Baroda Pioneer Mutual Fund has announced 7 September 2011 as the record date for the declaration of dividend on the face value of Rs 10 per unit in Baroda Pioneer 90 Day Fixed Maturity Plan – Series 2. The quantum of dividend will be Rs 0.1663 per unit as on the record date.
News Source – NAV INDIA.
Fund managers grab opportunity to pick high-valued stocks cheap. Indian fund managers are in no mood to lose the opportunity of getting into the equity markets at current levels. Picking valuable stocks is a good proposition and managers do not mind buying even if their available cash exhausts.
The level of haste among fund managers to buy equities can be gauged from the fact that monthly net investment by mutual fund houses in August hit a 38-month high, at Rs 2,524 crore, according to the statistics available from the Securities and Exchange Board of India (Sebi). Such an aggressive buying by mutual funds was last seen in June 2008, when managers pumped in Rs 3,179 crore.
News Source – BUSINESS STANDARD.
NEW FUND LAUNCH
ICICI Prudential Mutual Fund has launched a new fund namely, ICICI Prudential Capital Protection Oriented Fund – Series V – 60 Months Plan, a close ended capital protection oriented fund. The new issue will be open for subscription from 2nd September to 15th September 2011.
News Source – MUTUAL FUND INDIA.