Mutual Funds : Indian-commodity.com

2009-08-03T14:47:00.002+05:30

Sahara Mutual Fund Revises Shipment Structure - August 01, 2009

2009-08-01T14:48:00.001+05:30

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.

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).

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.

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.

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.

LIC Mutual Fund Modify Mountain Structure - August 01, 2009

2009-08-01T14:46:00.000+05:30

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.

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/plans 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.

Edelweiss Mutual Fund Announces Change In Load Structure - August 01, 2009

2009-08-01T14:45:00.001+05:30

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.

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.

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.

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.

For Plan B, 0.50% will be charged upto 180 days and the charge will be nil for 181 days and above.

For Plan C, 0.50% will be charged upto 365 days and the charge will be nil for 366 days and above.

Taurus Mutual Fund Improve Consignment Composition - July 31, 2009

2009-07-31T18:18:00.000+05:30

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

2009-07-31T17:18:00.002+05:30

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

2009-07-31T17:11:00.002+05:30

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

2009-07-30T18:14:00.002+05:30

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

2009-07-30T17:12:00.000+05:30

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

2009-07-30T17:07:00.001+05:30

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

2009-07-29T17:34:00.002+05:30

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

2009-07-29T17:27:00.001+05:30

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

2009-07-29T17:23:00.002+05:30

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

2009-07-28T18:00:00.000+05:30

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

2009-07-28T17:24:00.001+05:30

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

2009-07-28T17:22:00.002+05:30

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

2009-07-27T17:11:00.000+05:30

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

2009-07-27T17:08:00.001+05:30

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

2009-07-27T17:02:00.003+05:30

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

2009-07-25T13:52:00.000+05:30

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

2009-07-25T13:50:00.000+05:30

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

2009-07-24T16:43:00.002+05:30

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

2009-07-24T16:41:00.000+05:30

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

2009-07-24T16:35:00.003+05:30

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

2009-07-23T16:56:00.001+05:30

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

2009-07-23T16:54:00.001+05:30

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

2009-07-23T16:40:00.000+05:30

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

2009-07-22T16:58:00.002+05:30

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

2009-07-22T16:51:00.002+05:30

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

2009-07-22T16:45:00.002+05:30

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

2009-07-21T16:58:00.001+05:30

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

2009-07-21T16:55:00.001+05:30

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

2009-07-21T16:43:00.002+05:30

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

2009-07-20T16:59:00.001+05:30

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

2009-07-20T16:15:00.002+05:30

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

2009-07-20T16:09:00.002+05:30

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

2009-07-18T14:18:00.001+05:30

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

2009-07-18T14:15:00.001+05:30

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

2009-07-18T14:12:00.000+05:30

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

2009-07-17T18:29:00.001+05:30

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

2009-07-17T17:27:00.000+05:30

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

2009-07-17T17:25:00.001+05:30

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

2009-07-16T17:06:00.001+05:30

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

2009-07-16T17:02:00.001+05:30

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

2009-07-16T16:53:00.004+05:30

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

2009-07-15T17:01:00.002+05:30

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

2009-07-15T16:56:00.002+05:30

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

2009-07-14T17:04:00.000+05:30

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

2009-07-14T16:57:00.002+05:30

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

2009-07-14T16:47:00.001+05:30

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

2009-07-13T16:04:00.004+05:30

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

2009-07-13T15:57:00.003+05:30

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

2009-07-13T15:50:00.002+05:30

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

2009-07-10T16:35:00.004+05:30

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.

DSP Blackrock Mutual Fund Floats On World Energy Fund - July 10, 2009

2009-07-10T16:31:00.003+05:30

DSP BlackRock Mutual Fund has launched DSP BlackRock World Energy Fund. It is an open ended fund of funds. The face value of the new issue will be Rs 10 per unit. The new issue will be opened for subscription from 10 July-31 July 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 30 August 2009.

The primary investment objective of the scheme is to seek capital appreciation by investing predominantly in the units of BlackRock Global Funds-World Energy Fund and BlackRock Global Funds-New Energy Fund.

The scheme may, at the discretion of the investment manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus.

The scheme may also invest a certain portion of its corpus in money market securities and/or money market/liquid schemes of DSP BlackRock Mutual Fund, in order to meet liquidity requirements from time to time.

Investment option: The scheme offers two plans viz. regular and institutional plan with growth and dividend option. The dividend option further offers dividend payout and dividend reinvest facility.

Minimum application amount: The minimum investment amount under regular 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 subscription amount of Rs 1 crore during NFO period.

Asset allocation: The scheme will invest 50-100% in units of BlackRock Global Funds (BGF)-World Energy Fund (WEF) or other similar overseas mutual fund scheme(s) with high risk profile.

It will invest 0- 30% in units of BlackRock Global Funds (BGF)-New Energy Fund (NEF) or other similar overseas mutual fund scheme(s) with high risk profile (in the shares of BGF-WEF and BGF-NEF, an Undertaking for Collective Investment in Transferable Securities (UCITS) III fund).

It will also invest 0-20% in money market securities and/or units of money market/liquid schemes of DSP BlackRock Mutual Fund with low to medium risk.

Load structure: Regular Plan: Entry load: The scheme will levy an entry load of 2.25% for investments less than Rs. 5 crore of the initial value of Rs. 10 during NFO/applicable NAV during continuous offer.

For investments of Rs. 5 crore and above, no entry load will be charged. No entry load on direct applications, i.e. applications not routed through a distributor/agent/broker.

Exit load: 1% will be the exit load for holding period less than 6 months from the date of allotment. 0.50% exit load for holding period more than 6 months but less than 12 months from the date of allotment. While no exit load will be levied for holding period more than 12 months.

Institutional Plan: There will be no entry load and exit load.

Benchmark index: 70% MSCI World Energy (Net) and 30% MSCI World (Net).

Fund Manager: Vinit Sambre will be fund manager for the scheme.

Canara Robeco Mutual Fund Changes Announces - July 10, 2009

2009-07-10T16:28:00.001+05:30

Canara Robeco Mutual Fund has proposed to change/add sub options under dividend option of Canara Robeco Short Term Fund with effect from 15 July 2009 as under:

Retail plan: Existing Growth and dividend (payout facility and reinvestment facility as sub option).

Revised: Growth and dividend (introduction of weekly dividend option with dividend every Wednesday of the week and reinvestment facility as sub options).

Conversion of existing dividend option to monthly dividend option with payout facility at last Wednesday of the month and reinvestment facility as sub options.

Institutional plan: Existing Growth and dividend (payout facility and reinvestment facility as sub option).

Revised: Growth and dividend (introduction of weekly dividend option with dividend every Wednesday of the week and reinvestment facility as sub options).

Conversion of existing dividend option to monthly dividend option with payout facility at last Wednesday of the month and reinvestment facility as sub options.

The investment objective of Canara Robeco Short Term Fund is to generate income from a portfolio constituted of short to medium term debt and money market securities.

Reliance MF Declares Surplus For Monthly Interval Fund - July 09, 2009

2009-07-09T17:40:00.000+05:30

Reliance Mutual Fund has declared dividend under dividend option of Reliance Interval Fund – Monthly Interval Fund -Series I. The record date for the dividend is 14 July 2009. The fund house has decided to offer dividend on the face value of Rs 10 per unit for both plans viz. retail and institutional plans. The quantum of dividend will be 100% of distributable surplus as on the record date.

The NAV for the scheme under retail plan was Rs 10.0341 per unit and under institutional plan was Rs 10.0288 per unit as on 07 July 2009.

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

UTI Mutual Fund Revises Shipment Composition - July 09, 2009

2009-07-09T17:12:00.001+05:30

UTI Mutual Fund has revised load structure for UTI Mahila Unit Scheme with effect from 6 July 2009. The changes are, Revised Structure: Entry load (as % of NAV): 1.50%, Exit load (as % of NAV): 3% if exited before 1 year. 2% if exited on or after 1 year but before 2 years and 1% exit load if exited on or after 2 years.

The existing structure: Entry load (as % of NAV): 1.50%, Exit load (as % of NAV): 0.75% if exited within 1 year.

UTI Mahila Unit Scheme is an open ended debt oriented scheme with an investment objective to invest in a portfolio of equity/equity related securities and debt and money market instruments with a view to generate reasonable income with moderate capital appreciation.

ING Mutual Fund Declare Contra Fund Of Outperforms - June 09, 2009

2009-07-09T16:55:00.003+05:30

Background: The ING Group established its presence in India in 1992, when it opened a representative office of the ING Bank. It opened its first branch in Mumbai in 1994. ING Group has promoted ING Investment Management (India) Private Limited as a company incorporated in India for the purpose of carrying on asset management activities.

The group has a 75% holding in this company. The fund house manages assets worth Rs. 2396.77 crore at the end of June 2009.

ING Contra Fund (G) an open-ended equity scheme launched in January 2006. The objective of the scheme to generate capital appreciation from a diversified portfolio of equity and equity related instruments by investing in stocks of companies, which are fundamentally sound but are undervalued.

However, there can be no assurance that the investment objective of the Scheme will be achieved.

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 12.07 per unit as on 8 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 0.95 crore to Rs 11.24 crore in June 2009.

ING Contra Fund (G) took fresh exposure to two stocks in May 2009. The scheme has purchased 38827 units (2.48%) of Indian Hotels Company, 6018 units (2.05%) of CESC

The scheme exited completely from Jain Irrigation Systems by selling 2406 units (1.64%) in May 2009.

Sector-wise, the scheme took fresh exposure to Hotels at 2.48% in May 2009. Sector-wise, the scheme did exit completely from Plastics Products at 1.64% in May 2009.

The scheme had highest exposure to Reliance Industries with 2992 units (6.62% of portfolio size) followed by ICICI Bank with 4996 units (3.60%), Indian Oil Corporation with 5872 units (3.48%) and Ranbaxy Laboratories with 12005 units (3.25%) among others in May 2009.

It reduced its exposure from Tata Power Company by selling 1310 units to 2000 units (by 1.96%), Bajaj Auto by selling 1799 units to 1810 units (1.34%), Larsen & Toubro to 1102 units (1.17%) and Chambal Fertilisers & Chemicals by selling 18045 units to 24000 units (1.03%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Refineries at 15.93% (from 15.58% in April 2009), followed by Banks-Private Sector at 6.47% (6.57%), Banks-Public Sector at 6.30% (6.31%) and Computers-Software-Medium/Small at 5.17% (3.09%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Automobiles-Scooters and 3-Wheelers to 1.81% (by 1.34%), Fertilizers to 3.59% (by 1.27%), Engineering-Turnkey Services to 1.23% (by 1.17%) and Sugar to 0.93% (by 0.98%) among others in May 2009.

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

The scheme has posted negative returns of 7.01% underperformed the BSE 100 that declined 5.88% over 1 month period ended 08 July 2009. Over 3 months period, the scheme advanced by 39.86% outperformed the BSE 100 that gained 31.47%. It rose by 13.44% outperforming the benchmark index that was up by 3.36% over 1 year period.

Franklin Templeton Mutual Fund Files An Offer Article With Sebi - July 08, 2009

2009-07-08T16:25:00.001+05:30

Name of Fund: Templeton India Income Opportunities Fund, Scheme: An open ended Income Fund, Investment Objective: To provide regular income and capital appreciation by investing in fixed income securities across the yield curve. Investment Options: The scheme will offer growth and dividend plan (with reinvestment and payout options).

Where the unitholder has opted for dividend payout option and in case the amount of dividend payable to the unitholder is Rs 20 or less, the same will be compulsorily reinvested in the scheme.

Asset Allocation: The scheme will invest upto 100% in government securities and/or securities unconditionally guaranteed by central/state government for repayment of principal and interest.

Upto 100% in debt securities issued by public sector undertakings (PSU). Upto 100% in debt securities issued by private sector corporate including banks and financial institutions. Upto 100% in securitized debt and upto 100% in money market instruments.

NFO price: Rs 10 per unit, Load structure: The scheme will not charge any entry load. But will charge an exit load up to 7%.

Minimum Investment Amount: The minimum investment amount is Rs 5000 and additional purchase in multiples of Re 1 thereafter.

Minimum Target amount: The fund seeks to collect a minimum targeted amount of Rs 1 crore during NFO.

Benchmark Index: Crisil Short Term Bond Fund Index. Fund Managers: Vivek Ahuja ans Sachin Padwal-Desai will manage the fund.

IDFC Mutual Fund Offer Dividend In Arbitrage Fund - July 08, 2009

2009-07-08T16:16:00.001+05:30

IDFC Mutual Fund has approved to declare dividend in the dividend option of IDFC Arbitrage Fund (IDFC- AF)-Plan A and Plan B. The fund house has decided to distribute Rs 0.04 per unit as dividend on the record date of 13 July 2009. The scheme recorded NAV of Rs 10.2946 per unit for plan A and Rs 10.4397 per unit for plan B as on 6 July 2009.

IDFC Arbitrage Fund was launched in November 2006. The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments.

Escort Mutual Fund Growth Plan Under The Time Periods - July 08, 2009

2009-07-08T16:11:00.003+05:30

Background: Escorts Assets Management was set up in April 1996. The Mutual Fund is sponsored by Escorts Finance Ltd. The objectives of the Mutual Fund, inter alia include contribution to the development of the capital market and providing facilities for participation by holders of Units of the Mutual Fund in the profits or income arising there from. The fund house manages assets worth Rs 201.45 crore at end of June 2009.

Escort Growth Plan (G) an open-ended equity diversified scheme launched in February 2001. The scheme aims at providing long term capital appreciation from a diversified portfolio across all sectors and scrips.

The minimum investment amount is Rs 1000 and in multiples of Rs 1000 thereafter. The unit NAV of the scheme was Rs 53.40 as on 6 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 0.61 crore to Rs 3.27 crore in May 2009.

Escort Growth Plan (G) took fresh exposure to seventeen stocks in May 2009. The scheme has purchased 485 units (3.38%) of Reliance Industries, 4856 units (3.02%) of Selan Explorations Technology, 4880 units (2.38%) of Sterlite Technologies and 2432 units (2.13%) of Shiv-Vani Oil & Gas Exploration Services among others.

The scheme exited completely from Welspun Gujarat Stahl Rohren by selling 10059 units (3.80%), K S Oils by selling 20043 units (3.46%), Bank of Rajasthan by selling 20164 units (3.23%) and Elecon Engineering Company by selling 19976 units (3.23%) among others in May 2009.

Sector-wise, the scheme took fresh exposure to Oil Drilling/Allied Services at 5.15%, Cables-Telephone at 2.38%, Computers-Software-Converts at 1.80% and Telecommunications-Service Provider at 1.69% among others in May 2009.

Sector-wise, the scheme did exit completely from Steel-Large at 6.38%, Solvent Extraction at 3.46%, Fertilizers at 2.53% and Steel-Sponge Iron at 2.06% in May 2009.

The scheme had highest exposure to Genus Power Infrastructures with 10139 units (6.91% of portfolio size) followed by Kalindee Rail Nirman (Engineers) with 8080 units (4.09%), Action Construction Equipments with 32647 units (3.30%) and Jubilant Organosys with 5985 units (3.19%) among others in May 2009.

It reduced its exposure from Yes Bank by selling 8921 units to 4140 units (by 2.20%), Rolta India by selling 5999 units to 4051 units (1.57%), GTL Infrastructure to 13909 units (1.16%) and Jubilant Organosys by selling 1494 units to 5985 units (0.06%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Engineering at 9.74% (from 13.59% in April 2009), followed by Electronics-Components at 6.91% (5.85%), Electric Equipment at 3.71% (2.27%) and Refineries at 3.38% (1.35%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Banks-Private Sector to 1.59% (by 5.43%), Engineering to 9.74% (by 3.85%), Castings & Forgings to 0.86% (by 2.24%) and Construction to 2.24% (by 1.83%) among others in May 2009.

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

The scheme has posted negative returns of 12.84% underperformed the Nifty that declined 8.39% over 1 month period ended 06 July 2009.

Over 3 months period, the scheme advanced by 47.51% outperformed the Nifty that gained 29.03%. It fell by 13.65% underperformed the benchmark index that was up by 4.27% over 1 year period.

ICICI Pru MF Ultra Short Term Plan Revises Exit Load Structure - July 07, 2009

2009-07-07T16:45:00.001+05:30

ICICI Prudential Mutual Fund has approved revision in the exit load structure under ICICI Prudential Ultra Short Term Plan excluding Systematic investment plan and System Transfer Plan, effective from July 6, 2009. Accordingly, the scheme will charge an entry load of 0.25% of applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of upto 15 days from the date of allotment.

However, the scheme will not charge any exit load, if the amount sought to be redeemed or switched out is invested for a period of more than 15 days from the date of allotment.

ICICI Prudential Ultra Short Term Plan is an open ended income fund that intends to generate regular income through investments in a basket of debt as well as money market instruments of very short maturities.

Tata Life Sciences And Technology Fund Offers Dividend - July 07, 2009

2009-07-07T16:42:00.001+05:30

Tata Mutual Fund has declared dividend under dividend option of Tata Life Sciences & Technology Fund. The record date for the dividend distribution is set as July 10, 2009. The quantum of dividend will be Rs 20% i.e. Rs 2.00 per unit on face value of Rs 10 per unit. The NAV of the scheme was at Rs 26.1554 per unit as on July 2, 2009.

Tata Life Sciences & Technology Fund is an open-ended equity fund, with an investment objective to medium to long term capital gains and/or income distribution along with capital gains tax relief to its unitholder, while at all times emphasizing the importance of capital appreciation.

DSP Black Rock World Gold Fund Declares Dividend - July 07, 2009

2009-07-07T16:36:00.001+05:30

DSP BlackRock Mutual Fund has declared dividend in dividend option of DSP BlackRock World Gold Fund, an open ended fund of funds scheme investing in gold mining companies. The record date for the dividend distribution is set as July 10, 2009. The quantum of the dividend will be Rs 1.313917 per unit for individuals while Rs 1.222893 per unit for others. The NAV as on July 2, 2009 was 12.5140 per unit.

The primary investment objective is to seek capital appreciation by investing predominantly in units of BlackRock Global Funds - world Gold Fund.

The scheme may also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant par of its corpus.

Bharti AXA Mutual Fund Revises Entrance Consignment Construction - July 06, 2009

2009-07-06T15:47:00.000+05:30

Bharti AXA Mutual Fund has announced the change in the exit load structure under regular as well as eco plan of the Bharti AXA Equity Fund, with effect from July 6, 2009. It also revises the exit load for the investment through SIP/STP. Accordingly, the scheme will charge an exit of 2.00% for the investment below Rs 5 crore, if redeemed within 1 year from the date of allotment.

However, the exit load will be nil after one year. The scheme will not charge any exit load for the investment amount of Rs 5 core and above.

Currently, the scheme will charge an exit of 1.00% for the investment below Rs 5 crore, if redeemed within 6 months from the date of allotment.

However, the exit load will be nil after six months. Moreover, the scheme will not charge any exit load for the investment amount of Rs 5 core and above.

ICICI Pru Ultra Short Term Plan Revise Leave Fill Organization - July 06, 2009

2009-07-06T15:18:00.001+05:30

ICICI Prudential Mutual Fund has approved revision in the exit load structure under ICICI Prudential Ultra Short Term Plan excluding Systematic investment plan and System Transfer Plan, with effect from 6 July 2009. Accordingly, the scheme will charge an entry load of 0.25% of applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of upto 15 days from the date of allotment.

And the scheme will not charge any exit load, if the amount sought to be redeemed or switched out is invested for a period of more than 15 days from the date of allotment.

ICICI Prudential Ultra Short Term Plan is an open ended income fund that intends to generate regular income through investments in a basket of debt and money market instruments of very short maturities with a view to providing reasonable returns, while maintaining an optimum balance of safety, liquidity and yield.

UTI Mutual Fund Declare Dividend Of Equity Fund - July 06, 2009

2009-07-06T15:13:00.000+05:30

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, with an objective of investing at least 80% of its funds in equity and equity related instrument with medium to high risk profile and up to 20% in debt and money market instruments with low to medium risk profile.

The minimum investment amount is Rs 5000 and in multiples of Rs 1000 thereafter. The unit NAV of the scheme was Rs 36.78 per unit as on 3 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 261.77 crore to Rs 1454.50 crore in May 2009.

UTI Equity Fund (G) took fresh exposure to eleven stocks in May 2009. The scheme has purchased 9.40 lakh units (1.12%) of Steel Authority of India, 8.97 lakh units (0.87%) of IRB Infrastructure Developers and 2.70 lakh units (0.86%) of Bharat Petroleum Corporation among others.

The scheme exited completely from LIC Housing Finance by selling 1.72 lakh units (0.53%), Century Textiles & Industries by selling 1.43 lakh units (0.28%) and Bajaj Financial services by selling 66355 units (0.12%) among others in May 2009.

Sector-wise, the scheme took fresh exposure to Domestic Appliances at 0.01% in May 2009. Sector-wise, the scheme exited completely from Finance & Investments at 0.12% in May 2009.

The scheme had highest exposure to State Bank of India with 5.13 lakh units (6.60% of portfolio size) followed by Reliance Industries with 3.08 lakh units (4.81%), Axis Bank with 6.10 lakh units (3.27%) and Oil & Natural Gas Corporation with 3.58 lakh units (2.88%) among others in May 2009.

It reduced its exposure from Nestle India by selling 90000 units to 2.42 lakh units (by 1.88%), ITC by selling 5.00 lakh units to 19.31 lakh units (1.41%), Tata Tea by selling 1.09 lakh units to 1.96 lakh units (0.80%) and Gujarat Industries Power by selling 13.00 lakh units to 46873 units (0.65%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Banks-Private Sector at 10.27% (from 9.00% in April 2009), followed by Banks-Public Sector at 8.36% (5.54%), Refineries at 7.32% (3.75%) and Food-Processing-MNC at 4.77% (6.98%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Food-Processing-MNC to 4.77% (by 2.21%), Cigarettes to 2.44% (by 1.41%), Tea to 0.94% (by 0.80%) and Finance-Housing to 1.00% (by 0.61%) among others in May 2009.

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

The scheme has posted negative returns of 0.94% outperforming the BSE 100 that fell 1.43% over 1 month period ended 3 July 2009.

Over 3 months period, the scheme advanced by 35.12% underperforming the benchmark index that gained 48.47%. It rose 11.49% underperforming the benchmark index that gained 11.80% over 1 year period.

JM Financial Mutual Fund Announces Dividend For JMQIF-2 - July 04, 2009

2009-07-04T14:37:00.000+05:30

JM Financial Mutual Fund has decided 7 July 2009 as the record date for dividend distribution under the dividend option of regular and institutional plan of JM Interval Fund-Quarterly Plan 2 (JMQIF-2). The fund house has decided to distribute dividend upto the realized appreciation in the NAV of the Plan/option till the record date.

The scheme recorded NAV of Rs 10.1679 per unit under regular plan and Rs 10.1739 per unit under institutional plan as on 2 July 2009.

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

Birla Sun Life Mutual Fund India Gennext Fund Declares Dividend - July 04, 2009

2009-07-04T14:34:00.000+05:30

Birla Sun Life Mutual Fund has decided to offer dividend under dividend option of Birla Sun Life India GenNext Fund. The record date for the dividend is 08 July 2009. The quantum of dividend will be 20.00% i.e. Rs 2.00 per unit on the face value of Rs 10 per unit. The NAV of the scheme was at Rs 13.43 per unit under as on 02 July 2009.

Birla Sun Life India GenNext Fund is an open ended growth scheme which seeks to target growth of capital by investing in equity/equity related instruments of companies that are expected to benefit from the consumption habits of the young generation in India.

Bharti AXA Mutual Fund Revise Outlet Pack Arrangement - July 04, 2009

2009-07-04T14:31:00.001+05:30

Bharti AXA Mutual Fund has announced the change in the exit load structure under regular and eco plan of the Bharti AXA Equity Fund, with effect from 6 July 2009. It also revise the exit load for the investment through SIP/STP. Regular Plan:

Revised exit load: The scheme will charge an exit of 2.00% for the investment below Rs 5 crore, if redeemed within 1 year from the date of allotment.

After one year the exit load will be nil. The scheme will not charge any exit load for the investment amount of Rs 5 core and above.

Current exit load: The scheme will charge an exit of 1.00% for the investment below Rs 5 crore, if redeemed within 6 months from the date of allotment.

After six months the exit load will be nil. The scheme will not charge any exit load for the investment amount of Rs 5 core and above.

Eco Plan & Investment through SIP/STP: Revised exit load: 2.00% of exit load will be levied, if redeemed within 1 year form date of allotment.

Current exit load: 1.00% of exit load will be levied, if redeemed within 6 months form date of allotment.

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

HSBC Mutual Fund Underperforms Over Most Of The Time Periods - July 03, 2009

2009-07-03T16:29:00.003+05:30

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 manages assets worth Rs 9660.88 crore as on June 2009. HSBC India Opportunities Fund (G) an open-ended equity diversified scheme launched in January 2004.

The objective of the scheme is to seek long-term capital growth from diversified portfolio of equity and equity related securities and fixed income securities.

The fund will invest accross all market capitalisations, including small, mid and large cap stocks. The fund aims to be predominantly invested in equity and equity related securities.

However, it could move a significant portion of its assets towards fixed income securities if the fund becomes negative on equity markets.

The minimum investment amount is Rs 10000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 27.67 as on 2 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 51.01 crore to Rs 359.65 crore in June 2009.

HSBC India Opportunities Fund (G) took fresh exposure to five stocks in May 2009. The scheme has purchased 2.11 lakh units (2.28%) of Aurobindo Pharma, 44,829 units (1.59%) of Reliance Infrastructure and 4.32 lakh units (1.14%) of Gateway Distriparks among others.

The scheme exited completely from Punjab National Bank by selling 71970 units (1.11%) and Infrastructure Development Finance Company by selling 4.06 lakh units (1.01%) among others in May 2009.

Sector-wise, the scheme took fresh exposure to Textiles-Products at 1.08% and Construction at 1.02% in May 2009.

Sector-wise, the scheme did exit completely from Finance & Investments at 1.18% in May 2009.

The scheme had highest exposure to Reliance Industries with 1.25 lakh units (7.96% of portfolio size) followed by State Bank of India with 90487 units (4.70%), HDFC Bank with 1.08 lakh units (4.34%) and Infosys Technologies with 90174 units (4.02%) among others in May 2009.

It reduced its exposure from ITC by selling 44145 units to 7.64 lakh units (by 1.05%), Hindustan Unilever by selling 45749 units to 3.59 lakh units (0.77%), Cipla by selling 22881 units to 2.34 lakh units (0.55%) and Bharti Airtel by selling 10054 units to 1.29 lakh units (0.44%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Refineries at 12.74% (from 12.40% in April 2009), followed by Banks-Private Sector at 6.75% (5.35%), Pharmaceuticals-Indian-Bulk Drugs & Formulation at 5.52% (3.76%) and Computers-Software-Large at 5.25% (5.85%) among others in May 2009.

Sector-wise, the scheme had reduced exposure from Cigarettes to 3.91% (by 1.05%), Personal Care-Multinational to 2.31% (by 0.77%), Banks-Public Sector to 4.70% (by 0.70%) and Computers-Software-Large to 5.25% (by 0.60%) among others in May 2009.

Performance: The performance of scheme is benchmarked against BSE 500. The scheme has underperformed the benchmark index over most of the time periods.

The scheme has posted returns of 0.04% outperformed the BSE 500 that declined 1.36% over 1 month period ended 02 July 2009.

Over 3 months period, the scheme advanced by 32.30% underperformed the BSE 500 that gained 48.84%. It fell by 2.57% underperformed the benchmark index that was up by 6.0% over 1 year period.

IDFC Mutual Fund Introduces New Plan - July 03, 2009

2009-07-03T16:25:00.001+05:30

IDFC Mutual Fund has introduced the Plan B under IDFC Enterprises Equity Fund with effect from 6 July 2009. Introduction of new plan: The IDFC Enterprises Equity Fund will introduce Plan B with effect from 6 July 2009. The Plan B under the scheme will have growth and dividend option. Dividend option will offer payout and reinvestment.

The offer price for the new plan will be Rs 10 per unit at applicable NAV thereafter. The minimum application amount will be Rs 5000. In SIP minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.

Entry Load: For purchase/switch in: The scheme will not charge any entry load for purchase (including by way of switch-ins and purchases made through SIP/STP). For purchases (irrespective of the amount) by an FOF the entry load is nil.

Exit Load: The scheme will charge 1.00% of applicable NAV as an exit load in case of purchases of less than Rs 5 crore, if redeemed within 1 year from the date of purchase applying first in first out basis (including purchases made through SIP/STP). And will not charge any exit load for purchases of Rs 5 crore or more.

The investment objective, asset allocation pattern, benchmark, applicable NAV etc of the plan B shall be the same as that of the existing plan. All other terms and condition shall remain unchanged.

Existing portfolio (plan) is the scheme shall be renamed as IDFC Enterprises Equity Fund-Plan A.

The minimum amount for Systematic Investment Plan (SIP) in IDFC Enterprises Equity Fund-Plan A shall be Rs 1000 and in multiples of Re 1.

Hereafter the load structure of IDFC Enterprises Equity Fund-Plan A shall be as follows:

Entry Load: The scheme will charge an entry load of 2.25% for the purchase of amount less than Rs 5 crore and it will charge nil for the purchase of amount more than Rs 5 crore.

Exit load: The scheme will charge an exit load of 1.00% for the purchase of amount less than Rs 5 crore, if redeemed within 1 year from the date of purchase applying first in first out basis, and it will charge nil for the purchase of amount more than Rs 5 crore. For purchases (irrespective of the amount) by an FOF the entry load is nil.

IDFC MF Revises Exit Load Structure For Diverse Funds - July 03, 2009

2009-07-03T16:19:00.002+05:30

IDFC Mutual Fund has approved revision of exit load structure in IDFC Super Saver Income Fund-Short Term-Plan A, IDFC Super Saver Income Fund-Short Term-Plan C, IDFC Super Saver Income Fund-Investment Plan-Plan A, IDFC Super Saver Income Fund-Investment Plan-Plan C and IDFC Government Securities Fund-Short Term Plan-Plan A with effect from 6 July 2009.

The revised exit load: IDFC Super Saver Income Fund-Short Term-Plan A: 0.50% of NAV shall be applicable in case of investors who purchase/switch in amounts less than or equal to Rs 1 crore and redeem/switch out such investments within 6 months such from the date of effecting such purchase/switch.

Investors opting for PEP/Dividend reinvestment option/SWP or switch between options within the plan will not be levied an exit load, no exit load shall be applicable in case of purchases/switch ins of amounts shall be applicable in case of purchase/switch ins of amounts greater than Rs 1 crore whether redeemed partly or fully.

IDFC Super Saver Income Fund-Short Term-Plan C: Nil

IDFC Super Saver Income Fund-Investment Plan-Plan A: 1.25% of NAV shall be applicable in case of investors who purchase/switch in amounts less than or equal to Rs 1 crore and redeem/switch out such investments within 1 year from the date of effecting such purchase/switch in.

Investors option for PEP/dividend reinvestment option/SWP or switch between options within the plan will not be levied an exit load.

No exit laod shall be applicable in case of purchase/switch ins of amount greater than Rs 1 crore whether redeem partly or fully.

IDFC Super Saver Income Fund-Investment Plan-Plan C: Nil

IDFC Government Securities Fund-Short Term Plan-Plan A: 0.25% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 30 days from the date of effecting such purchase/switch in.

Investor opting for PEP/dividend reinvestment option/SWP or switch between options will not be levied an exit load.

Principal Pnb Mutual Fund Files An Offer Document With Sebi - July 02, 2009

2009-07-02T16:53:00.001+05:30

Name of Fund: Principal Pnb Fixed Maturity Plan 91 Days – Series XXI, Scheme: A close ended debt scheme, Investment Objective: To build an income oriented portfolio and generate returns through investment in Debt/Money Market Instruments and Government Securities.

Investment Options: The scheme will offer institutional and regular plan with growth and dividend option.

Asset Allocation: The scheme will invest its entire corpus in debt securities (including securitised debt) and money market instruments.

And also invest upto 100% in government securities with low risk profile. Investment in securitised debt may be upto 100% of the net assets of the scheme.

Debt instruments may include securitised debt up to 100% of the net assets & exposure in interest rate derivatives may be undertaken as permitted under SEBI guidelines.

NFO price: Rs 10 per unit, Load structure: The scheme will not charge any entry load. Since the plan will be listed on the stock exchange, no exit load will be charged.

Minimum Investment Amount: The minimum investment amount under the institutional plan is Rs 5 lakh per application. And the minimum investment amount under the regular plan is Rs 1000 per application.

Minimum Target amount: The Fund seeks to collect a minimum targeted amount of Rs 10 lakh during NFO.

Benchmark Index: CRISIL Liquid Fund Index. Fund Managers: Badrish Kulhalli will manage the fund.

Mutual Fund AUM Rose By 5 Per Cent In June - July 02, 2009

2009-07-02T16:47:00.001+05:30

Mutual fund industry registered a rise in its Average Asset Under management (AAUM) for the third consecutive month in June 2009. The combined AAUM of the 35 fund houses in the industry has increased by 4.99% (Rs 31863.31 crore) to Rs 6.70 lakh crore in June 2009 compared with Rs 6.39 lakh crore in May 2009, according to the data released by the Association of Mutual Funds in India (AMFI).

AUM of funds of funds (FoFs) stood with Rs 725.60 crore in June 2009. The industry witnessed a rise of 18.81% in June 09 over June 08, the highest growth in 12 months.

The rising AUM is seen in the month of April, May and in June 09. The AUM increase in the month of April 09 was mainly contributed by heavy institutional inflows, the increase in May 2009 was the result of major retail participation and in the June 09 the growth is largely on account of the inflows in liquid funds and short term income funds.

The spurt in equity markets has also added to the asset size of the industry. Mutual Funds were net buyers of Rs 839.30 crore in the equity market and net buyer of Rs 10739.50 crore in debt market in the month of June 2009.

The 35 fund houses have posted its AAUM in June 2009. 26 fund houses out of 35 fund houses have recorded positive inflow and remaining 9 fund houses has posted negative inflow.

Among the fund houses with AAUM between Rs 1 lakh- 50000 the top three funds recorded an inflow in June 2009. Reliance Mutual fund continued to be in the first position with AAUM of Rs 1.08 lakh crore in June 2009, a rise of 5.45% in June 2009 over May 2009.

HDFC MF retained its second position with the average AUM of Rs 78197.90 crore a rise of 3.70% compared with the month of May 09 and ICICI Mutual Fund stood third with an AAUM of Rs 70169.46 crore and it rose by 7.05% in June 2009 over May 2009.

Among the other top mutual funds in this category, UTI MF jumped 7.05% to Rs 67978.19 in June 2009.

While, Birla Sun Life MF was down by 0.54% at Rs 56282.87 crore and SBI MF also witnessed a fall of 1.10% to Rs 34061.04 crore in June 2009 over May 2009.

Reliance MF registered the highest inflow in AUM of Rs 5602.21 crore followed by ICICI Pru MF with a net inflow of Rs 4619.86 crore.

While Canara Robeco MF witnessed highest net outflow of Rs 427.48 crore and SBI MF witnessed outflow of Rs 380.17 crore in June 2009.

In the category of fund houses maintaining AUM between Rs 10000 -35000 crore, LIC MF jumped 13.34% to Rs 34061 crore in the month of June 2009 over May 2009 and it was followed by Kotak Mahindra MF has gone up by 8.81% to Rs 30833.02 crore in June 2009 and Tata MF was down by 0.38% to Rs 21222.81 crore in June 2009.

In the category of MFs maintaining AAUM between Rs 10000 - 1000 crore Morgan Stanley MF went up by 19.65% to Rs 2208.36 crore and DBS Chola MF has risen by 16.18% to Rs 2508.51 crore in June 2009 over May 2009.

On the other hand Canara Robeco fell by 5.31% to Rs 7624.00 crore and JP Morgan MF witnessed a fall of 4.79% to Rs 3766.36 crore in June 2009.

Smaller fund houses with relatively smaller corpus having AAUM less than Rs 1000 crore also has registered rise in their AUM.

Edelweiss MF has doubled its AAUM to Rs 44.79 crore from Rs 20.24 crore, Quantum MF went up by 11.11% to Rs 66.64 crore.

However, Bharti AXA MF has gone down by 10.60% to Rs 243.22 crore in June 2009 and Taurus MF was down by 6.05% to Rs 561.27 crore in June 2009 over May 2009.

ING MF Core Equity Fund Under Performs The Instance Of Periods - July 02, 2009

2009-07-02T16:42:00.003+05:30

Background: The ING Group established its presence in India in 1992, when it opened a representative office of the ING Bank. It opened its first branch in Mumbai in 1994. ING Group has promoted ING Investment Management (India) Private Limited as a company incorporated in India for the purpose of carrying on asset management activities.

The group has a 75% holding in this company. The fund house manages assets worth Rs. 2396.77 crore at the end of June 2009.

ING Core Equity Fund (G) an open-ended equity scheme launched in March 1999. The objective of the scheme to provide long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities.

The portfolio is designed to have concentrated holding with reasonable risk limits, rather than an unproductive and excess diversification and would be overweight in growth stocks.

This scheme was merged on 19 May 2008 with ING Select Stocks Fund (name changed to ING Core Equity Fund).

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 27.93 per unit as on 1 July 2009.

Portfolio: The total net assets of the scheme increased by Rs 11.10 crore to Rs 57.43 crore in May 2009.

ING Core Equity Fund (G) took fresh exposure to three stocks in May 2009. The scheme has purchased 11997 units (1.97%) of Reliance Capital, 25020 units (0.83%) of Max India and 12574 units (0.28%) of Vardhman Textiles.

The scheme exited completely from Divis Laboratories by selling 5504 units (1.01%), Bharati Shipyard by selling 57167 units (1.00%), and Zydus Wellness by selling 7675 units (0.12%) in May 2009.

Sector-wise, the scheme took fresh exposure to Finance & Investments at 1.97%, Packaging at 0.83% and Textiles-Cotton/Blended at 0.28% in May 2009.

Sector-wise, the scheme did exit completely from Food-Processing-Indian at 0.12% in May 2009

The scheme had highest exposure to Reliance Industries with 20234 units (8.03% of portfolio size) followed by Bharti Airtel with 34969 units (4.99%), HDFC Bank with 16520 units (4.15%) and ICICI Bank with 31475 units (4.06%) among others in May 2009.

It reduced its exposure from Infosys Technologies by selling 4997 units to 13591 units (by 2.26%), Tata Consultancy Services by selling 9305 units to 35 units (1.26%), ITC to 1.15 lakh units (1.02%) and Indraprastha Gas by selling 31638 units to 43295 units (0.89%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Refineries at 10.95% (from 10.54% in April 2009), followed by Banks-Public Sector at 9.39% (8.27%), Banks-Private Sector at 8.21% (7.18%) and Telecommunications-Service Provider at 6.12% (6.65%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Computers-Software-Large to 3.79% (by 3.52%), Pharmaceuticals-Indian-Bulk Drugs to 1.46% (by 1.89%), Cigarettes to 3.70% (by 1.02%) and Pharmaceuticals-Indian-Bulk Drugs & Formulation to 5.30% (by 0.70%) among others in May 2009.

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

The scheme has posted returns of 0.22% outperformed the BSE 100 that declined 1.30% over 1 month period ended 01 July 2009.

Over 3 months period, the scheme advanced by 44.27% underperformed the BSE 100 that gained 52.29%.

It rose by 6.16% underperformed the benchmark index that was up by 13.43% over 1 year period.

Canara Robeco Mutual Fund Declares Of Gilt PGS Dividend - July 01, 2009

2009-07-01T16:14:00.001+05:30

Canara Robeco Mutual Fund has declared dividend under dividend option of Canara Robeco Gilt PGS. The record date for the dividend is set as 6 July 2009. The quantum of the dividend will be 7.50% i.e. Re 0.7500 per unit on the face value of Rs 10 per unit on record date. The NAV of scheme was at Rs 11.9387 per unit as on 29 July 2009.

The investment objective of the scheme is to provide risk free return and long term capital appreciation by investing only in government securities.

DSP Black Rock Mutual Fund Declares Dividend For FMP - July 01, 2009

2009-07-01T16:12:00.001+05:30

DSP BlackRock Mutual Fund has declared dividend in dividend option of the regular and institutional plan of DSP BlackRock Fixed Maturity Plan-12M-Series 1, closed ended income scheme. The record date for the dividend is set as 05 July 2009. The quantum of the dividend is as follows.

Regular Plan: For individuals: Rs 0.310960 per unit, For Others: Rs 0.289418 per unit, NAV as on 24 June 2009: 10.3355 per unit

Institutional Plan: For Individuals: Rs 0.333560 per unit, For Others: Rs 0.310452 per unit, NAV as on 24 June 2009: 10.3611 per unit

Investment Objective: The scheme seeks capital appreciation by investing in a portfolio of debt and money market securities.

It is envisaged that the portfolio will display a maturity profile that is generally in line with the term of the scheme.

Morgan MF India Equity Fund Under Perform The Periods - July 01, 2009

2009-07-01T15:59:00.003+05:30

Background: J. P. Morgan Asset Management India was approved by SEBI to act as the asset management company for the Fund on 12 February 2007. The fund house manages assets worth Rs 3955.88 crore as on May 2009. JP Morgan India Equity Fund (G) an open-ended equity-diversified scheme launched in April 2007.

The objective of the scheme is to generate income and long-term capital growth 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 Rs.1000 thereafter. The unit NAV of the scheme was Rs 9.38 as on 30 June 2009.

Portfolio: The total net assets of the scheme increased by Rs 129.89 crore to Rs 744.31 crore in May 2009.

JPMorgan India Equity Fund (G) took fresh exposure to two stocks in May 2009. The scheme has purchased 1.24 lakh units (2.14%) of Reliance Infrastructure and 5.57 lakh units (1.53%) of Union Bank of India.

The scheme exited completely from Hindustan Unilever by selling 5.99 lakh units (2.29%) and Nestle India by selling 76403 units (2.12%) in May 2009.

Sector-wise, the scheme took fresh exposure to Diversified-Mega at 1.59%, Pharmaceuticals-Indian-Bulk Drugs at 1.33%, Automobiles-Motorcycles/Mopeds at 1.17% and Steel-Sponge Iron at 1.08% among others in May 2009.

Sector-wise, the scheme did exit completely from Personal Care-Multinational at 2.29% and Food-Processing-MNC at 2.12% in May 2009

The scheme had highest exposure to Reliance Industries with 2.99 lakh units (9.16% of portfolio size) followed by ICICI Bank with 4.99 lakh units (4.97%), HDFC Bank with 2.25 lakh units (4.37%) and Larsen & Toubro with 2.26 lakh units (4.28%) among others in May 2009.

It reduced its exposure from Bharti Airtel by selling 1.82 lakh units to 1.77 lakh units (by 2.44%), ITC by selling 4.96 lakh units to 10.01 lakh units (2.14%), Infosys Technologies to 1.44 lakh units (0.43%) and HDFC Bank by selling 34057 units to 2.25 lakh units (0.28%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Banks-Private Sector at 9.34% (from 9.03% in April 2009), followed by Refineries at 9.16% (8.82%), Banks-Public Sector at 4.65% (2.59%) and Engineering-Turnkey Services at 4.28% (3.25%) among others in May 2009.

Sector wise, the scheme had reduced exposure from Telecommunications-Service Provider to 1.96% (by 2.44%), Cigarettes to 2.47% (by 2.14%), Computers-Software-Large to 3.12% (by 0.43%) and Diversified-Mega to 1.55% (by 0.04%) among others in May 2009.

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

The scheme has posted returns of 1.76% outperforming the BSE 200 that declined 0.32% over 1 month period ended 30 June 2009.

Over 3 months period, the scheme advanced by 47.58% underperforming the BSE 200 that gained 57.67%. It rose by 2.33% underperforming the benchmark index that was up by 7.48% over 1 year period.

Shinsei Mutual Fund On PSU Bond Fund Declare - June 30, 2009

2009-06-30T16:45:00.002+05:30

Shinsei Mutual Fund has launched Shinsei PSU Bond Fund. It is an open ended income scheme. The face value of the new issue will be Rs 10 per unit. The new issue will be opened for subscription from 30 June to 6 July 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 14 July 2009.

The investment objective of the scheme is to generate reasonable returns commensurate with low risk, high liquidity, from a portfolio constituted of money market instruments and short term debt instruments with residual maturity of up to 91 days.

The Scheme offers Ultra Short Term Plan. Under this Plan, the Scheme seeks to keep the average residual maturity of the portfolio of the Plan at less than one year.

The Fund offers two plans under Ultra Short Tern Plan viz. Retail and Institutional Plan. Each plan will have growth and dividend options.

Under retail plan dividend suboption (Quarterly-25th of every calendar quarter end)the scheme will offer pay-out facility and reinvestment facility.

Under institutional option dividend sub option has daily dividend reinvestment facility and monthly (25th of every calendar month) dividend option with dividend payout facility and dividend reinvestment facility.

The minimum investment amount under retail option Rs 10000 and in multiples of Re 1 thereafter and under institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter.

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

The scheme will invest 80-100% in debt securities including securitised debt issued by public sector undertakings and nationalized banks, and government securities.

It will invest up to 20% in debt securities including securitised debt issued by undertakings other than public sector undertakings.

The scheme will not charge any entry load in the retail plan. But will charge an exit load of 0.50%, if redeemed within three months from the date of allotment of units under the retail plan.

For institutional option, the scheme will not charge any entry nor exit load. The schemes performance will be benchmarked against Crisil Liquid Fund Index. Killol Pandya will be the fund manager for the scheme.

Shinsei Mutual Fund On Liquid Fund Floats - June 30, 2009

2009-06-30T16:42:00.000+05:30

Shinsei Mutual Fund has launched Shinsei Liquid Fund. It is an open ended liquid scheme. The face value of the new issue will be Rs 10 per unit. The new issue will be opened for subscription from 30 June to 6 July 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 14 July 2009.

The investment objective of the scheme is to generate reasonable returns commensurate with low risk, high liquidity, from a portfolio constituted of money market instruments and short term debt instruments with residual maturity of up to 91 days.

The Fund offers two plans viz. Retail and Institutional Plan. Each plan will have growth and dividend options.

Dividend option will offer reinvestment facility having frequencies of daily and weekly -every Monday.

The minimum investment amount under retail option Rs 10000 and in multiples of Re 1 thereafter and under institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter.

The scheme seeks to collect a minimum corpus of Rs 1 crore during NFO period. The scheme will invest 80-100% in money market instruments with maturity of up to 91 days with low to medium risk profile.

It will invest up to 20% in debt securities with maturity of up to 91 days with low to medium risk profile.

The scheme will not charge any entry or exit load. The schemes performance will be benchmarked against Crisil Liquid Fund Index. Killol Pandya will be the fund manager for the scheme.

Sundaram BNP Paribas Select Focus Underperforms - June 30, 2009

2009-06-30T16:37:00.003+05:30

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 12413.43 crore in May 2009. Sundaram BNP Paribas Select Focus (G) an open-ended equity scheme launched in June 2002.

The objective of the scheme is to achieve capital appreciation by investing in very few select stocks.

The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter. The unit NAV of the scheme was Rs 69.87 per unit as on 29 June 2009.

Portfolio: The total net assets of the scheme increased by Rs 301.72 crore to Rs 1212.18 crore in May 2009.

Sundaram BNP Paribas Select Focus (G) took fresh exposure to six stocks in May 2009. It has purchased 26.96 lakh units (4.79%) of NTPC, 8.23 lakh units (2.51%) of Lanco Infratech, 8.78 lakh units (2.44%) of Tata Motors and 28.34 lakh units (1.98%) of Hindalco Industries among others.

The scheme exited completely from Bharat Petroleum Corporation by selling 4.69 lakh units (1.99%), Ambuja Cements by selling 19.58 lakh units (1.74%), India Cements by selling 13.01 lakh units (1.64%) and Pantaloon Retail (India) by selling 6.33 lakh units (1.31%) among others in May 2009.

Sector-wise, the scheme took fresh exposure to Engineering at 2.51%, Automobiles-LCVs/HCVs at 2.44%, Aluminium and Aluminium Products at 1.98% and Finance & Investments at 1.76% in May 2009.

Sector-wise, the scheme exited completely from Cement-North India at 1.74%, Cement-South India at 1.64% and Textiles-Products at 1.32% among others in May 2009.

The scheme had highest exposure to Reliance Industries with 5.17 lakh units (9.72% of portfolio size) followed by ICICI Bank with 11.97 lakh units (7.32%), Oil & Natural Gas Corporation with 5.34 lakh units (5.19%) and Jaiprakash Associates with 27.52 lakh units (4.71%) among others in May 2009.

It reduced its exposure to Bharti Airtel by selling 1.69 lakh units to 4.48 lakh units (by 2.05%), ITC by selling 66992 units to 18.46 lakh units (by 1.17%), Punjab National Bank by selling 2.28 lakh units to 4.52 lakh units (by 1.07%) and Tata Consultancy Services by selling 18295 units to 6.13 lakh units (by 0.78%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Power Generation and Supply at 15.90% (from 10.35% in April 2009), followed by Construction at 9.94% (5.97%), Refineries at 9.73% (11.61%) and Banks-Private Sector at 8.79% (6.49%) among others in May 2009.

Sector-wise, the scheme had reduced exposure to Telecommunications-Service Provider to 5.58% (by 2.58%), Refineries to 9.73% (by 1.89%), Banks-Public Sector to 6.84% (by 1.48%) and Entertainment/Electronic Media Software to 1.79% (by 1.44%) among others in May 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 negative returns of 2.79% underperforming the S&P CNX Nifty that declined 1.30% over 1 month period ended 29 June 2009.

Over 3 months period, the scheme advanced by 41.5% outperforming the S&P CNX Nifty that gained 41.25%. It fell 0.03% outperforming the benchmark index that was up by 6.15% over 1 year period.

DSP Blackrock MF Enhanced Equity Fund Seeks Sebi Approval - June 29, 2009

2009-06-29T17:08:00.000+05:30

DSP BlackRock Mutual Fund has filed offer document with Securities and Exchange Board of India (Sebi) to launch DSP BlackRock Enhanced Equity Fund, an open-ended equity diversified scheme. The face value of the new issue will be Rs 10 per unit.

Features of the scheme: Investment objective: The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in equity and equity related securities of companies listed in stock exchanges in India.

The Investment Manager will endeavour to have a long exposure in equity and equity related securities (including equity derivatives) up to a maximum of 130% of the net asset value and short exposure through equity and equity related securities (including equity derivatives) up to a maximum of 30% such that the net equity exposure does not exceed 100% of the net asset value of the Scheme.

Investment option: The scheme offers two plans viz. regular and institutional plan with growth and dividend option. The dividend option further offers dividend payout and dividend reinvest facility.

Minimum application amount: The minimum investment amount under regular plan will be Rs 5000 and in multiples of Re 1 thereafter and under institutional plan minimum investment amount will be Rs 5 crore and in multiples of Re 1 thereafter.

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

Asset allocation: The scheme will invest 65-130% in long exposure in equity and equity related securities of companies listed in Indian Stock Exchanges (including equity derivatives) with high risk profile.

It will have investment exposure of 0-30% in short exposure in equity and equity related securities of companies listed in Indian Stock Exchanges (including equity derivatives) with high risk profile.

The scheme will invest up to 35% in debt and money market securities with low to medium risk profile.

The net equity exposure i.e. long exposure less short exposure to equity and equity related securities cannot exceed 100% of the net asset value of the Scheme.

Load structure: Regular Plan: Entry load: For investments less than Rs. 5 crore the scheme will levy an entry load of 2.25% of the initial value of Rs. 10 during NFO/applicable NAV during continuous offer. For investments of Rs. 5 crore and above, no entry load will be charged.

No entry load on direct applications, i.e. applications not routed through a distributor/agent/broker.

Exit load: For investment amount less than Rs 5 crore, 1% will be the exit load for holding period less than 6 months from the date of allotment. 0.50% exit load for holding period more than 6 months but less than 12 months from the date of allotment. While no exit load will be levied for holding period more than 12 months.

Institutional Plan: There will be no entry load and exit load.

Benchmark index: Benchmark for comparing the performance of the Scheme is BSE 100.

Fund Manager: Apoorva Shah will be fund manager for the scheme.

HDFC Mutual Fund Revises Way Out Consignment - June 29, 2009

2009-06-29T17:05:00.000+05:30

HDFC Mutual Fund has decided to revise exit load (non SIP/STP) in HDFC Arbitrage Fund-Whole Sale Plan. The details are: Exit load- Revised Provision: In respect of each purchase/switch-in of units, an exit load of 1% is payable if units are redeemed/switched-out within 12 months from the allotment date.

However, no exit load is payable if the units are redeemed/switched-out after 12 months from the date of allotment.

Existing Provision: In respect of each purchase/switch-in of units, 0.50% as exit load is payable if units are redeemed/switched-out within 3 months from the date of allotment.

However, no exit load is payable if units are redeemed/switched-out after 3 months from the allotment date.

The aforesaid change will be applicable on a prospective basis from July 1, 2009 in respect of investments made in HDFC Arbitrage Fund-Whole Sale Plan.

Kotak MF Announces Suspension Of Subscription Of Units - June 29, 2009

2009-06-29T17:00:00.001+05:30

Kotak Mutual Fund has announced the suspension of subscription of the units of Kotak Equity Arbitrage Fund, with effective from July 1, 2009. Given the scheme's large size as well as prevailing market conditions, in the interest of the scheme and the existing unitholders, the subscription of units in the scheme will remain suspended.

However, the scheme will continue to issue to the investor already registered under the dividend reinvestment option and will continue to accept subscriptions from investor already registered under Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP).

Moreover, no fresh registrations shall be accepted via SIP/STP. During this suspension period, the redemptions (including switch-out) would continue to allow as per the terms of the scheme information document. Meanwhile, all the other terms and conditions will remain unchanged.

SBI Mutual Fund Declares Dividend For Various Debt Funds - June 27, 2009

2009-06-27T14:09:00.000+05:30

SBI Mutual Fund has declared dividend under the dividend option of SBI Debt Fund Series-13 Months- 8 as well as SBI Debt Fund Series-13 Months- 9, SBI Debt Fund Series-13 Months- 10, SBI Debt Fund Series-18 Months- 3, SBI Debt Fund Series-370 Days- 1 and SBI Debt Fund Series-370 Days- 1.

The dividend will be declared for both retail as well as institutional plans. The record date for the dividend distribution is set as June 29, 2009.

The fund house has decided to distribute the following amount of dividend on the record date on face value of Rs 10 per unit:

SBI Debt Fund Series-13 Months- 8. The dividend for Individual & HUF Investors and other investors under both retail as well as institutional plan will be 2.752% (i.e. Rs 0.2752 per unit).

The NAV of the scheme under retail plan was at Rs 10.5453 per unit while under the institutional plan it was at Rs 10.6055 per unit as on June 22, 2009

Moreover, SBI Debt Fund Series-13 Months- 9. The dividend for Individual & HUF Investors under both retail and institutional plan will be 0.985% (i.e. Rs 0.0985 per unit).

The NAV of the scheme under retail plan was at Rs 10.1383 per unit while under institutional plan was at Rs 10.1819 per unit as on June 22, 2009.

Edelweiss Mutual Fund Announces Change In Benchmark - June 27, 2009

2009-06-27T14:05:00.000+05:30

Edelweiss Mutual Fund has announced the change in the benchmark of Edelweiss Diversified Growth Equity Fund (E.D.G.E), with effect from 1 July 2009. The benchmark of the fund will be changed to S&P CNX Nifty comprising of 50 scrips from BSE 500. The change is being effected to bring in line the benchmark index with the investment strategy of the scheme and the new benchmark reflects the investment strategy better than previous benchmark.

The scheme will invest in companies that are large/broad market capitalisation based. Since the fund will not restrict itself from investing in any particular size/type of company, it is best to have a broad based index for such a fund. Hence, S&P CNX Nifty is appropriate benchmark for the fund.

HDFC Mutual Fund Revises Way Out Shipment - June 27, 2009

2009-06-27T14:00:00.000+05:30

HDFC Mutual Fund has decided to revise exit load (non SIP/STP) in HDFC Arbitrage Fund-Whole Sale Plan. The details are: Exit load: Revised Provision: In respect of each purchase/switch-in of units, an exit load of 1% is payable if units are redeemed/switched-out within 12 months from the date of allotment.

No exit load is payable if units are redeemed/switched-out after 12 months from the date of allotment.

Existing Provision: In respect of each purchase/switch-in of units, an exit load of 0.50% is payable if units are redeemed/switched-out within 3 months from the date of allotment.

No exit load is payable if units are redeemed/switched-out after 3 months from the date of allotment.

The aforesaid change will be applicable on a prospective basis from 1 July 2009 in respect of investments made in HDFC Arbitrage Fund-Whole Sale Plan.

HDFC Arbitrage Fund is an open ended equity fund, the objective of the scheme is to generate income through arbitrage opportunities between cash and derivatives market and arbitrage opportunities within the derivative segment and by deployment of surplus cash in debt securities and money market instruments.

Quantum MF Equity Fund Of Funds Floats Scheduled - June 26, 2009

2009-06-26T16:51:00.002+05:30

Quantum Mutual Fund has launched initial offer period of Quantum Equity Fund of Funds, an open-ended equity fund of funds scheme. The fund will remain open for fresh subscription from 26 June to 13 July 2009. The fund will reopen for continuous subscription from 22 July 2009. The face value of the new issue will be Rs 10 per unit.

The investment objective of the scheme is to generate long-term capital appreciation by investing in a portfolio of open-ended diversified equity schemes of mutual funds registered with Sebi.

The scheme offers two plans-growth plan & dividend plan. The dividend plan will in turn have two options, dividend payout option and dividend re-investment option The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

The scheme will not charge an entry load. The fund will charge 1.5% as redemption load if repurchase/redemption is made within 1 year from the date of allotment.

Quantum Equity Fund of Funds will invest 90-100% in open ended equity diversified schemes of mutual funds registered with Sebi with high-risk profile.

Investments in money market instruments will be up to 10% with low to medium risk profile. The scheme will only invest in third party mutual funds. The fund shall invest in a mix of diversified equity schemes, mid cap/small cap/large cap oriented schemes.

The scheme would be benchmarked to the BSE 200. The Quantum Equity Fund of Funds would be managed by Arvind Chari.

HDFC MF Equity Fund Outperforms The Index - June 26, 2009

2009-06-26T16:45:00.002+05:30

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. 75406.10 crore at the end of May 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. 171.27 per unit as on 25 June 2009.

Portfolio: The total net assets of the scheme increased by Rs.872.50 crore to Rs. 3780.85 crore in May 2009.

HDFC Equity Fund (G) took fresh exposure to two new stocks in May 2009. The scheme has purchased 15.00 lakh units (3.26%) of Bharti Airtel and 8.50 lakh units (1.88%) of Lupin.

The scheme exited completely from Reliance Industries by selling 3.75 lakh shares (2.33%), Reliance Infrastructure by selling 5.00 lakh shares (1.20%) and Tata Steel by selling 5.00 lakh (0.41%) in May 2009.

Sector-wise, the scheme took fresh exposure in Telecommunications-Service Provider at 3.26% in May 2009.

Sector-wise, the scheme exited completely from Power Generation and Supply at 1.20% in May 2009.

The scheme had highest exposure to ICICI Bank with 25.50 lakh units (4.99% of portfolio size) followed by Bank of Baroda with 41.22 lakh units (4.78%), State Bank of India with 9.25 lakh units (4.57%) and Crompton Greaves with 55.53 lakh units (3.86%) among others in May 2009.

It reduced its exposure from State Bank of India by selling 4.25 lakh units to 9.25 lakh units (by 1.37%), Sun Pharmaceuticals Industries by selling 98877 units to 7.50 lakh units (1.32%), United Phosphorus by selling 36.00 lakh units to 45.50 lakh units (1.25%) and Hero Honda Motors by selling 2.20 lakh units to 5.50 lakh units (1.18%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Banks-Public Sector at 10.41% (from 12.02% in April 2009), followed by Banks-Private Sector at 8.93% (8.76%), Entertainment/Electronic Media Software at 8.27% (6.93%) and Computers-Software-Large at 6.89% (6.99%) among others in May 2009.

Sector-wise, the scheme had reduced exposure from Refineries to 1.62% (by 2.47%), Banks-Public Sector to 10.41% (by 1.61%), Pharmaceuticals-Indian-Bulk Drugs & Formulation to 6.86% (by 1.55%) and Food-Processing-MNC to 5.72% (by 1.29%) among others in May 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 returns of 6.02% outperforming the S&P CNX 500 Index that gained 3.73% over 1 month period ended 25 June 2009.

Over 3 months period, the scheme advanced by 58.80% outperforming the benchmark index that gained 48.35%.

Return of the scheme rose 14.02% outperforming the benchmark index that inched up by 0.06% over 1 year period.

Birla Sun Life MF Revises Exit Load Of Dynamic Bond Fund - June 26, 2009

2009-06-26T16:43:00.001+05:30

Birla Sun Life Mutual Fund has proposed to revise the exit load structure of Birla Sun Life Dynamic Bond Fund, an open-ended income scheme, with effect from 30 June 2009. According, for purchase/switch in of units less than Rs 5 crore in value, exit load will be 0.50% of applicable NAV if redeemed/switched out within 180 days from the allotment and 0.10% if redeemed/switched out between 181 days and 270 days from the allotment.

For purchase/switch in of units equal to or greater than Rs 5 crore in value, the fund will levy an exit load of 0.50% if redeemed/switched out within 30 days.

Earlier, for purchase/switch in of units less than Rs 5 lakh in value, exit load will be 0.50% of applicable NAV if redeemed/ switched out within 6 months.

For purchase/switch in of units equal to or greater than Rs 5 lakh but less than Rs 5 crore in value, the fund will levy exit load of 0.50% if redeemed/ switched out within 3 months.

For purchase of units equal to or greater than Rs 5 crore in value, 0.50% will be the exit load if redeemed/switched out within 1 month from the date of allotment. There is no change in entry load. As earlier the entry load of the scheme is nil.

IDFC MF Announces Dividend For Various Funds - June 25, 2009

2009-06-25T17:00:00.001+05:30

IDFC Mutual Fund has declared the dividend under quarterly dividend option of IDFC All Seasons Bond Fund A-Regular Plan, IDFC Dynamic Bond Fund-Plan A-Regular Plan, IDFC Money Manager Fund-Investment Plan (A) and IDFC Super Saver Income Fund-Investment Plan (A)-Regular Plan and under dividend plan of IDFC Super Saver Income Fund-Investment Plan (B) and of IDFC Super Saver Income Fund-Investment Plan (C)

The fund house has decided distribute the following amount of dividend on the record date of 30 June 2009 on face value of Rs 10 per unit:

IDFC All Seasons Bond Fund A – Regular Plan

The scheme will offer dividend of Rs 0.30 per unit as on record date. The NAV of the scheme was recorded at Rs 11.2103 per unit as on 23 June 2009.

IDFC Dynamic Bond Fund – Plan A – Regular Plan

The scheme will offer dividend of Rs 0.51 per unit as on record date. The NAV of the scheme was recorded at Rs 11.0179 per unit as on 23 June 2009.

IDFC Money Manager Fund – Investment Plan (A)

The scheme will offer dividend of Rs 0.14 per unit as on record date. The NAV of the scheme was recorded at Rs 10.2861 per unit as on 23 June 2009.

IDFC Super Saver Income Fund – Investment Plan (A) - Regular Plan

The scheme will offer dividend of Rs 0.45 per unit as on record date. The NAV of the scheme was recorded at Rs 10.8483 per unit as on 23 June 2009.

IDFC Super Saver Income Fund – Investment Plan (B)

The scheme will offer dividend of Rs 0.15 per unit as on record date. The NAV of the scheme was recorded at Rs 10.3435 per unit as on 23 June 2009.

IDFC Super Saver Income Fund – Investment Plan (C)

The scheme will offer dividend of Rs 0.05 per unit as on record date. The NAV of the scheme was recorded at Rs 10.1107 per unit as on 23 June 2009.

HSBC MF Equity Fund Over All Under Perform The Time Periods - June 25, 2009

2009-06-25T16:54:00.004+05:30

Background: HSBC Asset Management (India) Private Limited set up in May 2002 as a trust by HSBC Securities and Capital Markets (India) Private. Limited. The fund manages assets worth Rs 9813.45 crore as on May 2009. HSBC Equity Fund (G) an open-ended equity diversified scheme launched in November 2002.

The objective of the scheme is to seek 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 Re 1 thereafter. The unit NAV of the scheme was Rs 80.33 as on 24 June2009.

Portfolio: The total net assets of the scheme increased by Rs 252.87 crore to Rs 1477.42 crore in May 2009.

HSBC Equity Fund (G) took fresh exposure to five new stocks in May 2009. The scheme has purchased 3.19 lakh units (1.40%) of Dr Reddys Laboratories, 6.74 lakh units (1.40%) of Pantaloon Retail (India) and 4.98 lakh units (1.36%) of DLF among others.

The scheme exited completely from Infrastructure Development Finance Company by selling 27.07 lakh units (1.69%) in May 2009.

Sector-wise, the scheme took fresh exposure in Textiles-Products at 1.40%, Diversified- Medium/Small at 1.20% and Sugar at 1.01% among others in May 2009.

Sector-wise, the scheme exited completely from Finance & Investments at 1.69% in May 2009.

The scheme had highest exposure to Reliance Industries with 4.93 lakh units (7.61% of portfolio size) followed by State Bank of India with 4.11 lakh units (5.21%), Bharat Heavy Electricals with 3.42 lakh units (5.04%) and HDFC Bank with 4.95 lakh units (4.84%) among others in May 2009.

It reduced its exposure from ITC by selling 2.66 lakh units to 32.40 lakh units (by 1.38%), Bharti Airtel by selling 1.34 lakh units to 7.16 lakh units (1.23%), Hindustan Unilever by selling 2.15 lakh units to 14.95 lakh units (0.94%) and Cipla by selling 1.02 lakh units to 8.34 lakh units (0.58%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Refineries at 11.11% (from 10.24% in April 2009), followed by Banks-Private Sector at 7.09% (5.97%), Telecommunications-Service Provider at 5.67% (6.49%) and Oil Drilling/Allied Services at 5.42% (4.62%) among others in May 2009.

Sector-wise, the scheme had reduced exposure from Personal Care-Multinational to 3.96% (by 1.43%), Cigarettes to 4.03% (by 1.38%), Telecommunications-Service Provider to 5.67% (by 0.82%) and Computers-Software-Large to 4.82% (by 0.63%) among others in May 2009.

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

The scheme has posted returns of 3.92% underperforming the BSE 200 Index that gained 4.41% over 1 month period ended 24 June 2009.

Over 3 months period, the scheme advanced by 36.57% underperforming the benchmark index that gained 59.56%.

It fell 2.30% that underperformed the benchmark index that increased by 1.62% over 1 year period.

DBS Chola Mutual Fund Files An Offer Document With Sebi - June 25, 2009

2009-06-25T16:43:00.001+05:30

Name of Fund: DBS Chola Fixed Maturity Plan-Series 12, Scheme: A close ended income scheme, Investment Objective: The Investment objective of the scheme would be to achieve growth of capital through investments made in a basket of fixed income securities maturing on or before the maturity of the scheme.

Investment Plans: There will be 4 plans of different maturities under this scheme.

Investment Options: The scheme will offer institutional and regular plan with growth and dividend option.

Asset Allocation: The scheme will invest its entire corpus in debt instruments with low-medium risk profile. And also invest upto 100% in money market instruments.

Debt instruments may include securitised debt up to 100% of the net assets & exposure in interest rate derivatives may be undertaken as permitted under SEBI guidelines.

NFO price: Rs 10 per unit, Load structure: The scheme will not charge any entry load. Since the plan will be listed on the stock exchange, no exit load will be charged.

Minimum Investment Amount: The minimum investment amount under the institutional plan is Rs 1 crore per application and in multiples of Re 1 thereafter. And the minimum investment amount under the retail plan is Rs 5000 and in multiples of Re 1 thereafter.

Minimum Target amount: The Fund seeks to collect a minimum targeted amount of Rs 1 crore during NFO.

Benchmark Index: For Plans upto 182 days of maturity – CRISIL Liquid Fund Index. And for Plans beyond 182 days of maturity-CRISIL Short Term Bond Fund Index

Fund Managers: Bekxy Kuriakose will manage the fund.

HDFC Mutual Fund Declares Dividend For FMP - June 24, 2009

2009-06-24T16:17:00.001+05:30

HDFC Mutual Fund has announced 29 June 2009 as the record date for declaration of dividend under quarterly dividend normal and quarterly dividend option of retail and wholesale plan of HDFC FMP 370 D June 2008 (1) a fixed maturity plan under HDFC Fixed Maturity Plans-Series VIII.

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

The retail option of the scheme recorded NAV of Rs 10.9549 per unit under normal dividend option and Rs 10.7552 per unit under quarterly plan as on 22 June 2009.

The wholesale plan of the scheme recorded NAV of Rs 10.9897 per unit under normal dividend option and Rs 10.7720 per unit under quarterly plan as on 22 June 2009.

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

SBI Mutual Fund Declares Dividend For Various Debt Funds - June 24, 2009

2009-06-24T16:12:00.002+05:30

SBI Mutual Fund has declared dividend under dividend option of SBI Debt Fund Series-13 Months-8, SBI Debt Fund Series-13 Months-9, SBI Debt Fund Series-13 Months-10, SBI Debt Fund Series-18 Months-3, SBI Debt Fund Series-370 Days-1 and SBI Debt Fund Series-370 Days-1. The dividend will be declared for both retail and institutional plans.

The fund house has decided to distribute the following amount of dividend on the record date of 29 June 2009 on face value of Rs 10 per unit:

SBI Debt Fund Series-13 Months-8: The dividend for Individual & HUF Investors and other investors under both retail and institutional plan will be 2.752% (i.e. Rs 0.2752 per unit)

The NAV of the scheme under retail plan was at Rs 10.5453 per unit and under institutional plan was at Rs 10.6055 per unit as on 22 June 2009

SBI Debt Fund Series-13 Months-9: The dividend for Individual & HUF Investors under both retail and institutional plan will be 0.985% (i.e. Rs 0.0985 per unit)

The NAV of the scheme under retail plan was at Rs 10.1383 per unit and under institutional plan was at Rs 10.1819 per unit as on 22 June 2009

SBI Debt Fund Series-13 Months-10: The dividend for Individual & HUF Investors and other investors under both retail and institutional plan will be 0.985% (i.e. Rs 0.0985 per unit)

The NAV of the scheme under retail plan was at Rs 10.1605 per unit and under institutional plan was at Rs 10.1679 per unit as on 22 June 2009

SBI Debt Fund Series-18 Months-3: The dividend for Individual & HUF Investors and other investors under retail plan will be 0.2302% (i.e. Rs 0.2302 per unit).

And the dividend for Individual & HUF Investors under institutional plan will be 2.302% (i.e. Rs 0.2302 per unit).

The NAV of the scheme under retail plan was at Rs 10.7882 per unit and under institutional plan was at Rs 10.7884 per unit as on 22 June 2009

SBI Debt Fund Series-370 Days-1: The dividend for Individual & HUF Investors and other investors under both retail and institutional plan will be 2.752% (i.e. Rs 0.2752 per unit)

The NAV of the scheme under retail plan was at Rs 10.5094 per unit and under institutional plan was at Rs 10.7246 per unit as on 22 June 2009

SBI Debt Fund Series-370 Days-2: The dividend for Individual & HUF Investors and other investors under both retail and institutional plan will be 2.752% (i.e. Rs 0.2752 per unit)

The NAV of the scheme under retail plan was at Rs 10.5584 per unit and under institutional plan was at Rs 10.6052 per unit as on 22 June 2009

SBI Debt Fund Series is a close-ended debt scheme with an objective to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, AAA/AA+ bonds and money market instruments.

Franklin India Mutual Fund Out Performed The Instant Period - June 24, 2009

2009-06-24T16:03:00.002+05:30

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 23617.96 crore at end of May 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. 147.44 per unit as on 23 June 2009.

Portfolio: The total net assets of the scheme increased by Rs 384.11 crore to Rs 2138.60 crore in May 2009.

Franklin India Bluechip Fund (G) took fresh exposure to five new stocks in May 2009. The scheme has purchased 3.18 lakh units (1.40%) of Container Corporation of India, 9.84 lakh units (1.07%) of Cairn India and 2.00 lakh units (0.78%) of United Spirits among others.

The scheme exited completely from JSW Steel by selling 4.00 lakh units (0.77%), Hindalco Industries by selling 20.00 lakh units (0.61%) and Tata Chemicals by selling 6.09 lakh units (0.59%) among others in May 2009.

Sector -wise, the scheme took fresh exposure in Breweries & Distilleries at 0.78%, Construction at 0.58% and Banks - Public Sector at 0.44% in May 2009.

Sector-wise, the scheme exited completely from Aluminium and Aluminium Products at 0.61% and Fertilizers at 0.59% in May 2009.

The scheme had highest exposure to Reliance Industries with 8.00 lakh units (8.52% of portfolio size) followed by HDFC Bank with 11.90 lakh units (8.03%), Bharti Airtel with 16.00 lakh units (6.13%) and Kotak Mahindra Bank with 17.00 lakh units (5.41%) among others in May 2009.

It reduced its exposure from Bharti Airtel by selling 2.20 lakh units to 16.00 lakh units (by 1.64%), Grasim Industries by selling 1.00 lakh units to 2.00 lakh units (1.07%), Bharat Petroleum Corporation by selling 4.00 lakh units to 2.00 lakh units (0.89%) and Infosys Technologies to 6.50 lakh units (0.71%) among others in May 2009.

Sector-wise, the scheme had highest exposure to Banks-Private Sector at 20.44% (from 17.43% in April 2009), followed by Telecommunications-Service Provider at 9.05% (10.58%), Refineries at 8.95% (9.54%) and Computers-Software-Large at 6.53% (7.18%) among others in May 2009.

Sector-wise, the scheme had reduced exposure from Telecommunications-Service Provider to 9.05% (by 1.53%), Diversified-Mega to1.97% (by 1.07%), Steel-Large to 0.38% (by 0.66%) and Computers-Software-Large to 6.53% (by 0.65%) among others in May 2009.

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

The scheme has posted returns of 3.19% outperforming the BSE Sensex that gained 3.15% over 1 month period ended 23 June 2009.

Over 3 months period, the scheme advanced by 51.31% underperforming the benchmark index that gained 51.99%. It rose 9.93% outperforming the benchmark index that gained 0.21% over 1 year period.

Religare Mutual Fund PSU Equity Fund Seeks Sebi Approval - June 23, 2009

2009-06-23T16:18:00.002+05:30

Religare Mutual Fund has filed offer document with Securities and Exchange Board of India (Sebi) to launch new fund named as Religare PSU Equity Fund, an open-ended PSU Sector fund. Each unit will have a face value of Rs.10 each. Details of the Religare PSU Equity Fund: The scheme seeks to generate capital appreciation by investing in equity and equity related instruments of companies where the Central/State Government has majority shareholding or the management control is vested with the Central/State government.

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

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 10 crore during NFO period.

Asset allocation: The scheme will invest 90-100% in equity & equity related instruments of the constituents of BSE PSU Index with high risk profile.

The fund will be having investment exposure up to 35% in equity & equity related instruments of PSU companies other than the constituents of the BSE PSU Index with high risk profile.

Investment in equity & equity related instruments of non PSU companies will be up to 20% with high risk.

The scheme will invest up to 35% in debt & money market instruments with low to medium risk profile.

Non PSU companies are considered as companies which are PSU at the time of investment and which may subsequently become non PSU because of privatization or disinvestment.

Investment in securitized debt including pass through certificate (PTC) shall not exceed 20% of the net assets of the Scheme. The scheme will not invest in foreign securitized debt.

Load structure during NFO period: The scheme will not charge entry load for application not routed through any distributor/agent/broker: While application routed through any distributor/agent/broker, the scheme will ask 2.25% entry load in respect of each purchase/ switch-in of units less than Rs. 5 crore in value and nil for In respect of each purchase/switch-in of units equal to or greater than Rs. 5 crore in value.

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 within 6 months from the date of allotment and in respect for each purchase/switch-in of units equal to or greater than Rs 5 crore in value no exit load is payable.

Benchmark index: The performance of the scheme is being benchmarked to BSE PSU Index.

Fund manager: Gautam Kaul is the fund manager for the scheme.

Mirae Asset Mutual Fund Short Term Bond Fund Floats - June 23, 2009

2009-06-23T16:12:00.001+05:30

Mirae Asset Mutual fund has unveiled the Mirae Asset Short Term Bond Fund, an open-ended debt scheme on 23 June 2009. The new fund will be opened for fresh subscription till 22 July 2009. The offer price is Rs 10 per unit. The investment objective of the scheme is to seek to generate returns through an actively managed diversified portfolio of debt and money market instruments.

The scheme offers two plans viz. regular and institutional with growth and dividend option. The dividend option will offer dividend payout, dividend reinvestment and dividend transfer option.

No entry load is payable under the scheme. The scheme will charge 0.25% for regular plan, if redeemed within 90 days from the date of allotment and 0.15% for institutional plan, if redeemed within 15 days from the date of allotment.

The minimum application amount under the regular plan is Rs 5000 and in multiples of Re 1 thereafter and the minimum investment amount under institutional plan is Rs 10 lakhs and in multiples of Re 1 thereafter.