DIVIDEND

1.ICICI Prudential Fixed Maturity Plan Series 48 – 3 Year Plan B announces dividend.

ICICI Prudential Mutual Fund has announced 11 December 2011 as the record date for declaration of dividend under the retail dividend option of ICICI Prudential Fixed Maturity Plan Series 48 – 3 Year Plan B. The recommended rate of dividend (Re. per unit) on the face value of Rs. 10 per unit will be entire distributable surplus as on record date.

News Source – INDIA INFOLINE.

 

GENERAL

2.Savvy investors flock to STPs for higher returns.

Systematic transfer plans or STPs – an investment route that allows mutual fund investors to shift a fixed sum from one scheme to another at regular intervals – are gaining popularity among affluent investors. With heightened uncertainty over the stock market's prospects and debt schemes churning healthy returns, these investors are increasingly opting for STP to ensure they do not miss out on higher debt returns, while waiting for opportunities in equities.

News Source – ECONOMIC TIMES.

 

3.FinMin, SEBI discuss direct entry of QFIs into stock market.

As part of efforts to encourage foreign investments, Finance Ministry officials held discussions with representatives of SEBI on the issue of allowing Qualified Foreign Investors (QFIs) to directly buy stocks on the capital market. The decision, sources said, would help in attracting equity capital from abroad and also project India as a global investment destination. 

A QFI is an individual, group or association resident in a foreign country which complies with the Financial Action Task Force (FATF) standards. The government, in August, had permitted QFIs to invest up to $ 13 billion in equity and debt schemes of mutual funds in the infrastructure sector. QFIs were allowed to invest through two routes — either holding mutual fund units in a demat account through SEBI-registered depository participants or by holding MF units via unit confirmation receipts.

News Source – ECONOMIC TIMES.

 

4.Union KBC Fixed Maturity Plan-92 Days-Series 2 extents NFO closing date.

Union KBC Mutual Fund has declares the extension of NFO closing date of Union KBC Fixed Maturity Plan-92 Days-Series 2, a close ended income scheme. The NFO closing date has been extended from December 7, 2011 to December 19, 2011. The investment objective of the scheme is to seek to generate income/capital appreciation by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.

News Source – LIVE MINT.

 

NEW FUND OFFER



5.Indiabulls Tax Saver Fund files offer document with Sebi.

Indiabulls Mutual Fund has filed offer document with Sebi to launch Indiabulls Tax Saver Fund, an open-ended equity linked savings scheme (subject to lock in period of 3 years from the date of allotment). The New Fund Offer price is Rs 10 per unit. Investment objective: The primary investment objective of the Scheme is to generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities.

News Source – NAV INDIA.

 

6.Religare Fixed Maturity Plan – Series XII – Plan A to F files offer document with Sebi.

Religare Mutual Fund has filed offer document with Sebi to launch Religare Fixed Maturity Plan – Series XII – Plan A to F, a close ended debt scheme. The New Fund Offer price is Rs. 10 per unit. Investment objective: To generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.

News Source – INDIA INFOLINE.

 

7.LIC Nomura MF Midcap Fund files offer document with Sebi.

LIC Nomura Mutual Fund has filed offer document with Sebi to launch LIC Nomura MF Midcap Fund, an open ended equity fund. The New Fund Offer price is Rs. 10 per unit. Investment objective: To provide long term capital growth by investing mainly in equity and equity related instruments of mid cap companies (Companies whose market capitalization lies within the highest and lowest market cap of the BSE Mid cap Index constituents) with relatively high risk/high return profile in general.

News Source – INDIA INFOLINE.

 

GENERAL

8.Reliance MF announces change in minimum application amount in Regular Savings Fund.

Reliance Mutual Fund has decided to change the minimum application amount in Reliance Regular Savings Fund – Debt Option – Institutional Plan with effect from December 7, 2011. Consequently, the revised minimum application amount is Rs 3 crore per option and in multiples of Rs 1 thereafter. Earlier the minimum application amount was Rs 25 lakh per option and in multiples of Rs 1 thereafter.

News Source – LIVE MINT.

 

NEW FUND LAUNCH

9.Tata Fixed Maturity Plan Series 37 Scheme F (369 Days) Floats On.

Tata Mutual Fund has launched a new fund named as Tata Fixed Maturity Plan Series 37 Scheme F, a close-ended debt scheme with the duration of 369 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 7 December 2011 and closes on 13 December 2011.

News Source – NAV INDIA.

Latest Indian Mutual Fund News | 07-Dec-2011
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