Franklin Templeton Mutual Fund has declared dividend under Franklin India High Growth Companies Fund, on a face value of Rs. 10 per unit. The quantum of dividend for distribution is Rs.0.50 per unit. Franklin India High Growth Companies Fund is an open ended diversified equity fund, with investment objective to achieve capital appreciation through investments in Indian companies / sectors with high growth rates or potential. The record date for dividend distribution is 22nd July 2011.
News Source – MUTUAL FUND INDIA.
Domestic banks may emerge as top distributors of equity mutual fund schemes in the next three years, if their annual sales targets for these products are met. Bank managements have set aggressive goals for their branches across the country to sell equity schemes with systematic investment plans (SIPs) that could revive the sagging fortunes of the mutual fund industry.
State Bank of India, India’s biggest lender with a sprawling network of over 15,000 branches, plans to sell 25 lakh SIP units this financial year ending March 31, 2012. Axis Bank, which has a network of almost 1,300 branches, intends to sell 5 lakh SIP units and state-owned Canara Bank, with 3,250 branches, has set a target of 2 lakh SIP units, people familiar with the individual banks’ plans said.
News Source – ECONOMIC TIMES.
NEW FUND LAUNCH
Sundaram Mutual Fund has launched a new fund as Sundaram Capital Protection Oriented Fund 3 Years – Series 4, a close ended capital protection oriented scheme. The New Fund Offer (NFO) open for subscription from July 15, and close on July 29, 2011.
News Source – MONEY CONTROL.