1.Kotak MF declares dividend under opportunities fund.
Kotak Mutual Fund has declared dividend under the dividend option of Kotak Opportunities Fund, an open ended equity growth scheme on the face value of Rs 10 per unit. The quantum of dividend will be Rs 0.50 per unit as on record date. The record date for the dividend payout has been fixed as November 11, 2011.
News Source – LIVE MINT.
2.Mutual Fund houses Peerless, Edelweiss Mutual, Sahara, Baroda Pioneer and others derive 90% assets from big cities.
Amid shrinking asset bases and declining investor folios, only a handful of mutual fund houses are pushing themselves to spread out to smaller towns and villages. As per data shared by asset management companies, about 15 of the 35 fund houses have over 80% of their assets mobilized from the top five cities – Mumbai, Delhi, Kolkata, Chennai and Bangalore.
The industry body Association of Mutual Funds in India (AMFI) had asked fund houses to disclose the geographical spread of assets managed by them. Higher proportion of fixed income assets – mainly belonging to banks and corporate treasuries headquartered in metros and top-tier cities – has skewed the spread of asset towards top cities. This, coupled with lower distributor support in smaller cities and increased focus of fund houses on city-based investors, has made mutual funds an exclusive investment product for urban Indians.
News Source – ECONOMIC TIMES.
NEW FUND LAUNCH
3.Axis Capital Protection Oriented Fund – Series 1.
Axis Mutual Fund has launched Axis Capital Protection Oriented Fund – Series 1, a close ended income scheme. The new issue is open for subscription from 8th November and closes on 21st November 2011.
News Source – AMFI INDIA.
4.Religare Gold Fund files floats on.
Religare Mutual Fund has unveiled a new fund named as Religare Gold Fund, an open ended fund of fund schemes. The New Fund Offer price is Rs. 10 per unit. The new issue will open for subscription from 15 November to 29 November 2011. Investment objective: To provide returns that closely corresponds to returns provided by Religare Gold Exchange Traded Fund. Options offered: The scheme offers growth and dividend option. The dividend option further offers re-investment and payout facility.
News Source – INDIA INFOLINE.