Birla Sun Life Infrastructure Fund Introduces New Plan - May 30, 2009

Birla Sun Life mutual fund has approved the following changes in Birla Sun Life Infrastructure Fund, which will be effective from May 29, 2009. The dividend plan and growth plan offered under the scheme are renamed and classified into Plan A. Under the scheme, the pan A will have growth as well as dividend option. The dividend option will offer payout and reinvestment, sweep facilities.

The Birla Sun Life Infrastructure Fund will introduce Plan B with effect from May 29, 2009. The pan B under the scheme will have growth and dividend option. The dividend option will offer payout, reinvestment, sweep facilities. The offer price will Rs 10 each at par on May 29 and at applicable NAV based prices thereafter. The minimum application amount will be Rs 5 lakh and in multiples of Re 1 thereafter.

ICICI Prudential Mutual Fund Floating Rate Plan Announce Changes - May 30, 2009

ICICI Prudential mutual fund has approved the changes in minimum application amount under ICICI Pru Floating Rate Plan-Plan B and exit load structure of ICICI Pru Floating Rate Plan-Plan A. The proposed changes will be effective from June 1, 2009.

Accordingly, the minimum application amount for all fresh purchases/switches under ICICI Pru Floating Rate Plan B will be Rs 10 lakh and in multiples of Re 1 thereafter. ICICI Pru Floating Rate Plan A will not charge exit load from June 1, 2009.

Morgan Stanley Short Term Mutual Fund Revises Load Structure - May 30, 2009

Morgan Stanley Mutual Fund has approved the revision of exit load structure in Morgan Stanley Short Term Bond Fund, an open-ended debt scheme, for all the applications received from May 28, 2009. Accordingly, the fund will not levy any exit load under both regular as well as institutional plus plan. Earlier, it charged an exit load of 0.25% if redeemed within 15 days of allotment.

However, the scheme do not ask entry load under both regular and institutional plus plan. The new offer period was opened for fresh subscription from May 12, 2009 till May 20, 2009. The objective of the scheme is to generate income from a diversified portfolio of short to medium term debt and money market securities.

UTI Mutual Fund Summit Account Offers Additional Benefit - May 29, 2009

UTI Mutual Fund has approved 4 June 2009 as the record date for declaration of bonus under UTI Top 100 Fund on the face value of Rs 10 per unit. The quantum of bonus will be in ratio of 1:1 i.e. 1 additional unit for every 1 unit currently held by investors. The NAV in income retail plan was recorded Rs. 37.54 per unit while growth retail plan recorded NAV of Rs 43.440 per unit as on 27 May 2009.

UTI Top 100 Fund, an open-ended equity scheme aims to provide long term capital appreciation/dividend distribution by investing predominantly in equity and equity related instruments of top 100 stocks by market capitalization.

HDFC MF Declares Payment In Support Of FMP - May 29, 2009

HDFC Mutual Fund has announced 3 June 2009 as the record date for declaration of dividend under HDFC FMP 370D May 2008 (3), a fixed maturity plan under HDFC Fixed Maturity Plans-Series VIII. The dividend will be declared in Normal and Quarterly Dividend Options under Retail Plan and Quarterly Dividend Options under Wholesale Plan.

The fund house has decided to distribute 100% of distributable surplus as dividend on the record date on the face value of Rs 10 per unit. The Retail Plan-Normal Dividend Option posted NAV of Rs 10.8929 per unit and Rs 10.6782 per unit under Retail Plan-Quarterly Dividend Option as on 27 May 2009. The Wholesale Plan-Quarterly Dividend Option posted NAV of Rs 10.6938 per unit as on 27 May 2009.

HDFC FMP 370D May 2008(3) is a close ended income scheme with an investment objective to generate regular income through investment in debt/money market instruments and government securities.

Morgan Stanley Dynamic Union Mutual Fund Revises Structure - May 29, 2009

Morgan Stanley Mutual Fund has approved the revision of exit load structure in Morgan Stanley Active Bond Fund, an open-ended debt scheme, applicable for applications received on an ongoing basis post initial allotment. The new offer period was opened for fresh subscription from May 12, 2009 till May 25, 2009.

Accordingly, under regular plan, for purchases below Rs 50 lakh, the fund will charge 1% as exit load if redeemed on or before the expiry of 1 year of allotment while there will be no exit load for purchase of Rs 50 lakh and above. For purchase of Rs 50 lakh and above, the fund will not charge exit load.

Under institutional plus plan, the fund will not charge any entry and exit load. The investment objective is to generate optimal returns through active management of the portfolio consisting of debt as well as money market securities.

Kotak MF Announces Change In Load Structure - May 28, 2009

Kotak Mutual Fund has announced the changes in load structure under Kotak 30 as well as Kotak Midcap, Kotak Contra, Kotak Opportunities, Kotak Lifestyle, Kotak Balance, Kotak Tax Saver and Kotak Equity FOF with effect from June 1, 2009. The changes are: Entry load: All the above scheme will charge an entry load of 2.25%, for the purchase amount less than Rs 5 crore.

However, for switches, from equity/balanced/equity FOF scheme to equity/balanced/equity FOF scheme, there will be no entry load. From other close ended schemes (excluding FMP and Interval Plans) during the predefined liquidity window of the scheme as defined in the respective offer documents or on maturity into equity/balanced/equity FOF scheme, there will be no entry load. From any other scheme (other than the above mentioned scheme) to equity/balanced/equity FOF scheme-the scheme will charge an entry load of 2.25% for purchase amount less than Rs 5 crore.

Exit load: For redemptions or switch outs in respect of SIP/STP transactions-For amount invested less than Rs 5 crore, an exit load of 2.25% will be charged if exit within 2 years from the allotment of units while it will be nil for an exit on or after 2 years. For other redemptions or switch outs - the scheme will charge an exit load of 1.00% for exit within 1 year from the allotment of units and nil for exit on or after 1 year from the allotment of units.

Morgan Stanley Active Bond Fund Revises Load Structure - May 28, 2009

Morgan Stanley Mutual Fund has approved revision of exit load structure in Morgan Stanley Active Bond Fund applicable for applications received on an ongoing basis post initial allotment. Morgan Stanley Active Bond Fund is an open-ended debt scheme. The new offer period was opened for fresh subscription from 12 May 2009 till 25 May 2009.

Accordingly, under regular plan, for purchases below Rs 50 lakh, the fund will charge an exit load of 1% if redeemed on or before the expiry of 1 year of allotment while no exit load for purchase of Rs 50 lakh and above. For purchase of Rs 50 lakh and above, the fund will not charge exit load.

Under institutional plus plan, the fund will not charge entry and exit load. The investment objective is to generate optimal returns through active management of the portfolio consisting of debt and money market securities.

Birla Sun Life MF Declares Dividend In FTP-Series AV - May 28, 2009

Birla Sun Life Mutual Fund has approved the declaration of dividend under dividend option of Birla Sun Life Fixed Term Plan-Series AV, a close ended income scheme. The record date for distribution of dividend is set as 1 June 2009. The amount of dividend will be up to 100% of distributable surplus as on the record date on face value of Rs 10 per unit.

The dividend will be announced for retail and institutional plan. Retail plan recorded NAV of Rs 10.9220 per unit and institutional plan posted NAV of Rs 10.9389 per unit as on 26 May 2009.

Birla Sun Life Fixed Term Plan-Series AV seeks to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme.

Sundaram BNP Paribas The Ended Nearly All Of The Moment - May 27, 2009

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 11161.77 crore in April 2009.

Sundaram BNP Paribas Select Focus (G) an open-ended equity scheme launched in June 2002. The objective of the scheme is to achieve capital appreciation by investing in very few select stocks. The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 66.30 per unit as on 26 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 109.40 crore to Rs 910.46 crore in April 2009.

Sundaram BNP Paribas Select Focus (G) took fresh exposure to eight stocks in April 2009. It has purchased 4.56 lakh units (2.44%) of Mahindra & Mahindra, 13.01 lakh units (1.64%) of India Cements, 29.34 lakh units (1.42%) of Unitech and 6.33 lakh units (1.32%) of Pantaloon Retail (India) among others.

The scheme exited completely from HDFC Bank by selling 2.51 lakh units (3.04%), Hindustan Unilever by selling 9.78 lakh units (2.91%), Hindustan Petroleum Corporation by selling 5.90 lakh units (1.98%) and NTPC by selling 8.21 lakh units (1.85%) among others in April 2009.

Sector-wise, the scheme took fresh exposure to Automobiles-Tractors at 2.44%, Cement-South India at 1.64% and Textiles-Products at 1.32% in April 2009.

Sector-wise, the scheme exited completely from Personal Care-Multinational at 2.91%, Pharmaceuticals-Indian-Bulk Drugs & Formulation at 1.50% and Automobiles-Passenger Cars at 1.03% among others in April 2009.

The scheme had highest exposure to Reliance Industries with 4.85 lakh units (9.62% of portfolio size) followed by ICICI Bank with 9.95 lakh units (5.22%), Bharti Airtel with 6.17 lakh units (5.09%) and State Bank of India with 3.38 lakh units (4.75%) among others in April 2009.

It reduced its exposure to Reliance Communication by selling 3.75 lakh units to 13.01 lakh units (by 0.58%), Bharat Heavy Electricals by selling 24137 units to 1.10 lakh units (by 0.52%), ITC by selling 2543 units to 19.13 lakh units (by 0.45%) and State Bank of India by selling 34953 units to 3.38 lakh units (by 0.22%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Refineries at 11.61% (from 11.79% in March 2009), followed by Power Generation and Supply at 10.35% (8.72%), Banks-Public Sector at 8.32% (8.53%) and Telecommunications-Service Provider at 8.16% (5.26%) among others in April 2009.

Sector wise, the scheme had reduced exposure to Electric Equipment to 2.00% (by 0.52%), Cigarettes to 3.98% (by 0.45%), Banks-Public Sector to 8.32% (by 0.21%) and Steel-Large to 2.27% (by 0.19%) among others in April 2009.

Performance: The performance of scheme is benchmarked against S&P CNX Nifty. The scheme has underperformed the benchmark index over most of the time periods.

The scheme has posted returns of 21.22% outperforming the S&P CNX Nifty that gained 18.27% over 1 month period ended 26 May 2009. Over 3 months period, the scheme advanced by 42.72% underperforming the S&P CNX Nifty that gained 47.78%. It fell 15.81% more than the benchmark index that declined by 15.56% over 1 year period.

ICICI Prudential Growth Fund The Over Most Of The Occasion - May 26, 2009

Background: Prudential ICICI Asset Management Company Ltd manages prudential ICICI Mutual Fund. A joint venture between Prudence Plc, UK's leading insurance company and ICICI Bank Ltd. India's premier financial institution. Prudential ICICI Mutual Fund house has Rs 56049.28 crore assets under management as on April 2009.

ICICI Pru Growth Fund (G) an open-ended equity scheme launched in June 1998. The objective of the scheme is to seek to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities. The minimum investment amount is Rs 5000 and in multiples of Rs 1 thereafter. The unit NAV of the scheme was Rs 95.51 as on 25 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 33.60 crore to Rs 283.59 crore in April 2009.

ICICI Pru Growth Fund (G) took fresh exposure to one stock in April 2009. It has purchased 25964 units (1.08%) of Hero Honda Motors.

The scheme exited completely from Cairn India by selling 1.46 lakh units (1.08%) in April 2009.

Sector-wise, the scheme took fresh exposure to Automobiles-Motorcycles/Mopeds at 1.08% in April 2009.

Sector-wise, the scheme did not exit completely from any sectors in April 2009.

The scheme had highest exposure to Reliance Industries with 1.71 lakh units (10.91% of portfolio size) followed by Bharti Airtel with 2.48 lakh units (6.57%), Oil & Natural Gas Corporation with 1.77 lakh units (5.42%) and Infosys Technologies with 88929 units (4.73%) among others in April 2009.

It reduced its exposure to Bharti Airtel of India by selling 39838 units to 2.48 lakh units (by 0.65%), ITC by selling 323 units to 6.42 lakh units (by 0.47%), Hindustan Unilever units to 2.07 lakh units (by 0.25%) and GAIL (India) by selling 1540 units to 2.71 lakh units (by 0.21%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Refineries at 12.27% (from 11.76% in March 2009), followed by Computers-Software-Large at 7.14% (5.59%), Telecommunications-Service Provider at 6.57% (7.22%) and Power Generation and Supply at 5.73% (4.72%) among others in April 2009.

Sector wise, the scheme had reduced exposure to Oil Drilling/Allied Services to 5.42% (by 1.21%), Telecommunications-Service Provider to 6.57% (by 0.65%), Cigarettes to 4.28% (by 0.47%) and Personal Care-Multinational to 1.72% (by 0.25%) among others in April 2009.

Performance: The performance of scheme is benchmarked against S&P CNX Nifty. The scheme has underperformed the benchmark index most of the time periods except 1 year period.

The scheme has posted returns of 16.62% underperforming the S&P CNX Nifty that gained 21.74% over 1 month period ended 25 May 2009. Over 3 months period, the scheme advanced by 41.73% underperforming the S&P CNX Nifty that gained 53.40%. It fell 11.68% less than the benchmark index that declined by 14.33% over 1 year period.

Bharti AXA Equity Fund Declares Dividend - May 25, 2009

Bharti AXA Equity Fund declared a dividend under quarterly and regular dividend options of Regular, Eco plan and Institutional Plan in Bharti AXA Equity Fund. The record date for the same is 29 May 2009. The quantum of the dividend for all the above plans under quarterly dividend option is Re 0.50 per unit (i.e. 5% per unit) and Re 1.00 per unit (i.e. 10% per unit) under regular dividend option.

The NAV of quarterly and regular dividend option of Regular plan was at Rs 14.18 per unit, respectively. Eco Plan recorded the NAV of Rs 14.21 per unit under quarterly and regular dividend options.

The scheme is an open ended equity growth fund, with investment objective to generate income and long term capital appreciation through a diversified portfolio of predominantly equity and equity related securities including equity derivatives, across all market capitalizations.

ICICI Mutual Fund Revises Stack Formation In Different Resources - May 25, 2009

ICICI Prudential Mutual Fund has announced changes in exit load structure of ICICI Prudential Balanced Fund, ICICI Prudential Infrastructure Fund, ICICI Prudential Power, ICICI Prudential Discovery Fund, ICICI Prudential Services Industries Fund, ICICI Prudential Dynamic Plan, ICICI Prudential Emerging S.T.A.R (Stocks Targeted At Returns) Fund, ICICI Prudential Banking & Financial Services Fund, ICICI Prudential Focused Equity Fund, ICICI Prudential Equity and Derivatives-Wealth Optimiser Plan, ICICI Prudential FMCG Fund, ICICI Prudential Indo Asia Equity Fund and ICICI Prudential Technology Fund, with effect from 01 June 2009.

Accordingly, for the above mentioned schemes, the exit load structure (excluding Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP)) under retail option will be revised to 1.00% of the applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of upto one year from the date of allotment.

The scheme will not charge any exit load, if the amount sought to be redeemed or switched out is invested for a period of more than one year from the date of allotment. And it will also not charge any exit load for an investment amount of Rs 5 crore and above.

For all applications under ICICI Prudential Balanced Fund made through Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP), the scheme will charge an exit load of 1.5%, if the amount sought to be redeemed or switched out is invested for a period of upto one year from the date of allotment.

The exit load will be 1.00% if the amount sought to be redeemed or switched out is invested for a period of more than one year upto two years from the date of allotment and nil, if the amount sought to be redeemed or switched out is invested for a period more than two years from the date of allotment.

Reliance Equity Fund Outperforms The Time Periods - May 25, 2009

Background: Reliance Capital Limited is the sponsor of Reliance Capital Assets Management Ltd set up in June 1995. Reliance Capital Ltd. is a member of the Reliance Group and has been promoted by Reliance Industries Limited (RIL), one of India's largest private sector enterprises. The fund house manages assets worth Rs 88387.99 crore at end of April 2009. Reliance Equity Fund (G) an open-ended equity scheme launched in February 2006.

The primary investment objective of the scheme is to seek to generate capital appreciation & provide long-term growth opportunities by investing in a portfolio constituted of equity & equity related securities of top 100 companies by market capitalization & of companies which are available in the derivatives segment from time to time and the secondary objective is to generate consistent returns by investing in debt and money market securities.

The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 12.54 as on 22 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 156.82 crore to Rs 1835.07 crore in April 2009.

Reliance Equity Fund (G) took fresh exposure to three stocks in April 2009. It has purchased 14.96 lakh units (1.81%) of Shriram Transport Finance Company, 10.01 lakh units (1.28%) of Hindustan Unilever and 11.83 lakh units (1.22%) of Pantaloon Retail (India) among others.

The scheme exited completely from any stocks United Spirits by selling 7.30 lakh units (2.83%), ITC by selling 18.61 lakh units (2.05%) and Grasim Industries by selling 2.02 lakh units (1.90%) among others in April 2009.

Sector-wise, the scheme took 0fresh exposure to Finance & Investments at 1.81%, Personal Care-Multinational at 1.28% and Textiles-Products at 1.22% in April 2009.

Sector-wise, the scheme exited completely from Breweries & Distilleries at 2.83%, Cigarettes at 2.05% and Diversified-Mega at 1.90% in April 2009.

The scheme had highest exposure to State Bank of India with 8.89 lakh units (6.19% of portfolio size) followed by Divis Laboratories with 12.06 lakh units (5.61%), Reliance Industries with 4.58 lakh units (4.50%) and Reliance Communication with 33.72 lakh units (3.95%) among others in April 2009.

It reduced its exposure to Divis Laboratories of India to 12.06 lakh units (by 1.17%), Oil & Natural Gas Corporation by selling 99733 units to 4.72 lakh units (by 0.43%), Cipla by selling 2.11 lakh units to 28.28 lakh units (by 0.27%) and Maruti Suzuki India by selling 6311 units to 8.12 lakh units (by 0.17%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Banks-Public Sector at 8.76% (from 8.07% in March 2009), followed by Telecommunications-Service Provider at 6.46% (6.15%), Computers-Software-Large at 6.41% (5.80%) and Pharmaceuticals-Indian-Bulk Drugs at 5.61% (6.78%) among others in April 2009.

Sector wise, the scheme had reduced exposure to Pharmaceuticals-Indian-Bulk Drugs to 5.61% (by 1.17%), Oil Drilling/Allied Services to 2.23% (by 0.43%), Pharmaceuticals-Indian-Bulk Drugs & Formulation to 3.71% (by 0.27%) and Automobiles-Passenger Cars to 3.61% (by 0.17%) among others in April 2009.

Performance: The performance of scheme is benchmarked against S&P CNX Nifty. The scheme has outperformed the benchmark index over 1 month and 1 year period while underperformed 3 month and 6 month period.

The scheme has posted returns of 22.04% outperforming the S&P CNX Nifty that gained 21.77% over 1 month period ended 22 May 2009. Over 3 months period, the scheme advanced by 46.34% underperforming the S&P CNX Nifty that gained 55.03%. It fell 8.64% less that the benchmark index that declined by 14.31% over 1 year period.

Reliance MF Declares Payment For Journal Period Account - May 23, 2009

Reliance Mutual Fund has declared dividend under dividend option of Reliance Interval Fund-Monthly Interval Fund-Series II. The record date for the dividend is 28 May 2009. The fund house has decided to offer dividend on the face value of Rs 10 per unit for both plans viz. retail and institutional plans. The quantum of dividend will be 100% of distributable surplus as on the record date.

The NAV for the scheme under retail plan was Rs 10.0366 per unit and under institutional plan was Rs 10.0379 per unit as on 22 May 2009.

Reliance Interval Fund-Monthly Interval Fund, is a debt oriented interval scheme with an investment objective to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility

Tata Fixed Investment Plan Series 4 Declares Dividend - May 23, 2009

Tata Mutual Fund has proposed to declare dividend under periodic dividend option of Tata Fixed Investment Plan Series 4 - Scheme B. 27 May 2009, is set as the record date. The quantum of dividend will be upto 100% of the returns generated between 28 January 2009 to 27 May 2009 subject to the availability of distributable surplus (i.e. net of dividend distribution tax and other statutory levy) available on the record date will be distributed as dividend on face value of Rs 10 per unit.

The NAV of the regular investment plan was at Rs 10.7193 per unit. The NAV of the high investment plan and super high investment plan was at Rs 10.7328 and Rs 10.7536 per unit respectively, as on 20 May 2009.

Tata Fixed Investment Plan Series 4 - Scheme B is a close ended debt fund with an aim to generate income and/or capital appreciation by investing in wide range of debt and money market instruments.

ING MF Declares Dividend Less Than FMF Progression - May 23, 2009

27 May 2009, is fixed by as the record date ING Mutual Fund for declaration of dividend for ING Fixed Maturity Fund - Series 47 on face value of Rs 10 per unit. The fund will offer dividend for both retail and institutional plan. The AMC plans dividend of 100% of distributable surplus as on record date on face value of Rs 10 per unit. The NAV for both retail and institutional plan was at Rs 10.3577 per unit as on 20 May 2009.

ING Fixed Maturity Fund - Series 47 is a close ended schemes launched in May 2008, offering an investment plan of 366 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.

Franklin Templeton India Balanced Fund Offers Tax-Free Dividend - May 22, 2009

Franklin Templeton Investments (India) Mutual Fund has announced tax free dividend of Rs. 2.00 per unit on the face value of Rs. 10 under the dividend option of Franklin Templeton India Balanced Fund. The record date for dividend is May 27, 2009. All the investors registered in the dividend plan as on 27 May 2009 will receive this tax-free dividend.

There will be a one-day book closure in the growth and dividend plans on May 28, 2009 and the Fund will reopen for ongoing purchases and redemptions on May 29, 2009. Under the dividend reinvestment plan, the dividend declared will be reinvested in the Fund at the NAV of May 29, 2009 and the unit holders will be allotted additional units for the dividend amount.

FT India Balanced Fund was launched in September 1999 as an open-end balanced fund.

Birla Sun Life MF Introduce Generate Capacity - May 22, 2009

Birla Sun Life Mutual Fund has introduced new facility called "Trigger Facility" in the growth option of Birla Sun Life Frontline Equity Fund, with effect from May 22, 2009. Under this facility, the investor can choose a specific % target return, which, if achieved, the gain/fund value (as opted by the investor) shall be switched to the growth option of the debt scheme selected by the investor from the options provided.

This facility is being made available for the transaction made through electronic mode only. The trigger levels are 15%, 30%, 50% & 100% gain from average cost of acquisition of the units in the scheme.

Trigger Switch options: The gain amount or the whole invested amount with gain in the scheme to debt scheme selected by investor. The minimum application amount criteria for debt schemes will not be applicable for the switches.

Debt Schemes: Birla Sun Life Savings Fund-Retail Plan-Growth option, Birla Sun Life Short Term Fund-Retail Plan-Growth Option, Birla Sun Life Dynamic Bond Fund-Retail Plan-Growth Option, Birla Sun Life Cash Plus-Retail Growth

Default trigger/scheme: The default trigger level - 15%, Default debt scheme for switch -in - Birla Sun Life Savings Fund- Retail Plan-Growth Option.

HDFC Equity Fund The Index Over Most Of The Periods - May 22, 2009

Background: HDFC Assets Management Company is sponsored by Housing Development Finance Corporation Limited (HDFC) and Standard Life Investment Ltd. HDFC incorporated in 1977 as the first specialized housing finance institution in India. HDFC AMC was incorporated on 10 December 1999, and today manages assets worth Rs. 63880.63 crore at the end of April 2009.

HDFC Equity Fund (G) an open-ended equity-diversified scheme launched in December 1994.The scheme aims at providing capital appreciation through investments predominantly in equity-oriented securities. The minimum investment amount for new investors is Rs.5000 and any amount thereafter while for existing investors it is Rs 1000 and any amount thereafter. The unit NAV of the scheme was Rs. 159.75 as on 21 May 2009.

Portfolio: The total net assets of the scheme increased by Rs.435.98 crore to Rs.2908.35 crore in April 2009.

HDFC Equity Fund (G) took fresh exposure to three stocks in April 2009. It has purchased 50.00 lakh units (1.99%) of Punj Lloyd, 5.00 lakh units (1.20%) of Reliance Infrastructure and 12.50 lakh units (0.45%) of Dabur India among others.

The scheme did not exit completely from any stock among others in April 2009.

Sector-wise, the scheme took fresh exposure to Power Generation and Supply at 1.20% and Personal Care – Indian at 0.45% in April 2009.

Sector-wise, the scheme did not exit completely from any sector in April 2009.

The scheme had highest exposure to State Bank of India with 13.50 lakh units (5.94% of portfolio size) followed by Bank of Baroda with 45.25 lakh units (5.09%), ICICI Bank with 30.00 lakh units (4.94%) and Crompton Greaves with 75.78 lakh units (4.17%) among others in April 2009.

It reduced its exposure to Oil & Natural Gas Corporation of India by selling 8.15 lakh units to 1.85 lakh units (by 2.61%), Reliance Industries by selling 3.22 lakh units to 3.75 lakh units (by 1.97%), Hero Honda Motors by selling 1.86 lakh units to 7.70 lakh units (by 1.02%) and Tata Steel by selling 9.00 lakh units to 5.00 lakh units (by 0.76%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Banks - Public Sector at 12.02% (from 11.12% in March 2009), followed by Banks-Private Sector at 8.76% (5.41%), Pharmaceuticals-Indian-Bulk Drugs & Formulation at 8.41% (8.71%) and Food-Processing-MNC at 7.01% (7.57%) among others in April 2009.

Sector wise, the scheme had reduced exposure to Oil Drilling/Allied Services to 0.55% (by 2.61%), Refineries to 4.09% (by 2.22%), Automobiles-Motorcycles/Mopeds to 3.13% (by 1.02%) and Steel-Large to 0.87% (by 0.78%) among others in April 2009.

Performance: The performance of scheme is benchmarked against S&P CNX 500 Index. The scheme has outperformed the benchmark index over most of the time periods.

The scheme has posted returns of 29.95% outperforming the S&P CNX 500 Index that gained 27.37% over 1 month period ended 21 May 2009. Over 3 months period, the scheme advanced by 61.91% outperforming the benchmark index that gained 58.00%. Return of the scheme fell 9.31% less than benchmark index that plunged by 20.29% over 1 year period.

ICICI Pru MF Declares Dividend For 14 Months FMP - May 21, 2009

ICICI Prudential Mutual Fund has declared dividend under the dividend option of ICICI Prudential Fixed Maturity Plan- Series 43-14 Months Plan A, a close-ended debt fund. The record date for the same is May 25, 2009. The fund house has decided to offer 100% of distributable surplus as dividend as on the record date on the face value of Rs 10 per unit. The NAV of the scheme as on May 13, 2009 was at Rs 11.0385 per unit.

The objective of the scheme is to generate returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the Scheme.

Birla Sun Life MF Introduces Trigger Facility - May 21, 2009

Birla Sun Life Mutual Fund has introduced new facility namely “Trigger Facility” in the growth option of Birla Sun Life Frontline Equity Fund, an open ended growth scheme, with effect from 22 May 2009. Features: Under this facility, the investor can choose a specific % target return, which, if achieved in the scheme, the gain/fund value (as opted by the investor) shall be switched to the growth option of the debt scheme selected by the investor from the options provided. This facility is being made available for transaction made through electronic mode only.

Trigger levels: 15%, 30%, 50% & 100% gain from average cost of acquisition of the units in the scheme.

Trigger Switch options: Gain amount or entire invested amount with gain in the scheme to debt scheme selected by investor. The minimum application amount criteria for debt schemes will not be applicable for switches.

Debt Schemes: Birla Sun Life Savings Fund-Retail Plan-Growth option, Birla Sun Life Short Term Fund-Retail Plan-Growth Option, Birla Sun Life Dynamic Bond Fund-Retail Plan-Growth Option, Birla Sun Life Cash Plus-Retail Growth

Default trigger/scheme: Default trigger level-15%, Default debt scheme for switch-in-Birla Sun Life Savings Fund-Retail Plan-Growth Option.

NAV for Switch: NAV of the trigger day will be considered for the purpose of switch. In case of non business day in debt schemes, switch will be processed on next business day for both the schemes.

Entry load for trigger facility: Entry load as applicable to Birla Sun Life Frontline Equity Fund

Exit Load at time of triggered switch: Nil

Entry Load at the time of switch-in to debt scheme: Entry load as applicable to debt scheme(s) at the time of switch-in

Exit load at the time of redemption from Birla Sun Life Frontline Equity Fund: Exit load as applicable to Birla Sun Life Frontline Equity Fund

Exit load at time of redemption from debt scheme: Exit load as applicable to respective debt scheme(s).

UTI Equity Tax Savings Plan Ended Every Occasion Periods - May 21, 2009

Background: UTI Mutual Fund is managed by UTI Assets Management Company Private Limited has come into existence with effect from 1st Feb.2003 who has been appointed by the UTI Trustee Company Pvt. Ltd. for managing the scheme of UTI Mutual and the scheme transferred from UTI Mutual Fund.

Three leading public sector banks-Bank of Baroda, Punjab National Bank and life Insurance Corporation of India are sponsors of the UTI Mutual Fund. The fund house manages assets worth Rs 54489.99 crore at the end of April 2009.

UTI-Equity Tax Savings Plan (G) is an open-ended equity oriented tax-savings scheme launched in November 1999. The scheme aims at providing unit holders benefits of investments in equities and at the same time avail of tax concessions available under Section 80 C of the Income Tax Act, 1961.

The minimum investment amount is Rs.500 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 28.25 as on 20 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 34.77 crore to Rs 308.49 crore in April 2009.

UTI-Equity Tax Savings Plan (G) took fresh exposure to only one stock in April 2009. The scheme has purchased 50000 units (1.45%) of Tata Power Company.

The scheme exited completely from Shree Cement by selling 15219 units (0.40%) in April 2009.

Sector -wise, the scheme took no fresh exposure to any sector in April 2009.

Sector-wise, the scheme did not exit completely from any sector in April 2009.

The scheme had highest exposure to State Bank of India with 1.23 lakh units (5.10% of portfolio size) followed by Bharti Airtel with 2.05 lakh units (5.00%), Bharat Heavy Electricals with 80000 units (4.29%) and Reliance Industries with 65000 units (3.81%) among others in April 2009.

It reduced its exposure from Gujarat State Petronet by selling 2.59 lakh units to 12.40 lakh units (by 0.50%), Maruti Suzuki India to 60000 units (by 0.13%), Bharat Heavy Electricals to 80000 units (by 0.12%) and Bharat Electronics to 66221 units (by 0.09%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Refineries at 6.57% (from 6.41% in March 2009), followed by Electric Equipment at 6.55% (6.27%), Banks-Public Sector at 5.10% (3.24%) and Telecommunications-Service Provider at 5.00% (4.69%) among others in April 2009.

Sector wise, the scheme had reduced exposure from Cement-North India to 0.51% (by 0.45%), Automobiles-Passenger Cars to 1.58% (by 0.13%), Oil Drilling/Allied Services to 2.70% (by 0.11%) and Electronics–Components to 2.05% (by 0.09%) among others in April 2009.

Performance: The performance of scheme is benchmarked against BSE 100. The scheme has underperformed the benchmark index over all time periods.

The scheme has posted returns of 22.61% underperforming the BSE 100 that gained 29.00% over 1 month period ended 20 May 2009. Over 3 months period, the scheme advanced by 39.64% underperforming the benchmark index that gained 61.67%. It fell 23.40% more than benchmark index that declined by 20.28% over 1 year period.

ICICI Prud Equity And Derivatives Fund Income Optimiser Plan - May 20, 2009

ICICI Prudential Mutual Fund has announced that ICICI Prudential Equity & Derivatives Fund- income Optimiser Plan shall be open for fresh subscription/additional purchases/switch-ins on and from May 19, 2009. ICICI Prudential Equity & Derivatives Fund-Income Optimiser Plan is an open-ended equity fund with an objective to generate low volatility returns by using arbitrage and other derivative strategies in equity markets as well as investments in short-term debt portfolio.

HDFC MF Declares Dividend For FMP 15M February - May 20, 2009

HDFC Mutual Fund has announced 25 May 2009 as the record date for declaration of dividend under normal and quarterly dividend option of HDFC FMP 15M February 2008-Retail plan, a fixed maturity plan under HDFC Fixed Maturity Plans-Series VII. The fund house has decided to distribute 100% of distributable surplus as dividend on the record date on the face value of Rs 10 per unit.

The scheme recorded NAV of Rs 11.1617 per unit under retail plan-normal dividend option and Rs 10.1206 per unit under retail plan-quarterly dividend option as on 18 May 2009.

HDFC Fixed Maturity Plans-Series VII is a close ended income scheme with an investment objective to generate regular income through investment in debt/ money market instruments and government securities.

Canara Robeco Equity Diversified Outperforms The BSE - May 20, 2009

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 6592.30 crore at the end of April 2009.

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 35.88 as on 19 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 26.77 crore to Rs 145.00 crore in April 2009.

Canara Robeco Equity Diversified Fund (G) took fresh exposure to eight stocks in April 2009. It has purchased 34500 units (3.93%) of Bharat Heavy Electricals, 1.70 lakh units (1.81%) of Power Finance Corporation and 30000 units (1.44%) of Reliance Infrastructure among others.

The scheme exited completely from Housing Development Finance Corporation by selling 14690 units (1.75%), Reliance Communication by selling 1.14 lakh units (1.68%) and Reliance Capital by selling 42000 units (1.26%) among others in April 2009.

Sector-wise, the scheme took fresh exposure to Electric Equipment at 3.93%, Finance - Term-Lending Institutions at 1.81%, Construction at 1.61% and Pesticides / Agrochemicals – Indian at 0.91% in April 2009.

Sector-wise, the scheme exited completely from Finance – Housing at 1.75%, Finance & Investments at 1.26% and Mining / Minerals / Metals at 0.86% in April 2009.

The scheme had highest exposure to Bharti Airtel with 1.72 lakh units (8.89% of portfolio size) followed by Reliance Industries with 53500 units (6.65%), State Bank of India with 59900 units (5.28%) and Tata Power Company with 75750 units (4.67%) among others in April 2009.

It reduced its exposure to Reliance Industries by selling 19000 units to 53500 units (by 2.69%), ICICI Bank by selling 70000 units to 56400 units (by 1.70%), Zee Entertainment Enterprises by selling 1.42 lakh units to 1.35 lakh units (by 1.44%) and Oil & Natural Gas Corporation by selling 16000 units to 46500 units among others in April 2009.

Sector-wise, the scheme had highest exposure to Telecommunications - Service Provider at 12.87% (from 11.02% in March 2009), followed by Banks - Public Sector at 9.51% (8.76%), Power Generation and Supply at 8.01% (5.96%) and Refineries at 7.34% (9.34%) among others in April 2009.

Sector wise, the scheme had reduced exposure to Banks - Private Sector to 7.23% (by 2.98%), Refineries to 7.34% (by 2.00), Entertainment / Electronic Media Software at 3.00% (by 1.99%) and Computers - Software – Large to 2.62% (by 1.75%) among others in April 2009.

Performance: The performance of scheme is benchmarked against BSE 200. The scheme has outperformed the benchmark index over most of the time periods except 1 month period.

The scheme has posted returns of 28.93% underperforming the BSE 200 that gained 29.61% over 1 month period ended 19 May 2009. Over 3 months period, the scheme advanced by 59.25% outperforming the benchmark index that gained 58.47%. It fell 8.86% less than benchmark index that declined by 21.91% over 1 year period.

IDFC MF Adds New Plan In Its Liquid Fund - May 16, 2009

IDFC Mutual Fund has decided to introduce a new plan as Plan D in IDFC Liquid Fund (IDFC-LF) with effect from 18 May 2009. The minimum application amount under the scheme is Rs 500 and in multiples of Re 1. The entry and exit load under the plan is nil. The investment objective, asset allocation pattern, investment portfolio, benchmark, applicable NAV etc of the Plan D shall be the same as that of existing Plan A of IDFC Liquid Fund (IDFC-LF).

IDFC Liquid Fund seeks to provide high liquidity by investing in a portfolio of money market instruments and debt instruments.

HDFC MF Declares Payment In Support Of FMP - May 16, 2009

HDFC Mutual Fund has announced 21 May 2009 as the record date for declaration of dividend under HDFC Fixed Maturity Plan 24M May 2007, a fixed maturity plan under HDFC Fixed Maturity Plans-Series V. The dividend will be declared under normal and quarterly dividend option of retail plan.

The fund house has decided to distribute 100% of distributable surplus as dividend on the record date on the face value of Rs 10 per unit.

The Retail Plan - normal dividend option posted NAV of Rs 12.1134 per unit and Rs 10.3080 per unit under Retail Plan-quarterly dividend option as on 14 May 2009.

HDFC Fixed Maturity Plan 24M May 2007 is a close ended income scheme with an investment objective to generate regular income through investment in debt/money market instruments and government securities.

SBI MF Announces Changes Into Consignment Construction - May 16, 2009

SBI Mutual Fund has announced change in load structure for Magnum Balanced Fund and Magnum Equity Fund with effect from 18 May 2009. Change in load structure of the schemes except Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP).

Investment below Rs 5 crore: 2.25%, Investment Rs 5 crore and above: Nil

Revised entry load: Nil

Existing exit load: For investment below Rs 5 crore and exit within 6 months from the date of allotment: 1%

For investment below Rs 5 crore and exit between 6 months and 12 months from the date of allotment: 0.5%

For investment Rs 5 crore and above: Nil

Revised exit load: For investment below Rs 5 crore and exit within 6 months from the date of allotment: 1.5%

For investment below Rs 5 crore and exit on or after 6 months but before 12 months from the date of allotment: 1%

For investment below Rs 5 crore and exit on or after 12 months: Nil

For investment Rs 5 crore and above: Nil

The load structure applicable for investment in the schemes through Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) remain unchanged as:

Entry load: Nil

Exit load: For investment below Rs 5 crore and exit within 6 months from the date of allotment: 1%

For investment below Rs 5 crore and exit between 6 months and 12 months: 0.5%

For investment Rs 5 crore and above: Nil

Magnum Balanced Fund is an open ended balanced scheme with an investment objective to provide investors long term capital appreciation along with liquidity of an open ended scheme by investing in a mix of debt and equity.

The scheme will invest in a diversified portfolio of equities of high growth companies and balance the risk through investing the rest in a relatively safe portfolio of debt.

Magnum Equity Fund is an open ended equity scheme with an investment objective to provide investors long term capital appreciation by investing in high growth companies along with the liquidity of an open ended scheme through investments primarily in equities and the balance in debt and money market instruments.

Kotak MF Declares Dividend For FMP 16M Series - May 15, 2009

Kotak Mutual Fund has declared dividend under dividend option of Kotak Fixed Maturity Plan 16M Series 2. The fund has decided to distribute 100% of distributable surplus as dividend available as on the record date of 18 May 2009 on the face value of Rs 10.

The scheme recorded NAV of Rs 10.2202 per unit under retail plan and Rs 10.2232 per unit for institutional plan as on 13 May 2009.

Kotak Fixed Maturity Plan 16M Series 2 is a close ended debt scheme. The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.

Reliance Vision Fund Under Performs The Time Periods - May 15, 2009

Background: Reliance Capital Limited is the sponsor of Reliance Capital Assets Management Ltd set up in June 1995. Reliance Capital Ltd. is a member of the Reliance Group and has been promoted by Reliance Industries Limited (RIL), one of India's largest private sector enterprises. The fund house manages assets worth Rs 88387.99 crore at end of April 2009.

Reliance Vision Fund (G) an open-ended equity growth scheme launched in September 1995. The primary investment objective of the scheme is to achieve long-term growth of capital by investment in equity & equity related securities through a research based investment approach. The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 158.00 per unit as on 14 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 295.12 crore to Rs 2694.14 crore in April 2009.

Reliance Vision Fund (G) took fresh exposure to only one stock in April 2009. It has purchased 16.63 lakh units (1.22%) of Canara Bank in April 2009.

The scheme exited completely from Tata Motors by selling 29.13 lakh units (2.19%), United Spirits by selling 7.31 lakh units (1.98%), Infrastructure Development Finance Company by selling 50.01 lakh units (1.13%) and Hindalco Industries by selling 47.14 lakh units (1.02%) in April 2009.

Sector-wise, the scheme took no fresh exposure to any sector in April 2009.

Sector-wise, the scheme exited completely from Automobiles-LCVs/HCVs at 2.19%, Breweries & Distilleries at 1.98%, Finance & Investments at 1.13% and Aluminium and Aluminium Products at 1.02% in April 2009.

The scheme had highest exposure to State Bank of India with 14.76 lakh units (7.00% of portfolio size) followed by Reliance Industries with 8.01 lakh units (5.36%) and Infosys Technologies with 9.00 lakh units (5.04%) among others in April 2009.

It reduced its exposure to Divis Laboratories to 14.49 lakh units (by 1.11%), Reliance Industries by selling 2.00 lakh units to 8.01 lakh units (by 1.00%), Hindustan Unilever to 37.10 lakh units (by 0.73%) and Housing Development Finance Corporation to 5.49 lakh units (by 0.59%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Computers-Software-Large at 9.26% (from 8.18% in March 2009), followed by Banks-Public Sector at 8.22% (4.78%), Refineries at 5.36% (6.36%) and Pharmaceuticals-Indian-Bulk Drugs at 4.59% (5.70%) among others in April 2009.

Sector wise, the scheme had reduced exposure to Pharmaceuticals-Indian-Bulk Drugs to 4.59% (by 1.11%), Refineries to 5.36% (by 1.00%), Personal Care-Multinational to 3.23% (by 0.73%) and Finance-Housing to 3.53% (by 0.59%) among others in April 2009.

Performance: The performance of scheme is benchmarked against BSE 100 Index. The scheme has underperformed the benchmark index over most of the time periods except 1 year period.

The scheme has posted returns of 6.29% underperforming the BSE 100 Index that gained 8.80% over 1 month period ended 14 May 2009. Over 3 months period, the scheme advanced by 18.14% underperforming the BSE 100 Index that gained 24.17%. It fell 27.67% less that the benchmark index that declined by 32.14% over 1 year period.

Kotak Bond Short Term Plan Modifies Exit Load Structure - May 15, 2009

Kotak mutual fund has announced revision of exit load structure in Kotak Bond Short Term Plan with effect from May 18, 2009. Accordingly, for investments less than or equal to Rs 2 crore, the exit load will be 0.25% if redeemed /switched out on or before 90 days from the date of allotment while there will be no exit load if redeemed/switched out after 90 days. However, for investments more than Rs 2 crore, the scheme will not levy exit load.

Kotak Bond Short Term Plan does not impose any entry load. Kotak Bond Short Term Plan is a debt fund that seeks to create a portfolio of debt as well as money market instruments of different maturities so as to spread the risk across a wide maturity horizon & different kinds of issuers in the debt markets.

MF Mobilization Jumps 37 Per Cent April 09 Versus April 08 - May 12, 2009

Securities and Exchange Board of India (Sebi) has released data on status of mutual funds (MFs) for April 2009. The net asset of the industry fell 0.25% to Rs 593,516 crore in April 2009 from Rs 595010 crore in April 2008. Net assets of Fund of Funds schemes was recorded at Rs 703.84 crore in April 2009.

MFs were net buyers of equities at Rs 38.60 crore in April 2009 compared with net sellers at Rs 115.50 crore in April 2008. While it had increased debt investments to Rs 26422.5 crore in April 2009 as compared with Rs 16438.20 crore in the April 2008.

Net assets of private and public sector mutual funds

Net asset size of private sector mutual funds was Rs 469,474 crore, a share of 79.10% in the total net asset size of the industry in April 2009.

Public sector mutual funds contributed about 20.90% to total net assets of the MF industry in April 2009. Net assets of the public sector mutual funds were at Rs 124,042 crore in April 2009.

Net asset size of UTI MF was worth Rs 58,335 crore, contributing 9.83% to total mutual fund assets in April 2009. Other public sector MFs contributed 11.07% with assets of Rs 65,707 crore during the same period.

Rise in mobilisation of MFs The fund mobilisation increased by 37.01% to Rs 708,481 crore in April 2009 from Rs 517106 crore in April 2008.

Private sector MF collection rose to Rs 538,754 crore in April 2009.

UTI MF collected Rs 69,465 crore, and others public sector MFs raised Rs 100,262 crore in April 2009. The public sector collectively mobilised Rs 169727 crore in April 2009.

MFs repurchase amount jumps 24.38% in April 2009

The repurchase amount of the industry was recorded at Rs 554289 crore in April 2009 from Rs 445626 crore in April 2008- a rise of 24.38%. The industry had an inflow of Rs 154,191 crore in April 2009 compared with net inflow of Rs 71480 crore in April 2008.

The redemption amount of private sector MFs was recorded at Rs 420,940 crore in April 2009. However, large amount of mobilisation of private sector MFs helped to net inflow of Rs 117,814 crore in April 2009.

UTI MF had witnessed repurchase amount of Rs 51,422 crore, while other public sector MFs at Rs 81,928 crore. The fund house recorded an inflow of Rs 18,044 crore and other public sector MFs had inflow of Rs 18,334 crore in April 2009. Overall public sector MFs had net inflow of Rs 36378 crore in April 2009.

Morgan Stanley MF Unveils Active Bond Fund - May 12, 2009

Morgan Stanley Mutual Fund has launched new fund offer (NFO) period of Morgan Stanley Active Bond Fund. The issue is opened for subscription from 12 May till 25 May 2009. It is an open-ended debt scheme. The face value of the new issue will be Rs 10 per unit. The scheme will reopen within 30 days from the closure of NFO period. Details of the Morgan Stanley Active Bond Fund.

Investment objective: The investment objective is to generate optimal returns through active management of the portfolio consisting of debt and money market securities.

Investment options: The scheme will offer two plans regular and institutional plus plan with growth & dividend options. Dividend option will further offer dividend payout and reinvestment facilities. Dividend options will be having quarterly frequencies.

Minimum application amount: The minimum application amount under regular plan is Rs 5,000 plus in multiples of Re 1 thereafter. Under institutional plus plan, the minimum application amount is Rs 50 lakh plus in multiples of Re 1 thereafter.

The scheme seeks to collect a minimum corpus of Rs 1 crore during NFO period.

Asset allocation: The scheme will invest up to 100% in debt and money market instruments with low to medium risk profile. Investment in debt instruments including securitised debt shall be up to 100% of the net assets.

The scheme may also invest in foreign debt instruments up to 30% of the net assets of the Scheme in accordance with guidelines prescribed by SEBI and RBI from time to time. The scheme shall not make investments in foreign securitised debt.

The scheme may invest in derivative up to 50% of the net assets of the scheme. The scheme may also invest in foreign debt instruments up to 30% of the net assets of the scheme. Not more than 20% of the net assets of the scheme can generally be deployed in securities lending and not more than 5% of the net assets of the scheme can generally be deployed in securities lending to any single counter party.

Load structure: The scheme will not levy any entry nor exit load during NFO.

On an ongoing basis the scheme will not levy entry load. Regular plan will charge exit load of 0.25% if redeemed within 3 months of allotment. While, institutional plus plan will not levy exit load.

Benchmark index: The performance of scheme shall be benchmarked against CRISIL Composite Bond Fund Index.

Fund Managers: Ritesh Jain will be the fund manager for the scheme. He will handle the fixed income investments. Sridhar Sivaram, and Amay Hattangadi will be the dedicated fund managers for investment in foreign securities.

Rating: ICRA has assigned the “Credit Risk Rating mfAAA” to Morgan Stanley Active Bond Fund which means that Morgan Stanley Active Bond Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest-credit-quality category. This rating should however, not be construed as an indication of the performance of the aforesaid Fund or of volatility in its returns.

ING Dividend Yield Fund More Than Mainly Of The Instant Period - May 12, 2009

Background: The ING Group established its presence in India in 1992, when it opened a representative office of the ING Bank. It opened its first branch in Mumbai in 1994. ING Group has promoted ING Investment Management (India) Private Limited as a company incorporated in India for the purpose of carrying on asset management activities. The group has a 75% holding in this company. The fund house manages assets worth Rs. 2353.08 crore at the end of April 2009.

ING Dividend Yield Fund (G) an open-ended equity scheme launched in September 2005. The objective of the scheme to provide long-term capital appreciation by investing in a diversified portfolio of high quality 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 10.76 as on 11 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 2.07 crore to Rs 18.30 crore in April 2009.

ING Dividend Yield Fund (G) took fresh exposure to two stocks in April 2009. It purchased 59956 units (2.24%) of Deepak Fertilizers & Petrochemicals Corporation and 30041 units (1.97%) of HEG in April 2009.

The scheme completely exited from Tata Power Company by selling 9300 units (4.40%) and Andhra Bank by selling 1.08 lakh units (3.02%), and Thermax by selling 25730 units (2.86%) among others in April 2009.

Sector-wise, the scheme took fresh exposure to Electrodes-Graphites at 1.97% among others in April 2009.

Sector-wise, the scheme exited completely from Engineering at 2.86%, Steel-Large at 2.26%, Automobiles-LCVs/HCVs at 2.12% and Finance-Housing at 1.80% among others in April 2009.

The scheme had highest exposure to Bharat Petroleum Corporation with 20020 units (4.24% of portfolio size) followed by Indian Oil Corporation with 17468 units (4.23%), Indraprastha Gas with 64946 units (4.15%) and Oil & Natural Gas Corporation with 7952 units (3.76%) among others in April 2009.

It reduced its exposure to Colgate-Palmolive (India) by selling 7494 units to 8006 units (by 2.42%), Power Finance Corporation by selling 9059 units to 18451 units (0.89%) and ICICI Bank by 4973 units to 9027 units (0.51%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Fertilizers at 11.14% (8.17% in March 2009), followed by Refineries at 8.47% (9.00%), Banks-Public Sector at 6.46% (8.27%), Personal Care-Multinational at 5.28% (5.96%) among others in April 2009.

Sector wise, the scheme had reduced exposure in Power Generation and Supply to 2.85% (by 2.66%), Banks-Public Sector to 6.46% (by 1.81%) and Finance-Term-Lending Institutions to 1.56% (by 0.89%) among others in April 2009.

Performance: The scheme underperformed the Sensex over most of the time periods.

Over three-month period ended as on 11 May 2009, the scheme posted returns of 16.45% underperforming the Sensex that posted returns of 21.46%. Over 6 month period, the scheme's returns surged 12.08% underperforming the Sensex that rose 18.73%.

The returns of the scheme over one year period fell 26.10% outperforming the Sensex that plunged by 30.20%.

ICICI Pru MF Changes Additional Claim And Sum Recovery - May 11, 2009

ICICI Prudential mutual fund has announced to change in the application amount and minimum redemption amount under ICICI Prudential Flexible Income Plan, with effect from 11 May 2009. Accordingly, the additional application amount and minimum redemption amount under Premium Option of the scheme will be Rs 1000 and in multiples of Re 1 thereafter.

ICICI Prudential Flexible Income Plan is an open ended income fund, with an investment objective of generating income through investments in a range of debt instruments and money market instruments of various maturities with a view to maximizing income while maintaining the optimum balance of yield, safety and liquidity.

ICICI Prudential Mutual Fund Has Declared For The Dividend - May 11, 2009

ICICI Prudential Mutual Fund has declared 15 May 2009 as the record date for the for declaration of dividend under the dividend option of ICICI Prudential Interval Fund-Quarterly Interval Plan-I. 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 recorded NAV of Rs 10.1561 per unit under retail option and Rs 10.1664 per unit under institutional option as on 7 May 2009.

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

HDFC Capital Fund More The Majority Of The Moment Period - May 11, 2009

Background: Housing Development Finance Corporation Limited (HDFC) and Standard Life Investment Ltd sponsor HDFC Assets Management Company Ltd. HDFC incorporated in 1977 as the first specialized housing finance institution in India. HDFC AMC was incorporated on 10 December 1999, and today manages assets worth Rs 63880.63 crore in April 2009.

HDFC Capital Builder Fund (G) an open-ended scheme launched in December 1993.

The investment objective of the scheme is to achieve long term capital appreciation by investing predominantly in equity oriented securities. The minimum investment amount is Rs 5000 and in multiples of Rs 1000 thereafter. The unit NAV of the scheme was 54.72 as on 08 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 46.49 crore to Rs 401.39 crore in April 2009.

HDFC Capital Builder Fund (G) took fresh exposure to three stocks in April 2009. The scheme has purchased 2.50 lakh units (2.04%) of Bank of Baroda, 6.00 lakh units (1.73%) of Punj Lloyd and 3.89 lakh units (1.57%) of Patni Computer Systems.

The scheme exited completely from Sintex Industries by selling 4.00 lakh units (1.10%) in April 2009.

Sector-wise, the scheme took fresh exposure in Construction at 1.73% in April 2009. Sector-wise, the scheme exited completely from Diversified-Large at 1.10% in April 2009.

The scheme had highest exposure to Hero Honda Motors with 2.31 lakh units (6.83% of portfolio size) followed by State Bank of India with 1.70 lakh units (5.42%), ICICI Bank with 4.50 lakh units (5.37%) and Reliance Industries with 1.00 lakh units (4.50%) among others in April 2009.

It reduced its exposure from Pidilite Industries by selling 9.00 lakh units to 5.20 lakh units (by 2.23%), SKF India by selling 1.33 lakh units to 2.75 lakh units (0.49%), Biocon to 8.20 lakh units (0.41%) and ITC to 8.00 lakh units (0.41%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Pharmaceuticals-Indian-Bulk Drugs & Formulation at 12.65% (from 12.84% in March 2009), followed by Banks-Private Sector at 8.15% (7.03%), Refineries at 7.63% (7.73%) and Banks-Public Sector at 7.46% (5.11%) among others in April 2009.

Sector wise, the scheme had reduced exposure from Chemicals to 1.16% (by 2.23%), Bearings to 1.23% (by 0.49%), Cigarettes to 3.76% (by 0.41%) and Pharmaceuticals-Indian-Bulk Drugs & Formulation to 12.65% (by 0.19%) among others in April 2009.

Performance: The scheme underperformed the Sensex over most of the time periods.

Over three-month period ended as on 08 May 2009, the scheme posted returns of 20.99% underperforming the Sensex that posted returns of 27.69%. Over 6 month period, the scheme's returns surged 9.97% underperforming the Sensex that rose 19.19%.

The returns of the scheme over one year period fell 29.81% outperforming the Sensex that plunged by 30.47%.

ICICI Prud MF Declares Surplus In Favor Of Two FMPs - May 09, 2009

ICICI Prudential Mutual Fund has approved 13 May 2009 as the record date to distribute dividend under the dividend option of ICICI Prudential Fixed Maturity Plan- Series 41-18 Months Plan and ICICI Prudential Fixed Maturity Plan- Series 39-18 Months Plan B. The fund house has decided to offer 100% of distributable surplus as dividend as on the record date for both FMPs on the face value of Rs 10 per unit.

ICICI Prudential Fixed Maturity Plan- Series 41-18 Months Plan recorded a NAV of Rs 11.2865 per unit under retail option and Rs 11.3709 per unit under institutional plan as on 6 May 2009.

NAV of ICICI Prudential Fixed Maturity Plan- Series 39-18 Months Plan B was at Rs 11.2216 per unit under retail option and Rs 11.2903 per unit under institutional plan as on 6 May 2009.

NAVs published only once a week i.e. every Wednesday.

DSP BR Equity Fund The Sensex Over Most Of The Time Periods - May 08, 2009

Background: DSP BlackRock Investment Managers Ltd. (the mutual fund) is a joint venture between DSP and Black Rock. Black Rock is a premier provider of global investment management services to institutional and retail clients around the world managing assets in excess of US$ 1.2. Erstwhile it was known as DSP Merrill lynch. The fund house manages assets worth Rs 15945.02 crore at end of April 2009.

DSP BR Equity Fund (G) is an open-ended growth scheme seeking to generate long-term capital appreciation, from a portfolio which is substantially constituted of equity and equity related securities of issuers domiciled India.

The scheme may also invest a certain portion of its corpus in debt and money market securities, in order to meet liquidity requirements from time to time. The minimum investment amount is Rs.5000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 8.86 per unit as on 7 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 90.18 crore to Rs 958.39 crore in April 2009.

DSP BlackRock Equity Fund (G) took fresh exposure to seventeen stocks in April 2009. The scheme has purchased 15.89 lakh units (2.30%) of Jaiprakash Associates, 72751 lakh units (1.88%) of Educomp Solutions, 9.20 lakh units (1.48%) of Power Finance Corporation and 6.17 lakh units (1.23%) of NTPC among others.

The scheme exited completely from Larsen & Toubro by selling 2.02 lakh units (1.57%), HDFC Bank by selling 1.10 lakh units (1.24%), Cairn India by selling 5.38 lakh units (1.14%) and Maruti Suzuki India by selling 1.06 lakh units (0.96%) in April 2009.

Sector-wise, the scheme took fresh exposure in Computers–Education at 1.88%, Finance-Term-Lending Institutions at 1.68%, Electric Equipment at 0.68% and Pumps at 0.52% among others in April 2009.

Sector-wise, the scheme exited completely from Engineering-Turnkey Services at 1.57%, Oil Drilling/Allied Services at 1.14%, Automobiles-Passenger Cars at 0.96% and Hotels at 0.55% in April 2009.

The scheme had highest exposure to Bharti Airtel with 6.86 lakh units (5.36% of portfolio size) followed by Infosys Technologies with 3.08 lakh units (4.86%), Glaxosmithkline Pharma with 3.67 lakh units (4.50%) and State Bank of India with 2.82 lakh units (3.77%) among others in April 2009.

It reduced its exposure from Hindustan Unilever by selling 11.11 lakh units to 7.15 lakh units (by 3.25%), Hindustan Petroleum Corporation by selling 3.45 lakh units to 4.43 lakh units (1.18%), Tata Consultancy Services by selling 1.63 lakh units to 3.26 lakh units (0.91%) and Balrampur Chini Mills by selling 9.76 lakh units to 5.81 lakh units (0.53%) among others in April 2009.

Sector-wise, the scheme had highest exposure to Computers-Software–Large at 8.59% (from 8.22% in March 2009), followed by Refineries at 7.61% (9.38%), Food-Processing–MNC at 6.14% (6.36%) and Telecommunications-Service Provider at 5.90% (5.37%) among others in April 2009.

Sector wise, the scheme had reduced exposure from Personal Care–Multinational to 1.75% (by 3.25%), Refineries to 7.61% (by 1.77%), Textiles–Products to 0.86% (by 0.74%) and Entertainment/Electronic Media Software to 1.15% (by 0.57%) among others in April 2009.

Performance: The scheme underperformed the Sensex over most of the time periods.

Over three-month period ended as on 7 May 2009, the scheme posted returns of 18.72% underperforming the Sensex, which posted returns of 30.28%. Over 6 months period, the scheme posted returns of 13.41% underperforming the Sensex, which gained 21.60%.

Over 1 year period, the scheme posted negative returns of 27.54% outperforming the Sensex that fell 30.12%.

Quantum MF Announces Changes In Key Personnel - May 08, 2009

Quantum Mutual Fund has announced the change in the key personnel. Chirag Mehta has been appointed as the fund manager of Quantum Gold Fund in place of Arvind Chari, with effect from 01 May 2009. Chirag Mehta, aged 28 years, is a MMS (Finance) and M.Com from Mumbai University and has more than 5 years of experience in financial services industry.

Currently, he is the fund manager-Commodities at Quantum Asset Management. He joined Quantum AMC in 2007 as Associate Fund Manager-Commodities and was elevated as the fund manger-commodities in 2009. Prior to joining Quantum AMC, also undergone training in commodities at Kotak and Federation of India Commodities Exchange as part of his internship.

UTI MF Declares Payment Used For Set Income Monthly Plan - May 08, 2009

UTI Mutual Fund has declared dividend under dividend option of UTI Fixed Income Interval Fund - Monthly Interval Plan II. The record date for the declaration of dividend is 13 May 2009.

The quantum of dividend will be 100 per cent of distributable surplus available on the record date on face value of Rs 10 per unit. The NAV for retail plan was at Rs 10.0159 per unit as on 5 May 2009.

The sepcified transaction period will be 13 May 2009. The scheme do not ask entry load and exit load if redeemed during specified transaction period. While 0.50 per cent of applicable NAV will be charged as exit load if redeemed at any time other than specified transaction period. Specified transaction period shall be generally open for 1 day for subscription/redemption/switch out/switch -in without any load, every month after expiry of 1 month from the date of allotment.

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

Baroda Pioneer PSU Bond Fund Files Documents With Sebi - May 06, 2009

Baroda Pioneer Mutual Fund has filed offer document with Securities and Exchange Board of India (Sebi) to launch Baroda Pioneer Public Sector Undertaking (PSU) Bond Fund. It is an open-ended debt fund. The face value of the new issues will be Rs 10 per unit.

The investment objective of the PSU Plan is to generate stable returns with lower risk by investing in fixed income instruments of Public Sector Undertakings (PSUs)–banks, financial institutions, & companies.

The scheme offers two plans i.e. retail plan and institutional plan. Growth and dividend sub options will be available under the both the plans. Dividend payout and reinvestment facilities will be available under dividend option. In dividend option, there will be monthly dividend option and quarterly dividend option.

The minimum investment amount is under retail plan is Rs 5000 and in multiples of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 25 lakh and in multiples of Re 1 thereafter.

The scheme seeks to collect a minimum corpus of Rs 1 crore during NFO period. The scheme will invest its entire corpus in debt & debt related instruments with daily call/put option of PSUs with low to medium risk. Investments in money market instruments issued by PSUs shall be up to 100% of assets with low to sovereign risk.

The fund will invest up to 100% in treasury bills/government securities created and issued by the Central Government and/or State Government(s) and/or other similar instruments, as may be permitted from time to time. Sovereign risk in case of securities of Central Government/low risk in case of securities of State Government. There will be up to 100% exposure in repo and CBLO.

The scheme may invest in securitized debt up to 25% of its net assets. No investment will be made in foreign securitised debt. The scheme will invest in debt derivative up to 50% of the net assets of the scheme.

The scheme will not charge any entry load. For retail plan, the scheme will charge 1.00% exit load for the units redeemed up to 6 months. 0.50% will be the exit load if redeemed up to the expiry of 1 year. Institutional plan will charge 0.50% exit load if redeemed up to the expiry of 6 months.

The benchmark index for the scheme would be Crisil Bond Fund Index. Alok Sahoo and Hetal Shah will manage the investments under the scheme.

Canara Robeco Mutual Fund Launches Dynamic Bond Fund - May 06, 2009

Canara Robeco Mutual Fund has launched Canara Robeco Dynamic Bond Fund, an open-ended debt Fund. The new issue will be open for subscription from 4 May to 20 May 2009. The NFO price for the fund is Rs 10 per unit. Fund re-opens for continuous sale & repurchase within 30 days from the closing of NFO.

The investment objective of the Fund is to seek to generate income from a portfolio of debt and money market securities.

The scheme offers two plans viz. retail and institutional plan with growth, growth option will have automatic repurchase option. The dividend option further offers dividend payout and dividend reinvestment facility.

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

The scheme seeks to collect a minimum corpus of Rs 10 crore during NFO period.

The scheme will invest upto 70% in government of India and corporate debt securities including securitised debt and excluding Debt/GOI securities with initial maturity of less than one year and Treasury bills. And it will invest upto 30%-100% in money market instruments.

Investment by the fund in securitised debt will not normally exceed 50% of the net assets at the time of investment. Investment by the fund in derivative instruments may be done for hedging and portfolio balancing up to 30% of the net assets at the time of investment.

The scheme will not charge any entry load. The scheme will charge 0.50% of exit load for the retail plan for redemption within 6 months from the date of allotment for investments less than Rs 50 lakh and nil for investments equal to Rs 50 lakh or more. It will not charge any exit load for the institutional plan.

The performance of the scheme is being benchmarked to the performance of Crisil Composite Bond Fund Index. Ritesh Jain will be the fund manager for the scheme.

UTI Equity Fund Under Performs The Beyond The Majority Period - May 06, 2009

Background: UTI Mutual Fund is managed by UTI Assets Management Company Private Limited has come into existence with effect from 1st Feb.2003 who has been appointed by the UTI Trustee Company Pvt. Ltd. for managing the scheme of UTI Mutual and the scheme transferred from UTI Mutual Fund. Three leading public sector banks-Bank of Baroda, Punjab National Bank and life Insurance Corporation of India are sponsors of the UTI Mutual Fund. The fund house manages assets worth Rs 54489.99crore at the end of April 2009.

UTI Equity Fund (G) is an open-ended scheme launched in April 1992, with an objective of investing at least 80% of its funds in equity and equity related instrument with medium to high risk profile and up to 20% in debt and money market instruments with low to medium risk profile. The minimum investment amount is Rs 5000 and in multiples of Rs 1000 thereafter. The unit NAV of the scheme was Rs 30.46 as on 05 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 68.82 crore to Rs 1121.19 crore in March 2009.

UTI Equity Fund (G) took no fresh exposure to any stocks in March 2009.

The scheme exited completely from Reliance Communication at 0.27%, Infrastructure Development Finance Company at 0.18%, Nava Bharat Ventures at 0.17% and Canara Bank at 0.03% in March 2009.

Sector-wise, the scheme took no fresh exposure in March 2009.

Sector-wise, the scheme exited completely from Diversified - Medium / Small at 0.17% in March 2009.

The scheme had highest exposure to Nestle India with 3.33 lakh units (4.63% of Portfolio) followed by ITC with 24.31 lakh units (4.01%), State Bank of India with 3.64 lakh units (3.47%) and Hero Honda Motors with 3.21 lakh units (3.08%) among others in March 2009.

It reduced its exposure to Housing Development Finance Corporation by selling 92000 units to 83080 units (by 1.07%), Nestle India by selling 49774 units to 3.33 lakh units (by 0.81%), State Bank of India by selling 70223 units to 3.64 lakh units (by 0.76%) and Bosch by selling 15000 units to 70977 units (by 0.55%) among others in March 2009.

Sector-wise, the scheme had highest exposure to Banks - Private Sector at 7.66% (7.90% in February 2009), followed by Food - Processing – MNC at 7.34% (7.98%), Banks - Public Sector at 4.87% (5.50%) and Cigarettes at 4.01% (4.23%) among others in March 2009.

Sector wise, the scheme had reduced exposure in Finance – Housing to 1.52% (by 1.05%), Food - Processing – MNC to 7.34% (by 0.64%), Banks - Public Sector to 4.87% (by 0.63%) and Auto Ancillaries to 1.95% (by 0.55%) among others in March 2009.

Performance: The scheme underperformed the Sensex over most of the time periods.

Over three-month period ended as on 05 May 2009, the scheme posted returns of 21.40% underperforming the Sensex that posted returns of 33.44%. Over 6 month period, the scheme's returns surge by 12.73% underperforming the Sensex that rose 19.87%.

The returns of the scheme over one year period fell 25.82% outperforming the Sensex that plunged by 30.64%.

Reliance Vision Fund The Sensex For The Most Part Of Instant Period - May 05, 2009

Background: Reliance Capital Limited is the sponsor of Reliance Capital Assets Management Ltd set up in June 1995. Reliance Capital Ltd. is a member of the Reliance Group and has been promoted by Reliance Industries Limited (RIL), one of India's largest private sector enterprises. The fund house manages assets worth Rs 88387.99 crore at end of April 2009.

Reliance Vision Fund (G) an open-ended equity scheme launched in September 1995.

The primary investment objective of the scheme is to achieve long-term growth of capital by investment in equity & equity related securities through a research based investment approach. The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 158.70 per unit as on 04 May 2009.

Portfolio: The total net assets of the scheme increased by Rs 118.16 crore to Rs 2399.02 crore in March 2009.

Reliance Vision Fund (G) took fresh exposure to six stocks in March 2009. The scheme has purchased 29.13 lakh units (2.19%) of Tata Motors, 7.31 lakh units (1.98%) of United Spirits and 7.00 lakh units (1.81%) of Financial Technologies (India) among others.

The scheme did not exit completely from any stocks in March 2009.

Sector-wise, the scheme took fresh exposure to Automobiles-LCVs/HCVs at 2.19%, Breweries & Distilleries at 1.98%, and Computers-Software-Medium/Small at 1.81% among others in the March 2009.

Sector-wise, the scheme did not exit completely from any sectors in March 2009.

The scheme had highest exposure to Reliance Industries with 10.01 lakh units (6.36% of Portfolio) followed by Divis Laboratories with 14.33 lakh units (5.70%), State Bank of India with 10.75 lakh units (4.78%) and Infosys Technologies with 7.99 lakh units (4.41%) among others in March 2009.

It reduced its exposure to Maruti Suzuki India by selling 3.63 lakh units to 11.11 lakh units (by 0.79%), Hindustan Unilever by selling 10849 units to 39.88 lakh units (by 0.49%), Alstom Projects India by selling 24129 units to 18.54 lakh units (by 0.42%) and Tata Steel by selling 7.53 lakh units to 18.40 lakh units (by 0.38%) among others in March 2009.

Sector-wise, the scheme had highest exposure to Computers-Software–Large at 8.18% (7.44% in February 2009), followed by Refineries at 6.36% (5.55%), Pharmaceuticals-Indian-Bulk Drugs at 5.70% (5.47%) and Banks-Public Sector at 4.78% (4.83%) among others in March 2009.

Sector wise, the scheme had reduced exposure in Automobiles-Passenger Cars to 3.59% (by 0.79%), Personal Care–Multinational to 3.96% (by 0.49%), Electric Equipment to 2.15% (by 0.42%) and Steel–Large to 1.58% (by 0.38%) among others in March 2009.

Performance: The scheme underperformed the sensex over most of the time periods.

Over three-month period ended as on 04 May 2009, the scheme posted returns of 24.48% underperforming the Sensex that posted returns of 31.87%. Over 6 month period, the scheme's returns surge by 11.74% underperforming the Sensex that rose 14.14%.

The returns of the scheme over one year period fell 29.56% outperforming the Sensex that plunged by 31.05%.

MF AUM Rose By Means Of 11.76 Per Cent In Apr 09 - May 05, 2009

Mutual fund industry registered rise in Average Asset Under management (AUM) in April 2009. The AUM of the industry has increased by 11.76% (Rs 58013.38 crore) to Rs 5.51 lakh crore in April 2009 compared with Rs 4.93 lakh crore in March 2009. AUM of funds of funds (FoFs) stood with Rs 706.29 crore in April 2009.

The increase in AUM is due to huge inflow in liquid funds, where banks and corporates invest heavily and also due to the recent recovery in equity market. According to the data released by RBI, banks had an outstanding investment of over Rs 85,000 crore in MFs as on 10 April 2009 against Rs 45,134 crore as on 27 March 2009.

The corresponding figures for the past year stood at Rs 50,950 crore and Rs 18,692 crore, respectively.

Out of 35 fund houses posted the Average AUM, 31 fund houses has recorded inflow and remaining 4 fund houses posted - outflow in April 2009. Baroda Pioneer MF has reported the impressive rise of 66.25% in April 2009 compared with March 2009.

All the top three funds recorded an inflow in April 2009. Reliance Mutual fund continued to be in the first position with AUM of Rs 88387.99 crore in April 2009 and its AUM has gained by 9.17% in April 2009 over March 2009. HDFC MF retained its second position with the average AUM of Rs 63880.63 crore a rise of 10.22% compared with the month of March 09 and ICICI Mutual Fund stood with an AUM of Rs 56049.28 crore and it rose by 8.98% in April 2009 over March 2009.

The other top mutual funds, in terms of AUM, UTI MF rose 11.76% to Rs 54489.99 crore in April 2009. Birla Sun Life MF has increased by Rs 4733.04 crore (10.05%) to Rs 51829.27 crore in its AUM and SBI MF also registered an impressive rise of 17.03% to Rs 30875.02 crore in April 2009 over March 2009.

Reliance MF registered the highest inflow in AUM of Rs 7425.05 crore, while HSBC MF recorded the outflow of Rs 253.91 crore, it was down by 2.65% in April 2009 over March 2009.

In the category of fund houses maintaining AUM between Rs 10000 -20000 crore, Sundaram BNP Paribas Mutual Fund surged by 20.45% to Rs 11161.77 crore in the month of April 2009 over March 2009. Deutsche Mutual Fund has gone up by 18.77% to Rs 11110.79 crore in April 2009.

In the category of MFs maintaining AUM between Rs 10000 - 1000 crore, Baroda Pioneer MF went up by 66.25% to Rs 1882.01 crore and DBS Chola has risen by 57.44% to Rs 1611.40 crore in April

2009 over March 2009, while ING MF was down by 6.95% to Rs 2353.08 crore and HSBC down by 2.65% to Rs 9321.28 crore.

The fund houses with relatively smaller corpus having AUM less than Rs 1000 crore has registered rise in their AUM, except Edelweiss and Benchmark MF. Taurus MF was up by 65.49% to Rs 344.82 crore and Sahara MF went up by 27.34% to Rs 185.82 crore, While Edelweiss registered a fall of 34.63% to Rs 14.57 crore in April 2009 and Benchmark MF's AUM declined by 12.11% to Rs 939.11 crore in April 2009 compared with March 2009.

IDFC MF Introduces The New Investment Plan - May 05, 2009

IDFC Mutual Fund has introduced the new investment plan namely Plan D in IDFC Money Manager Fund–Treasury Plan (IDFC-MMF-TP). This plan is available for subscription effective from 6 May 2009 and it will have the same investment objective, asset allocation pattern, investment portfolio, benchmark, applicable NAV etc., as the existing plans.

Minimum application amount: The minimum application amount of the scheme is Rs 25000 and in multiples of Re 1 thereafter.

Load Structure: The scheme will not charge any entry load. However, it will charge 1.00% of exit load, in case of redemption/switch-outs to any debt/liquid schemes of IDFC Mutual Fund (including IDFC–Tax Advantage (ELSS) Fund) within 1 year such from the date of effecting such purchase/switch in.

Navin Suri Designated As CEO Of ING MF Operations In India - May 04, 2009

ING Investment Management Asia/Pacific (ING IM) has appointed Navin Suri as CEO of its Indian investment management operations with effect from 4 May 2009. Prior to joining ING IM India in August 2008 as Vice President and Director, Sales & Distribution, Navin was based at Singapore with Citi where he held several key responsibilities.

As Head of Sales for Investment Products for Asia Pacific (2004-06) and subsequently as Asia Pacific Head of Sales & Distribution for its retail banking business, Navin has worked with and influenced performance of over 3000 sales professionals spread over 450 distribution points in 13 countries in Asia.

Apart from his extensive Asian experience, Navin has lived and worked in several cities in India since joining Citi at Mumbai in '91. He is credited with launching and developing businesses around India during his stint here. He holds a masters degree in Business Management from Mumbai University.

Principal Large Cap Fund Every The Instant Period - May 04, 2009

Background: Principal PNB Asset Management Company (In Association with Vijaya Bank) Pvt. Ltd. is a joint venture between the Principal Financial Group-a Fortune 500 company, Punjab National Bank and Vijaya Bank. It has started the operation in India on September 2000. The fund house manages assets worth Rs 6756.87 crore at end of March 2009.

Principal Large Cap Fund (G) an open-ended equity scheme launched in September 2005. The Investment Objective of the scheme would be to provide capital appreciation and/or dividend distribution by predominantly investing in companies having a large market capitalization. The minimum investment amount is Rs.5000 and in multiples of Rs 500 thereafter. The unit NAV of the scheme was Rs 14.93 per unit as on 29 April 2009.

Portfolio: The total net assets of the scheme increased by Rs 22.67 crore to Rs 263.83 crore in March 2009.

Principal Large Cap Fund (G) took fresh exposure to two stocks in March 2009. The scheme has purchased 3.99 lakh units (3.33%) of Bank of India, 1.99 lakh units (1.36%) of NTPC.

The scheme exited completely from Container Corporation of India by selling 1.06 units (2.80%), Kotak Mahindra Bank by selling 1.49 lakh units (1.61%), Wipro by selling 1.00 lakh units (0.86%) and ABG Shipyard by selling 1.24 lakh units (0.43%) in March 2009.

Sector-wise, the scheme took fresh exposure to Power Generation and Supply at 1.36% in the March 2009.

Sector-wise, the scheme did not exit completely from any sector in March 2009.

The scheme had highest exposure to Reliance Industries with 1.55 lakh units (8.96% of Portfolio) followed by State Bank of India with 1.50 lakh units (6.07%), Bharti Airtel with 2.25 lakh units (5.34%) and Dabur India with 11.06 units (4.14%) among others in March 2009.

It reduced its exposure to Cipla by selling 2.00 lakh units to 2.00 lakh units (by 1.51%), HDFC Bank by selling 29975 units to 20172 units (by 1.10%), Sterlite Industries (India) by selling 1.49 lakh units to 1.50 lakh units (by 1.02%) and Bharat Heavy Electricals by selling 15086 units to 30165 units (by 0.90%) among others in March 2009.

Sector-wise, the scheme had highest exposure to Banks-Public Sector at 15.66% (10.02% in February 2009), Refineries followed by at 10.38% (10.75%), Personal Care–Indian at 7.68% (8.24%) and Computers-Software–Large at 6.17% (7.58%) among others in March 2009.

Sector wise, the scheme had reduced exposure in Banks-Private Sector to 4.59% (by 3.00%), Pharmaceuticals-Indian-Bulk Drugs & Formulation to 1.67% (by 1.51%), Computers-Software–Large to 6.17% (by 1.41%) and Mining/Minerals/Metals to 2.97% (by 1.02%) among others in March 2009.

Performance: The scheme outperformed the Sensex over all the time periods.

Over three-months period ended as on 29 April 2009, the scheme posted returns of 25.15% outperforming the Sensex that posted returns of 24.64%. Over 6 months period, the scheme's returns surged 17.19% outperforming the Sensex that rose 10.31%.

The returns of the scheme over one year period fell 33.61% outperforming the Sensex that plunged by 35.21%.

Edelweiss Mutual Fund Launches Edelweiss Diversified Growth Equity - May 04, 2009

Edelweiss Mutual Fund has launched Edelweiss Diversified Growth Equity (E.D.G.E.) Fund. It is an open ended equity scheme. The new issue will be open for subscription from 4 May to 8 May 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 21 May 2009.

The primary objective of the Fund is to generate long term capital growth from a diversified portfolio, investing predominantly in equity and equity related securities.

Investment Options: The Scheme will have three Plans i.e. Plan A, Plan B, Plan C with common portfolio & will have dividend and growth option. Dividend option shall have reinvestment, payout & sweep facility.

Minimum Application amount: The minimum investment amount under Plan A is Rs 1000 and in multiples of Re 1 thereafter. The minimum investment amount under Plan B is Rs 25000 and in multiples of Re 1 thereafter. For Plan C, the minimum application amount is Rs 10000 and in multiples of Re 1 thereafter.

The minimum target amount to be raised is Rs 10 lakh during its NFO.

Asset allocation: The scheme will invest 65-10% of corpus in equity and equity related instruments with medium to high-risk profile. It will have investment exposure up to 35% in debt & money market instrument with low to medium risk.

Money Market Instruments include CPs, Commercial Bills, Corporate Debt, T-Bills, and Government securities having an unexpired maturity up to one year, CDs, usance bills, CBLOs, Repo/Reverse Repo and any other like instruments having a maturity of 1 year or less, as specified by the RBI from time to time.

The investments in securitised papers including Pass through Certificates (PTCs) may be made up to 35% of the net assets of the Scheme. The Scheme can also take derivative exposure up to 50 % of the net assets of the Scheme. The Scheme may engage in Stock Lending. Not more than 25% of the net assets of the Scheme can generally be deployed in stock lending and not more than 5% of the net assets of the Scheme will be deployed in Stock lending to any single counterparty. The Scheme may invest in Foreign Securities up to 35% of the Permissible Investments of net assets of the Scheme..

Entry Load: The Plan A charges 2.25% as an entry load for Plan A while no entry load will be charged under Plan B and Plan C.

For Plan A: The scheme will charge 1.50% of exit load if redemption done up to 180 days, 1.00% for redemptions done from 181 days up to 365 days while no exit load will be charged for redemption done after 366 days.

For Plan B: The scheme will charge 1.50% of exit load if redemption done up to 90 days, 1.00% for redemptions done from 91 days up to 365 days while no exit load will be charged for redemption done after 366 days.

For Plan C: The scheme will charge 2.00% of exit load if redemption done up to 180 days, 1.50% for redemptions done from 181 days up to 365 days, 1.00% for exit done from 366 days up to 545 days. The fund will charge exit load of 0.50% if redemptions done from 546 days up to 730 days while no exit load will be charged for redemption done after 731 days.

Benchmark index: The scheme performance will be benchmarked against BSE 500.

Fund manager: Tarbir Shahpuri will be the fund manager for the scheme.

ICICI Prudential MF Declares Share In Distance Account - May 02, 2009

ICICI Prudential Mutual Fund has announced 7 May 2009 as the record date for declaration of dividend in the dividend option of ICICI Prudential Interval Fund-Half Yearly Interval Plan-II. The fund house has decided to distribute100% of distributable surplus as dividend on the face value of Rs 10 per unit on the record date.

The scheme recorded NAV of Rs 10.5366 per unit as on 28 April 2009 in retail plan.

ICICI Prudential Interval Fund-Half Yearly Interval Plan-II (IPIF HY II) is a debt oriented interval scheme. The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

Kotak Mahindra Mutual Fund Has Announced The Record Date - May 02, 2009

Kotak Mahindra Mutual Fund has announced 6 May 2009 as the record date for declaration of dividend in the dividend option of Kotak FMP 12M Series 5. The fund house has decided to distribute upto 100% of distributable surplus as dividend on the face value of Rs 10 per unit on the record date.

The scheme recorded NAV of Rs 10.4049 per unit as on 28 April 2009.

Kotak FMP 12M Series 5 is a close ended debt scheme. The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.

Birla Sun Life Mutual Fund Declares Payment - May 02, 2009

Birla Sun Life Mutual Fund has announced 5 May 2009 as the record date for declaration of dividend in the dividend option of retail and institutional plan of Birla Sun Life Fixed term Plan-Series AL. The fund house has decided to distribute 100% distributable surplus as dividend on the face value of Rs 10 per unit on the record date.

The scheme recorded NAV of Rs 10.8667 per unit in retail plan and Rs 10.9087 per unit under institutional plan as on 28 April 2009.

Birla Sun Life Fixed term Plan-Series AL is a close ended income scheme. The investment objective of the scheme is to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme.