Sahara Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of Sahara Banking & Financial Services Fund (open ended sectoral growth fund). The record date for dividend has been fixed as 29 April 2011. The quantum of dividend will be Rs 2.50 per unit as on the record date.
News Source – NAV INDIA.
Investments made by banks in mutual funds soared in the fortnight ended April 8, on the back of improved liquidity. According to the data released by the Reserve Bank of India (RBI), bank investments in instruments issued by mutual funds had more than doubled compared to the previous fortnight. Bank investments in mutual funds were at Rs 111,279 crore on April 8 compared to Rs 47,638 crore as on March 25.
News Source – BUSINESS STANDARD.
Kotak Mutual Fund has declared a dividend of 7.50% (Rs. 0.75 per unit on Face Value of Rs.10) in its open end scheme Kotak Emerging Equity Scheme (open ended equity growth scheme). The record date for dividend has been fixed as April 29, 2011.
News Source – MONEY CONTROL.
With the markets remaining volatile for the best part of 2010-11, exits made by equity MF investors, who were wary of losing their gains, hit a record high. Redemptions or the money pulled out by investors from equity MF schemes have topped Rs 79,730 crore in fiscal 2011, the highest ever, data with the Securities and Exchange Board of India (Sebi) shows.
News Source – ECONOMIC TIMES.
India's stock market regulator is contemplating action against two multinational asset management firms for alleged violation of norms governing mutual funds (MFs), according to two persons with direct knowledge of the development. "We are examining the whole issue," said a Securities and Exchange Board of India (Sebi) official aware of the development.
News Source – LIVE MINT.