Latest Indian Mutual Fund News | 28-Nov-2011
1.UTI MF declares dividend under FIIF Annual Interval Plan IV.
UTI Mutual Fund has announced dividend under dividend option of UTI Fixed Income Interval Fund (FIIF) Annual Interval Plan IV (debt oriented interval scheme) on the face value of Rs 10 per unit. The quantum of dividend will be 100% of distributable surplus as on the record date. The record date for the dividend payout has been fixed as December 1, 2011.
News Source – LIVE MINT.
2.Canara Robeco Short Term Fund announces change in exit load.
Canara Robeco Mutual Fund has announced change in exit load of Canara Robeco Short Term Fund with effect from 28 November 2011. Accordingly the revised exit load will be: 0.50% if redeemed/switched out within six months from the date of allotment. The exit load will be nil if redeemed/switched out after six months from the date of allotment.
News Source – NAV INDIA.
3.No external audit for fund distributors, independent agents, says SEBI.
Market regulator Sebi has shot down a suggestion by asset management companies to appoint an external agency to audit distributors and independent financial advisors (IFAs). Distributors are unhappy with this decision as they will have to show their books and operational blueprints to every fund house, whose products they sell.
Sebi, in its August 22 circular, had asked fund houses to conduct a due diligence process on 500-odd top distributors and independent financial advisors (IFAs) across the country. Fund houses, through their industry body AMFI, had requested Sebi to allow them to appoint an external consultant to conduct the audit on their behalf due to protests from distributors. Also, fund houses found the process cumbersome.
News Source – ECONOMIC TIMES.https://www.investmentkit.com/articles/2011/11/latest-indian-mutual-fund-news-28-nov-2011/https://www.investmentkit.com/articles/wp-content/uploads/2011/09/news.jpeghttps://www.investmentkit.com/articles/wp-content/uploads/2011/09/news.jpegMutual Fundsadvice from experts,allotment,amfi,asset management companies,blueprints,dividend option,dividend payout,due diligence process,economic times,external audit,external consultant,face value,fixed income,independent agents,independent financial advisors,indian mutual fund,Interval,market regulator,mutual fund news,news source,UTIDIVIDEND1.UTI MF declares dividend under FIIF Annual Interval Plan IV.UTI Mutual Fund has announced dividend under dividend option of UTI Fixed Income Interval Fund (FIIF) Annual Interval Plan IV (debt oriented interval scheme) on the face value of Rs 10 per unit. The quantum of dividend will be 100%...Admingkd[email protected]AdministratorInvestmentKit Articles
Subscribe Updates, Its FREE!