Latest Indian Mutual Fund News | 07-Sep-2011


1.Pramerica Dynamic Bond Fund files offer document with Sebi.


Pramerica Mutual Fund files offer document with Sebi to launch Pramerica Dynamic Bond Fund, an open ended income scheme. The New Fund Offer price is Rs 1000 per unit. The objective of the scheme is to generate optimal returns through active management of a portfolio of debt and money market instruments.

News Source – NAV INDIA.


2.SEBI notifies infra debt schemes in official gazette.


SEBI's amendments to its mutual fund regulations have been notified in the Gazette of India on August 30. The Government had in June released guidelines for infrastructure debt funds that can be set up by mutual funds and NBFCs. While SEBI will monitor the schemes launched by mutual funds, NBFCs launching such schemes will be regulated by the RBI.

The notification by SEBI defines an infrastructure debt fund scheme as a mutual fund scheme that invests primarily (minimum 90 percent of scheme assets) in the debt securities or securitized debt instruments of infrastructure companies or infrastructure capital companies or infrastructure projects or special purpose vehicles which are created for the purpose of facilitating or promoting investment in infrastructure, and other permissible assets in accordance with these regulations or bank loans in respect of completed and revenue generating projects of infrastructure companies or projects or special purpose vehicles.

News Source – BUSINESS LINE.

3.UTI Mutual Fund announces merger of UTI Wealth Builder Fund into its Opportunities Fund.


UTI Mutual Fund has announced the merger of UTI Wealth Builder Fund with UTI Opportunities Fund. The 5-year term of the UTI Wealth Builder Fund is getting completed in October 2011. So, it is being merged to maintain the open-ended nature of the fund. If unit holders of UTI Wealth Builder Fund do not wish to continue, they can redeem existing units at prevailing NAV without any load from 5th September 2011 to 4th October 2011.


4.Most equity funds lag benchmark indices.


The mutual fund industry needs to pull up its socks, as a large number of schemes have underperformed their benchmark indices. According to the latest Standard & Poor's Index versus Active Funds scorecard (produced in partnership with Crisil), a majority of actively-managed Indian MFs have underperformed their respective benchmarks over the past five years. The performance has been no better over a three-year or one-year period.


Latest Indian Mutual Fund News | 07-Sep-2011
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