UTI Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of UTI Fixed Income Interval Fund – Monthly Interval Plan I. The record date for dividend has been fixed as 27 July 2011. The quantum of dividend will be 100% of distributable surplus as on the record date.
News Source – NAV INDIA.
Institutions and firms allocating larger quantum of funds in debt segment. Mid-sized domestic fund houses outpaced the industry’s top majors in building assets in the June quarter. This is due to the shift in allocation of funds by institutions in smaller players and fixed maturity plans (FMPs) that led to a burgeoning corpus in their debt category.
SBI MF, IDFC MF, Tata MF, Deutsche MF and Kotak Mahindra MF, which manage between Rs 10,000 and Rs 50,000 crore, witnessed their assets under management rise by as much as 35 per cent. At a time when the assets’ growth rate for the top five players is below 10 per cent, players in the second rung are riding on a higher growth trajectory.
News Source – BUSINESS STANDARD.
The committee on mutual funds appointed by SEBI to look into the issues faced by the industry is likely to submit its recommendations to the Board of SEBI when it meets on July 28. One of the issues that the committee has addressed pertains to the expense ratio of asset management companies, sources said. The committee, it is gathered, is recommending that the sub-head caps within the expense ratio be done away with. This will provide some room to mutual funds to give better commissions to their agents.
News Source – BUSINESS LINE.