Canbank MF Announces 7% Dividend Under Cancigo Fund

Canbank Mutual Fund has come out with a dividend of 7% (i.e. Rs 0.70 per unit on the face value of Rs. 10) under the dividend option of Cancigo Fund. The record date for the same has been fixed as May 3, 2007. Last dividend was being declared in November 2006 by the fund.

Record Date Announced In Grindlays Fixed Maturity Plan

Standard Chartered Mutual Fund has set May 2, 2007 as the record date for the declaration of dividend under the dividend option of Grindlays Fixed Maturity Plus Plan-1. The AMC plans to distribute entire appreciation in the NAV since its inception as dividend.

Canbank MF Announces Dividend

Canbank Mutual Fund has announced dividend in following schemes: Date of dividend: 27/04/07 DIVIDEND DECLARATION: DAILY DIVIDEND RE-INVEST PLAN WEEKLY DIVIDEND PLAN CANLIQUID - INSTITUTIONAL PLAN 0.00194818 N. A. CANLIQUID - RETAIL PLAN 0.00194818 N. A. CANFLOATING RATE 0.00233781 N. A.

LIC MF Launches Fixed Maturity Plan -Series 22

LIC MF has unveiled its Fixed Maturity Plan -Series 22. The close-ended, debt scheme investment objective is to minimize interest rate risk by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the scheme. The new fund offer (NFO) opens on 16 April and closes on 30 April 2007. The minimum initial application for the fund is Rs 10,000 and in multiples of Rs 1,000 thereafter. The issue price is Rs 10.

AIG To Invest $10 M In Maiden Fund

New Delhi: American International Group (AIG) plans to pump in $10 million in the maiden fund offering of AIG Global Investment Group in India - AIG India Equity Fund. This amount of $10 million would come from AIG's own balance sheet. AIG India Equity Fund is an open-ended diversified equity fund, which would be open for buy from May 3 to May 31. AIG is keen to enter into mortgage guarantee and asset reconstruction (capital recovery) businesses in the coming months. AIG also mulls to expand its headcount in India from 4,500 professionals across eight businesses to 6,600 by the end of the current calendar year, it is also looking to expand its geographical presence across India and take the number of offices (in all the eight businesses) to 350 across 120 cities from the existing level of about 180 offices.

Canbank Mutual Fund To Pay 7 Pc For Cancigo

Kochi: Canbank Mutual Fund has announced a seven per cent dividend (pre-tax) for Cancigo scheme under the income plan. Cancigo scheme is an open-ended debt scheme with marginal exposure in equities. The scheme can infuse up to 90 per cent in debt instruments and money market instruments and up to 25 per cent in equities. The objective of the scheme is to raise income by investing in debt instruments, money market instruments and a small portion in equity. The scheme carried no entry load, while there is an exit load of 0.5 per cent for investments up to Rs 5 lakh, exiting before six months. The minimum amount that can be invested in the scheme is Rs 5,000.

Mutual Funds Buying Continue

Domestic mutual funds (MFs) were buyers of equities on Thursday (26 April 2007). MFs bought shares worth Rs 17.80 compared with Wednesday’s (25 April 2007) purchases of Rs 258.70 crore. MFs made gross purchases worth Rs 1040.10 crore, their gross sales aggregating Rs 1022.40 crore on Thursday. The Sensex rose 11.11 points (0.08%), to end at 14,228.88 on that day.

LIC MF Launches Fixed Maturity Plan Series 22

LIC MF has announced the launch of its Fixed Maturity Plan Series 22. The close-ended, debt scheme investment objective is to minimize interest rate risk by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the scheme. The new fund offer (NFO) opens on 16 April and closes on 30 April 2007. The minimum initial application for the fund is Rs 10,000 and in multiples of Rs 1,000 thereafter. The issue price is Rs 10.