Mutual Fund News 13-Mar-2011

GENERAL

1.Reliance gold fund scheme collects 5 bn rupees.

 

Reliance Mutual Fund on Wednesday said it has so far collected 5 billion rupees ($111 million) from 200,000 investors under its gold fund of funds scheme. "The large participation in the fund reaffirms our belief that gold will emerge as one of the largest asset classes for the Indian MF industry," said Sundeep Sikka, CEO, Reliance Mutual Fund.

News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

2.Baroda Pioneer MF launches Baroda Pioneer 380 Day FMP – Series 1.

Baroda Pioneer Mutual Fund has opened the New Fund Offer (NFO) Baroda Pioneer 380 Day Fixed Maturity Plan – Series 1, close ended debt schemes. The NFO opens for subscription on March 09, 2011 and closes on March 14, 2011. No entry and exit load is applicable. The schemes will mature at the end of 380 days from the date of allotment.

News Source – LIVE MINT.

GENERAL



1.SEBI guidelines to allow direct investment by foreign investors into MFs.

Market regulator SEBI will soon come out with guidelines for foreign investors undertaking direct investments in mutual funds, a senior official said today. "SEBI will issue the guidelines allowing foreign investors to invest in mutual funds shortly…We are working with the Reserve Bank and the Finance Ministry (for allowing FIIs entry into mutual funds)…it is a matter of weeks and not months," SEBI Executive Director of institutional investment management K N Vaidyanathan told reporters here.
News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

2.Motilal Oswal launches Motilal Oswal MOSt Shares NASDAQ- 100 ETF.

Motilal Oswal has announced the launch of Motilal Oswal MOSt Shares NASDAQ-100 ETF. It is an open ended index exchange traded fund. The scheme seeks investment return that corresponds generally to the performance of the NASDAQ-100 Index. The fund will be benchmarked against NASDAQ-100 Index. The NFO period will be from 16th March 2011 to 23rd March 2011. The fund will be passively managed by Mr. Rajnish Rastogi.
News Source – MUTUAL FUND INDIA.







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