GENERAL

1.ING Mutual Fund announces revision in fundamental attributes of ING Liquid Fund.

ING Mutual Fund has announced revision of fundamental attributes of ING Liquid Fund. The nature of the scheme is being changed from an open ended liquid income scheme to an open ended liquid scheme. The investment objective of the scheme is to generate reasonable returns while providing a high level of liquidity and low risk by investing in money market securities. All the existing investors of this scheme as on 30th May 2011 would be provided an exit option without charging an exit load from 6th June 2011 to 5th July 2011. The change will be effective from 6th July 2011.
News Source – MUTUAL FUND INDIA.

NEW FUND LAUNCH

2.Taurus MF Unveils 370 Days FMP.

Taurus Mutual Fund has launched a new fund named as Taurus Fixed Maturity Plan -Series G (370 Days), a close ended debt scheme with the duration of 370 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 9 June and close on 14 June 2011.
News Source – NAV INDIA.

GENERAL

1.Amfi to revive plans to start a fund trading online platform, front-end portal.

Association of Mutual Funds in India (Amfi) is reviving an earlier proposal to launch an online platform which will help distributors and financial advisors transact mutual fund schemes across sales channels. The "front-end" portal will link the stock exchange fund platforms and also enable investors to buy or sell schemes directly from any of the registered 41 mutual funds, according to fund industry sources. 

By planning to link the proposed portal with exchange platforms, the mutual fund industry body is trying to bypass stock brokers, who are not keen to sell mutual funds, industry sources said. The wire-frame platform is expected to be functional in six months, the sources said.
News Source – ECONOMIC TIMES.



2.Fidelity MF awarded 'Best Fund House – Equity' by Lipper Fund Awards 2011.

Fidelity Mutual Fund has won the "Best Fund House Over the Past Three Years" award in the equities category in the Lipper Fund Awards 2011 for India. The awards – given out by Lipper, a Thomson Reuters company – honour fund management firms and individual mutual funds that excel in delivering consistently strong risk-adjusted performance, relative to their peers.
News Source – BUSINESS STANDARD.

GENERAL

1.Mahindra Fin to focus on rural products for AMC business.

Mahindra Finance, the non-banking finance arm of the USD 11.1-billion Mahindra Group plans to focus on investors in the rural areas for its soon to be launched asset management company. Mahindra Finance had applied for a mutual fund license last year, but then decided to go slow, due to adverse market conditions. Ramesh Iyer, managing director, Mahindra Finance told moneycontrol.com that the company is expecting an in-principal approval from market regulator Sebi by August.
News Source – MONEY CONTROL.

2.Pramerica Mutual Fund changes exit load structure under Pramerica Treasury Advantage Fund.

Pramerica Mutual Fund has decided to revise the exit load structure under Pramerica Treasury Advantage Fund. Accordingly, an exit load of 1 per cent will be charged if the units are redeemed / switched-out on or before 365 days from the date of allotment. Pramerica Treasury Advantage Fund is an open ended debt scheme which has the investment objective to provide reasonable returns, commensurate with moderate level of risk and high degree of liquidity, through a portfolio constituted of money market and debt instruments. The revised structure will be effective from 7th June 2011.
News Source – MUTUAL FUND INDIA.

NEW FUND LAUNCH

3.Baroda Pioneer MF Launches Baroda Pioneer 90 Day Fixed Maturity Plan – Series 2.

Baroda Pioneer Mutual Fund has launched a new fund named as Baroda Pioneer 90 Day Fixed Maturity Plan – Series 2, a close ended debt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 7 June and close on 8 June 2011.
News Source – NAV INDIA.

Latest Indian Mutual Funds | 07-June-2011
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