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1.Canara Robeco Multicap files offer document with Sebi.

Canara Robeco Mutual Fund has filed offer document with Sebi to launch Canara Robeco Multicap, an open ended equity scheme. The New Fund Offer price is Rs 10 per unit. Investment objective: To generate income/ capital appreciation by investing in equities and equity related instruments of companies spanning the entire market capitalization spectrum. 



News Source – NAV INDIA.

DIVIDEND

2.Reliance Fixed Horizon Fund – XX- Series 2 announces dividend.

Reliance Mutual Fund has announced 13 December 2011 as the record date for declaration of dividend under the dividend payout option of Reliance Fixed Horizon Fund – XX- Series 2 (close ended income scheme). The quantum of dividend will be entire distributable surplus available in the scheme as on the record date on the face value of Rs. 10 per unit. The scheme recorded NAV of Rs. 10.4243 per unit as on 5 December 2011. 

News Source – INDIA INFOLINE.

 

GENERAL

3.Sebi may relax norms for mutual funds advertisements.

The Securities and Exchange Board of India (Sebi) is planning to relax advertisement norms for mutual funds. The securities market regulator may allow mutual funds to use more space in advertisements to promote their products by reducing the disclaimer size. 

The mutual fund industry has been crying hoarse that the current advertisement code is very stringent and leaves little room to make a marketing pitch to investors. "There are a lot of statutory requirements because of which fund houses are not able to communicate effectively," said a person familiar with the development.

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News Source – ECONOMIC TIMES.

 

 

4.Investments depend on liquidity needs and interest rate outlook.

With debt being the flavour of the season, this week has seen launch of two debt mutual fund schemes. Birla Sun Life Mutual Fund is offering a short-term fixed maturity plan (FMP), while L&T Mutual Fund has launched a short-term debt fund. L&T's short-term debt fund is a three-year fund, benchmarked against Crisil's short-term bond fund index. Birla's fixed term plan, Series DV, is a close-ended income scheme, for a duration of 546 days or a year and a half.

News Source – BUSINESS STANDARD.

 

5.Open-ended mutual funds as collateral to help boost bets in market.

The National Stock Exchange's (NSE) decision to allow brokers to keep open-ended mutual funds as collateral will widen the scope for investors and traders to boost bets in the stock market. The step is a relief for many of them, who have been squeezed by tighter margin norms by brokers to minimise risks in a market plagued with uncertainty. 

"It is more to do with flexibility in keeping margins… Apart from cash and bank guarantees, brokers will now be able to use mutual fund units as collateral," said D Kannan, managing director of Kotak Securities. "If mutual fund units are performing well, brokers can use funds in place of bank deposits to satisfy margin requirements," Kannan

said.

News Source – ECONOMIC TIMES.

 

6.Axis Fixed Term Plan-Series 17 extends NFO closing date.

Axis Mutual Fund has extended the NFO closing date for Axis Fixed Term Plan-Series 17 (12 months) has been changed from 8 December 2011 to 22 December 2011. Axis Fixed Term Plan-Series 17 (12 months) is a close ended debt scheme. The plan(s) of the scheme will endeavor to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the respective plan(s). 

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News Source – INDIA INFOLINE.

 

GENERAL

7.CRISIL reaffirms ratings on 11 capital protection oriented funds.

* Birla Sun Life Capital Protection Oriented Fund (5 years plan), Birla Sun Life Capital Protection Oriented Fund – Series 1, Birla Sun Life Capital Protection Oriented Fund – Series 9*

* BNP Paribas Capital Protection Oriented Fund – Series I*, BNP Paribas Capital Protection Oriented Fund – Series II*, BNP Paribas Capital Protection Oriented Fund – Series III*

* IDFC Capital Protection Oriented Fund – Series I, IDFC Capital Protection Oriented Fund – Series II, IDFC Capital Protection Oriented Fund – Series III

* SBI Capital Protection Oriented Fund – Series I (5 years plan) 

* UTI Capital Protection Oriented Fund – Series I (5 years plan) 

* Not yet launched

CRISIL has reaffirmed its rating on the above-mentioned capital-protection-oriented funds at 'CRISIL AAA (SO)'. Instruments with this rating are considered to have the 'highest' degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk. The rating is not a comment on the funds' net asset values in relation to their face values at any time before redemption.

News Source – CRISIL

 

NEW FUND LAUNCH

8.ICICI Pru MF launches Multiple Yield Fund – Series 2 – Plan D.

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Multiple Yield Fund – Series 2 – Plan D, a close ended income fund. The NFO opens for subscription on December 8, 2011 and will close on December 15, 2011. 

News Source – LIVE MINT.

Latest Indian Mutual Fund News | 09-Dec-2011
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