NEW FUND OFFER
Peerless Mutual Fund has filed offer document with Sebi to launch Peerless Flexible Income Fund, an open ended debt scheme. The primary investment objective of the Plan(s) of the scheme will endeavour to generate optimal returns through active duration management, while maintaining liquidity by investing in debt instruments including bonds, debentures and Government securities and money market instruments over various maturity periods.
News Source – NAV INDIA.
If you have Rs 5 lakh to Rs 25 lakh and have been entrusting this money to a portfolio manager, you may not have this luxury for very long if a SEBI proposal becomes a regulation. SEBI in a concept paper has suggested that the minimum amount for investment under Portfolio Management Services (PMS) could be Rs 25 lakh, and not Rs 5 lakh, as it is at present.
So where will someone with Rs 5 lakh to Rs 25 lakh go for customized investment advice and services? "Such a change will definitely affect people with these kind of sums to invest. They will have to invest in mutual funds," said Mr Dinesh Thakkar, CMD of Angel Broking.
News Source – BUSINESS LINE.
NEW FUND LAUNCH
SBI Mutual Fund, has launched SBI Gold Fund, an open ended Fund of Fund to enable the common man to invest systematically in gold and take advantage of the current rally. The New Fund Offer (NFO) open for subscription from August 22, 2011 and close on September 5, 2011.
News Source – MONEY CONTROL.