1.Declaration of dividend under Reliance Fixed Horizon Fund-XVIII-Series 12.
Reliance Mutual Fund has declared dividend under the dividend payout option of Reliance Fixed Horizon Fund-XVIII-Series 12, a close ended income scheme. The record date for dividend is November 24, 2011. The quantum of dividend will be entire distributable surplus available in the scheme as on the record date.
News Source – LIVE MINT.
2.Bank of India likely to re-launch mutual fund biz by December.
State-run lender Bank of India (BoI) has decided to advance its proposed re-entry into the mutual fund (MF) business by a few months to December, reports PTI. "We are working on it (MF business), by December, I suppose we should have something in place," Bank of India chairman and managing director Alok Misra told PTI.
Currently, there are eight MFs either fully or partly-owned by banks along with overseas partners. These include Baroda Pioneer Mutual Fund, Canara Robeco Mutual Fund, ICICI Prudential MF, Principal MF of PNB and SBI Mutual Fund, Axis MF, IDBI Mutual Fund and Union KBC MF of Union Bank.
News Source – BUSINESS LINE.
3.Morgan Stanley remains upbeat about growth.
The ETF market now accounts for 5.5% of global mutual fund assets, up from 2.4% in 2005. Given a 20% compound annual growth rate, the industry should reach $3.31 trillion in 2015, up from $1.6 trillion as of September 30 this year, according to Morgan Stanley. After a nervy summer, BlackRock said October saw worldwide inflows of $26.5bn, of which equity ETFs garnered $21.3bn. US equity ETFs attracted $15.3bn of new money compared with $1.9bn flowing into European equity. Morgan Stanley sees the outflows as a blip rather than a trend, but warned of "growing risks that innovation in the ETF space will be stifled by increased scrutiny and investor and adviser uncertainty".
News Source – FINANCIAL NEWS.
4.What mutual fund industry can offer in coming months.
The Indian mutual fund industry has grown at a breathtaking pace in the last five years. Not only have its assets under management (AUM) grown from Rs 3 lakh crore in September 2006 to Rs 7 lakh crore in September 2011, more than 1,150 schemes are on offer today compared to 600 in 2006. Further, investors have got access to new products such as exchange-traded funds (ETFs), fund of funds and international funds.
To protect investors and promote growth, the Securities and Exchange Board of India (Sebi) has changed many regulations in the last few years. Take, for instance, the removal of the provision of charging the initial issue expense from investors and its amortization, and the ban on entry load. Sebi also rationalized the fee for filing offer documents. It standardized AUM reporting, made rules for classifying and valuing debt funds, and issued strict norms for distributors. It also allowed holding of mutual fund units in demat form.
Please follow the link for the detailed article.
News Source – BUSINESS TODAY.
5.UTI Half Yearly Interval Plan I: Dividend Declaration.
UTI Mutual Fund has announced dividend under the dividend option of UTI Half Yearly Interval Plan I. The quantum of dividend will be 100% of the distributable surplus as on the record date. The record date has been fixed as November 24, 2011. The Specified Transaction Period will be on November 24, 2011 and November 25, 2011.
News Source – VALUE RESEARCH.
6.UTI MF declares dividend under YFMP 10/10.
UTI Mutual Fund has declared dividend under retail and institution plan of UTI Fixed Maturity Plan-Yearly Series (YFMP 10/10) (close ended umbrella income scheme) on the face value of Rs 10 per unit. The quantum of dividend will be 100% distributable surplus as on the record date. The record date for the dividend payout has been fixed as November 25, 2011.
7.Tata Fixed Income Portfolio Fund – Scheme C3: Dividend Declaration.
Tata Mutual Fund has announced dividend under the half yearly dividend option of Tata Fixed Income Portfolio Fund – Scheme C3. The quantum of dividend will be the entire returns generated between May 24, 2011 to November 24, 2011. The record date has been fixed as November 24, 2011.
News Source – VALUE RESEARCH.
8.Changes in SBI Magnum TaxGain Schemes.
SBI Mutual fund has announced changes under Magnum TaxGain Scheme. Accordingly, the provision of compulsory re-investment of dividend amount of less than Rs 250 under a folio has been withdrawn with immediate effect. Henceforth, unitholders who have opted for payout of dividend under the said scheme shall be paid the dividend, irrespective of the amount. All other terms and conditions of the scheme remain unchanged.
News Source – MONEY CONTROL.
NEW FUND LAUNCH
9.Reliance Fixed Horizon Fund XXI – Series 19.
Reliance Mutual Fund launched Reliance Fixed Horizon Fund XXI – Series 19, a close ended income scheme. The new issue is open for subscription from 21st November and closes on 29th November 2011.
News Source – AMFI INDIA.