Mutual Fund News for Today (February 4th 2010) — Evening Edition
NEW FUND OFFER
Religare Mutual Fund has filed an offer document with SEBI for continuous offer of units of Religare Mid Cap Fund, an open ended equity scheme. The offer document of the scheme is after conversion into open ended scheme. The scheme would offer units at NAV based prices. The investment objective of the scheme is to provide long term capital appreciation by investing in a portfolio that is predominantly constituted of equity and equity related instruments of mid cap companies.
News Source – NAV INDIA.
GENERAL
About two months after their launch, activity on mutual fund (MF) platforms of stock exchanges remains comatose, as investors continue to stick to the age-old system of buying and selling products through distributors. One reason for this is over half of the asset management companies (AMCs) are yet to list their products on stock exchanges. But more significantly, most stock brokers are less enthusiastic about providing services to transact mutual fund schemes through the new platform.
News Source – ECONOMIC TIMES.
