Latest Indian Mutual Fund News | 31-Mar-2011
Tata Mutual Fund has announced 5 April 2011 as the record date for the declaration of dividend on the face value of Rs 10 per unit under periodic dividend option of Tata Fixed Maturity Plan – Series 25 – Scheme A (close ended debt fund). The quantum of dividend will be upto 100% of the distributable surplus as on the record date.
News Source – NAV INDIA.
Exchange-traded funds (ETFs), which have attracted a lot of investor attention globally, are also beginning to take off in India. An ETF is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities or bonds. Most ETFs track an index. They can be bought and sold through the trading day, like any stock.
In the past 14 months, the average assets under management (AAUM) in ETFs have almost doubled and the number of folios more than doubled. "The number of retail investors putting money in ETFs is probably the highest at this point in time," said Nitin Rakesh, MD & CEO, Motilal Oswal MF, which has launched three ETFs. Average assets under management (AAUM) of the 27 ETFs in India was Rs 5,683 crore as of February 28, up about 135 per cent from Rs 2,411 crore as of December 31, 2009. The number of investor accounts, or folios, had risen to 409,000 as of February 28 from 203,000 as of March 31, 2010, according to Securities and Exchange Board of India (Sebi) data.
News Source – BUSINESS STANDARD.
Mutual funds have been on an advertising blitzkrieg last year, increasing spends on print. As per AdEx India, a division of TAM media research, the advertising volumes have shot up 89% for print advertising in calendar year 2010 as compared to the previous year. TV ad volumes during the same period grew at a slower pace of 4%. According to industry estimates, overall advertising budget for the mutual fund industry shot up 30% in 2010 to total R200 crore. "Earlier, fund houses paid higher commission to distributors (taken from entry loads) to push equity funds," Dhirendra Kumar, CEO of Valueresearch online, says. But with ban on entry loads post August 2009, fund houses have resorted to higher advertising to market its schemes resulting in print advertising figures going up, he added.
News Source – FINANCIAL EXPRESS.
LIC Mutual Fund has now been rechristened as LIC Nomura Mutual Fund, following the Nomura's acquisition of 35 per cent stake in the domestic major. The announcement was formally made by the company on Wednesday. Nomura has acquired 35 per cent of the fully paid-up equity share capital of both LIC MF AMC and the Trustee Company – LIC Mutual Fund Trustee Company Private Ltd.
News Source – BUSINESS LINE.
NEW FUND LAUNCH
Canara Robeco Mutual Fund has launched a new fund named as Canara Robeco Yield Advantage Fund, an open ended debt scheme. During the New Fund Offer (NFO) period, units will be offered at Rs 10 per unit. The new issue will be open for subscription from 1 April and close on 15 April 2011.
News Source – NAV INDIA.https://www.investmentkit.com/articles/2011/04/latest-indian-mutual-fund-news-31-mar-2011/Mutual Fundsadex,Advantage,advertising,assets under management,attraction,Auto,business,Canara,close,date,debt fund,Declares,dividend option,Draft,equity,exchange board,exchange traded funds,face,February,Fund,india general,Indian,investment,investor,investor accounts,investor attention,motilal oswal,Mutual,mutual fund news,News,quantum,retail investors,robeco,securities and exchange board of india,shell out,stock,stock exchanges,tata mf,tata mutual fund,value,year,yieldDIVIDEND1.Tata MF Declares Dividend For Fixed Maturity Plan Series 25 - Scheme A. Tata Mutual Fund has announced 5 April 2011 as the record date for the declaration of dividend on the face value of Rs 10 per unit under periodic dividend option of Tata Fixed Maturity Plan - Series...Admin[email protected]AdministratorInvestmentKit Articles
Subscribe Updates, Its FREE!