Latest Indian Mutual Fund News | 14-July-2011
NEW FUND OFFER
Taurus Mutual Fund has filed offer document with Sebi to launch Taurus Fixed Maturity Plan Series K to M, a close ended debt scheme. The tenure of schemes would be 90 days to 400 days from the date of allotment. The New Fund Offer price is Rs 10 per unit. It is proposed to list the scheme(s) on National Stock Exchange or any other Stock Exchange(s) in India. The investment objective of the scheme is to generate income with minimum volatility through investments in a portfolio of debt and money market instruments maturing on or before the maturity of the Scheme.
News Source – NAV INDIA.
UTI Mutual Fund (UTI-MF) will target one crore investors under its micro pension initiative in the next three years, a top company official said Wednesday. "The micro pension initiative is targeted chiefly towards the unorganised sector which lacks basic social security," UTI-MF group president Jaideep Bhattacharya told reporters after an agreement with Srei Sahaj e-Village Ltd , which will provide distribution network for the scheme.
News Source – ECONOMIC TIMES.
Pharma stocks have become one of the top attractions for fund managers, amid an uncertain economic scenario. The domestic mutual fund industry increased its exposure in the pharma sector by 127 basis points in the June quarter, the steepest rise in holding in any sector. With this, pharma is the third-most sought after sector by fund houses, along with banks and software, pushing fast moving consumer goods (FMCG) a notch down, to fourth position.
News Source – BUSINESS STANDARD.
Edelweiss Mutual Fund has declared dividend under Edelweiss Diversified Growth Equity Top 100 Fund- Plan A & Plan C, on a face value of Rs 10. The quantum of dividend for distribution is Rs. 1 per unit. Edelweiss Diversified Growth Equity Top 100 Fund is an open ended equity fund, with an investment objective to generate capital appreciation, from a portfolio that is substantially constituted of equity securities and equity related securities of the 100 largest corporates by market capitalization, listed in India. The record date for dividend distribution is 19th July 2011.
News Source – MUTUAL FUND INDIA.
Structured mutual fund debt schemes that promise to fetch higher returns than plain-vanilla fixed income products are finding many takers among affluent investors and companies nowadays. These schemes simultaneously invest in banks' one-year certificate of deposits (CD) and high-yield corporate bonds with 15- to 18-month maturity to gain the edge over basic debt products. Fund managers of these schemes, as part of this strategy, lock in a significant portion – about 70%- of the investment portfolio in one-year CDs and the remaining in corporate bonds, including non-convertible debentures.
News Source – ECONOMIC TIMES.
NEW FUND LAUNCH
ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) ICICI Prudential Capital Protection Oriented Fund – Series II – 24 Months Plan, a close ended capital protection oriented fund. The NFO opens for subscription on July 14, 2011 and closes on July 28, 2011.
News Source – LIVE MINT.https://www.investmentkit.com/articles/2011/07/latest-indian-mutual-fund-news-14-july-2011/Mutual FundsAuto,close,date,Diversified,diversified growth,Draft,e village,economic scenario,Exchange,fund targets,Growth,ICICI,india general,investment,investment objective,jaideep,money market instruments,moving consumer goods,Mutual,mutual fund news,national stock exchange,New,News,Offer,pharma,pharma sector,pharma stocks,scheme,sector,srei,stock,unorganised sectorNEW FUND OFFER1.Taurus MF Files Offer Document with SEBI to Launch Taurus Fixed Maturity Plan Series K to M. Taurus Mutual Fund has filed offer document with Sebi to launch Taurus Fixed Maturity Plan Series K to M, a close ended debt scheme. The tenure of schemes would be 90...Admin[email protected]AdministratorInvestmentKit Articles
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