Mutual Fund News Last Week – 21 Dec 2010

mutual fund newsDIVIDEND

1.Franklin Templeton MF announces dividends in its 2 funds.

Franklin Templeton Mutual Fund has declared a dividend of 45% under the dividend option of Templeton India Growth Fund, an open end growth scheme, aims to provide long-term capital growth to its unitholders. The AMC have also announced a dividend of 13% under the dividend option Templeton India Pension Plan, an open end tax saving scheme, aims provide investors regular income under the dividend plan and capital appreciation under the growth plan. The record date for dividend has been fixed as December 16, 2010.
News Source – MONEY CONTROL.


2.Sebi to track the MF investments of politicians.

Investment in mutual funds by politicians and bureaucrats, including existing and former heads of state, may soon come under the scanner of market regulator Securities & Exchange Board of India (Sebi). According to agency reports, the market watchdog has asked mutual fund houses to strengthen their know-your-customer (KYC) norms. The new disclosures will also apply to Members of Parliament, Legislative Assembles and Legislative Councils. The new guidelines will come into effect from January 1, 2011.


3.Principal Pnb Fixed Maturity Plan – 91 Days – Series XXVII.

PRINCIPAL Mutual Fund has launched Principal Pnb Fixed Maturity Plan – 91 Days – Series XXVII, a close ended income scheme. The new issue is open for subscription from 14th December and closes on 15h December 2010.
News Source – AMFI INDIA.


1.MF channel partners to get frozen commissions.

Online distributors-or more commonly known as channel partners-of the Rs7.13 trillion Indian mutual fund (MF) industry have slowly started to receive their pending commission that was stuck with MFs for over a year. A large chunk of their commission (up to about Rs100 crore as per the industry's estimates; upfront commission for getting fresh inflows plus trail commission or loyalty bonus for existing investors that have stayed invested so far) has been stuck with various fund houses thanks to a directive by the capital market regulator, the Securities and Exchange Board of India (Sebi).

Not just pure online distributors, but even some of the foreign banks have seen their commissions blocked by asset management companies (AMCs). These banks upload their client's transactions electronically (their clients fill in a bank-specific transaction slip) and are therefore classified as channel partners.
News Source – LIVE MINT.


1.ICICI Prudential MF Extends NFO Closure Period for FMP – Series 53 – One Year Plan D.

ICICI Prudential Mutual Fund has announced that the closing date for the New Fund Offer (NFO) of ICICI Prudential Fixed Maturity Plan (FMP) – Series 53 – One Year Plan D, a close ended debt scheme has been extended upto 20 December 2010. The tenure of the scheme is 371 days from the date of allotment of units.
News Source – NAV INDIA.


2.Religare MF Launches Medium Term Bond Fund.

Religare Mutual Fund has launched a new fund named as Religare Medium Term Bond Fund, an open ended income scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 December and close on 24 December 2010.
News Source – NAV INDIA.


1.Reliance MF Declares Dividend For Fixed Horizon Fund.

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend payout option of Reliance Fixed Horizon Fund- XIII – Series 3 (close ended income scheme). The record date for dividend has been fixed as 20 December 2010. The quantum of dividend will be Rs 0.5990 per unit as on the record date.
News Source – NAV INDIA.


2.UTI MF to merge Infrastructure Advantage Fund – Series I into Infrastructure Fund.

UTI Mutual Fund has announced the merger of UTI-Infrastructure Advantage Fund – Series I into UTI-Infrastructure Fund. The merger will be effective from January 14, 2011. UTI- Infrastructure Advantage Fund – Series I is a 3 year close ended equity scheme launched in November – December 2007 is due for maturity on January 17, 2011.
News Source – LIVE MINT.



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