1.UTI Mutual Fund announces dividend under its Mastershare.
UTI Mutual Fund has announced dividend under UTI Mastershare, on the face value of Rs.10 per unit. The quantum of dividend decided for distribution under the scheme is Rs. 2.2 per unit. UTI Mastershare Unit scheme is an open ended equity scheme. The record date for distribution of dividend is 31st October 2011.
News Source – MUTUAL FUND INDIA.
2.Indiabulls Mutual Fund mobilises Rs 1,107 crore via maiden liquid fund.
Indiabulls Mutual Fund said it has garnered Rs 1,107 crore through its maiden liquid fund which was open for subscription for just one day. This is the first instance in this calendar year that any mutual fund has mobilised more than Rs 1,000 crore in a single working day, Indiabulls MF said in a statement here.
News Source – ECONOMIC TIMES.
Mutual funds have began complying with a new geography-wise assets under management (AUM) disclosure requirements mandated by the capital market regulator, the Securities and Exchange Board of India (Sebi), in its August 22 circular to all mutual funds, encompassing various decisions, including the Rs 100 charge per transaction that fund distributors could levy on mutual fund investors.
A FCRB analysis of 12 mutual funds, whose collective AUM at the end of second quarter (July-September) in the present financial year 2011-12 was Rs 4,72,408 crore, revealed as much as 69.11 per cent, or Rs 3,26,479 crore, of this came from the top five cities, which accounted for the largest collections. Investors from the next 10 cities accounted for Rs 74,622 crore, or 15.80 per cent of the total, while the next 95 cities bought in another Rs 56,008 crore, or 11.86 per cent of the total.
The break-up indicates only a small contribution of 15.14 per cent came from investors beyond the first 15 cities (from where the respective mutual funds received the highest collections).
News Source – FINANCIAL CHRONICLE.