1.Assets with portfolio managers on the rise.
Data released by SEBI regarding assets managed by portfolio managers have taken managers themselves by surprise. Not only do the figures reveal an increase in the number of clients under the advisory portfolio but they have also indicated an increase in the number of clients under the discretionary portfolio. "There may have been an increase in the number of people opting for the advisory portfolio but the increase in the number of discretionary clients is surprising," said a portfolio manager.
News Source – BUSINESS LINE.
2.Withdraw money from mutual funds at will.
Need urgent cash or want to make that impulsive purchase? Use your 'debit' card, the one linked to your mutual fund investments. Reliance Mutual Fund is offering investors an 'Any Time Money Card', that works like a debit card (allowing withdrawals at ATMs or point-of-sale transactions) and uses the schemes (debt and equity) one has invested in as the account. Company officials note that liquid funds give better returns than other instruments like bank savings account. "However, customers tend to stick to their bank accounts as they are comparatively illiquid," points out one of them. "The new card is aimed at doing away with this limitation."
News Source – BUSINESS STANDARD.
3.Thanks to SIP, funds' equity asset base swells Rs 5,200 cr.
Equity schemes have seen net inflows of nearly Rs 5,200 crore this calendar year, when the benchmark stock indices declined by around 21 per cent. According to data on the SEBI Web site, these schemes saw a net outflow of Rs 27,830 crore last calendar year when the equity markets gained 17.25 per cent.
News Source – BUSINESS LINE.
4.UTI MF's investor accounts rise to 1 crore.
UTI Mutual Fund said its investor accounts increased by one lakh to 1 crore as of September-end, with increasing interest in SIPs. The accounts have risen from 99.71 lakh in September 30, 2010 to 1 crore in September 30, 2011, UTI MF Group President and Chief Marketing Officer Jaideep Bhattacharya said. He said investors are now preferring to invest in equity through systematic investment plans (SIPs). Besides, rising interest rates are making debt schemes attractive. "The inflows into MFs will increase in the next 3-4 months, as we target more retail customers," he said.
News Source – FINANCIAL EXPRESS.
NEW FUND OFFER
5.Union KBC MF files offer document for Union KBC Small and Mid Cap Fund.
Union KBC Mutual Fund has filed offer document with SEBI to launch Union KBC Small and Mid Cap Fund, an open-ended equity scheme. The New Fund Offer price is Rs 10 per unit. The investment objective of the scheme is to achieve long term capital appreciation by investing in a portfolio consisting of equity and equity related securities, predominantly of small and midsized companies.
News Source – LIVE MINT.
6.Deutsche Mutual Fund revises exit load structure for its two schemes.
Deutsche Mutual Fund has announced to revise exit load structure under DWS Cash Opportunities Fund and DWS Premier Bond Fund. Accordingly, the revised structure of an exit load of 0.50% will be charged if units are redeemed or switched out for less than 45 Days from the date of allotment under DWS Cash Opportunities Fund. Furthermore, for DWS Premier Bond Fund, the revised structure of an exit load of 1% will be charged if units are redeemed or switched out less than 3 months from the date of allotment. The revised exit load structure will be effective from 1st December 2011.
News Source – MUTUAL FUND INDIA.
NEW FUND LAUNCH
7.Reliance MF Floats Reliance Fixed Horizon Fund – XXI – Series 16.
Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXI – Series 16, a close ended income scheme with the duration of 368 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 1 December and will close on 7 December 2011.
News Source – NAV INDIA.
8.Reliance MF Floats Reliance Fixed Horizon Fund – XXI – Series 29.
Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXI – Series 29, a close ended income scheme with the duration of 3 years from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs. 10 per unit. The new issue will be open for subscription from 1 December and will close on 12 December 2011.
News Source – INDIA INFOLINE.