small;”>NEW FUND OFFER

1.Motilal Oswal MOSt Shares NASDAQ Fund of Fund files offer document with Sebi.

Motilal Oswal Mutual Fund files offer document with Sebi to launch Motilal Oswal MOSt Shares NASDAQ Fund of Fund (MOSt Shares NASDAQ FoF), an open ended Fund of Funds Scheme. The New Fund Offer price is Rs 10 per unit. The investment objective of the Scheme is to seek returns by investing in units of Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100).

News Source – NAV INDIA.



GENERAL

2.Taxation of qualified foreign investors to rest with MFs.

Mutual funds will be responsible for deduction of tax at source (TDS) on any profits made by qualified foreign investors (QFIs), a top Finance Ministry official has said. QFIs are new category of foreign investors who will be allowed to invest in equity schemes of Indian mutual funds. This category essentially comprises foreign individuals, companies and pension funds that are not separately registered as a foreign institutional investor (FII) or a non-resident Indian (NRI) with the Securities and Exchange Board of India (SEBI).

News Source – BUSINESS LINE.

3.Government puts ceiling of $10 bn on QFIs investments.

The government has put a ceiling of $10 bn on overall investments by qualified foreign investors, which will include individuals and bodies such as pension funds, in domestic mutual funds. The move comes after the Finance Minister Pranab Mukherjee in his budget speech for 2011-12 had said that the government will liberalise the portfolio investment route and registered mutual funds will be allowed to accept subscriptions from foreign investors.

News Source – ECONOMIC TIMES.

NEW FUND OFFER

4.Religare MF files offer document with Sebi to Launch Religare Fixed Maturity Plan – Series X – Plan A to F.

Religare Mutual Fund files offer document with Sebi to launch Religare Fixed Maturity Plan – Series X – Plan A to F, a close ended debt scheme. Religare Fixed Maturity Plan – Series X – 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). The New Fund Offer price is Rs 10 per unit. 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.

DIVIDEND

5.Deutsche Mutual Fund announces dividend under its schemes.

Deutsche Mutual Fund has declared dividend under DWS Premier Bond Fund and DWS Twin Advantage Fund. The quantum of dividend under both the schemes is Rs 0.15 per unit. DWS Premier Bond Fund is an open ended debt scheme with an investment objective to provide regular income by investing in debt securities including bonds and money market instruments. DWS Twin Advantage Fund is an open-ended income scheme with an objective to generate regular income in order to make regular payments to unit holders and growth of capital. The record date for dividend distribution is 30th June 2011.

News Source – MUTUAL FUND INDIA.

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