Latest Indian Mutual Fund News | 29-July-2011
In an effort to incentivise the mutual fund distributors who had been left in the lurch after the entry-load ban in August 2009, SEBI has introduced transaction charges on investments in mutual funds.
For investments above Rs 10,000 in mutual funds, an investor will now be required to pay Rs 100 for each such transaction. In the case of a new mutual fund account being created, there will be a transaction charge of Rs 150 on the investor. No transaction charge will be imposed on investments below Rs 10,000, said SEBI Chairman, Mr U K Sinha at a press conference on Thursday.
News Source – BUSINESS LINE.
Taking a cue from government’s interest in raising funds for infrastructure financing, the Securities and Exchange Board of India (Sebi) has allowed both existing mutual funds and non-banking finance companies (NBFCs) to launch infrastructure debt funds (IDFs). Schemes would invest 90 per cent of its assets in debt securities of infrastructure companies or special purpose vehicles (SPVs) across all infrastructure sectors. Funds could launch close-end schemes that have a maturity of more than five years or it could also introduce interval schemes with a lock-in period of five years. Even companies that have been in the infrastructure financing sector in the last five years can set up a fund.
News Source – BUSINESS STANDARD.
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