Tata Mutual Fund may go in for strategic tie-ups that will offer opportunity to qualified foreign investors (QFIs) to tap the Indian market. In order to promote the portfolio investment route, the Government last month allowed QFIs — individual, group or association — to invest up to USD 13 billion in equity and debt schemes of mutual funds in the infrastructure sector. Besides, with an aim to further liberalise the capital market, the Government is contemplating to allow foreign individuals to buy equities directly in stock markets.
News Source – MONEY CONTROL.
NEW FUND LAUNCH
Union KBC Mutual Fund has Launched Union KBC Fixed Maturity Plan-92 Days-Series 1, a Close Ended Scheme. The new issue is open for subscription from 18th October and closes on 19th October 2011.
News Source – AMFI INDIA.
L&T Mutual Fund has announced 24 October 2011 as the record date for declaration of dividend under L&T FMP-III (April 180D A)-Dividend payout option. The quantum of dividend will 100% distributable surplus as on the record date on the face value of Rs 10 per unit. The scheme recorded NAV of Rs 10.4275 per unit as on 14 October 2011.
News Source – NAV INDIA.
Market volatility has slowed down redemptions in equity mutual fund (MF) schemes. Redemptions or exits made by investors in equity funds in September was Rs 3,095 crore, the lowest in seven months. After hitting a peak in September last year when the sensex raced past the 20,000 mark, redemptions have mostly remained at average levels of Rs 4,200 to 4,600 crore a month since March. However, investor exits have fallen sharply ever since the markets went into a tail-spin following the uncertain global economic outlook and slowing domestic growth.
News Source – ECONOMIC TIMES.
What is the best way to choose a mutual fund that negotiates different market conditions? There are no easy answers. If you go simply by performance, you will have to decide about the period for which you are analyzing fund performance. You will often come across analyses which describe how a large number of funds have done so well when the Sensex is up by only so much. The fact is that buying equity mutual funds based on such analyses will only land you with funds which do well in a particular market climate. Many funds that outperform during a bull market, struggle to beat their benchmark in a bear market.
This is the fourth time we are presenting to you this novel analysis of funds. Judging by the record of the past three years, it has worked well. However, the schemes selected this time are on the basis of a changed methodology and should, hopefully, fare even better.
The top picks are:
1. HDFC Mutual Fund 2. HDFC Equity 3. Franklin Templeton Mutual Fund 4. Reliance Mutual Fund 5. Tata Mutual Fund 6. Tata Equity P/E Fund 7. Birla Sun Life Mutual Fund 8. Quantum Mutual Fund 9. UTI Mutual Fund 10. ICICI Prudential Mutual Fund 11. Fidelity Mutual Fund 12. DSP BlackRock Mutual Fund.
News Source – MONEY LIFE.
NEW FUND LAUNCH
ICICI Prudential Mutual Fund has announced the New Fund Offer (NFO ICICI Prudential Fixed Maturity Plan – Series 57- 3 Years Plan C, a close ended debt scheme. The NFO opens for subscription on October 24, 2011 and closes on November 4, 2011.No entry and exit load charges is applicable for the scheme. The duration of the scheme will be 3 years from the date of allotment. The scheme offers dividend payout and cumulative option.
News Source – LIVE MINT.