DIVIDEND

1.UTI Banking Sector Fund declares dividend.

 

UTI Mutual Fund has declared a dividend of 25% (Rs. 2.50 per unit on Face Value of Rs.10) in its UTI Banking Sector Fund (open ended equity oriented scheme). The record date for dividend has been fixed as May 9, 2011.



News Source – MONEY CONTROL.

GENERAL

2.MFs' exposure in banks on the rise.

 

The Indian mutual fund industry's investment in the banking sector has touched new highs recently. Despite corrections post the credit policy, fund managers are finding banking stocks as valuable picks in the long term.

Stocks in the banking space had emerged as the favourite amid other consumption sectors till the beginning of November last year, after which the rally subsided. However, after a short lull of a few months, banks have once again caught the fancy of fund managers.

At a time, they say, when in the benchmark indices financials contribute one-fourth of the total weightage, their equity asset exposure in banks is still lesser. "There is further room to increase our fund flow in the banking sector — one of the strongest banking systems globally," says the chief investment officer of a large-sized fund house.

News Source – BUSINESS STANDARD.

3.Rise in key rates means better returns on FMPs.

 

Investors in debt mutual funds find themselves in a sweet spot each time there is an announcement of a rate rise. Fixed maturity plans (FMPs) especially become more popular because of the tax benefits these offer. At present, investors in an FMP with an all-bank certificate of deposit (CD) portfolio can expect an annual return of 9.5 per cent. For a portfolio, which includes commercial papers (CPs), the expected returns can be 9.75 per cent.

READ  Latest Indian Mutual Fund News | 21-Mar-2013

News Source – BUSINESS STANDARD.

NEW FUND LAUNCH

4.Sundaram Mutual Fund launches Equity Plus scheme.

 

Sundaram Mutual Fund announced the launch of Sundaram Equity Plus, an open-end scheme. The scheme will open for subscription on May 4 and close on May 16. Sundaram Equity Plus aims to invest between 65-85 per cent in equity to give all the tax advantages of a designated equity fund and a maximum of 35 per cent in gold ETF.

News Source – ECONOMIC TIMES.

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Admin May 9, 2011

AdminMutual FundsAuto,bank certificate of deposit,banking,banking sector,banking systems,certificate of deposit,chief investment officer,consumption,consumption sectors,control,date,Draft,equity,exposure,fmp,fund managers,Indian,investment,launch,money control,Mutual,mutual fund news,new highs,News,oriented scheme,scheme,sector,sector fund,source business,space,term stocks,timeDIVIDEND 1.UTI Banking Sector Fund declares dividend.   UTI Mutual Fund has declared a dividend of 25% (Rs. 2.50 per unit on Face Value of Rs.10) in its UTI Banking Sector Fund (open ended equity oriented scheme). The record date for dividend has been fixed as May 9, 2011. News Source - MONEY...Educating Investors