Latest Indian Mutual Fund News | 29-Nov-2011
NEW FUND OFFER
1.IIFL MF files offer document with SEBI to launch IIFL Liquid Fund.
IIFL Mutual Fund files offer document with SEBI to launch IIFL Liquid Fund, an open end liquid scheme. The New Fund Offer price is Rs 1,000 per unit. The investment objective of the scheme is to provide a high level of liquidity with reasonable returns commensurate with low risk through a portfolio of money market and debt securities with residual maturity of up to 91 days. However, there can be no assurance that the investment objective of the scheme will be achieved.
News Source – LIVE MINT.
2.SBI Tax Advantage Fund – Series II files offer document with Sebi.
SBI Mutual Fund has filed offer document with Sebi to launch SBI Tax Advantage Fund – Series II, a 10 year close ended Equity Linked Savings Scheme. The New Fund Offer price is Rs 10 per unit. The investment objective of the scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies across large, mid and small market capitalization, along with income tax benefit.
News Source – NAV INDIA.
3.Fidelity Mutual Fund declares dividend for its two schemes.
Fidelity Mutual Fund has declared dividend for its two schemes namely, Fidelity Equity Fund and Fidelity Tax Advantage Fund, on the face value of Rs.10 per unit. The quantum of dividend distribution will be Re.1 per unit under each scheme. The record date for dividend distribution has been fixed as 1st December 2011.
News Source – MUTUAL FUND INDIA.
NEW FUND OFFER
4.Birla Sun Life MF files offer document with SEBI to launch Fixed Term Plan-EN to EW.
Birla Sun Life Mutual Fund files offer document with SEBI to launch Birla Sun Life Fixed Term Plan-Series EN to Series EW, a closed end income fund. The New Fund Offer price is Rs 10 per unit. The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
5.UTI Mutual Fund launches its new Website with a host of new features.
UTI Mutual Fund (UTI MF) has launched its new website with a host of new features, tools and functionalities. The new website has been designed to demystify and simplify Mutual Fund Investments for its website users.
Mr Jaideep Bhattacharya, Group President and Chief Marketing Officer, UTI AMC said, "In the last one year the number of investor accounts of UTI MF has increased from 99.71 lakhs in 30 September 2010 to 100.64 lakhs in 30 September 2011. UTI MF is committed to empower investors with financial knowledge and help make investment decisions easier and hassle free. As a company that's always evolving, it only seemed fit that our website reflected just that. The new website will provide a user friendly interface allowing investors easy access to information."
News Source – INDIA INFOLINE.
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