Franklin Templeton Investments (India), has declared a dividend of 7% (Rs. 0.70 per unit on Face Value of Rs.10) in its open end equity fund – Templeton India Equity Income Fund. The record date for dividend has been fixed as September 16, 2011.
News Source – MONEY CONTROL.
The registration of Benchmark Mutual Fund has been cancelled by SEBI following the transfer of schemes to Goldman Sachs Mutual Fund. Benchmark was acquired by Goldman Sachs earlier this year in March for around Rs. 125 crore. The regulator in a release on its Web site informed that it had "cancelled the certificate of registration of Benchmark Mutual Fund and has withdrawn the approval granted to Benchmark Asset Management Company Pvt. Ltd, to act as the Asset Management Company." Benchmark Mutual Fund, which entered the industry in 2001, had established itself as a major ETF player and had the onus of introducing the first Gold ETF in the world.
News Source – BUSINESS LINE.
NEW FUND LAUNCH
Baroda Pioneer Mutual Fund launched Baroda Pioneer 90 Day Fixed Maturity Plan – Series 4, a close ended income scheme. The new issue is open for subscription from 15th September and closes on 19th September 2011.
News Source – AMFI INDIA.