MF Companies Keen Realty ETF

Mumbai/ Ahmedabad: The Indian mutual fund companies are not only dazzled by the glitter of gold but also by the shine of an estimated Rs 1,30,000-crore worth realty sector. So far, two mutualf fund companies have unveiled their Gold Exchange Traded Funds (ETFs) and many more companies, including Lotus India AMC are mulling to launch their gold ETFs within a few months. These companies are also awaiting the Securities and Exchange Board of India (Sebi) guidelines on real estate ETF. Country's second Gold ETF after Benchmark AMC's Gold ETF called 'Gold BeEs' was launched in Ahmedabad on February 27 and the company's next product will be a real estate ETF. On how the Gold ETF will grow in the Indian market, Mittal said, Initially five to six per cent of the total 35 per cent of gold investment will be converted into ETFs. After that there is only growth in the sector as Indian investor is traditionally a gold investor and the product has succeeded in countries like Australia, Turkey and many European countries. These countries are not traditionally into gold investment so in India gold ETF will surely be a major success. The market will respond to gold far better than other commodities like silver and oil as gold does not have many spot exchanges while other commodities have spot exchanges. However, discussions are on between the Forward Market Commission (FMC) and Association of Mutual Funds in India (AMFI) in this regard. Depending on the outcome of these discussions many more commodities like oil and silver may be added in the country.

Mutual Fund Take To Buying

Domestic mutual funds (MFs) continued their buying spree for the seventh consecutive day after selling continuously for seven trading days in February 2007. On Monday (26 February 2007), MFs bought shares worth Rs 270.59 crore compared with Friday's (23 February 2007) purchases of Rs 37.21 crore. Out of the 17 trading sessions in February, MFs were net sellers of equities for 8 days, and net buyers on nine. MFs reported gross purchases worth Rs 821.03 crore, their gross sales aggregating Rs 550.44 crore. The 30-share BSE Sensex advanced 16.99 points (0.12%), to 13,649.52 on 26 February 2007. The cumulative investment by MFs, till 26 February 2007, is an outflow of Rs 866.11 crore. MF net inflow from April 2006-February 2007, to 26 February 2007, stands at Rs 10111.76 crore.

Goldman Sachs Plans To Foray Into the Mutual Fund Industry

Goldman Sachs the New York based and one of the world largest investment banking firms in the world mlls to foray into the India Mutual Fund industry. Goldman Sachs joins JP Morgan, and AIG who have already got the approval of the capital market regulator’s approval for starting their operations in India. As of 2006, the assets under management for Goldman Sachs were worth $676 billion.

MFs In Buying Mood

Domestic mutual funds (MFs) are in buying mood. MFs, for the sixth consecutive day after selling continuously on seven trading days in February 2007. On Friday (23 February 2007), MFs purchased shares worth Rs 37.21 crore compared with Thursday's (22 February 2007) purchases of Rs 0.75 crore. Out of the 16 trading sessions in February, MFs were net sellers of equities for 8 days, and net buyers on eight. MFs made gross purchases worth Rs 780.45 crore, their gross sales aggregating Rs 743.24 crore. The 30-share BSE Sensex advanced 16.99 points (0.12%), to 13,649.52, on 22 February 2007. The cumulative investment by MFs, till 23 February 2007, is an outflow of Rs 1136.70 crore.

SBI MF Announces 110% Dividend In Magnum Taxgain Fund

SBI Mutual Fund will pay a 110 per cent dividend under Magnum Taxgain Fund. The record date for the same has been fixed as March 2, 2007.This is the tenth dividend payout from the fund. Last year, the fund had declared a 150 per cent in March 2006.

ABN Amro Likely To Unveil Realty Fund

Mumbai: ABN-Amro Mutual Fund has registered with Securities & Exchange Board of India (Sebi) for a scheme that will invest in real estate companies and leading property companies worldwide. The ABN-Amro Global Property (India) Equity Fund, which awaits the regulator's approval, proposes to invest in foreign equity and equity-related securities through ABNAmro's Luxembourg-based ABN-Amro Global Property Equity Fund. The latter is a diversified, actively managed fund mainly investing in realty companies and top property companies across the globe.The Reserve Bank of India (RBI) permits resident Indians to invest $50,000 per annum overseas. Analysts said, the ABN-Amro scheme was aimed at this segment.

UTI Mutual's Record Date Feb 28

UTI Mutual Fund has announced February 28, 2007 as the record date for the purpose of declaring dividend in UTI Fixed Maturity Plan Q Nov 06 Series-II.

MFs Continue To Buy

Domestic mutual funds (MFs) continued their buying spree for the fifth consecutive day after selling continuously for seven trading days in February 2007. On 22 February 2007, MFs purchased shares worth Rs 0.75 crore compared with Wednesday's (21 February 2007) purchases of Rs 17.81 crore. Out of the 15 trading sessions in February, MFs were net sellers of equities for 8 days, and net buyers on seven. MFs made gross purchases worth Rs 1063.85 crore, their gross sales aggregating Rs 1063.10 crore. The 30-shares BSE Sensex plunged 388.78 points (2.77%), to settle at 13,659.53 on 22 February 2007. The cumulative investment by MFs, till 22 February 2007, is an outflow of Rs 1173.91 crore. MF net inflow from April 2006 - February 2007, to 21 February 2007, stands at Rs 9803.96 crore.