Stock market regulator Sebi has ordered mutual funds to raise the minimum amount they hope to raise through new equity fund schemes as part of a crackdown on what it calls are 'casual fund launches'. Sebi has asked mutual fund houses to increase the minimum target amount (MTA) mentioned in the fund prospectus to Rs 10 crore in case of equity schemes and Rs 20 crore in other fund categories, up from nominal amounts of between Rs 10 lakh and Rs 1 crore now.
News Source – ECONOMIC TIMES.
Global mutual funds offered to Indian investors are touted as a tool to spread the risk of investment and to benefit from any upturn the global markets may witness when the Indian equity markets may be down. The great attraction of global funds is that they offer an opportunity to own, albeit indirectly through the MFs, great shares such as GE, Microsoft, JP Morgan, Wal-Mart etc., to name just a few.
Of the 28 global funds, only three (as per Value Research data) have offered returns over one year period that are in double digits. While 10 others have shown sub-10 per cent returns over one year, 11 have offered negative returns during this period.
News Source – BUSINESS LINE.
With global stock markets turning weak in August, investors here in India appear to have taken a fancy to gold exchange traded funds. Data shows that assets of Gold ETFs in India jumped nearly three times in August when compared to the same period last year, writes MineWeb's Shivom Seth in Mumbai.
Currently, there are 11 Gold ETFs in India. Fund houses like Baroda Pioneer MF, Motilal Oswal MF, IDBI MF and Birla Sun Life MF are said to be planning an issue of gold funds and have already filed an offer document with India's market regulator, the Securities and Exchange Board of India.
News Source – Bullion Vault.
Religare Mutual Fund has extension of the closing date of the New Fund Offer (NFO) period of Religare Fixed Maturity Plan-Series IX-Plan E (370 Days), a close ended debt scheme from 20 September 2011 to 26 September 2011.
News Source – NAV INDIA.