Latest Indian Mutual Fund News | 24-Nov-2011


1.Escorts Mutual Fund declares dividend under its three schemes.

Escorts Mutual Fund has announced dividend under its three schemes. The record date for dividend distribution is 30th November 2011. Under Escorts Income Plan the quantum of dividend for distribution is Rs 0.07 per unit. While under Escorts Short Term Debt Fund and Escorts Income Bond the quantum of dividend for distribution is Rs 0.10 per unit for both.



2.Foreign portfolio investment norms likely to be discussed.

The capital markets regulator is considering liberalising the norms for foreign portfolio investment. The proposal being considered by the Securities and Exchange Board of India (Sebi) is to allow direct entry of qualified institutional investors (QIIs) in the market and allow non-resident Indian investors to invest directly in the secondary market as QIIs.

Sebi's board is meeting tomorrow and these issues are likely to come up. The timing is also conducive for liberalising foreign investment norms, as the Indian currency has been depreciating sharply. The other issues that can come up include making the primary (public issue) market more efficient. Tomorrow's meeting will be just the third after U K Sinha took over as chairman of Sebi in February. The earlier meeting was on July 28, when a number of important decisions were taken, including a new takeover code, harmonisation of KYC (know-your-customer) norms and a review of policies on mutual funds. His first board meeting, in March, was short and no major decisions were taken.


3.About 75% of equity funds beat benchmarks.

Despite equity markets remaining volatile for the year till date, over 75% of the equity schemes have managed to outperform their respective benchmark indices by huge margins. According to data provided by Value Research, out of over 340 equity schemes in the country, around 246 schemes managed to outperform the benchmark indices. 

Interestingly, many mid and smallcap equity funds have managed to give better return then large-cap and thematic schemes. Some of the mid-small cap fund like Magnum Emerging Business, Mirae Emerging Bluechip, HDFC Mid-cap opportunities, Reliance Small Cap and DSP BlackRock Micro Cap have given negative returns in the range of 5-15% till year to date. During the same period their benchmark indices have fallen by about 25-35% while largecap index Sensex was down by 22%.



4.Axis Capital Protection Oriented Fund – Series 2 Floats On.

Axis Mutual Fund has launched a new fund named as Axis Capital Protection Oriented Fund – Series 2, a 3 year close ended capital protection oriented fund. The New Fund Offer price is Rs 10 per unit. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit. The new issue which is open for subscription from 23 November will close on 07 December 2011.

News Source – NAV INDIA.


LIC Nomura Mutual Fund launched LIC Nomura MF Fixed Maturity Plan Series 47, a close ended income scheme. The new issue is open for subscription from 24th November and closes on 29th November 2011.

News Source – AMFI INDIA.

Latest Indian Mutual Fund News | 24-Nov-2011
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