Taurus Mutual Fund Improve Consignment Composition - July 31, 2009

Taurus MF Mutual Fund has decided to revise the entry as well as exit load structure of all the schemes of the fund house effective from August 1, 2009. Accordingly, there will be no entry load charged for purchase/additional purchase/switch-in accepted by the fund. Similarly, there will be no entry load charged with respect to applications for registrations under systematic investment plans/systematic transfer plans accepted by the fund.

The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor's assessment of various factors including services rendered by the ARN Holder.

However, there will be no exit load up to 1% of the redemption value changed to the unit holder by the fund on redemption of units shall be retained by each of the schemes/plans in a separate account and will be utilized for commissions' payment to the ARN holders and meet other marketing as well as selling expenses.

Fortis Mutual Fund Revises Load Structure - July 31, 2009

Fortis MF Mutual fund has decided to revise the entry as well as exit load structure of all the schemes of the fund house effective from August 1, 2009. Accordingly, there will be no entry load for purchase/additional purchase/switch-in accepted by the fund.

Similarly, there will be no entry load charged with respect to applications for registrations under systematic investment plans/systematic transfer plans accepted by the fund.

The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor's assessment of various factors.

However, there will be an exit load up to 1% of the redemption value changed to the unit holder by the fund on units' redemption shall be retained by each of the schemes/plans in a separate account and will be utilized for commissions' payment to the ARN holders and meet other marketing as well as selling expenses.

JM Equity Fund Outperforms The Over Three Months Time Period - July 31, 2009

Background: JM Financial Mutual Fund is one of India's first private sector mutual funds-an, integral parts of the first wave that commenced operations in 1993-94. JM Financial Asset Management Private Limited, the Asset Management Company of JM Financial Mutual Fund, is not a part of this joint venture.

Sponsored by J.M. Financial and Investment Consultancy Services Pvt. Ltd., and co-sponsored by JM Financial Limited. JM Financial Asset Management Private Limited started operations in December 1994 with a simultaneous launch of three funds- JM Liquid Fund (now JM Income Fund), JM Equity Fund, and JM balanced Fund.

Today, JM Financial Mutual Fund offers a bouquet of funds that caters to the diverse needs of both its institutional and individual investors.

The fund house manages assets worth Rs 7770.86 crore at the end of June 2009. JM Equity Fund (G) an open-ended equity scheme launched in December 1994.

The objective of the scheme is to provide Optimum Capital growth and appreciation. The minimum investment amount is Rs.1000 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 32.86 per unit as on 30 July 2009.

Portfolio: The total net assets of the scheme decreased by Rs 1.11 crore to Rs 51.81 crore in June 2009.

JM Equity Fund (G) took fresh exposure to one stock in June 2009. The scheme has purchased 70186 units (2.58%) of ITC.

The scheme exited completely from Punjab National Bank by selling 23672 units (3.00%) and GVK Power & Infrastructure by selling 3.01 lakh units (2.60%) in June 2009.

Sector-wise, the scheme took fresh exposure to Cigarattes at 2.58% in June 2009. Sector-wise, the scheme did not exit completely from any sector in June 2009.

The scheme had highest exposure to Reliance Infrastructure with 34352 units (10.72% of portfolio size) followed by IVRCL Infrastructure & Projects with 1.08 lakh units (7.21%), Bharti Airtel with 34751 units (5.38%) and Bombay Rayon Fashions with 1.49 lakh units (5.33%) among others in June 2009.

It reduced its exposure from State Bank of India by selling 12481 units to 12520 units (by 4.62%), Canara Bank by selling 49957 units to 49944 units (2.83%), Bombay Rayon Fashions by selling 346 units to 1.49 lakh units (1.08%) and Reliance Infrastructure to 34352 units (0.32%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Telecommunications-Service Provider at 13.39% (from 12.75% in May 2009), followed by Power Generation & Supply at 10.87% (13.87%), Banks-Public Sector at 9.60% (20.26%) and Sugar at 8.14% (7.48%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Banks-Public Sector to 9.60% (by 10.66%), Power Generation and Supply to 10.87% (by 3.00%), Textiles-Products to 5.33% (by 1.08%) and Oil Drilling/Allied Services to 3.71% (by 0.27%) among others in June 2009.

Performance: The performance of scheme is benchmarked against BSE Sensex. The scheme has outperformed the benchmark index over three months and six months time period, it underperformed the benchmark index over one month and 1 year time period.

The scheme has posted returns of 3.72% underperformed the BSE Sensex that increased by 6.17% over 1 month period ended 30 July 2009.

Over 3 months period, the scheme advanced by 40.33% outperformed the BSE Sensex that gained 39.64%. It fell by 3.92% underperformed the benchmark index that was up by 7.70% over 1 year period.

Bharti AXA Mutual Fund Improve Consignment Structure - July 30, 2009

Bharti AXA Mutual fund has decided to revise the entry as well as exit load structure of all the schemes of the fund house effective from August 1, 2009. Accordingly, there will be no entry load to be charged for purchase/additional purchase/switch-in accepted by the fund. Similarly, there will be no entry load with respect to applications for registrations under systematic investment plans/systematic transfer plans accepted by the fund.

The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor's assessment of various factors including services rendered by the ARN Holder.

However, the scheme will charge an exit load up to 1% of the redemption value changed to the unit holder by the fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for commissions' payment to the ARN holders and meet other marketing as well as selling expenses.

Religare Mutual Fund In SIP Upto Exempts From PAN - July 30, 2009

Religare Mutual Funds has announced that Systematic investment plan (SIP) up to Rs 50000 exempted from Permanent Account Number (PAN) requirement. In accordance with Association of Mutual Fund in India (Amfi) letter dates 14 July 2009 specifying guidelines for uniform implementation of Securities and Exchange Board of India (Sebi) letter dated 19 June 2009 on exemption of PAN for SIPs up to Rs 50000 per year per investor.

Exemption for Micro SIPs from the requirements of PAN: Micro SIPs registered with the mutual fund shall be exempt from the requirements of PAN subject to following terms and conditions:

Micro SIPs means Systematic Investment Plans (SIPs) where aggregate of installments in a rolling 12 months period or in a financial year i.e. April to March does not exceed Rs 50000.

The exemption will not be applicable to normal purchase transaction up to Rs 50000 which will continue to be subject to PAN requirement.

The exemption will be applicable only to investments by individuals, minors and sole proprietary firms. HUFs and other categories of investors will not be eligible for Micro SIPs.

Fortis Equity Fund Underperforms Over Most Of The Time Periods - July 30, 2009

Background: Fortis Investments is the autonomous global asset management arm of the Fortis group. Fortis Investments is a top-tier asset management company with a truly global footprint. Fortis Investment Management (India) Private Limited aim is to offer a wide range of investment products, designed to cater to varied investment needs of different categories of investors in India, which was formerly known as ABN Amro Asset Management (Asia) Ltd. The fund house managed assets worth Rs 8027.68 crore at end of June 2009.

Fortis Equity Fund (G) is an open-ended equity scheme launched in August 2004. The objective of the scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities.

The scheme will invest in a range of companies, with a bias towards large and medium market capitalization companies.

The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 27.95 per unit as on 29 July 2009.

Portfolio: The total net assets of the scheme decreased by Rs 3.02 crore to Rs 104.81 crore in June 2009.

Fortis Equity Fund (G) took fresh exposure to three stocks in June 2009. The scheme has purchased 40516 units (1.38%) of Lanco Infratech, 74958 units (1.20%) of Reliance Power and 14142 units (1.04%) of ACC.

The scheme exited completely from Asian Paints by selling 2220 units (0.22%) in June 2009.

Sector-wise, the scheme took fresh exposures in Engineering at 1.38%. Sector-wise, the scheme exits completely from Paints/Varnishes at 0.22% in June 2009.

The scheme had highest exposure to Reliance Industries with 38392 units (7.41% of portfolio size) followed by Bharti Airtel with 75004 units (5.74%), ONGC with 45008 units (4.58%) and NTPC with 2.10 lakh units (3.91%) among others in June 2009.

It reduced its exposure from NTPC by selling 89928 units to 2.10 lakh units (by 2.08%), State Bank of India by selling 8968 units to 15028 units (1.66%), Reliance Petroleum by selling 46763 units to 2.54 lakh units (0.96%) and Reliance Industries by selling 512 units to 38392 units (0.81%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Refineries at 14.23% (from 16.34% in May 2009), followed by Computers-Software-Large at 9.69% (8.04%), Telecommunications-Service Providers at 8.76% (9.50%) and Power Generation & Supply at 8.03% (8.80%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Refineries to 14.23% (by 2.10%), Banks-Public Sector to 4.99% (by 1.32%), Power Generation & Supply to 8.03% (by 0.77%) and Telecommunications-Service Provider to 8.76% (by 0.74%) among others in June 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 3.33% outperformed the S&P CNX Nifty that gained 2.79% over 1 month period ended 29 July 2009.

Over 3 months period, the scheme advanced by 27.57% underperforming the benchmark index that gained 29.92%. It rose 6.23% less than the benchmark index that advanced by 7.72% over 1 year period.

Sahara Midcap Fund Outperforms The Over Most Of The Time Period - July 29, 2009

Background: Sahara Asset Management Company Private Ltd. is a wholly owned by subsidiary of Sahara India Financial Corporation Limited, (SIFCL) is the flagship company of Sahara India Group. Incorporated in 1987, SIFCL is the First Residuary Non-Banking Company (RNBC) in India that has been granted certificate of registration by RBI and is considered to be a leading public deposit mobilization company in the Private sector.

The Sahara India Group has over the years emerged as a multi-service and multi-product business conglomerate with diverse interests in fields such as Aviation, Life Insurance, Parabanking, Housing, Infrastructure & Tourism, Consumer Products, and Media & Entertainment.

The fund house manages assets worth Rs 212.54 crore at the end of June 2009. Sahara Midcap Fund (G) an open-ended equity diversified scheme launched in November.

The scheme aims to achieve long term capital growth at medium level of risks by investing primarily in mid-cap stocks.

The investment manager will have the discretion to invest upto 100% of the assets in the portfolio in equity market/ equity related instruments at a given point of time.

The AMC may choose to actively thread on the portfolio of the fund in order to achieve the investment objective.

The minimum investment amount is Rs 1000 and in multiples of Rs 1000 thereafter. The unit NAV of the scheme was Rs 22.41 as on 28 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 0.27 crore to Rs 8.22 crore in June 2009.

Sahara Midcap Fund (G) took fresh exposure to seven stocks in June 2009. The scheme has purchased 42445 units (2.49%) of Gujarat State Petronet, 15050 units (2.47%) of Indraprastha Gas, 13487 units (2.34%) of United Phosphorus and 5774 units (2.1%) of Hindustan Petroleum Corporation among others.

The scheme exited completely from Rashtriya Chemicals & Fertilizers by selling 27093 units (2.42%), Mercator Line by selling 28091 units (2.24%), India Infoline by selling 10006 units (1.91%) and Marico by selling 17087 units (1.49%) among others in June 2009.

Sector-wise, the scheme took fresh exposures in Pesticides/Agrochemicals-Indian at 2.34%, Hotels at 2.03% and Construction at 1.66%.

Sector-wise, the scheme exits completely from Shipping at 2.24% and Personal Care-Indian at 1.49% in June 2009.

The scheme had highest exposure to Sintex Industries with 14222 units (3.78% of portfolio size) followed by McNally Bharat Engineering Company with 23064 units (3.67%), Bajaj Auto with 2920 units (3.53%) and Shree Renuka Sugars with 18984 units (3.25%) among others in June 2009

It reduced its exposure from Jyothi Structures by selling 7281 units to 9966 units (by 1.47%), Tech Mahindra by selling 2997 units to 1201 units (1.43%), GVK Power & Infrastructure by selling 15531 units to 44753 units (1.25%) and Voltas by selling 13097 units to 16989 units (1.13%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Sugar at 11.89% (from 10.62% in May 2009), followed by Banks-Public Sector at 9.81% (5.93%), Electric Equipment at 5.40% (5.70%) and Fertilizers at 5.05% (7.47%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Fertilizers to 5.05% (by 2.42%), Transmission Line Towers/Equipment to 1.65% (by 1.47%), Computers-Software-Large to 1.07% (by 1.43%) and Finance & Investments to 2.97% (by 1.29%) among others in June 2009.

Performance: The performance of scheme is benchmarked against CNX Midcap. The scheme has outperformed the benchmark index over most of the time period.

The scheme has posted returns of 6.49% underperformed the CNX Midcap that increased by 7.07% over 1 month period ended 28 July 2009.

Over 3 months period, the scheme advanced by 67.47% outperformed the CNX Midcap that gained 55.12%. It rose by 13.77% outperformed the benchmark index that was up by 5.26% over 1 year period.

AIG Mutual Fund Revises Load Construction - July 29, 2009

AIG Mutual fund has decided to revise the entry as well as exit load structure of all the schemes of the fund house, effective from August 1, 2009. Accordingly, there will be no entry load for purchase/additional purchase/switch-in accepted by the fund.

Similarly, there will be no entry load with respect to applications for registrations under systematic investment plans/systematic transfer plans accepted by the fund.

The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder (Amfi registered distributor) directly by the investor, based on the investor's assessment of various factors including services rendered by the ARN Holder.

However, there will an exit load up to 1% of the redemption value charged to the unit holder by the fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN holders and meet other marketing and selling expenses.

Any amount more than 1% of the redemption value charged to the unit holder as exit load shall be credited to the respective scheme immediately.

Religare Mutual Fund Improve Of Shipment Structure - July 29, 2009

Religare Mutual fund has made the some changes in the entry as well as exit load structure of all the schemes of the fund house, with effect from August 1, 2009. According to the requirements specified by Securities and Exchange Bard of India (Sebi) circular dated June 30, 2009, no entry load will be charged for purchase/additional purchase/switch-in accepted by the fund.

Similarly, no entry load will be charged with respect to applications for registrations under systematic investment plans/systematic transfer plans/dividend transfer plans/event trigger plans accepted by the fund with effect from August 1, 2009.

The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the distributors, based on the investor's assessment of various factors including services rendered by the distributor.

However, the fund house also made changes in the exit load structure/Contingent Deferred Sales Charge (CDSC).

The schemes will charge an exit load up to 1% of the redemption value charged to the unit holder by the fund on redemption of units shall be retained by each of the schemes/plans in a separate account and will be utilized for commissions' payment to the distributor as well as to meet the other marketing and selling expenses.

ICICI Prudential Mutual Fund Floats On R.I.G.H.T. Fund - July 28, 2009

ICICI Prudential Mutual Fund has launched new fund named as ICICI Prudential R.I.G.H.T. (Rewards of Investing and Generation of Healthy Tax Savings) Fund, an open-ended ELSS (equity linked saving scheme). The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 09 June – 09 September 2009.

ICICI Prudential R.I.G.H.T. (Rewards of Investing and Generation of Healthy Tax Savings) Fund is a ten year close-ended equity linked savings scheme that seeks to generate long-term capital appreciation to unit-holders from a portfolio that is invested predominantly in equity and equity related securities of large capitalization companies and emerging mid cap companies along with income tax benefit.

There are two options available under the scheme viz. growth and dividend with Growth option as the default option. Dividend option will have dividend payout facility only.

The minimum subscription amount is Rs 500 and in multiples of Rs 500 thereof.

The scheme will invest up to 80%-100% in equity and equity related securities with high risk profile and it also invest upto 20% in debt.

The Scheme will invest in securitized debt upto 50% of debt portfolio only if it is permitted under the ELSS Guidelines in future.

The scheme will charge an entry Load of 2.25%, for investments of less than Rs 5 crore of applicable NAV and it will not charge any entry load, for investment of Rs 5 crore and above

The scheme will charge an exit load of 2%, if redeemed within 2 years after completion of 3 years lock-in period 2% of applicable NAV and will not charge any exit load thereafter

Benchmark Index for the scheme is S&P CNX Nifty Index. Prashant Kothari will be the fund manager of the scheme.

Kotak Mutual Fund Revises Load Structure - July 28, 2009

Kotak Mutual Fund has revised the entry and exit load for the existing open ended schemes, with effect from 1 August 2009. Entry Load: Accordingly, there will be no entry load charged for purchase/additional purchase/switch-in and SIP/STP applications received for registration under the existing open ended schemes.

The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor's assessment of various factors including services rendered by the ARN Holder.

Exit Load: The scheme will charge an exit load up to 1% of the redemption value changed to the unit holder by the fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN holders and meet other marketing and selling expenses.

Any amount in excess of 1% of the redemption value charged to the unit holder as exit load shall be credited to the respective scheme immediately.

Birla Sun Life Equity Fund Outperforms The Months Time Periods - July 28, 2009

Background: Birla Sun Life Asset Management Company (investment managers for Birla Mutual Fund) is a joint venture between the Aditya Birla Group and Sun Life Financial Services of Canada. Birla Mutual Fund has emerged as one of India's leading mutual funds and offers a spectrum of investment schemes designed to cater to every need of the investor. The fund house manages assets worth Rs 56282.87 crore at the end of June 2009.

Birla Sun Life Equity Fund (G) is an open-ended equity diversified scheme launched in August 1998. The objective of the scheme is to provide long term growth, through a portfolio with a target allocation of 90% equity, 10% debt and money market securities.

The minimum investment amount is Rs.5000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 206.06 per unit as on 27 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 161.20 crore to Rs 1112.11 crore in June 2009.

Birla Sun Life Equity Fund (G) took fresh exposure to four stocks in June 2009. The scheme has purchased 3.98 lakh units (1.41%) of Century Textiles & Industries, 3.50 lakh units (1.23%) of Tata Steel, 1.93 lakh units (1.20%) of UltraTech Cement and 1.45 lakh units (0.38%) of Tata Motors.

The scheme exited completely from Indian Oil Corporation by selling 2.48 lakh units (1.59%), Indiabulls Real Estate by selling 4.59 lakh units (1.19%) and United Spirits by selling 1.16 lakh units (1.03%) among others in June 2009.

Sector-wise, the scheme took fresh exposures in Steel-Large at 1.23%, Cement-North India at 1.20% and Automobiles-LCVs/HCVs at 0.38%. Sector-wise, the scheme exits completely from Breweries & Distilleries at 1.03% in June 2009.

The scheme had highest exposure to Bharti Airtel with 10.42 lakh units (7.52% of portfolio size) followed by Reliance Industries with 3.61 lakh units (6.57%), Infosys Technologies with 3.64 lakh units (5.83%) and ONGC with 3.96 lakh units (3.80%) among others in June 2009

It reduced its exposure from ONGC to 3.96 lakh units (by 0.90%), Reliance Industries to 3.61 lakh units (0.77%), Reliance Infrastructure by selling 15156 units to 1.86 lakh units (0.70%) and Punj Lloyd by selling 2.40 lakh units to 6.78 lakh units (0.69%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Banks-Private Sector at 9.57% (from 9.16% in May 2009), followed by Telecommunications-Services Provider at 8.75% (7.64%), Computers-Software-Large at 7.50% (6.71%) and Power Generation and Supply at 6.60% (8.09%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Refineries to 6.57% (by 2.36%), construction to 4.22% (by 1.61%), Power Generation and Supply to 6.60% (by 1.49%) and Oil Drilling/Allied Services to 3.80% (by 0.90%) among others in June 2009.

Performance: The performance of scheme is benchmarked against BSE 200. The scheme has outperformed the benchmark index over three months and one year time period, while it underperformed the benchmark index over one month and six months time period.

The scheme has posted returns of 4.07% underperformed the BSE 200 that increased by 4.61% over 1 month period ended 27 July 2009.

Over 3 months period, the scheme advanced by 45.49% outperformed the BSE 200 that gained 44.92%. It rose by 9.92% outperformed the benchmark index that was up by 7.30% over 1 year period.

UTI Mutual Fund Declares Dividend For Transportation Fund - July 27, 2009

UTI Mutual Fund has declared dividend under dividend option of UTI - Infrastructure Fund. The record date of dividend is set as July 31, 2009. The quantum of dividend will be 15% i.e. Rs 1.50 per unit on the record date on face value of Rs 10 per unit. The NAV of the scheme was recorded at Rs 19.2000 per unit as on July 23, 2009.

UTI Infrastructure Fund is an open-ended equity scheme with an investment objective to provide capital appreciation by investing in the companies engaged in the sectors like metals, building materials, oil and gas, power, chemicals, engineering etc.

The fund will invest in the companies' stocks which form the part if infrastructure industries.

Birla Sun Life Mutual Fund Changes In Birla Sun Life Medium Term Plan - July 27, 2009

Birla Sun Life Mutual Fund has decided to withdraw Daily Dividend Option offered under Retail and Institutional Plan in Birla Sun Life Medium Term Plan with effect from 27 July 2009. Accordingly no fresh applications under Daily Dividend Option of the scheme shall be accepted on and from 27 July 2009.

Existing investors under this option will continue to be honored as per the features as defined in scheme information document.

Birla Sun Life Medium Term Plan is an open ended income scheme with the primary investment objective to generate regular income through investments in debt and money market instruments in order to make regular dividend payments to unitholders and secondary objective is growth of capital.

Religare Equity Fund The Over One Month And One Year Time Periods - July 27, 2009

Background: Religare Asset Management is promoted by the Religare Group, one of leading integrated financial services groups in India. Religare Mutual Fund has been set up as a trust sponsored by Religare Securities Ltd., with Religare Trustee Company Pvt. Ltd. as the Trustee (Trustee under the India Trusts Act, 1882) and with Religare Asset Management Company Ltd. as the Investment Manager.

The fund house manages assets worth Rs 10031.25 crore at end of June 2009. Religare Equity Fund (G) an open-ended equity diversified scheme launched in August 2007.

The scheme aims to generate long-term capital growth from a focused portfolio of predominantly equity and equity-related securities.

The minimum investment amount is Rs 5000 and in multiples of Rs 1000 thereafter. The unit NAV of the scheme was Rs 9.39 as on 24 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 0.61 crore to Rs 47.01 crore in June 2009.

Religare Equity Fund (G) took fresh exposure to nine stocks in June 2009. The scheme has purchased 1.12 lakh units (3.56%) of Yes Bank, 21503 units (2.83%) of LIC Housing Finance, 67106 units (2.78%) of Power Finance Corporation and 14443 units (2.39%) of Dr Reddys Laboratories among others.

The scheme exited completely from Union Bank of India by selling 70475 units (3.10%), Bank of Baroda by selling 30488 units (2.88%) and Ashok Leyland by selling 3.10 lakh units (2.17%) in June 2009.

Sector-wise, the scheme took fresh exposures in Finance-Housing at 2.83%, Finance-Term-Lending Institutions at 2.78%, Personal Care-Indian at 2.15%, and Automobiles-Passenger Cars at 2.05% among others.

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

The scheme had highest exposure to Infosys Technologies with 16005 units (6.05% of portfolio size) followed by Reliance Industries with 14009 units (6.03%), Punjab National Bank with 28579 units (4.12%) and Bharat Heavy Electricals with 8764 units (4.11%) among others in June 2009.

It reduced its exposure from Reliance Industries by selling 5202 units to 14009 units (by 3.4%), Bharti Airtel by selling 12676 units to 23384 units (2.38%), Hindustan Petroleum Corporation by selling 17928 units to 41972 units (2.02%) and Hindustan Unilever by selling 47938 units to 66705 units (1.92%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Refineries at 14.18% (from 21.34% in May 2009), followed by Banks-Private Sector at 10.41% (8.06%), Computers-Software-Large at 8.50% (8.04%) and Pharmaceuticals-Indian-Bulk Drugs & Formulation at 6.25% (3.44%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Refineries to 14.18% (by 7.16%), Banks-Public Sector to 4.12% (by 5.43%), Telecommunications-Service Provider to 3.99% (by 2.38%) and Personal Care-Multinational to 3.79% (by 1.92%) among others in June 2009.

Performance: The performance of scheme is benchmarked against BSE 100. The scheme has outperformed the benchmark index over one month and one year time period, while it underperformed the benchmark index over three months and six months time period.

The scheme has posted returns of 6.22% outperformed the BSE 100 that increased by 4.33% over 1 month period ended 24 July 2009.

Over 3 months period, the scheme advanced by 25.87% underperformed the BSE 100 that gained 38.42%. It rose by 11.12% outperformed the benchmark index that was up by 7.87% over 1 year period.

IDFC Mutual Fund Declares Dividend - July 25, 2009

IDFC Mutual Fund has declared dividend under the dividend option of IDFC Enterprise Equity Fund Plan A (IDFC-EEF-Plan A). The record date for the dividend is set as July 28, 2009. The fund house has decided to distribute Rs 1 per unit as dividend on the record date. The Plan A of the scheme recorded NAV of Rs 11.5063 per unit as on July 21, 2009.

IDFC Enterprise Equity Fund is a close ended equity scheme with an investment objective to seek to generate capital growth from a portfolio of predominantly equity and equity-related instruments (including equity derivatives). The scheme may also invest in debt as well as money market instruments to generate reasonable income.

Sbi Mutual Fund Pronounce Dividend - July 25, 2009

SBI Mutual Fund has announced 30 July 2009 as the record date for declaration of dividend under the dividend option of Magnum Sector Funds Umbrella – Emerging Business Fund. The fund house has decided to distribute 25% dividend (Rs 2.50 per unit) as on the record date on the face value of Rs 10 per unit. The scheme recorded NAV of Rs 13.74 per unit as on 23 July 2009.

The Magnum Sector Funds Umbrella-Emerging Business Fund was launched in August 2004. The objective of the scheme is to participate in the growth potential presented by various companies that are considered emergent and have export orientation/outsourcing opportunities or are globally competitive by investing in the stocks representing such companies.

The fund may also evaluate emerging business with growth potential and domestic focus.

IDFC Mutual Fund Announces Change In Management - July 24, 2009

IDFC Mutual Fund has announced that Kenneth Andrade shall be the fund manager of IDFC Taxsaver (ELSS) Fund as well as IDFC Tax Advantage (ELSS) Fund with immediate effect. IDFC Tax Saver (ELSS) Fund is a close ended equity linked saving scheme (ELSS) with an investment objective to seek to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities.

However, IDFC Tax Advantage (ELSS) Fund is an open ended equity linked saving scheme (ELSS) and the investment objective of the scheme is to seek to generate long-term capital growth from a diversified portfolio of predominantly equity and equity related securities.

Birla Sun Life Mutual Fund Offers Dividend In Quarterly Interval Fund - July 24, 2009

Birla Sun Life Mutual Fund has approved the declaration of dividend under the dividend option of Birla Sun Life Quarterly Interval Fund–Series 7. The fund house has decided to distribute 100% of distributable surplus as dividend on the record date of 28 July 2009. The scheme recorded NAV of Rs 10.0502 per unit as on 22 July 2009.

Birla Sun Life Quarterly Interval Fund–Series 7 is an interval income scheme with an investment objective to generate regular income through investment in debt and money market instruments.

The fund does not ask entry load. For redemptions made on Specified Transaction Period, the fund does not charge exit load while for redemptions on any day other than Specified Transaction Period the scheme levies 1% exit load.

HSBC Mutual Fund Underperforms The Equity Fund - July 24, 2009

Background: HSBC Asset Management (India) Private Limited set up in May 2002 as a trust by HSBC Securities and Capital Markets (India) Pvt. Ltd. The fund house manages assets worth Rs 9604.84 crore at the end of June 2009. HSBC Equity Fund (G) is an open-ended equity diversified scheme launched in November 2002.

The objective of the scheme is to generate long term capital growth from an actively managed portfolio of equity and equity related securities.

The minimum investment amount is Rs.10000 and in multiples of Rs.1 thereafter. The unit NAV of the scheme was Rs 84.04 per unit as on 23 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 14.76 crore to Rs 1492.18 crore in June 2009.

HSBC Equity Fund (G) took fresh exposure to one stock in June 2009. The scheme has purchased 2.69 lakh units (1.14%) of Kotak Mahindra Bank.

The scheme exited completely from DLF by selling 4.98 lakh units (1.36%), GMR Infrastructure by selling 10.78 lakh units (1.20%), and Power Grid Corporation of India by selling 13.53 lakh units (1.05%) in June 2009.

Sector-wise, the scheme took no fresh exposure to any sectors in June 2009. Sector-wise, the scheme did exit completely from Diversified-Medium/Small at 1.2% in June 2009.

The scheme had highest exposure to Reliance Industries with 5.31 lakh units (7.20% of portfolio size) followed by Bharat Heavy Electricals with 3.41 lakh units (5.05%), State Bank of India with 4.14 lakh units (4.84%) and HDFC Bank with 4.05 lakh units (4.05%) among others in June 2009.

It reduced its exposure from HDFC Bank by selling 90358 units to 4.05 lakh units (by 0.79%), ITC by selling 4.13 lakh units to 28.26 lakh units (0.42%), Reliance Industries to 5.31 lakh units (0.41%) and State Bank of India to 4.14 lakh units (0.37%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Refineries at 10.30% (from 11.11% in May 2009), followed by Banks-Private Sector at 7.39% (7.09%), Telecommunications-Service Provider at 5.43% (5.67%) and Computers-Software-Large at 5.26% (4.82%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Construction to 2.84% (by 1.56%), Power Generation and Supply to 3.84% (by 0.83%), Refineries to 10.30% (by 0.81%) and Oil Drilling/Allied Services to 4.9% (by 0.52%) among others in June 2009.

Performance: The performance of scheme is benchmarked against BSE 200. The scheme has underperformed the benchmark index over all time periods.

The scheme has posted returns of 5.60% underperformed the BSE 200 that increased by 6.72% over 1 month period ended 23 July 2009.

Over 3 months period, the scheme advanced by 26.69% underperformed the BSE 200 that gained 40.42%. It fell 0.38% underperformed the benchmark index that was up by 2.60% over 1 year period.

UTI Mutual Fund Announces Various Changes - July 23, 2009

UTI Mutual Fund has announced changes in features for institutional plan under UTI Floating Rate Fund Short Term Plan, with effect from 20 July 2009. Revised Features, Minimum Amount of Initial Investment: Minimum investment under the institutional plan is Rs 50 lakh and in multiples of Rs 1 thereafter or such amount as may be decided from time to time.

Options & Sub-option offered under Weekly Dividend Option of Institutional Plan: Weekly dividend option will have two sub options namely dividend payout and dividend reinvestment.

Under the dividend reinvestment sub option, dividend declared would be re-invested in the fund by way of allotment of additional units at the prevailing ex-dividend NAV per unit.

Existing Features: Minimum Amount of Initial Investment: Minimum investment under the institutional plan is Rs 1 crore and in multiples of Rs 1 thereafter or such amount as may be decided from time to time.

Options & Sub-option offered under Weekly Dividend Option of Institutional Plan: The dividend under the weekly dividend option would be compulsorily re-invested in the fund by way of allotment of additional units at the prevailing ex-dividend NAV per unit.

UTI Floating Rate Fund is an open-ended income scheme, which has the objective to generate regular income through investment in a portfolio comprising substantially of floating rate debt/money market instruments, fixed rate debt/money market instruments swapped for floating rate returns.

HDFC Mutual Fund Change Consignment Structure - July 23, 2009

HDFC Mutual Fund has decided to revise the entry and exit load structure wherever applicable for all schemes of the fund house with effect from 1 August 2009. Entry Load: Accordingly, no entry load will be charged for purchase/additional purchase/switch-in accepted by the fund.

Similarly, no entry load will be charged with respect to applications for registrations under Systematic Investment Plan/Systematic Transfer Plan/HDFC Flexi NDEX Plan accepted by the fund.

Exit Load: The scheme will charge an exit load up to 1% of the redemption value charged to the unitholder by the fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN holders and meet other marketing and selling expenses.

Any amount in excess of 1% of the redemption value charged to the unitholder as exit load shall be credited to the respective Scheme immediately.

Franklin Templeton Mutual Fund Offer India Flexi Cap Fund - July 23, 2009

Franklin Templeton Investments (India) Mutual Fund has announced dividend under the dividend option of Franklin India Flexi Cap Fund, an open-ended diversified equity fund. The dividend declared is Rs. 1.50 per unit on the face value of Rs. 10. All investors registered in the dividend plan as on 29 July 2009 will receive this tax-free dividend.

The record date for the dividend is 29 July 2009 and any purchases on or before this date will be eligible for the dividend Under the dividend reinvestment plan, the dividend declared will be reinvested in the Fund at the NAV of 31 July 2009 and unit holders will be allotted additional units for the dividend amount.

Franklin India Flexi Cap Fund was launched in March 2005 and currently manages above Rs. 2158 crore of assets for over 3.91 lakh investors.

Franklin India Flexi Cap Fund seeks to provide medium to long-term capital appreciation by investing in stocks across the entire market capitalization range.

Reliance Mutual Fund Introduction By Infrastructure Fund - July 22, 2009

The initial public offering of Reliance Mutual Fund's Reliance Infrastructure Fund (RIF), which closed on 23 June 2009, has debuted at Rs 10.0704 per unit as against a face value of Rs 10 per unit on 20 July 2009. Dring new fund offer (NFO) period of RIF, which is an open-ended equity fund, Reliance Mutual Fund has collected about Rs 2350 crore.

The prime investment aim of the scheme is to create long-term capital appreciation by investing mainly in equity, equity related instruments of companies engaged in infrastructure and infrastructure related sectors.

These companies should be incorporated or have their area of primary activity in India and their secondary purpose is to generate steady returns by investing in debt and money market securities.

However, this scheme might invest up to 65%-100% in equities and equity related securities as well as derivatives engaged in infrastructure sectors and infrastructure related sectors.

This scheme is said to have investment coverage up to 35% in debt and money market securities together with investments in securitized debt, where investment should be up to 30%.

Birla Sun Life Mutual Fund Appoints A Balasubramanian As CEO - July 22, 2009

The Birla Sun Life Asset Management Company has appointed A. Balasubramanian as new Chief Executive Officer. Balasubramanian is currently the Chief Investment Officer at Birla Sun Life Mutual Fund and will continue to handle this portfolio.

He will report on key governance issues to the Board and on business and operating matters to Pankaj Razdan, Deputy Chief Executive – Financial services, Aditya Birla Group.

Balasubramanian has been with the Fund House since January 1995. Under his leadership as the CIO, over the years, Birla Sun Life Mutual Fund has gained recognition as a consistent performer, across asset classes.

Earlier this year the mutual fund created history by becoming the only fund house to have won, in 2 consecutive years, the coveted “Mutual Fund House of the Year” award from CNBC TV 18-CRISIL.

This recognition came on the heels of Birla Sun Life Mutual Fund being declared the Debt Fund House of the year at this forum.

And prestigious wins at the ICRA and Lipper awards, both of which are considered benchmarks within the industry.

Commenting on his new designation, Balasubramanian said, “Birla Sun Life Mutual Fund has gained strong momentum in recent years, with a strong foundation for future growth.

Backed by an enviable brand and our committed team, I am confident that we will now take our success to even newer highs.”

On the appointment Ajay Srinivasan, Chief Executive-Financial Services, Aditya Birla Group, said, “Birla Sun Life Mutual Fund is a top 5 player, recognized for its customer focus and consistent performance.

Balasubramanian's appointment is an endorsement of our strong talent base and the valuable role he has played over the last 14 years, in our mutual fund's success.”

LIC Mutual Fund Announced LIC Equity Underperformed Fund - July 22, 2009

Background: Life Insurance Corporation of India set up LIC Mutual Fund in June 1989. LIC Mutual Fund was constituted as a Trust in accordance with the provisions the Indian Trust Act, 1882. This trust has appointed Jeevan Bima Sahayog Assets Management Company Ltd. as the Investment Managers for LIC Mutual Fund in April 1994. The fund house manages assets worth Rs 32414.92 crore at the end of June 2009.

LIC Mutual Fund Equity Fund (G) is an open-ended equity diversified scheme launched in January 1993. The objective of the scheme is to obtain maximum possible capital growth consistent with reasonable level of safety and security by investing mainly in equity.

The minimum investment amount is Rs.2000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 22.21 per unit as on 21 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 1.88 crore to Rs 98.26 crore in June 2009.

LIC Mutual Fund Equity Fund (G) took fresh exposure to seventeen stocks in June 2009. The scheme has purchased 2.50 lakh units (3.84%) of Steel Authority of India, 59126 units (2.86%) Tata Communications, 10000 units (1.52%) of HDFC Bank and 30000 units (1.44%) of Siemens among others.

The scheme did not exit completely from any stock in June 2009.

Sector-wise, the scheme took fresh exposures in Steel-Large at 3.84%, Pharmaceuticals-Indian-Bulk Drugs & Formulation at 2.32%, Electronics-Components at 1.44% and Trading 0.94% among other in June 2009. Sector-wise, the scheme did not exit completely from any sector in June 2009.

The scheme had highest exposure to Larsen & Toubro with 41486 units (6.62% of portfolio size) followed by Housing Development Finance Corporation with 25000 units (5.97%), Bharat Heavy Electricals with 25000 units (5.61%) and Reliance Industries with 25000 units (5.15%) among others in June 2009.

It reduced its exposure from Reliance Petroleum by selling 3 units to 1.50 lakh units (by 0.32%), Reliance Infrastructure to 29301 units (0.31%), Religare Enterprises to 24999 units (0.24%) and Provogue (India) by selling 6 units to 1.02 lakh units (0.23%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Power Generation and Supply at 13.73% (from 10.06% in May 2009), followed by Banks-Public Sector at 8.72% (5.78%), Banks-Private Sector at 8.35% (6.70%) and Refineries at 7.88% (6.73%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Textiles-Products to 0.51% (by 0.23%), Finance & Investments to 1.64% (by 0.20%), Construction to 4.49% (by 0.14%) and Chlor Alkali/Soda Ash to 0.89% (by 0.06%) among others in June 2009.

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

The scheme has posted returns of 3.46% underperformed the BSE Sensex that grew 3.72% over 1 month period ended 21 July 2009.

Over 3 months period, the scheme advanced by 37.98% underperformed the BSE Sensex that gained 38.21%. It rose by 10.80% outperformed the benchmark index that was up by 8.75% over 1 year period.

UTI Equity Fund Outperforms The One Year Time Periods - July 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 67978.19 crore at the end of June 2009.

UTI Equity Fund (G) is an open-ended scheme launched in April 1992. The scheme aims at 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 38.45 per unit as on 20 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 0.83 crore to Rs 1455.62 crore in June 2009.

UTI Equity Fund (G) took fresh exposure to seven stocks in June 2009. The scheme has purchased 8.77 lakh units (1.18%) of NTPC, 10.00 lakh units (0.59%) Hindalco Industries, 1.87 lakh units (0.50%) of MphasiS and 2.50 lakh units (0.37%) of Sintex Industries among others.

The scheme exited completely from Divis Laboratories by selling 1.09 lakh units (0.86%), Dr Reddys Laboratories by selling 16693 units (0.07%), Bajaj Holdings & Investment by selling 20519 units (0.05%) and Gujarat Industries Power Company by selling 46873 units (0.03%) in June 2009.

Sector-wise, the scheme took fresh exposures Aluminium and Aluminium Products at 0.59%, Diversified-Large at 0.37% and Automobiles-LCVs/HCVs at 0.23% in June 2009. Sector-wise, the scheme did exit completely from Domestic Appliances at 0.01% in June 2009.

The scheme had highest exposure to Reliance Industries with 3.81 lakh units (5.30% of portfolio size) followed by Infosys Technologies with 3.36 lakh units (4.11%), Nestle India with 2.42 lakh units (3.34%) and Shree Renuka Sugars with 33.74 lakh units (3.27%) among others in June 2009.

It reduced its exposure from State Bank of India by selling 2.55 lakh units to 2.58 lakh units (by 3.50%), Balrampur Chini Mills by selling 20.74 lakh units to 2.75 lakh units (1.21%), Punjab National Bank by selling units 1.17 lakh units to 2.65 lakh units (0.53%) and India Cements by selling 2.80 lakh units to 11.94 lakh units (0.48%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Banks-Private Sector at 9.63% (from 10.27% in May 2009), followed by Refineries at 8.31% (7.32%), Computers-Software-Large at 7.47% (3.06%) and Food-Processing-MNC at 5.50% (4.77%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Banks-Public Sector to 4.33% (by 4.03%), Pharmaceuticals-Indian-Bulk Drugs to 1.30% (by 0.77%), Banks-Private Sector to 9.63% (by 0.64%) and Cement-South India to 1.42% (by 0.52%) among others in June 2009.

Performance: The performance of scheme is benchmarked against BSE 100. The scheme has outperformed the benchmark index over one month and one year time period while it underperformed the benchmark index over three months and six months time period.

The scheme has posted returns of 8.07% outperformed the BSE 100 that increased by 4.77% over 1 month period ended 20 July 2009.

However, over 3 month's period, the scheme advanced by 33.41% underperforming the BSE 100 that gained 40.45%. It rose 14.91% outperforming the benchmark index that was up by 12.37% over 1year period.

Reliance Infrastructure Fund Debuts By The Initial Public Offering - July 21, 2009

Reliance Mutual Fund's Reliance Infrastructure Fund, whose initial public offering closed on 23 June 2009, has debuted at Rs 10.0704 per unit as against a face value of Rs 10 per unit on 20 July 2009. Reliance Mutual Fund has collected about Rs 2350 crore during NFO period of Reliance Infrastructure Fund launched on 25 May 2009.

Reliance Infrastructure Fund is an open-ended equity fund. The primary investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related instruments of companies engaged in infrastructure and infrastructure related sectors and which are incorporated or have their area of primary activity, in India and the secondary objective is to generate consistent returns by investing in debt and money market securities.

The scheme may invest up to 65%-100% in equities and equity related securities including derivatives engaged in infrastructure sectors and infrastructure related sectors.

At least 65% of investment would be made in equity/equity related securities of companies engaged in infrastructure sectors and infrastructure related sectors.

The scheme will have investment exposure up to 35% in debt and money market securities including investments in securitised debt. Investment in securitised debt should be up to 30%.

The fund manager for the scheme is Sunil Singhania. The performance of the scheme will be benchmarked against BSE 100.

NFO Period Of Canara Robeco F.O.R.C.E Fund On Starts - July 21, 2009

Canara Robeco Mutual Fund has launched the new offer period of Canara Robeco F.O.R.C.E Fund (Financial Opportunities, Retail Consumption & Entertainment Fund), an open-ended equity Fund. The new fund has opened on 20 July 2009 and will close on 18 August 2009. The face value of the new issue will be Rs 10 per unit.

The investment objective of the Fund is to seek to provide long-term capital appreciation by primarily investing in equity and equity related securities of companies in the finance, retail, & entertainment sector.

Features of the scheme: Investment option The scheme offers two plans viz. retail and institutional plan with growth and dividend option. The dividend option further offers dividend payout and dividend reinvestment facility.

Minimum application amount: 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 5 crore and in multiples of Re 1 thereafter.

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

Asset allocation: The scheme will invest 65-100% in Equity and equity related instruments of companies in the Finance, Retail & Entertainment with high risk profile.

It will invest up to 35% in Other Equity and equity related instruments with high risk profile. The fund will invest up to 35% in Domestic Debt and Money Market instruments (Including securitised debt up to 10% of net assets) with low risk.

The scheme shall invest minimum 40% and maximum 65% in Finance Sector, minimum 15% and maximum 35% in Entertainment sector and minimum 10% and maximum 25% in Retail sector.

Exposure by the Scheme in derivative instruments for the purpose of hedging and portfolio rebalancing shall not exceed 30% of the total Net Assets of Scheme.

Investment by the Scheme in ADRs/GDRs shall not exceed 10% of the net assets of the Scheme as on the date of such investments.

The Scheme may invest in Foreign Securities up to 10% of the net assets of the Scheme (subject to an overall limit of 10% of the net assets of the Fund) as on 31st March of each relevant year of the investment subject to a maximum of US$ 7 billion (subject to a maximum of US$ 300 million per Mutual Fund).

The stock lending done by the Scheme (if any) shall not exceed 25% of the net assets of the Scheme as on the date of such lending. The scheme shall not make any investments in foreign securitized debt.

Load structure: Retail Plan Entry load The scheme will levy an entry load of 2.25% for investments less than Rs. 5 crore. For investments of Rs. 5 crore and above, no entry load will be charged.

Exit load: 1% will be the exit load for investments less than Rs 5 crore redeemed/ switched out within 12 months from the date of allotment.

While no exit load will be levied for amount equal to and greater than Rs.5 crore redeemed/switched out.

Institutional Plan: There will be no entry load and exit load. Benchmark index The performance of the scheme is being benchmarked to the performance of S&P CNX Nifty. Fund Manager Anand N. Shah will be fund manager for the scheme.

Franklin Templeton Mutual Fund Pronounce Dividend - July 20, 2009

Franklin Templeton Mutual Fund has announced the declaration of dividend under dividend option of Templeton Fixed Horizon Fund - Series III - Plan A (TFHF – Series III – Plan A). The record date for dividend has been fixed as 24 July 2009.

The fund house has decided to distribute 100% of distributable surplus available as on the record date on the face value of Rs 10 per unit, for the above mentioned scheme.

TFHF – Series III – Plan A is a closed end income fund to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities with a maturity profile generally in line with the fund's duration.

Reliance Mutual Fund Collection Propose Document With Sebi - July 20, 2009

Arbitrage Advantage Fund and for this it has filed offer document with Sebi to launch Reliance Arbitrage Advantage Fund. The face value of the new issue will be Rs 10 per unit. The primary investment objective of the scheme is to seek to generate capital appreciation to the investors by using the equity derivative strategies as well as arbitrage opportunities and pure equity investments and the secondary objective is to provide income distribution to the investors by investing the balance in debt as well as money market instruments.

Investment option: The scheme shall have Retail and Institutional Plans. Both the above plans will have growth plan & dividend plan.

The growth Plan will have Growth Option and the Dividend Plan will have Dividend Payout Option & Dividend Reinvestment Option.

The minimum Application Amount: (During NFO and Continuous Offer Period) under the retail Plan: Rs 5000 and in multiples of Re. 1 thereafter.

Under the Institutional Plan: Rs. 1 crore in multiples of Re. 1 thereafter. The scheme seeks to collect a minimum subscription amount of Rs 1 crore during NFO period.

Fidelity Equity Fund Outperforms The Time Periods - July 20, 2009

Background: Fidelity International's Indian asset management company started operations in the country in 2004. Its first fund, the Fidelity Equity Fund, was launched in March 2005. FIL Fund Management Private Limited is the Indian arm of Fidelity International, one of the world's leading global investment management companies with operations in 23 countries.

FIL provides mutual funds, retirement services, including defined benefit and defined contribution pension schemes, and specialist institutional mandates to individual and institutional investors outside the Americas.

The fund house manages assets worth Rs 9375.38 crore at end of June 2009. Fidelity Equity Fund (G) an open-ended equity diversified scheme launched in March 2005.

The objective of the scheme is objective to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities.

The minimum investment amount is Rs 5000 and in multiples of Rs 1000 thereafter. The unit NAV of the scheme was Rs 24.06 as on 17 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 17.87 crore to Rs 2546.22 crore in June 2009.

Fidelity Equity Fund (G) took fresh exposure to three stocks in June 2009. The scheme has purchased 6.10 lakh units (1.50%) of Sterlite Industries (India), 6.28 lakh units (1.00%) DLF and 2.10 lakh units (0.35%) K E C International.

The scheme exited completely from Petronet LNG by selling 6.05 lakh units (0.15%) in June 2009.

Sector-wise, the scheme took fresh exposure to Mining/Minerals/Metals at 1.50% Transmisson Line Towers/Equipment at 0.35% in June 2009. Sector-wise, the scheme did not exit completely from any sectors in June 2009.

The scheme had highest exposure to Reliance Industries with 9.81 lakh units (8.84% of portfolio size) followed by State Bank of India with 7.47 crore units (5.53%), HDFC Bank with 7.53 lakh units (4.30%) and Bharti Airtel with 11.04 crore units (3.58%) among others in June 2009.

It reduced its exposure from ITC by selling 3.79 lakh units to 46.40 lakh units (by 1.31%), Cipla by selling 2837 units to 32.21 lakh units (0.99%), Sun Pharmaceuticals Industries by selling 94027 units to 2.08 lakh units (0.90%) and Hindustan Unilever by selling 1.40 lakh units to 28.06 lakh units (0.84%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Banks-Public Sector at 11.54% (from 10.53% in May 2009), followed by Banks-Private Sector at 9.21% (8.17%), Refineries at 8.84% (8.77%) and Telecommunications-Service Provider at 5.00% (5.63%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Pharmaceuticals-Indian-Bulk Drugs & Formulation to 3.84% (by 1.89%), Cigarettes to 3.37% (by 1.31%), Personal Care-Multinational to 2.57% (by 0.84%) and Telecommunications-Service Provider to 5.00% (by 0.63%) among others in June 2009.

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

The scheme has posted returns of 3.73% outperforming the BSE 200 Index that gained 1.77% over 1 month period ended 17 July 2009.

Over 3 months period, the scheme advanced by 33.65% underperforming the BSE 200 Index that gained 38.04%. It rose 17.98% outperforming the benchmark index that increased by 12.93% over 1 year period.

UTI Mutual Fund Declares Dividend - July 18, 2009

UTI Mutual Fund has announced 24 July 2009 as the record date for declaration of dividend under the dividend option of UTI Dividend Yield Fund. The fund house has decided to distribute 5% or upto 90% of distributable surplus available as on the record date, whichever is lower as dividend on the face value of Rs 10 per unit. The scheme recorded NAV of Rs 11.56 per unit as on 16 July 2009.

UTI Dividend Yield Fund is an open ended equity oriented scheme. The investment objective of the fund is provide medium to long term capital gains and/or dividend distribution by investing predominantly in equity and equity related instruments, which offer high dividend yield.

ICICI Pru Mutual Fund Declares Dividend For Quarterly Interval Plan - July 18, 2009

ICICI Prudential Mutual Fund has declared dividend under the dividend option of ICICI Prudential Interval Fund II-Quarterly Interval Plan A. The fund house has decided to distribute dividend up to 100% of distributable surplus of the scheme on the face value of Rs 10 per unit as dividend on the record date of 23 July 2009.

The scheme recorded a NAV of Rs 10.1933 per unit as on 16 July 2009.

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

Reliance Mutual Fund Documents Offer Text With Sebi - July 18, 2009

Reliance Mutual Fund has filed offer document with Sebi to launch Reliance Arbitrage Advantage Fund. It is an open ended equity scheme. The face value of the new issue will be Rs 10 per unit. The primary investment objective of the scheme is to seek to generate capital appreciation to the investors by using equity derivative strategies, arbitrage opportunities and pure equity investments and the secondary objective is to provide income distribution to the investors by investing the balance in debt and money market instruments.

Investment option: The scheme shall have following plans, Retail Plan, Institutional Plan, Both the above plans will have growth plan & dividend plan as specified below:

Growth Plan: Growth Option, Dividend Plan: Dividend Payout Option & Dividend Reinvestment Option.

Minimum Application Amount: (During NFO and Continuous Offer Period):

Retail Plan: Rs 5000 and in multiples of Re. 1 thereafter.

Institutional Plan: Rs. 1 crore in multiples of Re. 1 thereafter.

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

Asset allocation: Under normal circumstances, the anticipated asset allocation would be: 65-90% in equities and equity related instruments, 65-90% in derivatives including index futures, stock futures, index options, & stock options, etc. and 10-35% in debt and Money market securities (including investments in securitized debt upto 30%).

Load structure: For Retail Plan, Entry Load: Nil, Exit Load: For subscription of less than Rs. 1 crore per purchase transaction:

1% if redeemed/switched on or before completion of 6 months from the date of allotment of units.

0.50% if redeemed/switched after 6 months-1 day and on or before completion of 12 months from the date of allotment of units.

Nil if redeemed/switched after completion of 12 months from the date of allotment of units.

For subscription of Rs 1 crore & above per purchase transaction - Nil

For Institutional Plan:

Entry Load: Nil

Exit Load: Nil

Benchmark index: Crisil Liquid Fund Index.

Fund Manager: Krishan Daga will be fund manager for the scheme.

Birla Sun Life Mutual Fund Reintroduces STP Facility - July 17, 2009

Birla Sun Life Mutual Fund has decided to re-introduce Systematic Transfer Plan (STP) facility with effect from 20 July 2009 under Birla Sun Life Income Plus, Birla Sun Life Income Fund, Birla Sun Life Short Term Fund, Birla Sun Life Cash Plus, Birla Sun Life Savings Fund and Birla Sun Life Dynamic Bond Fund.

The terms and conditions presently applicable for STP as mentioned in Common Key Information Memorandum and Common Application Form will be applicable for availing the STP facility under the aforesaid schemes.

Birla Sun Life MF Announces Change In Load Structure For DAP - July 17, 2009

Birla Sun Life Mutual Fund has revised the load structure for Disciplined Advantage Plan (DAP) with effect from 20 July 2009 under Birla Sun Life Income Plus, Birla Sun Life Income Fund, Birla Sun Life Short Term Fund, Birla Sun Life Cash Plus, Birla Sun Life Savings Fund and Birla Sun Life Dynamic Bond Fund.

The revised load structure is as follows, Entry load of DAP, Existing: Nil, Revised: No change, Entry load at the time of transfer IN.

Existing: Entry load as applicable to respective eligible equity scheme(s) will be payable. (Eligible equity schemes are Birla Sun Life Frontline Equity Fund, Birla Sun Life Midcap Fund, Birla Sun Life Top 100 Fund, Birla Sun Life Equity Fund, Birla Sun Life Infrastrucutre Fund and Birla Sun Life Tax Relief'96).

Revised: No change, Exit load at the time of transfer OUT, Existing: Nil, Revised: Exit load as applicable to respective scheme(s), Exit load for DAP:

Existing: For units redeemed/switched out (including inter/intra scheme transfer) to any schemes/plan/option other than eligible equity schemes within 2 years from the date of allotment- an exit load of 2.50% of applicable NAV.

Revised: Exit load as applicable to respective scheme(s)

Exit load at the time of redemption from equity scheme:

Existing: Exit load as applicable to respective scheme(s)

Revised: No change

Franklin India Bluechip Fund Outperforms The Time Periods - July 17, 2009

Background: Franklin Templeton Assets Management (India) Pvt. Ltd. is a wholly owned subsidiary of Templeton International Inc. set up in February 1996. Franklin is one of the largest financial services groups in the world, based in California, USA. It has over 50 years experience in international investment management with offices in over 29 countries. The fund house manages assets worth Rs 25473.32 crore at end of June 2009.

Franklin India Bluechip Fund (G) is an open-ended growth scheme launched in October 1993, as a 3-year closed end fund, FIBCF was converted into an open end fund from January 1997.

The fund invests mainly in large cap blue-chip shares. The objective of the scheme is to provide medium to long term capital appreciation.

The minimum investment amount is Rs.5000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs. 149.74 per unit as on 16 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 60.81 crore to Rs 2199.40 crore in June 2009.

Franklin India Bluechip Fund (G) took fresh exposure to four stocks in June 2009. The scheme has purchased 4.63 lakh units (1.45%) of UltraTech Cement,, 1.63 lakh units (0.81%) Sun Pharmaceuticals, 5.00 lakh units (0.65%) of GAIL (India) and 44054 units (0.25%) of Oracle Financial Services Software.

The scheme exited completely from ITC by selling 15.00 lakh units (1.29%), Dabur India by selling 15.00 lakh units (0.77%) and Glaxosmithkline Pharma by selling 1.20 lakh units (0.65%) in June 2009.

Sector-wise, the scheme took fresh exposure to Cement-North India at 1.45%.

Sector-wise, the scheme exits completely from Cigarettes at 1.29%, Personal Care–Indian at 0.77% and Pharmaceuticals – Multinational at 0.65% in June 2009.

The scheme had highest exposure to Reliance Industries with 8.00 lakh units (7.36% of portfolio size) followed by HDFC Bank with 9.50 lakh units (6.44%), Bharti Airtel with 16.40 lakh units (5.98%) and Kotak Mahindra Bank with 17.00 lakh units (4.89%) among others in June 2009.

It reduced its exposure from HDFC Bank by selling 2.40 lakh units to 9.50 lakh units (by 1.59%), Reliance Industries to 8.00 lakh units (1.16%), Larsen & Toubro by selling units 2.15 lakh units to 5.60 lakh units (1.10%) and Kotak Mahindra Bank to 17.00 lakh units (0.52%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Banks - Private Sector at 18.37% (from 20.44% in May 2009), followed by Telecommunications - Service Provider at 8.41% (9.05%), Refineries at 8.34% (8.95%) and Computers - Software – Large at 6.11% (6.53%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Banks - Private Sector to 18.37% (by 2.07%), Engineering - Turnkey Services to 3.99% (by 1.10%), Telecommunications - Service Provider to 8.41% (by 0.64%) and Refineries to 8.34% (by 0.61%) among others in June 2009.

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

The scheme has posted negative returns of 2.48% outperforming the BSE Sensex that declined 4.73% over 1 month period ended 16 July 2009.

Over 3 month's period, the scheme advanced by 33.54% outperforming the BSE Sensex that gained 30.14%. It rose 26.29% over 1 year period, once again outperforming the benchmark index that was up by just 13.31%.

ICICI Prudential Mutual Fund Files Offer Document With Sebi - July 16, 2009

ICICI Prudential Mutual Fund has filed offer document with Sebi to launch ICICI Prudential NiNJA ( Nifty and Nifty Junior Advantage ) Fund. It is an open ended equity scheme that seeks to invest in companies whose securities are included in S&P CNX Nifty and CNX Nifty Junior and endeavor to generate long term capital appreciation for its unitholders.

The fund will actively manage allocation between the S&P CNX Nifty and CNX Nifty Junior indices while maintaining the weightage of individual stocks within each of the indices. The face value of the new issue will be Rs 10 per unit.

The objective of the fund is to invest in companies whose securities are included in S&P CNX Nifty and CNX Nifty Junior and endeavor to generate long term capital appreciation for its unitholders.

The fund will actively manage allocation between the S&P CNX Nifty and CNX Nifty Junior indices while maintaining the weightage of individual stocks within each of the indices.

Investment option: The scheme offers three options viz. regular (default), premium and institutional option I with growth and dividend options.

The dividend option further offers dividend payout and dividend reinvest facility. Dividend reinvestment option will be the default option.

Minimum application amount: The minimum investment amount under regular option will be Rs 5000 and in multiples of Re 1 thereafter, under premium option will be Rs 5 lakh and in multiples of Re 1 thereafter and under institutional option I will be Rs 1 lakh and in multiples of Re 1 thereafter.

During the NFO period of the plans under the scheme, each plan seeks to raise a minimum subscription of Rs. 1 Lakh.

Asset allocation: The scheme will invest 90-100% in equity & equity related securities of companies constituting the S&P CNX Nifty and CNX Nifty Junior and exchange traded derivatives on the indices (including derivatives instruments to the extent of 100% of the Net Assets as permitted vide Sebi circular). 0-10% in debt & money market instruments.

Load structure: Entry load: Nil

Exit load Regular Option:

a) For investment of Rs. 5 crore and above: Nil

b) For investment less than Rs. 5 crore and redeemed before 12 months from the date of allotment: 1%

c) For investments of less than Rs. 5 crore and redeemed after 12 months from the date of allotment: Nil

Premium Option: Nil, Institutional Option I: Nil

Benchmark index: 50% S&P CNX Nifty and 50% CNX Nifty Junior.

Fund Manager: Yogesh Bhatt will be fund manager for the scheme.

Franklin Templeton Mutual Fund Change Exit Shipment - July 16, 2009

Franklin Templeton Mutual Fund has announced the change in the exit load structure of retail plan under Templeton India Short Term Income Plan, with effect from 17 July 2009. Revised exit load: The scheme will charge an exit load of 0.50% for the investment below Rs 25 crore, if redeemed within 5 months from the date of allotment.

The scheme will charge an exit load of 0.75% for the investment equal to or greater than Rs 25 crore, if redeemed within 5 months from the date of allotment.

Current exit load: The scheme is charging an exit load of 0.50% for the investment below Rs 25 crore, if redeemed within 4 months from the date of allotment.

The scheme is charging an exit load of 0.75% for the investment equal to or greater than Rs 25 crore, if redeemed within 4 months from the date of allotment.

Templeton India Short Term Income Plan is an open end scheme, which has the objective to provide stable returns by investing in fixed income securities.

Sundaram BNP Paribas Mutual Fund Underperforms Capital Index - July 16, 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 13314.65 crore in June 2009.

Sundaram BNP Paribas CAPEX Opportunity Fund (G) an open-ended equity diversified scheme launched in August 2005.

The objective of the scheme is to generate consistent long-term returns by investing predominantly in equity/equity related instruments of companies in the capital goods sector.

The minimum investment amount is Rs 5000 and in multiples of Rs 500 thereafter. The unit NAV of the scheme was Rs 18.88 per unit as on 15 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 14.32 crore to Rs 540.70 crore in June 2009.

Sundaram BNP Paribas CAPEX Opportunity Fund (G) took fresh exposure to ten stocks in June 2009. The scheme has purchased 23.11 lakh units (1.64%) of Dish TV India, 27.60 lakh units (1.09%) Alok Industries, 84958 units (1.08%) of Ultra Tech Cements and 6.85 lakh units (1.01%) of Unitech among others.

The scheme exited completely from Housing Development & Infrastructure by selling 3.34 lakh units (1.81%), State Bank of India by selling 41547 units (1.48%), Axis Bank by selling 76068 units (1.13%), Dena Bank by selling 9.67 lakh units (0.99%) and Jet Airways by selling 1.58 lakh units (0.91%) in June 2009.

Sector-wise, the scheme took fresh exposures in Cement-North India at 1.95%, Entertainment/Electronic Media Software at 1.64%, Textiles-Processing at 1.09% and Refineries at 0.87% in June 2009

Sector-wise, the scheme did exit completely from Banks-Public Sector at 2.47%, Banks-Private Sector at 1.13% and Transport-Airlines at 0.91% in June 2009.

The scheme had highest exposure to Larsen & Toubro with 3.03 lakh units (8.81% of portfolio size) followed by Bharat Heavy Electricals with 1.43 lakh units (5.86%), Siemens with 5.26 lakh units (4.60%) and ABB with 2.50 lakh units (3.60%) among others in June 2009.

It reduced its exposure from Aban Offshore by selling 1.98 lakh units to 20914 units (by 3.43%), GVK Power & Infrastructure by selling 17.34 lakh units to 20.13 lakh units (1.74%), Indiabulls Real Estate by selling units 2.25 lakh units to 1.55 lakh units (1.22%) and Jaiprakash Associates by selling 2.85 lakh units to 3.78 lakh units (1.18%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Electric Equipment at 19.79% (from 19.10% in May 2009), followed by Construction at 11.80% (14.85%), Engineering-Turnkey Services at 11.36% (11.80%) and Electronics-Components at 6.51% (5.98%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Oil Drilling/Allied Services to 0.35% (by 3.43%), Construction to 11.80% (by 3.05%), Power Generation and Supply to 1.51% (by 1.74%) and Trading to 0.90% (by 0.69%) among others in June 2009.

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

The scheme has posted negative returns of 4.73% underperformed the BSE Capital Goods Index that declined 4.00% over 1 month period ended 15 July 2009.

Over 3 month's period, the scheme advanced by 43.93% underperformed the BSE Capital Goods Index that gained 49.39%. It rose just by 5.27% one again underperformed the benchmark index that was up by 18.09% over 1year period.

ICICI Pru Mutual Fund Declaration Of ICICI Infrastructure Fund - July 15, 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 70169.46 crore assets under management as on June 2009.

ICICI Pru Infrastructure Fund (G) an open-ended equity diversified scheme launched in July 2005.

The objective of the scheme is objective to generate capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of the companies belonging to the infrastructure industries and balance in debt securities and money market instruments including call money.

However, there can be no assurance that the investment objective of the Plan will be realized. The minimum investment amount is Rs 5000 and in multiples of Rs 1 thereafter. The unit NAV of the scheme was Rs 23.26 as on 14 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 92.08 crore to Rs 3842.13 crore in June 2009.

ICICI Pru Infrastructure Fund (G) took fresh exposure to five stocks in June 2009. The scheme has purchased 5.36 lakh units (1.49%) of Oil & Natural Gas Corporation, 2.24 lakh units (1.02%) State Bank of India and 4.29 lakh units (0.68%) Sterlite Industries (India) among others.

The scheme exited completely from Jindal Steel & Power by selling 3.63 lakh units (2.03%), Hindustan Petroleum Corporation by selling 61932 units (0.06%) in June 2009.

Sector-wise, the scheme took fresh exposure to Oil Drilling/Allied Services at 1.49% in June 2009. Sector-wise, the scheme did exit completely from Steel-Sponge Iron at 2.03% in June 2009.

The scheme had highest exposure to Reliance Industries with 18.00 lakh units (9.48% of portfolio size) followed by NTPC with 1.65 crore units (8.42%), Bharti Airtel with 39.99 lakh units (8.35%) and Reliance Petroleum with 1.62 crore units (5.31%) among others in June 2009.

It reduced its exposure from Reliance Industries to 18.00 lakh units (by 0.52%), ICICI Bank by selling 1.35 lakh units to 20.00 lakh units (0.46%), Bharti Airtel by selling 8141 units to 39.99 lakh units (0.41%) and CESC by selling 2202 units to 15.73 lakh units (0.34%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Refineries at 14.79% (from 14.62% in May 2009), followed by Power Generation and Supply at 12.10% (4.74%), Telecommunications-Service Provider at 8.88% (8.76%) and Banks-Private Sector at 8.23% (8.73%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Banks-Private Sector to 8.23% (by 0.50%), Cement-North India to 0.85% (by 0.26%), Steel-Large to 0.96% (by 0.12%) and Diversified-Mega to 1.29% (by 0.08%) among others in June 2009.

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

The scheme has posted negative returns of 7.77% outperforming the S&P CNX Nifty that declined 10.30% over 1 month period ended 14 July 2009.

Over 3 months period, the scheme advanced by 21.02% underperforming the S&P CNX Nifty that gained 21.55%. It rose 2.38% outperforming the benchmark index that increased by 1.77% over 1 year period.

MFs Eyewitness Steady Flow Of 84,000 Crore During June - July 15, 2009

New Delhi: After witnessing strong inflows in the last two months, the mutual funds lost the charm with investors, who pulled out nearly Rs 84,000 crore in June. The combined net outflows into 35 fund houses of the country stood at Rs 83,937 crore in June as against an inflow of Rs 30,148 crore at the end of May, as per data available on the Association of Mutual Funds in India (AMFI) website.

The MF industry witnessed net inflows to the extent of Rs 1,84,340 crore in the first two months of the current financial year.

At the end of June, the investors had pulled out Rs 51,021 crore from income or debt funds while the equity funds witnessed inflows to the tune of Rs 1,493 crore.

During the month of June, the liquid or money market funds, which invest in safer and short-term instruments like treasury bills, certificates of deposit and commercial paper, saw outflows worth Rs 34,378 crore.

Moreover, during the month, the Gilt funds witnessed outflows of Rs 20 crore while balanced funds saw net inflows of Rs 41 crore.

JP Morgan MF Greater China Equity Off-Shore Fund Floats - July 14, 2009

JP Morgan Mutual Fund has launched new fund named as JP Morgan JF Greater China Equity Off-shore Fund, an open-ended fund of funds. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 9 July – 31 July 2009. The fund will re-open on 28 August 2009.

The primary investment objective of the schemes is to provide long term capital appreciation by investing in JPMorgan Funds – JF Greater China Equity Off-shore Fund, an equity fund which invests primarily in a diversified portfolio of companies incorporated or which have their registered office located in, or derive the predominant part of their economic activity from, a country in the Greater China region.

The scheme offers a growth option only and the minimum subscription amount under this option is Rs 10,000 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 up to 80%-100% in units/shares of JP Morgan Funds - JF Greater China Equity Fund. It will invest up to 20% in money market instruments and/or units of liquid schemes.

There will be an entry load of 2.25% for investment amount less than Rs. 5 crore. For investment amount greater or equal to Rs 5 crore, there will be no entry load.

There will be an exit load of 1.00% for investments redeemed within 24 months from the date of allotment.

Benchmark Index for the scheme is MSCI Golden Dragon Index. Namdev Chougule will manage the fund.

HDFC Equity Fund (G) Outperforms The Over All Time Periods - July 14, 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 78197.90 crore at the end of June 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 161.40 per unit as on 13 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 89.94 crore to Rs 3870.795 crore in June 2009.

HDFC Equity Fund (G) took fresh exposure to two stocks in June 2009. The scheme has purchased 62.50 lakh units (1.68%) of Suzlon Energy and 35.50 lakh units (0.67%) of Marico.

The scheme exited completely from Hero Honda Motors by selling 5.50 lakh units (1.95%) in June 2009.

Sector-wise, the scheme took no fresh exposure to any sector in June 2009. Sector-wise, the scheme exits completely from Automobiles-Motorcycles/Mopeds at 1.95% in June 2009.

The scheme had highest exposure to ICICI Bank with 36.50 lakh units (6.81% of portfolio size) followed by State Bank of India with 10.25 lakh units (4.62%), Oil & Natural Gas Corporation with 14.75 lakh units (4.07%) and Rural Electrification Corporation with 94.00 lakh units (3.97%) among others in June 2009.

It reduced its exposure from Axis Bank by selling 7.20 lakh units to 11.05 (by 1.38%), Maruti Suzuki India by selling 4.41 lakh units to 3.08 lakh units (1.19%), United Phosphorus by selling 22.50 lakh to 23.00 lakh units (1.12%) and AIA Engineering by selling 13.56 lakh units to 20.00 lakh units (0.96%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Banks-Public Sector at 9.53% (from 10.41% in May 2009), followed by Banks-Private Sector at 9.37% (8.93%), Pharmaceuticals-Indian-Bulk Drugs & Formulation at 8.09% (6.86%) and Computers-Software-Large at 7.33% (6.89%) among others in June 2009.

Sector wise, the scheme had reduced exposure from Automobiles-Passenger Cars to 0.85% (by 1.19%), Pesticides/Agrochemicals-Indian to 0.85% (by 1.12%), Entertainment/Electronic Media Software to 7.20% (by 1.07%) and Refineries to 0.72% (by 0.90%) among others in June 2009.

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

The scheme has posted negative returns of 6.45% outperforming the S&P CNX 500 Index that declined 12.73% over 1 month period ended 13 July 2009.

Over 3 months period, the scheme advanced by 33.15% outperforming the benchmark index that gained 23.07%.

Return of the scheme rose 13.01% outperforming the benchmark index that down by 1.04% over 1 year period.

Religare Mutual Fund Suggest On Religare Business Leaders Fund - July 14, 2009

Religare MF formally announced the launch of its new fund 'Religare Business Leaders Fund' (an open ended equity scheme). The fund seeks to generate capital appreciation by investing in companies which in Religare AMC's opinion are leaders in their respective industry or Industry segment.

These companies are expected to do better than others in their Industry In all economic environments in terms of growth, margins and profitability.

Typically, companies, which are leaders, are expected to exhibit one or more of the following attributes:

1) Better Pricing Power 2) Superior Cost Structure/Efficiencies 3) Significant Sustainable Competitive Advantages 4) Bettor Access to Capital.

These then reflect in the company being in Top 3 - 5 in terms of market share, having margins and growth rates better than the Industry or Industry segment average.

Speaking on the occasion, Saurabh Nanavatl, Chief Executive Officer, Religare Mutual Fund said, "The ability of business leaders to survive the hard times, when marginal players are taking a beating and thrive In good times makes them an attractive long term investment proposition and this fund is recommended for all investors as core holding for their investment portfolio"

The fund will adopt a bottom up & top down approach to create a diversified portfolio of stocks aided by Religare AMC's proprietary Stock Categorisation Philosophy. The fund universe will consist of leaders across sectors.

In many industries or sectors (total of 38 as per AMFI) the leaders are midcap companies. The fund will therefore invest In both the large cap and midcap space. The fund offers both Growth and Dividend options.

Units will be issued at Rs. 10 per unit plus applicable load. There is no entry load charged for investments made through the SIP route. For Lumpsum purchase, the minimum application amount is Rs. 50007- and in multiples of Re.1/- thereafter.

For SIP investments the minimum application amount Is Rs, 1000/- and in multiples of Re.1/- thereafter per month The minimum tenure for SIP enrollment is 6 months.

The fund is benchmarked to S&P CNX Nifty. The fund opened for subscription on 10th July 2009 and will close for subscription on 31st July 2009.

Added Mr. Saurabh Nanavati, CEO, Religare Mutual Fund "Post acquisition of Lotus Mutual Fund In December 2008, this is the first equity fund launch from the Religare stable.

Religare Mutual Fund had acquired Lotus Mutual Fund with roughly Rs. 3,500 crores in AUM - of which Rs. 2,000 crores were in FMPs maturing by March 2009.

As of June 2009, Religare MF Is Rs, 10,030 crores in average AUM and has risen rapidly In AUM rankings In the last 6 months to being in the top 15 as of June 2009.

The Financial Services space and Asset Management business within that space Is a key focus area for Religare Enterprises and the group is looking at growing this business rapidly through organic and Inorganic opportunities.

Religare Mutual Fund today has a presence in 56 cities through 60 own branches and sales staff and is aiming to further expand this reach to 100 cities in the next 9 months.

In a tough operating environment, we are glad to announce that the promoters have Infused an additional Rs. 35 crores In equity capital on 13th July 2009, in addition to Rs. 37 crores Infused In December 2008.

While the AMC Is breaking even operationally for the last 2 months, the new capital will be utilized for expanding existing business operations, setting up new Infrastructure, Investing In new business opportunities and a brand-building campaign."

Speaking about the newly introduced norms of No Entry-Loads in the MF industry, Mr. Nanavati commented "Norms are changing globally In the financial selling place and disclosures are becoming mandatory In various parts of the world.

The decision has already been taken by SEBI and we need to look ahead. Religare Mutual Fund sees itself as a manufacturer of products and will keep launching new products to complete its product suite in all categories - viz:, equity, debt and alternative asset classes.

We also firmly believe In transparency and the reason for the NFO remaining open only up to 31st July 2009 for 21 days as against 1 month which is the industry norm, Is that Investors should not feel confused with the new SEBI rules of No-Load, coming in force from 1st August 2009, while an NFO opening before 31st July can actually charge the load even after 1st August 2009 as per the SEBI circular,".

Religare Mutual Fund Propose On Religare Business Leaders Fund - July 13, 2009

Religare Mutual Fund has launched new fund named as Religare Business Leaders Fund, an open-ended equity scheme. Each unit will have a face value of Rs.10 each. Details of the Religare Business Leaders Fund: The scheme seeks to generate long term capital appreciation by investing in equity and equity related instruments including equity derivatives of companies which in our opinion are leaders in their respective industry or industry segment.

The scheme offers growth and dividend options. Dividend option will have further dividend reinvestment and payout facilities.

NFO period: 10-31 July 09, The minimum application amount will be Rs 5000 and in multiple 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 80-100% in equity & equity related instruments of companies which in our opinion are leaders in their respective industry or industry segment.

The fund will be having investment exposure 0- 20% in Money Market Instruments & Debt Securities. Investment in securitized debt including pass through certificate (PTC) shall not exceed 20% of the net assets of the scheme.

The scheme may use derivatives for purposes as may be permitted from time to time. The maximum derivative position will be restricted to 50% of the net assets of the scheme.

Load structure during NFO period: Entry Load: Application not routed through any distributor/agent/broker: Nil. Application routed through any distributor/agent/broker:

• In respect of each purchase/switch-in of units less than Rs. 2 crore in value, an entry load of 2.25% is payable.

• In respect of each purchase/switch-in of units equal to or greater than Rs. 2 crore but less than Rs. 5 crore in value, an entry load of 1.25% is payable.

• In respect of each purchase/switch-in of units equal to or greater than Rs. 5 crore in value, no entry load is payable.

Exit Load: In respect of each purchase/switch-in of units less than Rs. 5 crore in value, an exit load of 1% is payable, if units are redeemed/switched-out on or before 1 year from the date of allotment.

• In respect of each purchase/switch-in of units less than Rs. 5 crore in value, no exit load is payable, if units are redeemed/switched-out after 1 year from the date of allotment.

• In respect of each purchase/switch-in of units equal to or greater than Rs. 5 crore in value, no exit load is payable on redemption/switch-out.

• No Entry/Exit Load will be levied on Units issued on dividend reinvested.

• No Entry/Exit Load will be levied on Units issued as bonus units.

• No Entry/Exit Load shall be charged for investments by Fund of Fund Scheme(s) launched under SEBI (Mutual Funds) Regulations, 1996. However, the waiver of entry/exit load will be at the sole discretion of the Trustees and subject to change as the Trustee may decide from time to time.

• During NFO Period, no entry load is payable for switch from existing open ended equity schemes (except Religare Arbitrage Fund) of Religare Mutual Fund to Religare Business Leaders Fund.

Benchmark index: The performance of the scheme is being benchmarked to S & P CNX Nifty.

Fund manager: Vetri Subramaniam is the fund manager for the scheme.

LIC Mutual Fund Sells 35 Per Cent Stake To Nomura - July 13, 2009

LIC Mutual Fund has announced the induction of Nomura Asset Management Company as a strategic partner in India. Nomura Asset Management Company will acquire a stake of 35 per cent in LIC Mutual Fund, for Rs 308 crore. Both the parties have signed an agreement on Saturday. LIC will hold a stake of 45 per cent in the mutual fund while LIC Housing Finance 20 per cent and Nomura 35 per cent.

"Nomura has joined LIC Mutual Fund as a strategic partner by taking a 35 per cent stake in LIC Mutual Fund AMC," Life Insurance Corporation of India's Chairman, T S Vijayan, told reporters here.

LIC Housing Finance during last month diluted its holding in LIC Mutual Fund by selling a stake of 19.3 per cent for 137.5-crore to Nomura.

LIC Mutual Fund's other stake holder, GIC Housing Finance has completely diluted its stake of 11.2 per cent in the asset management company at a valuation of Rs 89-crore.

"LIC and Nomura would launch a series of Customer focused products in the Indian market. Probably, we would also be able to collect money from off-shore and finance it," Vijayan said.

Reliance Mutual Fund Announced Outperforms Equity Fund - July 13, 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 108332.36 crore at end of June 2009.

Reliance Equity Fund (G) an open-ended equity growth scheme launched in February 2006. The primary investment objective of the scheme is 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 capitalized & 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 12.19 per unit as on 10 July 2009.

Portfolio: The total net assets of the scheme decreased by Rs 62.01 crore to Rs 2232.02 crore in June 2009.

Reliance Equity Fund (G) took fresh exposure to one stock in June 2009. The scheme has purchased 10.02 lakh units (1.20%) of Hindustan Unilever

The scheme exited completely from Suzlon Energy by selling 34.76 lakh units (1.48%) in June 2009.

Sector-wise, the scheme took fresh exposure to Personal Care- Multinational at 1.20% in June 2009.

Sector-wise, the scheme did exit completely from Electric Equipment at 1.48% in June 2009.

The scheme had highest exposure to State Bank of India with 8.90 lakh units (6.95% of portfolio size) followed by Oil & Natural Gas Corporation with 12.00 lakh units (5.74%), Divis Laboratories with 11.19 lakh units (5.60%) and Reliance Infrastructure with 9.03 lakh units (4.85%) among others in June 2009.

It reduced its exposure from Reliance Industries to 4.57 lakh units (by 0.38%), State Bank of India to 8.90 lakh units (0.29%), Financial Technologies (India) to 6.06 lakh units (0.23%) and Reliance Infrastructure to 9.03 units (0.16%) among others in June 2009.

Sector-wise, the scheme had highest exposure to Telecommunications-Service Provider at 9.52% (from 9.72% in May 2009), followed by Banks-Public Sector at 6.95% (7.24%), Computers-Software-Large at 6.56% (6.49%) and Oil Drilling/Allied Services at 5.74% (5.19%) among others in June 2009.

Sector-wise, the scheme had reduced exposure from Refineries to 4.15% (by 0.38%), Banks-Public Sector to 6.95% (by 0.29%), Computers-Software-Medium/Small to 3.55% (by 0.23%) and Telecommunications - Service Provider to 9.52% (by 0.20%) among others in June 2009.

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

The scheme has posted negative returns of 8.43% outperforming the Nifty (S&P CNX) that declined 12.64% over 1 month period ended 10 July 2009.

Over 3 months period, the scheme advanced by 22.47% outperforming the Nifty (S&P CNX) Index that gained 19.80%. It rose 4.69% outperforming the benchmark index that declined by 1.11% over 1 year period.

AIG Mutual Fund Announce AIG India Equity Fund Time Periods - July 10, 2009

Background: AIG Global Investment Group (AIGGIG) is a worldwide leader in asset management, with extensive capabilities in equity, fixed income, hedge funds, private equity and real estate. AIG Global Asset Management Company (India) a member company of AIG Global Investment Group manages assets worth Rs 1547.88 crore as on June 2009.

AIG India Equity Fund (G) an open-ended equity diversified fund launched in May 2007. The objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 8.68 per unit as on 9 July 2009.

Portfolio: The total net assets of the scheme decreased by Rs 13.21 crore to Rs 488.61 crore in June 2009.

AIG India Equity Fund (G) took fresh exposure to twenty stocks in May 2009. The scheme has purchased 2.96 lakh units (5.93%) of Container Corporation of India, 1.03 lakh units (3.75%) of Infosys Technologies, 1.44 lakh units (3.54%) of Glaxosmithkline Pharma and 4.22 units (3.49%) of Thermax among others.

The scheme exited completely from Reliance Industries by selling 1.79 lakh units (8.15%), Housing Development Finance Corporation by selling 1.24 lakh units (5.43%), Oil & Natural Gas Corporation by selling 1.98 lakh units (4.66%) and HDFC Bank by selling 1.50 lakh units (4.32%) among others in May 2009.

Sector-wise, the scheme took fresh exposure to Computers-Software-Large at 3.75%, Pharmaceuticals-Multinational at 3.54%, Engineering at 3.49% and Diversified-Large at 1.93% among others in May 2009.

Sector-wise, the scheme did exit completely from Refineries at 8.15%, Finance-Housing at 5.43%, Oil Drilling/Allied Services at 4.66% and Banks-Private Sector at 4.32% among others in May 2009.

The scheme had highest exposure to Shree Cement with 2.90 lakh units (7.05% of portfolio size) followed by Bharti Airtel with 4.20 lakh units (6.90%), State Bank of India with 1.75 lakh units (6.25%) and Hero Honda Motors with 2.00 lakh units (5.75%) among others in May 2009.

It reduced its exposure from Bharat Heavy Electricals by selling 35220 units to 1.05 lakh units (by 1.34%), HCL Infosystems by selling 5.48 lakh units to 2.57 lakh units (1.26%), ITC by selling 3.48 lakh units to 11.51 lakh units (1.00%) and CESC by selling 799 units to 3.50 units (1.03%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Banks-Public Sector at 18.31% (from 10.07% in April 2009), followed by Cement-North India at 7.05% (2.55%), Telecommunications-Service Provider at 6.90% (4.91%) and Automobiles-Motorcycles/Mopeds at 5.75% (2.40%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Pharmaceuticals-Indian-Bulk Drugs & Formulation to 1.61% (by 2.68%), Electric Equipment to 4.74% (by 1.34%), Computers-Hardware to 0.61% (by 1.87%) and Cigarettes to 4.49% (by 1.00%) among others in May 2009.

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

The scheme has posted negative returns of 2.54% outperforming the BSE 100 that declined 8.57% over 1 month period ended 09 July 2009.

Over 3 months period, the scheme advanced by 34.02% outperforming the BSE 100 that gained 30.93%. It rose by 4.91% outperforming the benchmark index that was down by 0.94% over 1 year period.