1.Reliance Interval Fund- Quarterly Interval Fund Series I announces dividend.
Reliance Mutual Fund has announced 3 January 2012 as the record date for declaration of dividend under the dividend option of Reliance Interval Fund- Quarterly Interval Fund Series I-Institutional and Retail Plans. The quantum of dividend on the face value of Rs 10 per unit will be: Reliance Interval Fund- Quarterly Interval Fund Series I – Retail Plan: Rs 0.2094 per unit. Reliance Interval Fund- Quarterly Interval Fund Series I – Institutional Plan: Rs 0.2176 per unit.
News Source – NAV INDIA.
2.New FMPs hit record high, cross Rs 1-lakh cr mark.
In the mutual fund space, 2011 truly belonged to fixed maturity plans (FMPs). At least 615 new schemes were launched till November this year, raising a whopping Rs 1.08 lakh crore, according to data provided. A fixed-maturity plan is a fund that invests in debt and money market instruments of the same maturity as the stated maturity of the plan. This is the highest in three years after the new regulatory framework came into play. While the year saw twice the number of schemes launched in 2010, the amount raised was 50 per cent more. In 2010, 288 schemes raised Rs 72,001 crore.
News Source – BUSINESS STANDARD.
Executives of mutual fund houses have suggested the Security and Exchange Board of India (Sebi) relax the know-your-client (KYC) norms for offshore funds through the qualified foreign investor (QFI) route. In August, Sebi had issued detailed guidelines to allow KYC-compliant foreign investors, termed as QFIs, to invest in equity and debt schemes. However, the stringent KYC norms such as mandatory permanent account number and tax filing details have not gone down well with the fund houses.
News Source – BUSINESS STANDARD.
Baroda Pioneer Mutual Fund has planned that effective January 1, 2012, investors who subscribe to any of the open ended schemes of Baroda Pioneer Mutual Fund through Systematic Investment Plan (SIP) facility will be offered the option of subscribing to or holding the units in demat form. Investors may note that the units subscribed by them in any open ended schemes of the fund through SIP will be allotted based on the applicable NAV of the scheme, as provided in the relevant Combined Scheme Information Document, and will be credited to their demat account on a weekly basis upon realization of funds.
News Source – LIVE MINT.
NEW FUND OFFER
5.Daiwa Fixed Maturity Plan – Series II – Plans A, B & C files offer document with Sebi.
Daiwa Mutual Fund has filed offer document with Sebi to launch Daiwa Fixed Maturity Plan – Series II – Plans A, B & C, a close ended income scheme. The New Fund Offer price is Rs 10 per unit. The tenure of each plan would range from 90 days to 460 days from the date of allotment of units under the plan(s). Investment objective: The plan(s) under the scheme seeks to generate income and capital appreciation by investing in a portfolio of debt and money market instruments having maturity, on or before the date of maturity of the plan(s).
6.Religare Mutual Fund introduces daily dividend option under its Credit Opportunities Fund.
Religare Mutual Fund has announced the introduction of the daily dividend option for Religare Credit Opportunities Fund under its regular plan, with effect from 2nd January 2012. The daily dividend option will offer only reinvestment facility.
News Source – MUTUAL FUND INDIA.
UTI Mutual Fund has announced dividend under the dividend option of UTI Fixed Income Interval Fund Series II-Quarterly Interval Plan VII. The quantum of dividend will be 100% of the distributable surplus as on the record date. The record date has been fixed as January 4, 2012.
News Source – VALUE RESEARCH.
8.Hybrid funds to rule the roost in 2012.
Equity markets have corrected 20-25% in the year and look very attractive at current valuations of 12-13x P/E (one year forward earnings). Midcaps and smallcaps have been hit even further. Any positive developments on the global level w.r.t. European sovereign crisis in the year could trigger the return of foreign institutional flows back to emerging nations, of which India would be a major beneficiary. The reversal of flows would also ease the pressure on the government to control rapidly falling rupee.
News Source – ECONOMIC TIMES.
Tata Mutual Fund has announced change in exit load structure under Tata Dynamic Bond Fund with effect from January 2, 2012. The proposed exit load will be 0.50% if redeemed on or before the expiry of 180 days from the date of allotment.
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December 31, 2011