Latest Indian Mutual Fund News | 11-Nov-2011
NEW FUND OFFER
1.LICMF Fixed Maturity Plan Series 50-51-52-53 Files Offer Document With Sebi.
LIC Mutual Fund files offer document with Sebi to launch LICMF Fixed Maturity Plan Series 50-51-52-53, a close ended income scheme. The New Fund Offer price is Rs 10 per unit. Investment objective: The investment objective of the Scheme is to minimize interest rate risk by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the scheme.
News Source – NAV INDIA.
2.IDBI Dynamic Bond Fund Files Offer Document With Sebi.
IDBI Mutual Fund has filed offer document with Sebi to launch IDBI Dynamic Bond Fund, an open ended income fund. The NFO price will be Rs. 10 per unit. Investment Objective: The objective of the Scheme is to generate regular income while maintaining liquidity through active management of a portfolio comprising of debt and money market instruments.
News Source – INDIA INFOLINE.
3.Sebi wants MF houses to rope in more brokers while launching ETFs.
The securities market regulator, Sebi, has told fund houses to strengthen market making while launching exchange-traded funds (ETFs). The regulator wants fund houses to empanel more brokers as market makers and allot a larger trading book to them for creating liquidity on the exchange, mutual fund industry officials said.
In the case of gold exchange-traded funds, the regulator wants asset management companies, or fund houses, to appoint more bullion traders who have exchange memberships as market makers. Exchange-traded funds require a strong exchange platform as they are traded on the exchanges intra-day.
News Source – ECONOMIC TIMES.
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