Latest Indian Mutual Fund | 21-Apr-2011

DIVIDEND

1.Taurus MF announces dividend.

 

Taurus Mutual Fund has announced 25 April 2011 as the record date for declaration of dividend under the dividend plan of Taurus FMP Series-A (91 days close ended debt scheme). The fund house has decided to distribute 100% distributable surplus as on the record date as dividend.

News Source – NAV INDIA.

GENERAL

2.MF schemes’ merger hits taxation hurdle.

 

Mergers of mutual fund schemes are facing the tax roadblock, say market players. In the past couple of years, the Securities and Exchange Board of India (Sebi) has expressed its displeasure to fund houses over the existence of too many similar schemes. However, fund houses say the cost of merging is too high. “Some of the fund houses have progressed on schemes’ consolidation but it is not done in a major way. There are certain tax issues around it, such as STT and other tax structures,” says H N Sinor, chief executive officer of Association of Mutual Funds in India (Amfi).

News Source – BUSINESS STANDARD.

 



GENERAL

1.UTI MF declares 1:10 bonus.

 

UTI Mutual Fund has declared a 1:10 bonus on the face value of Rs 10 per unit for three of its schemes – UTI-Children’s Career Balanced Plan, UTI Unit Linked Insurance Plan and UTI Retirement Benefit Pension Fund. The quantum of bonus will be in the ratio of 1:10 (one additional unit for every 10 units currently held). The record date of bonus is April 25.

News Source – BUSINES LINE.

NEW FUND LAUNCH

2.L&T MF Floats 370 Days Fund.

 

L&T Mutual Fund has launched a new fund named as L&T FMP – III (April 370D A), a close ended income scheme with duration of 370 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is from 26 April to 5 May 2011.

News Source – NAV INDIA.

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