UTI Mutual Fund has announced 5 October 2011 as the record date for declaration of dividend under the dividend option of UTI Fixed Income Interval Fund Annual Interval Plan III (debt oriented interval scheme). The quantum of dividend will be 100% distributable surplus as on the record date on the face value of Rs 10 per unit.
News Source – NAV INDIA.
Sebi proposal of minimum Rs 1-crore investment to channelise HNI money towards fund houses. The proposed regulations for alternative investment funds (AIFs) would come as a blessing in disguise for mutual funds. Market participants say the increase in the minimum investment size is bound to channelise a lot of high net worth money towards the fund industry.
Last month, the Securities and Exchange Board of India (Sebi) released a concept paper on proposed AIF norms. These would cover venture capital funds, private equity funds, debt funds, real estate funds and PIPE (private investment in public equity) funds, among others. It has proposed a minimum investment size of Rs 1 crore. The current norms allow a high net worth individual (HNI) to participate in a portfolio management scheme with as little as Rs 5 lakh.
News Source – BUSINESS STANDARD.
Tata Mutual Fund has announced change in exit load of Tata Gilt Securities Fund under all plans with effect from 1 October 2011. Accordingly, as per the revised load structure the scheme will charge nil exit load.
News Source – INDIA INFOLINE.
Reliance Mutual Fund has announced 5 October 2011 as the record date for declaration of dividend under the dividend payout option of Reliance Fixed Horizon Fund-XVI-Series 1 (close ended income scheme). The quantum of dividend will be entire distributable surplus available in the scheme as on the record date. The scheme recorded NAV of Rs 10.3344 per unit as on 28 September 2011.
JP Morgan has again launched a new foreign fund, JPMorgan Global Financials Equity Off-shore Fund, an open-ended fund of funds (FoF). The primary investment objective of the scheme is to provide ‘long-term capital growth’ by investing predominantly in JPMorgan Investment Funds-Global Financials Fund, an equity fund which invests primarily in companies from the financial, banking, insurance and property sectors, globally.
Baroda Pioneer Mutual Fund has also filed an offer document with SEBI to launch the Baroda Pioneer Global Equity-Gold & Mining Fund, an open-ended overseas FoF scheme investing in international funds. The investment objective of the scheme is to achieve ‘capital appreciation’ by investing predominantly in the units of Pioneer Funds-Gold & Mining Fund.
News Source – MONEY LIFE.
NEW FUND LAUNCH
BNP Paribas Mutual Fund has launched the New Fund Offer (NFO) BNP Paribas Fixed Term Fund – Series 22 E, a close ended debt scheme. The NFO opens for subscription on September 29, 2011 and closes on October 13, 2011. Entry and exit load charge will be nil for the scheme. The duration of the scheme will be 369 days from the date of allotment. The scheme offers dividend payout and growth option.
News Source – LIVE MINT.