DIVIDEND

1.Daiwa MF announces dividend under Daiwa Government Securities Fund-Short Term Plan.

Daiwa Mutual Fund has announced 23 June 2011 as the record date for declaration of dividend under the dividend option of Daiwa Government Securities Fund-Short Term Plan, an open ended gilt scheme. The quantum of dividend will be Rs 11.57 per unit on the face value of Rs 1000 per unit.

News Source – NAV INDIA.

GENERAL

2.Bank of India in talks with Bharti Axa, 2 others for MF entry.

Public sector lender Bank of India today said it is in talks with Bharti Axa and two asset management companies for an entry into the mutual funds business and hopes to seal the deal before end September. "We are in talks with Bharti AXA and two other companies …we will announce it before end of the next quarter," Chairman and Managing Director, Mr Alok Misra, told reporters. Bharti, which exited life insurance business earlier this month by selling its stake in Bharti Axa Life Insurance to Reliance Industries, is also tipped to be looking at options of exiting other non-core businesses, to concentrate on telecom and retail.



News Source – BUSINESS LINE.

3.Govt may allow foreign individuals to invest $10 bn in MFs.

India is likely to allow foreign individuals to invest in mutual funds in the next two weeks but with a cumulative cap of USD 10 billion, an official said. The detailed guidelines are being worked out jointly by the finance ministry, RBI and Sebi. These will be notified by the capital market regulator, the Finance Ministry official said.

News Source – ECONOMIC TIMES.

Latest Indian Mutual Fund News | 20-June-2011
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