tag:blogger.com,1999:blog-17408642330138795992024-03-09T03:40:55.510+05:30Mutual Funds : Indian-commodity.comUnknownnoreply@blogger.comBlogger2583125tag:blogger.com,1999:blog-1740864233013879599.post-15023291203875162942009-08-03T14:47:00.002+05:302009-08-03T14:48:59.025+05:30Sumi :)http://www.blogger.com/profile/10021096969939168915noreply@blogger.com18tag:blogger.com,1999:blog-1740864233013879599.post-75244408171098651082009-08-01T14:48:00.001+05:302009-08-01T14:50:29.206+05:30Sahara Mutual Fund Revises Shipment Structure - August 01, 2009<div style="text-align: justify;">Sahara Mutual Fund has decided to revise the entry and exit load structure of various schemes of the fund house, with effect from 1 August 2009. Entry Load: Entry load for all existing open ended schemes of the fund house shall be Nil.<br /><br />Exit Load: The fund house has revised the entry load for Sahara Growth Fund, Sahara Infrastructure Fund, Sahara Wealth Plus Fund, Sahara Power & Natural Resources Fund, Sahara Tax Gain Fund, Sahara Banking and Financial Services Fund, Sahara Midcap Fund, Sahara super 20 Fund (post unit allotment).<br /><br />An exit load of 1% will be charged, if redeemed on or before 36 months and the entry load will be nil, if redeemed after 36 months.<br /><br />Out of the exit load, contingent deferred sales charge (CDSC) 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 payment of commissions and to meet other marketing and selling expenses.<br /><br />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/plan immediately. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-76683653020875743962009-08-01T14:46:00.000+05:302009-08-01T14:48:40.910+05:30LIC Mutual Fund Modify Mountain Structure - August 01, 2009<div style="text-align: justify;">LIC Mutual Fund has decided to revise the entry and exit load structure of all the 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 plans/systematic transfer plans accepted by the fund.<br /><br />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.<br /><br />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/plans in a separate account and will be utilized for payment of commissions to the ARN holders and meet other marketing and selling expenses.<br /><br />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.<br /></div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-1740864233013879599.post-34953515361546069072009-08-01T14:45:00.001+05:302009-08-01T14:46:25.603+05:30Edelweiss Mutual Fund Announces Change In Load Structure - August 01, 2009<div style="text-align: justify;">Edelweiss Mutual Fund has announced change in exit and entry load for its new Plan A, Plan B and Plan C in Edelweiss Nifty Enhancer Fund, with effect from 1 August 2009. Entry Load: The entry load will be nil for Plan A, Plan B and Plan C. Exit Load: For Plan A, an exit load of 1.00% will be charged upto 365 days, from 365 days upto 1095 days, the exit load charge will be 0.75% and the exit load will be nil for 1096 days and above.<br /><br />For Plan B, an exit load of 1.00% will be charged upto 180 days, from 181days upto 365 days, the exit load charge will be 0.50% and the exit load will be nil for 365 days and above.<br /><br />For Plan C, an exit load of 1.00% will be charged upto 180 days, from 181days upto 365 days, the exit load charge will be 0.75%, from 366 days upto 545 days, the exit load charge will be 0.50%, from 546 days upto 730 days, the exit load charge will be 0.25% and nil for 366 days and above.<br /><br />Expiry day trigger load: For Plan A, 0.50% will be charged upto 1095 days and the charge will be nil for 1096 days and above.<br /><br />For Plan B, 0.50% will be charged upto 180 days and the charge will be nil for 181 days and above.<br /><br />For Plan C, 0.50% will be charged upto 365 days and the charge will be nil for 366 days and above.</div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-1740864233013879599.post-64561902690068109082009-07-31T18:18:00.000+05:302009-07-31T18:19:55.708+05:30Taurus Mutual Fund Improve Consignment Composition - July 31, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-66863990149324390082009-07-31T17:18:00.002+05:302009-07-31T17:21:01.102+05:30Fortis Mutual Fund Revises Load Structure - July 31, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-85686415306801162412009-07-31T17:11:00.002+05:302009-07-31T17:18:37.867+05:30JM Equity Fund Outperforms The Over Three Months Time Period - July 31, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />Today, JM Financial Mutual Fund offers a bouquet of funds that caters to the diverse needs of both its institutional and individual investors.<br /><br />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.<br /><br />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.<br /><br />Portfolio: The total net assets of the scheme decreased by Rs 1.11 crore to Rs 51.81 crore in June 2009.<br /><br />JM Equity Fund (G) took fresh exposure to one stock in June 2009. The scheme has purchased 70186 units (2.58%) of ITC.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-28279398788453096572009-07-30T18:14:00.002+05:302009-07-30T18:16:19.634+05:30Bharti AXA Mutual Fund Improve Consignment Structure - July 30, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-22163590997319572542009-07-30T17:12:00.000+05:302009-07-30T17:14:47.707+05:30Religare Mutual Fund In SIP Upto Exempts From PAN - July 30, 2009<div style="text-align: justify;">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.<br /><br />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:<br /><br />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.<br /><br />The exemption will not be applicable to normal purchase transaction up to Rs 50000 which will continue to be subject to PAN requirement.<br /><br />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. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-14126680731008833452009-07-30T17:07:00.001+05:302009-07-30T17:12:04.270+05:30Fortis Equity Fund Underperforms Over Most Of The Time Periods - July 30, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />The scheme will invest in a range of companies, with a bias towards large and medium market capitalization companies.<br /><br />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.<br /><br />Portfolio: The total net assets of the scheme decreased by Rs 3.02 crore to Rs 104.81 crore in June 2009.<br /><br />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.<br /><br />The scheme exited completely from Asian Paints by selling 2220 units (0.22%) in June 2009.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-1740864233013879599.post-77891438812099133572009-07-29T17:34:00.002+05:302009-07-29T17:37:01.065+05:30Sahara Midcap Fund Outperforms The Over Most Of The Time Period - July 29, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.<br /><br />The scheme aims to achieve long term capital growth at medium level of risks by investing primarily in mid-cap stocks.<br /><br />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.<br /><br />The AMC may choose to actively thread on the portfolio of the fund in order to achieve the investment objective.<br /><br />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.<br /><br />Portfolio: The total net assets of the scheme increased by Rs 0.27 crore to Rs 8.22 crore in June 2009.<br /><br />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.<br /><br />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.<br /><br />Sector-wise, the scheme took fresh exposures in Pesticides/Agrochemicals-Indian at 2.34%, Hotels at 2.03% and Construction at 1.66%.<br /><br />Sector-wise, the scheme exits completely from Shipping at 2.24% and Personal Care-Indian at 1.49% in June 2009.<br /><br />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<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />Performance: The performance of scheme is benchmarked against CNX Midcap. The scheme has outperformed the benchmark index over most of the time period.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-55219512662026896012009-07-29T17:27:00.001+05:302009-07-29T17:33:00.377+05:30AIG Mutual Fund Revises Load Construction - July 29, 2009<div style="text-align: justify;">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.<br /><br />Similarly, there will be no entry load with respect to applications for registrations under systematic investment plans/systematic transfer plans accepted by the fund.<br /><br />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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-80521234761592910792009-07-29T17:23:00.002+05:302009-07-29T17:27:25.278+05:30Religare Mutual Fund Improve Of Shipment Structure - July 29, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.<br /><br />However, the fund house also made changes in the exit load structure/Contingent Deferred Sales Charge (CDSC).<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-65844167734682640742009-07-28T18:00:00.000+05:302009-07-28T18:04:34.038+05:30ICICI Prudential Mutual Fund Floats On R.I.G.H.T. Fund - July 28, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.<br /><br />The minimum subscription amount is Rs 500 and in multiples of Rs 500 thereof.<br /><br />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.<br /><br />The Scheme will invest in securitized debt upto 50% of debt portfolio only if it is permitted under the ELSS Guidelines in future.<br /><br />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<br /><br />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<br /><br />Benchmark Index for the scheme is S&P CNX Nifty Index. Prashant Kothari will be the fund manager of the scheme. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-2991378321384135262009-07-28T17:24:00.001+05:302009-07-28T17:26:32.939+05:30Kotak Mutual Fund Revises Load Structure - July 28, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.<br /><br />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. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-36211046470305924402009-07-28T17:22:00.002+05:302009-07-28T17:24:53.610+05:30Birla Sun Life Equity Fund Outperforms The Months Time Periods - July 28, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.<br /><br />Portfolio: The total net assets of the scheme increased by Rs 161.20 crore to Rs 1112.11 crore in June 2009.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-35284528487742867942009-07-27T17:11:00.000+05:302009-07-27T17:14:17.943+05:30UTI Mutual Fund Declares Dividend For Transportation Fund - July 27, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />The fund will invest in the companies' stocks which form the part if infrastructure industries.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-43174484106761523742009-07-27T17:08:00.001+05:302009-07-27T17:11:17.087+05:30Birla Sun Life Mutual Fund Changes In Birla Sun Life Medium Term Plan - July 27, 2009<div style="text-align: justify;">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.<br /><br />Existing investors under this option will continue to be honored as per the features as defined in scheme information document.<br /><br />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. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-84262255594383404412009-07-27T17:02:00.003+05:302009-07-27T17:08:47.302+05:30Religare Equity Fund The Over One Month And One Year Time Periods - July 27, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />The scheme aims to generate long-term capital growth from a focused portfolio of predominantly equity and equity-related securities.<br /><br />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.<br /><br />Portfolio: The total net assets of the scheme increased by Rs 0.61 crore to Rs 47.01 crore in June 2009.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />Sector-wise, the scheme did not exit completely from any sector in June 2009.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-90967239977721090462009-07-25T13:52:00.000+05:302009-07-25T13:53:57.041+05:30IDFC Mutual Fund Declares Dividend - July 25, 2009<div style="text-align: justify;">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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-30941187281958501492009-07-25T13:50:00.000+05:302009-07-25T13:52:06.293+05:30Sbi Mutual Fund Pronounce Dividend - July 25, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />The fund may also evaluate emerging business with growth potential and domestic focus. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-59507136858870018232009-07-24T16:43:00.002+05:302009-07-24T16:49:07.621+05:30IDFC Mutual Fund Announces Change In Management - July 24, 2009<div style="text-align: justify;">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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-20838515927648018782009-07-24T16:41:00.000+05:302009-07-24T16:43:55.080+05:30Birla Sun Life Mutual Fund Offers Dividend In Quarterly Interval Fund - July 24, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-119157198308018692009-07-24T16:35:00.003+05:302009-07-24T16:41:32.638+05:30HSBC Mutual Fund Underperforms The Equity Fund - July 24, 2009<div style="text-align: justify;">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.<br /><br />The objective of the scheme is to generate long term capital growth from an actively managed portfolio of equity and equity related securities.<br /><br />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.<br /><br />Portfolio: The total net assets of the scheme increased by Rs 14.76 crore to Rs 1492.18 crore in June 2009.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />Performance: The performance of scheme is benchmarked against BSE 200. The scheme has underperformed the benchmark index over all time periods.<br /><br />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.<br /><br />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.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1740864233013879599.post-15551005580837775922009-07-23T16:56:00.001+05:302009-07-23T16:58:42.940+05:30UTI Mutual Fund Announces Various Changes - July 23, 2009<div style="text-align: justify;">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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />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. </div>Unknownnoreply@blogger.com0