GENERAL

1.Institutional shareholding in RIL rises to record high.

Institutional investors such as mutual funds and insurance companies seem to have caught a fancy for shares of Reliance Industries as their holding in the company has grown to a record high. In the process, the market value of overall institutional holding in RIL has grown by more than Rs 1,500 crore. Despite a dismal performance of the stock in comparison to the broader market trends MFs, as also government and private insurers have raised their holding in the company over the past six months.

News Source – ECONOMIC TIMES.

DIVIDEND

1.Franklin Templeton Mutual Fund announces dividend under Franklin India Prima Fund.

Franklin Templeton Mutual Fund has declared dividend under Franklin India Prima Fund, on the face value of Rs 10 per unit. The quantum of dividend for distribution is Rs 6 per unit. Franklin India Prima Fund has the investment objective to provide medium to long term capital appreciation as a primary objective and income generation as a secondary objective. The record date for dividend distribution is 17th June 2011.

News Source – MUTUAL FUND INDIA.

GENERAL



2.FMPs gaining favour with investors: Experts.

With interest rates rising and equity markets being increasingly volatile, investors are favouring fixed maturity plans (FMPs) for higher returns, experts said. Fund managers are also advising investors to keep an FMP in their portfolio since the close-ended debt schemes with a predetermined maturity date generate steady returns. The FMPs invest in money market instruments, corporate debt and government securities. Conventionally, FMPs give slightly better return than bank fixed deposits. “In a rising interest rate scenario, risk averse investors are putting in money in such schemes of shorter duration,” DSP BlackRock Mutual Fund Head of Sales Ajit Menon said.

News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

3.Union KBC MF introduces Union KBC liquid fund.

Union KBC Mutual Fund has announced the New Fund Offer (NFO) KBC Liquid Fund, an open ended liquid scheme. The NFO opens and closes for subscription on June 14, 2011. No entry and exit load is applicable. The scheme offers growth and dividend payout option. The scheme will be benchmarked against CRISIL Liquid Fund Index. The minimum application amount will be Rs 5000 and in multiple of Rs 1 thereafter.

News Source – LIVE MINT.

Latest Indian Mutual Fund News | 13-June-2011
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