Latest Indian Mutual Fund News | 15-June-2011
With the markets on a steady downslide, investors in equity mutual funds (MFs) are now warming up to the idea of making an entry at lower levels. Net inflows (difference between purchases and sales made by investors) in equity funds stood at Rs 1,546 crore for May, the strongest showing in three months. Equity MFs had recorded net outflows to the tune of Rs 1,076 crore in April.
Investors used the 18,000 level (of sensex) to make an entry, industry officials said. Investments under systematic investment plans (SIPs) have also started gaining ground. "SIPs have picked up in the last month," said Raghav Iyengar, executive vice president, ICICI Prudential MF.
News Source – ECONOMIC TIMES.
NEW FUND LAUNCH
Edelweiss Mutual Fund has launched Edelweiss Fixed Maturity Plan – 91 days – Series 2, a close ended income scheme. The new issue is open for subscription from 16th June and closes on 22nd June 2011.
News Source – AMFI INDIA.
Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under quarterly dividend option in Retail & Institutional Plan of Reliance Regular Savings Fund – Debt Option (open ended scheme). The record date for dividend has been fixed as 21 June 2011. The quantum of dividend will be Rs 0.2350 per unit for retail plan and Rs 0.2589 per unit for institutional plan as on the record date.
News Source – NAV INDIA.
Despite weakness in equity markets, MFs see net inflows of Rs 5,000 cr till May this yr. Even as foreign institutional investors are underweight on Indian equities, retail investors are looking at entering the market at attractive valuations. According to Amfi data, equity mutual fund schemes witnessed net inflows of Rs 1,546 crore in May, after net outflows of Rs 1,076 crore in April. Rather than staying on the sidelines, retail investors are looking at the negative performance of the broader equity market as an opportunity. In the first five months of the calendar year, funds have seen net inflows of almost Rs 5,000 crore, which accounts for the sum total of inflows into ELSS, balanced, equity and ETFs (excluding gold).
News Source – BUSINESS STANDARD.
NEW FUND LAUNCH
JP Morgan Mutual Fund has announced the launch of JP Morgan ASEAN Equity Off-shore Fund, an open ended fund of funds scheme. The fund is open for subscription from 10th June to 24th June 2011.
News Source – MUTUAL FUND INDIA.
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