Latest Indian Mutual Fund News | 12-May-2011
Taurus Mutual Fund has announced 16 May 2011 as the record date for declaration of dividend under the dividend plan of Taurus Fixed Maturity Plan Series-B (91 days close ended debt scheme). The quantum of dividend will be 100% of distributable surplus as on the record date.
News Source – NAV INDIA.
The ambitious plan of market regulator Sebi to make stock exchanges a selling point for mutual funds is yet to find favour among investors. Broker apathy towards selling mutual funds, along with overdependence of asset managers on traditional distributors, is preventing exchange platforms from taking off in a big way. The Bombay Stock Exchange on an average logs about 193 fund buy or sell orders worth about Rs 1.79 crore every month while the National Stock Exchange (NSE) executes about half the number of buy or sell orders worth about Rs 70 lakh, according to exchange data.
News Source – ECONOMIC TIMES.
Debt mutual fund folios have in the last one-month period seen a growth of 4.25 per cent, while equity schemes continued to face redemptions as folio numbers declined by 1.02 per cent. From March to April, debt folios have increased from 45 lakh to 47 lakh, while equity has fallen from 3.9 crore folios to 3.8 crore.
A folio is a reference number of the mutual fund account. The average assets under management by mutual funds during the same period increased by 7 per cent to Rs 7.55 lakh crore. As on April 2011, the number of folios in the industry was 4.7 crore, of which 47 lakh folios belong to the debt category and 3.8 crore to the equity category.
News Source – BUSINESS LINE.
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