option: Monthly Dividend Sweep Option

Features: under this option the unitholder can opt for switching the dividend earned under the scheme into any other open ended equity scheme or Balanced Scheme of Birla Sun Life Mutual Fund. Accordingly, dividend earned by the unitholders shall be automatically switched either into any other open ended equity scheme of BSL Mutual Fund as opted by the unit holder. The dividend shall be switched subject to minimum investment/sweep amount of Rs 1000 or the minimum investment eligibility criteria of the scheme into which the dividend is sweeped in. whichever is higher, at applicable NAV based prices plus applicable load. The sweep into the respective open-ended equity scheme will be done on the immediately succeeding business day after the record date. Further this facility shall not allow for switch of partial dividend or switch of dividend to multiple schemes.

Dividend Frequency: Under this option, the record date will be the last Friday of each month, subject to the availability of distributable surplus. However, actual declaration of dividends and frequency thereof is at the discretion of trustees.

Minimum application amount: Minimum of Rs 5 lakh and in multiples of Re 1 thereafter on an ongoing basis.

The option introduced under the scheme will have the same investment objective, portfolio, liquidity, applicable load structure and expense ratio as that of existing options.

Bharti AXA MF Plans To Launch Government Securities Fund - Jan 8, 2009

Bharti AXA MF plans to launch open-ended government securities fund, which will endeavour to generate reasonable returns from a portfolio of Government Securities.

However, the scheme will offer two plans- regular and institutional options and both the options will offer- Growth option for capital appreciation along with the Dividend Reinvestment Option for regular income (with monthly, quarterly and Half - Yearly frequency of dividend re-investment) as well as the Dividend Pay-out Option for regular income (with monthly, quarterly and Half - Yearly frequency of dividend pay-out).

The scheme may invest its entire in government corpus in government securities guaranteed by the central government and/or any state government(s) repos/ reverse repos /CBOL /T-Bills and/or other similar instruments, as may be permitted form time to time.

Reliance Mutual Fund Announced Record Date For Dividend - Jan 8, 2009

Reliance Mutual Fund has announced January 12, 2009 as the record date for declaration of dividend of Reliance Fixed Horizon Fund -VIII -Series-9 on the face value of Rs 10 per unit. The fund will offer dividend for the retail as well as the institutional plans of scheme. The fund house has decided to distribute 100% of surplus available as on record date.

The NAV of scheme as on January 5, 2009 under retail plan was at Rs 10.1929 per unit and institutional plan was at Rs 10.1850 per unit as on. Reliance Fixed Horizon Fund -VIII -Series-9 is a close ended income scheme with an investment objective to generate regular returns along with the growth of capital by investing in diversified portfolio of central and state government securities as well as other fixed income /debt securities normally maturing in line with the time profile of the plan.

Franklin Templeton Mutual Fund Announced Quarterly Interval Plan - Jan 7, 2009

Franklin Templeton mutual fund has announced that the transaction window of Templeton Quarterly Interval Plan will open on the following dates and will remain open for 1 business day for the calendar year 2009. The dates of transaction windows of Templeton Quarterly Interval Plan-A will be opened on 24 February 2009 as well as 26 May 2009, 25 August 2009, and 24 November 2009.

On the other hand, the Templeton Quarterly Interval Plan-B will open for transaction for 1 day on dates of 18 March 2009 as well as 17 June 2009, 16 September 2009, and 16 December 2009. In line with this, Templeton Quarterly Interval Plan-C will be opened as transaction window on 28 January 2009 as well as 29 April 2009, 29 July 2009, and 28 October 2009.

On the top of this, if the specified date of opening transaction window falls on a non-business day, then on the following business day, transaction window will open. Accordingly, the date of opening of subsequent transaction windows may also revise.

Shari'ah Got NOD From SEBI - Jan 7, 2009

Taurus Parsoli Ethical Fund, five-year close-ended equity oriented scheme, which is the India's first Shari'ah-Compliant mutual fund got nod from the SEBI. Taurus in October 2007 had filed the offer document with Sebi for approval. However, the fund house plans to launch after Muharram or in April. The offer price is Rs 10 per unit.

Taurus Parsoli Ethical Fund is a closed-ended Equity oriented Scheme with automatic conversion into an open ended scheme after 5 years from the date of allotment. The scheme offers two options viz. growth and dividend option. The minimum amount of application of the scheme is Rs 5000 and thereafter in multiples of Rs 1000. The objective of the scheme is to provide capital appreciation along with the income distribution to unit holders through investment in a diversified portfolio of equities, which are Shari'ah compliant. Shari'ah compliance: The scheme only invest in those listed securities, which are shari'ah compliant, and as approved by shari'ah Board.

UTI Mutual Fund Announced Dividend - Jan 7, 2009

UTI Mutual Fund has announced dividend under dividend option of UTI Fixed Income Interval Fund -Monthly Interval Plan II. The record date for the same is January 12, 2009. However, 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 as on 02 January 2009 for both retail and institutional plan was at Rs. 10.0516 per unit.

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