GENERAL

1.Gold MFs by Reliance Mutual Fund, Kotak Mutual Fund and SBI Mutual Fund a big hit, outshine equity.

Record-level gold prices may have dampened the demand for jewellery, but it has hardly dented investors' appetite for products based on the yellow metal. Gold schemes with the facility to make periodic purchases, floated by Reliance Mutual Fund, Kotak Mutual Fund and SBI Mutual Fund, have seen sizeable inflows, prompting other asset management companies to plan similar product launches.

ICICI Prudential's opened its gold fund-of-fund NFO for subscription last week. Birla Mutual Fund and Baroda Pioneer Mutual Fund have filed drafts with market regulator Sebi to launch such schemes and many others are expected to follow suit. Fund houses are looking to cash in on the frenzy for gold products among investors, who are fleeing stocks because of the uncertainty over the debt crisis in Europe and worries about a recession in the US.



News Source – ECONOMIC TIMES.

2.In advanced talks with Nippon to sell stake in RelCap: Anil.

 

Reliance Capital Chairman Anil Ambani today said the company is looking at unlocking value by divesting across its businesses and is in "advanced stage" of talks to sell a stake in its asset management and mutual funds business to Nippon Life of Japan. Speaking to the shareholders at the company's AGM here, Ambani also informed that Reliance Capital will explore all possible opportunities to enter the banking sector and announced that the banking entity of the group could be called Reliance Bank.

News Source – MONEY CONTROL.

3.Mirae Hoards Cash to Buy Emerging Debt When Europe Crisis Eases.

 

Mirae Asset Global Investments, South Korea's biggest mutual fund manager, is increasing its cash holdings, preparing to buy fixed-income assets in emerging markets after Europe's debt crisis eases. Heo Joon Hyuk, who manages 1.4 trillion won ($1.2 billion) as the New York-based head of global fixed-income investment at Mirae Asset, said in a phone interview yesterday that his debt funds would boost holdings of cash to 25 percent from 20 percent. Developing-nation debt has slumped because global funds sought to accumulate cash and not because of any change in the countries' economic fundamentals or growth outlooks, Heo said.

READ  Latest Indian Mutual Fund News | 19-Apr-2012

News Source – BLOOMBERG BUSINESS WEEK

4.India Infoline AMC to launch Nifty-linked ETF.

 

India Infoline Asset Management Company (AMC) said on Tuesday it would launch an exchange-traded fund (ETF) based on the National Stock Exchange's benchmark Nifty index, targeting one of the fastest-growing categories in the Indian mutual fund sector. The IIFL Nifty ETF will be the first offering from the fund house, backed by the Mumbai-based India Infoline Group (IIFL), after it received regulatory approval to start the business in March. India Infoline AMC will be the 46th player in India's competitive MF space, which collectively had average assets under management (AUM) of Rs 7,43,719 crore as on June 30, shows data from the Association of Mutual Funds in India (Amfi).

News Source – BUSINESS STANDARD.

NEW FUND LAUNCH

5.L&T MF Launches L&T MIP – Wealth Builder Fund.

 

L&T Mutual Fund announced the launch of L&T MIP – Wealth Builder Fund, an Open Ended Income Scheme by further expanding the investment options it offers to its investors. The new issue will be open for subscription from 27 September and close on 11 October 2011.

News Source – NAV INDIA.

NEW FUND OFFER

1.Tata Capital Protection Oriented Fund Series 3 & 4 files offer document with Sebi.

 

Tata Mutual Fund files offer document with Sebi to launch Tata Capital Protection Oriented Fund Series 3 & 4, a 3 year Close Ended Capital Protection Oriented Scheme. The primary investment objective of scheme is to seek income and minimize risk of capital loss by investing in a portfolio of fixed income securities. The Scheme may invest a part of the assets in equity and equity related instruments to seek capital appreciation.

READ  Latest Indian Mutual Fund News | 15-Mar-2012

News Source – NAV INDIA.

DIVIDEND

2.UTI MF Declares Dividend under Balanced Fund Wealth Builder Fund – Series II.

 

UTI Mutual Fund announced the declaration of dividend on the face value of Rs. 10 per unit under dividend option of UTI Balanced Fund & UTI Wealth Builder Fund – Series II. The record date for dividend has been fixed as 3 October 2011.

News Source – INDIA INFOLINE.

3.Reliance MF Declares Dividend for Quarterly Interval Fund Series I.

 

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs. 10 per unit under dividend option of retail and institutional plan under Reliance Interval Fund – Quarterly Interval Fund Series I. The record date for dividend has been fixed as 3 October 2011.

News Source – INDIA INFOLINE.

GENERAL

4.Indian MF industry gets Rs 4,800 crore cover from insurance arms of Army, Navy and the Air Force.

 

Defence forces have come to support the Indian MF industry, the insurance arms of Army, Navy and the Air Force have been notable investors in equity MFs over the past few months. According to data sourced from registrars, funds and investment consultants, the insurance arms of Indian armed forces have been investing around 100-150 crore in equity MFs every month. Defence forces' investment in equity MFs stood at 4,800 crore, with Army Group Insurance Fund contributing more than half the amount. Navy Group Insurance Fund and Air Force Group Insurance Society have smaller sums of money invested in equity funds.

READ  Latest Indian Mutual Fund News | 01-Sep-2012

News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

5.SBI MF introduces SBI Debt Fund Series – 18 Months – 7.

 

SBI Mutual Fund has announced the New Fund Offer (NFO) SBI Debt Fund Series – 18 Months – 7, a close ended debt scheme. The NFO opens for subscription on September 29, 2011 and closes on October 7, 2011. Entry and exit load charge will be nil for the scheme. The duration of the scheme will be 18 months from the date of allotment. The scheme offers dividend payout and growth option.

News Source – LIVE MINT.

Rate this post







Subscribe Updates, Its FREE!

Email ID:



+Admin


Admin September 29, 2011

AdminMutual FundsAnil,anil ambani,asset management companies,business,emerging debt,equity,global investments,gold products,icici prudential,income,Indian,Infoline,Interval,investment,Kotak,level gold,market regulator,Mirae,money control,Mutual,mutual fund news,mutual funds business,News,Nippon,reliance bank,reliance capital,reliance mutual fund,sbi,Sebi,stakeGENERAL 1.Gold MFs by Reliance Mutual Fund, Kotak Mutual Fund and SBI Mutual Fund a big hit, outshine equity. Record-level gold prices may have dampened the demand for jewellery, but it has hardly dented investors' appetite for products based on the yellow metal. Gold schemes with the facility to make periodic...Educating Investors