UTI Mutual Fund has declared 19 April 2011 as the record date for declaration of dividend under the dividend option of UTI Fixed Income Interval Fund Series II-Quarterly Interval Plan IV. The quantum of dividend on the face value of Rs 10 per unit will be 100% of distributable surplus as on the record date.
News Source – NAV INDIA.
The number of fund houses are increasing each year in the fast growing Indian economy but when it comes about the size, the top five players control over half of the country's mutual fund business. An analysis of average assets under management (AUM) by over 40 fund houses shows that the top five layers– Reliance MF, HDFC MF, ICICI MF , UTI MF and Birla Sun Life — together control more than half of the total assets managed by the MF industry in India. The Indian mutual fund industry is valued worth Rs 7 lakh crore as per the latest data available with the industry association Association of Mutual Funds in India (AMFI).
News Source – ECONOMIC TIMES.
NEW FUND LAUNCH
Kotak Mahindra Mutual Fund has launched Kotak FMP Series 44 (370 Days), a close ended income scheme. The new issue is open for subscription from 15th April and closes on 18th April 2011.
News Source – AMFI INDIA.