Latest Indian Mutual Fund News | 02-Dec-2011
1.BSE, Morningstar launch website for mutual funds.
BSE Ltd (formerly Bombay Stock Exchange Ltd) in collaboration with Morningstar India, today launched a website to empower investors with relevant information and tools on evaluating mutual fund investment opportunities. BSE has tied up with Morningstar, a leading independent investment research company with presence in 26 countries across the globe. Morningstar provides data on approximately over 330,000 investment offerings worldwide including stocks, mutual funds, etc along with real-time global market data on more than 5 million equities, indexes, futures, options, commodities, precious metals, foreign exchange and treasury markets.
Aditya Agarwal, MD of Morningstar India, said "The website would provide rich content to the users and would make available our proprietary data points, including our style box, star ratings and analyst ratings." The URL of the website is http://bseindia.morningstar.in
News Source – MONEY LIFE.
2.Funds mull FMP to pocket double indexation tax benefit.
As the current fiscal comes to an end, many fund houses are launching one year plus fixed maturity plans (FMP). Recently, Taurus Mutual Fund, Deutsche Asset Management and Religare Mutual Fund launched FMPs to target investors, lured by higher interest rate regime in the economy and advantages of pocketing double indexation tax benefits. "Every year, during this time of year, number of one year plus FMPs hit the market, as it covers two financial years" Waqar Naqvi, CEO of Taurus Mutual Fund says. "If investors invest in these FMPs, they virtually pay zero tax due to double indexation tax benefits."
News Source – FINANCIAL EXPRESS.
3.Deutsche MF Announces Change in Minimum Investment Amount of Cash Opportunities Fund – Institutional Plan.
Deutsche Mutual Fund has decided to change the minimum investment amount of DWS Cash Opportunities Fund – Institutional Plan, with effect from 1 December 2011. Accordingly, the minimum investment amount is Rs. 5 crore per application and in multiples of Rs. 1 thereafter. Earlier, the minimum investment amount was Rs. 1 crore per application and in multiples of Rs. 1
News Source – INDIA INFOLINE.
NEW FUND LAUNCH
4.Daiwa MF Launches 90 Days Fixed Maturity Plan.
Daiwa Mutual Fund has launched a new fund named as Daiwa Fixed Maturity Plan – Series I – Plan A, a close ended income scheme with the duration of 90 days from the date of allotment of units. The New Fund Offer (NFO) price for the plan is Rs 10 per unit. The new issue will be open for subscription from 2 December 2011 and closes on 7 December 2011.
News Source – NAV INDIA.
5.Reliance Mutual Fund announces dividend under two schemes.
Reliance Mutual Fund has announced 7 December 2011 as the record date for declaration of dividend under two schemes. The quantum of dividend on the face value of Rs 10 per unit will be:
Reliance Interval Fund-Quarterly Interval Fund Series III-Retail Plan-Dividend option: Rs 0.2041 per unit. The scheme recorded NAV of Rs 10.2166 per unit as on 30 November 2011. Reliance Interval Fund-Quarterly Interval Fund Series III-Institutional Plan-Dividend option: Rs 0.2088 per unit. The scheme recorded NAV of Rs 10.2214 per unit as on 30 November 2011.
Reliance Fixed Horizon Fund-XVI-Series 5-Dividend payout option: Entire distributable surplus available in the scheme as on the record date. The scheme recorded NAV of Rs 10.4812 per unit as on 30 November 2011.
6.UTI Fixed Income Interval Fund Half Yearly Interval Plan II announces dividend.
UTI Mutual Fund has announced 7 December 2011 as the record date for declaration of dividend under the dividend option UTI Fixed Income Interval Fund Half Yearly Interval Plan II (debt oriented interval scheme). The quantum of dividend will be 100% of distributable surplus as on the record date on the face value of Rs. 10 per unit. The scheme recorded NAV of Rs. 10.1661 per unit retail option and Rs. 10.1697 per unit under institutional option.
NEW FUND LAUNCH
7.DSP BlackRock Mutual Fund launches DSP Blackrock FMP – Series 22 – 3M.
DSP BlackRock Mutual Fund launched a new close-ended income scheme called "DSP Blackrock FMP-Series 22 3M". The New Fund Offer (NFO) price for the scheme is Rs 10 per unit and NFO opens on December 1, 2011 for subscription and will close on December 7.
News Source – MONEY REDIFF.
8.Tata Fixed Maturity Plan Series 37 Scheme E (95 Days) Floats On.
Tata Mutual Fund has launched a new fund named as Tata Fixed Maturity Plan Series 37 Scheme E, a close-ended debt scheme with the duration of 95 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will be open for subscription from 2 December 2011 and closes on 7 December 2011.
News Source – INDIA INFOLINE.
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