ING Mutual Fund has declared a dividend of 30% (Rs. 3.00 per unit on Face Value of Rs.10) under the dividend plan ING Dividend Yield Fund (open-ended equity scheme). The record date for dividend has been fixed as June 13, 2011.
News Source – MONEY CONTROL.
2.Mutual funds' asset base shrinks 7% in May.
Faced with redemption pressures in liquid and income funds, the mutual fund industry saw its assets under management fall by 7 per cent in May. The assets under management (AUM) of the mutual fund industry declined from Rs 7.85 lakh crore in April 2011 to Rs 7.31 lakh crore in May. This is line with expectations, say fund analysts, as funds from liquid and money market schemes generally see their way out of the system at the beginning of every fiscal quarter.
News Source – BUSINESS LINE.
NEW FUND LAUNCH
DSP BlackRock Mutual Fund has announced the New Fund Offer (NFO) DSP BlackRock FMP – 3M – Series 38, close-ended income scheme. The NFO opens for subscription on June 10, 2011 and closes on June 14, 2011. The tenure of plan will be 3 months from the date of allotment. No entry and exit load is applicable. The scheme offers growth and dividend payout option.
News Source – LIVE MINT.
After a gap of two months, equity mutual funds (MFs) have witnessed positive inflows to the tune of Rs 1,500 crore in the month of May. However, on an overall basis, the MF industry saw redemptions of over Rs 48,800 crore with most money flowing out of income and liquid schemes amid tight liquidity conditions. According to data provided by the Association of Mutual Funds in India (Amfi), average assets under management (Aaum) in the month of May stood at over Rs 7.31 lakh crore down by 6.9% as compared to April. Market participants, inflows into equity schemes were propelled by inflows coming through systematic investment plans (SIPs).
News Source – FINANCIAL EXPRESS.
Edelweiss Mutual Fund collected over Rs 1.07 billion during the New Fund Offer period of its maiden FMP viz., Edelweiss Fixed Maturity Plan – 91 days – Series 1 (the Scheme). The Scheme, which closed on June 6, 2011 will under normal market conditions, generate regular income through investments in Debt and Money Market Instruments maturing on or before the Maturity Date of the Scheme. Income may also be generated through the amortization of discount on debt instruments, or the purchase and sale of securities in the underlying portfolio.
News Source – MYIRIS.