Franklin Templeton Mutual Fund has announced 28 October 2011 as the record date for declaration of dividend in Franklin Templeton Fixed Tenure Fund-Series X-Plan C and Franklin Templeton Fixed Tenure Fund-Series X-Plan D. For both Plan C and D the quantum of dividend will be Rs 0.660 per unit for individuals & HUF and Rs 0.566 per unit for others.
News Source – NAV INDIA.
Volumes at the country's biggest gold fund, Benchmark Mutual Fund, owned by Goldman Sachs Asset Management (India) pvt Ltd, rose by more than 17 times to 1.01 million units from an average of 59,002 units, indicating acceptance of the paper form of gold as an investment on the auspicious occasion. The fund recorded a volume of 1.115 million units on Akshaya Tritiya Day, another big gold buying festival in India.
"Overall sales have been much higher than average, and with the extended trading hours, it's likely to increase further," said Chirag Mehta, gold fund manager with Quantum Asset Management Company, which manages 450 million rupees in the fund. The Bombay Stock Exchange, which sells the gold ETF, have extended trading hours and waived transaction fees for Dhanteras sales, its spokesperson said in a statement.
News Source – MONEY CONTROL.
NEW FUND LAUNCH
HSBC Mutual Fund has announced that Daily Systematic Investment Plan (Daily SIP) facility will be available under HSBC Cash Fund and HSBC Floating Rate Fund a long term plan. The facility will be available from with effect from November 1, 2011. The key features of Daily SIP facility are minimum amount per SIP installments is Rs 2, 00,000 and minimum number of installments is 20 (daily).
News Source – LIVE MINT.