Latest Indian Mutual Fund News | 03-Oct-2011, 10.0 out of 10 based on 1 rating

NEW FUND OFFER

1.Motilal Oswal MOSt Benchmark Government Bond Fund files offer document with Sebi.

Motilal Oswal Mutual Fund files offer document with Sebi to launch Motilal Oswal MOSt Benchmark Government Bond Fund, an open ended gilt scheme. The primary investment objective of the Scheme is to generate credit risk-free returns by investing in a portfolio of securities issued and guaranteed by the Central Government and State Government. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

News Source – NAV INDIA.

GENERAL

2.Reliance Mutual looking for foreign partners to go global.

 

Reliance Capital Asset Management (RCAM) is looking for a foreign partner like Japanese Nippon Life Insurance to facilitate its mission of going global and is also in talks with overseas distributors for selling its products, a top company official said. RCAM is also looking at frontier markets (markets lower than emerging ones) like Sri Lanka and Bangladesh for its products and is waiting for regulatory approvals from Jakarta for its Indonesian Fund.

News Source – ECONOMIC TIMES.

3.AMFI to launch new portal for all mutual fund deals.

 

The Association of Mutual Funds in India (AMFI) plans to launch a portal, MF Utility, next fiscal that will facilitate transactions by customers, distributors and financial advisors in schemes offered by various asset management companies on a single, unified platform. “MF Utility is planned to commence operations by the first week of April 2012, subject to appropriate clearances from Sebi,” Indian mutual fund trade body AMFI’s Chief Executive H N Sinor said while addressing the body’s 16th Annual General Meeting.

News Source – BUSINESS LINE.

4.UTI Mutual Fund raises $1 billion via India debt fund.

 

UTI Mutual Fund has successfully raised around $1 billion, nearly 4,800 crore, through its India dedicated debt fund from overseas investors despite the global economic turmoil and extreme risk aversion. The funds were mobilized through UTI International, the wholly-owned subsidiary of UTI Mutual Fund, India’s oldest and fourth-largest asset management company. This is the largest fund mobilization by an Indian mutual fund in the overseas market. UTI International that runs India Debt Opportunities Fund since 2004 has an average corpus size of only $100 million. It also has a $ 1 billion equity fund.

News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

5.Reliance Fixed Horizon Fund – XX – Series 15 Floats On.

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XX – Series 15, a close ended income scheme with the duration of 369 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs. 10 per unit. The new issue will be open for subscription from 05 October and close on 10 October 2011.

News Source – INDIA INFOLINE.

 






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Admin October 4, 2011