1.Religare MF files offer document with Sebi to Launch Religare Fixed Maturity Plan – Series IX – Plan A to F.
Religare Mutual Fund files offer document with Sebi to launch Religare Fixed Maturity Plan – Series IX – Plan A to F, a close ended debt scheme. Religare Fixed Maturity Plan – Series IX – Plan A to F offers plans of tenure from 3 months / 91 days to 37 months from the date of allotment of the respective Plan(s). To generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.
News Source – NAV INDIA.
2.Diversified mutual funds perform better than benchmark equities in May.
India's diversified equity funds managed to perform better than the broader market in May, as exposure to sectors like capital goods and healthcare helped unit values. Such funds, which form the largest category of equity funds by number and assets, fell 2.4 percent during the month, compared to a 3.3 percent fall in the benchmark index, data from Lipper, a Thomson Reuters company, showed. Fears of further rate hikes, high inflation and worries about the euro zone debt crisis kept investors on the edge in May, as the benchmark fell for a second consecutive month.
News Source – ECONOMIC TIMES.
3.Top fund houses dazzle, but it's a struggle for the rest.
India's top fund houses have posted impressive growth numbers for FY11, despite being hobbled by equity fund outflows and regulatory changes marked by a ban on charging entry fees to investors. But apart from the top eight fund houses, the remaining 33 asset management companies are struggling to stay afloat. A marginal rise in their equity asset base, coupled with cost control measures and greater reliance on debt fund management, helped leading fund houses to generate profits, according to the chief executives of some of these firms.
The fund house league table is led by HDFC Mutual Fund , the asset management firm promoted by HDFC, which has reported a 16% rise in net profit at 242.18 crore. The profit before tax of Birla Sunlife Mutual Fund – part of the Aditya Birla group has gone up from 85 crore to 120 crore last fiscal. Reliance Mutual Fund, which is the largest in terms of assets managed, logged a profit before tax of 294 crore, up 10% from 2009-10.
News Source – ECONOMIC TIMES.
Latest Indian Mutual Fund News | 03-June-2011
Rate this post
https://www.investmentkit.com/articles/2011/06/latest-indian-mutual-fund-news-03-june-2011/AdminMutual Fundsasset management companies,Auto,benchmark index,capital,close,control measures,date,debt fund,Diversified,diversified equity funds,diversified mutual funds,document,Draft,equity,exposure,growth numbers,impressive growth,Indian,marginal rise,money market instruments,Mutual,mutual fund news,New,News,Offer,percent,Religare,reuters company,scheme,Sebi,second consecutive month,unit valuesNEW FUND OFFER1.Religare MF files offer document with Sebi to Launch Religare Fixed Maturity Plan - Series IX - Plan A to F.Religare Mutual Fund files offer document with Sebi to launch Religare Fixed Maturity Plan - Series IX - Plan A to F, a close ended debt scheme....Admin[email protected]AdministratorInvestmentKit Articles