NEW FUND OFFER
DSP BlackRock Mutual Fund files offer document with Sebi to launch DSP BlackRock FMP – Series 21-40, close ended income schemes. The New Fund Offer price is Rs 10 per unit. The scheme will have tenure of 1 month to 13 months from the respective date of allotment. The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme.
News Source – NAV INDIA.
In a bid to ensure higher volumes, New Pension Scheme (NPS) fund managers have told the Pension Fund Regulatory and Development Authority (PFRDA) that they should be allowed to use their respective distribution networks (mutual fund agents) to sell the pension plan. In a meeting with the Pension Fund Regulatory and Development Authority (PFRDA), the managers had mooted the idea of training their existing sales agents on the NPS product. They had also proposed a commission of at least two-three per cent to the agents for selling the product.
News Source – BUSINESS STANDARD.
NEW FUND LAUNCH
Daiwa Mutual Fund launched Daiwa Fixed Maturity Plan – 3M – Series 2, a close ended income scheme. The new issue is open for subscription from 14th September and closes on 21st September 2011.
News Source – AMFI INDIA.