Latest Indian Mutual Fund News | 18-Nov-2011
1.UTI Fixed Income Interval Fund Quarterly Interval Plan III announces dividend.
UTI Mutual Fund has announced 23 November 2011 as the record date for declaration of dividend under the dividend option of UTI Fixed Income Interval Fund Quarterly Interval Plan III (debt oriented interval scheme). The quantum of dividend will be 100% of distributable surplus as on the record date on the face value of RS 10 per unit.
News Source – NAV INDIA.
2.Single statement for all MF transactions.
There is good news for mutual fund investors. Now, one no more needs to put multiple requests to fund houses to obtain account statements. More than three years after the idea of a common statement for mutual fund investors having investments with different fund houses was conceived by the industry, the Association of Mutual Funds in India (Amfi), has finally implemented it, effective from October.
The industry has implemented issuance of Consolidated Accounts Statement (CAS) to its investors. So, do not be surprised if you get a single statement instead of many, containing all transactions during the month, irrespective of the fund houses you have done transactions with. In a statement issued on Thursday, Amfi said, "Commencing of the transactions from the month of October, 2011, CAS will be issued as a monthly statement to investors, if there are any transactions during the month."
News Source – BUSINESS STANDARD.
3.Assets with mutual funds grow 8.3%.
The mutual fund industry saw its asset base grow by 8.3 per cent in October, led by inflows from the corporate sector. At the end of October 2011, the industry's total assets under management stood at Rs 6.95 lakh crore against Rs. 6.41 lakh crore at the end of September. The start of every quarter sees inflows into the industry as money that moves out as advance tax payments finds its way back into the system. Liquid/money market funds get a bulk of this investment. The total AUM under liquid/money market funds increased from Rs 1.28 lakh crore to Rs 1.62 lakh crore in October, an increase of 26.46 per cent.
News Source – BUSINESS LINE.
4.Real gold buying falls, paper gold investment soars.
This is an unsual – but wholly understandable, and, perhaps, better – trend. Sales of real gold have plunged 26% in the quarter ended September while paper gold – sold under exchange traded funds or ETFs – has nearly tripled. Sample this: In the quarter, gold jewellery sales were down to 125.3 tonnes from 168.4 tonne in the same period last year.
Coins and bars fared badly, too. On the other hand, gold ETFs bought by investors doubled to 30 tonne against 15 tonnes. Experts said that's a good thing because ETFs are cheaper and safer – there is no storage cost and the metal is securely kept with the custodians of fund houses. "One should put money in gold ETF as it's an effective portfolio diversifier. In today's uncertain markets, gold acts as a shield," said Chirag Mehta, fund manager- commodities at Quantum Mutual Fund.
News Source – DNA INDIA.
5.Franklin Templeton Fixed Tenure Fund-Series XII-Plans A and B announces dividend.
Franklin Templeton Mutual Fund has announced 25 November 2011 as the record date for declaration of dividend under Franklin Templeton Fixed Tenure Fund-Series XII-Plans A and B. The quantum of dividend on the face value of Rs. 10 per unit will be:
Franklin Templeton Fixed Tenure Fund-Series XII-Plans A: Individuals & HUF: Rs. 0.308 per unit. Others: Rs. 0.264 per unit
Franklin Templeton Fixed Tenure Fund-Series XII-Plans B: Individuals & HUF: Rs. 0.264 per unit. Others: Rs. 0.226 per unit
6.Firms join great Indian gold rush.
The age-old obsession the common Indian folk has for the yellow metal Rs is well documented, but even the country's companies seem to be going for gold – literally. While holding data of physical gold by corporate investors is not in public domain, they clearly hold a lion's share of paper gold traded on the exchanges. According to the latest figures provided by Association of Mutual Funds in India (Amfi), at Rs 4,176 crore, companies account for a little over half of total assets under management in gold exchange traded funds (ETFs). This is nearly three times their gold ETF holding in March.
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