Latest Indian Mutual Fund News | 08-Sep-2011


1.Punjab & Mah Coop Bank to sell Tarus MFs

Punjab & Maharashtra Cooperative Bank and Taurus Mutual Fund have joined hands to distribute mutual fund products through the bank branches. The scheduled bank will sell the products through its 90 branches across the country. "I see it as a very important tie-up… because Punjab & Maharashtra Cooperative Bank has shown a better understanding and commitment to promote MFs," Taurus Mutual Fund Chief Executive Waqar Naqvi said. According to the Association of Mutual Funds in India (AMFI), Taurus Mutual Fund Managed Rs 5,021.23 crore worth assets as of June 30.

News Source – IBN LIVE.

2.International themes could boost your portfolio.

While retail investors can look at international mutual fund schemes, HNIs have good options in real estate.

High net worth individuals (HNIs), are looking abroad to maximise returns. G Chokkalingam, executive director and chief investment officer, Centrum Wealth Management, says real estate in Europe, especially Britain, is available at cheap rates and likely to fall even more. "One should invest in real estate in a phased manner. Investors had made good money by investing in real estate in countries like the UK, post the Lehman crisis. One can look at agri-commodities like natural rubber, too," he says.

HSBC Asset Management has a Brazil-dedicated fund and Reliance AMC has an Indonesia fund (Reliance Indonesia Opportunities Fund). JP Morgan's Asean fund invests in Singapore, Indonesia, Malaysia, Thailand, Vietnam, Philippines, Cambodia, Brunei, Laos and Myanmar. Motilal Oswal AMC has a Nasdaq-linked exchange traded fund (ETF).

However, not everyone is so keen yet on the international theme. Prashanth Prabhakaran, president-retail broking at India Infoline, says he is recommending Indian equities and commodities to his retail investors and high net worth clients. "After six months to a year, if the scenario has changed, we will advise our clients to invest in the markets that look the most attractive at that point in time. The global markets will take some time to recuperate from these levels," he explains.

However, for ones looking abroad, there are options, especially for HNIs. Armed with the $200,000 per head limit allowed by the Reserve Bank of India, an investor can look at assets classes abroad.



3.Peerless MF introduces Peerless Equity Fund.

Peerless Mutual Fund has launched the New Fund Offer (NFO) Peerless Equity Fund, an open ended equity fund. The NFO opens for subscription on September 7, 2011 and closes on September 21, 2011. Entry load charge will be nil for the scheme. Exit load charge will be 1% if exited before 1 year. The scheme offers dividend payout and growth option.

News Source – NAV INDIA.


1.Sundaram Select Micro Cap Series I files offer document with Sebi.

Sundaram Mutual Fund files offer document with Sebi to launch Sundaram Select Micro Cap Series I, a five-year closed-end equity scheme. To seek capital appreciation by investing predominantly in equity/equity-related instruments of companies that can be termed as micro-caps. A company whose market capitalisation is equal to or lower than that of the 301st stock by market cap on the NSE at the time of investment will be considered to be in micro-cap category.

News Source – NAV INDIA.


2.Peerless MF plans 4-5 new fund offers.

Peerless Mutual Fund plans to launch four-to-five new fund offers in the debt and equity segment over the next two-to-three years. The company would also look at launching a real estate fund as and when the regulator comes out with clear guidelines on the sector, said Mr Akshay Gupta, Managing Director and Chief Executive Officer, Peerless Mutual Fund.

News Source – BUSINESS LINE.

3.Axis Mutual Fund revises exit load structure for its two schemes.

Axis Mutual Fund has decided to revise the exit load structure under Axis Short Term Fund and Axis Dynamic Bond Fund, an open ended debt schemes. Under Axis Short Term Fund the exit load of 0.50 per cent will be charged if units are redeemed or switched out within 6 months from the date of allotment. Furthermore, the exit load of 0.75 per cent will be charged if units are redeemed or switched out within 12 months from the date of allotment under Axis Dynamic Bond Fund. The revised exit load structure will be effective from 9th September 2011.


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