GENERAL

1.Complaints to MFs fall on classification rejig.

Complaints registered with mutual fund houses saw a sharp drop of 74 per cent in fiscal 2010-11 owing mainly due to changes in the classification of complaints. The total number of complaints at the end of the 2009-10 fiscal was 3.9 lakh; this declined to 1.02 lakh in 2010-11.

For example, if an investor applies for redemption and follows it up on the second day to check on the status, this will no longer be deemed a complaint. Earlier any such phone call was considered a complaint, leading to an extraordinarily large number of complaints.



News Source – BUSINESS LINE.

NEW FUND LAUNCH

2.ICICI Prudential MF introduces Capital Protection Oriented Fund – Series III – 36 Months Plan.

ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) ICICI Prudential Capital Protection Oriented Fund – Series III – 36 Months Plan, a close ended capital protection oriented fund. The NFO opens for subscription on July 1, 2011 and closes on July 15, 2011.

News Source – LIVE MINT.

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Admin July 1, 2011

AdminMutual FundsAuto,business line,call,close,Draft,drop,fiscal,Fund,ICICI,icici prudential,icici prudential mutual fund,Indian,indian mutual fund,investor,july 1,launch 2,mf,mint,Mutual,mutual fund news,New,News,news source,NFO,Offer,phone,phone call,prudential,redemption,source business,subscriptionGENERAL 1.Complaints to MFs fall on classification rejig. Complaints registered with mutual fund houses saw a sharp drop of 74 per cent in fiscal 2010-11 owing mainly due to changes in the classification of complaints. The total number of complaints at the end of the 2009-10 fiscal was 3.9 lakh; this...Educating Investors

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