GENERAL

1.Debt fund investors score big as long-term gilts & bonds see sharp rally.

Equity investors may be having a nightmarish time but investors in debt funds have something to smile about. Long-term gilt and bond funds have rallied sharply in the past month, with many of them delivering returns of above 4%. The consistent drop in the 10-year bond yield in the past four weeks has pushed up NAVs of these funds. The benchmark yield has dropped from a high of 8.97% on November 14, to 8.46% on December 12 following signs of easing inflation and hopes of a CRR cut by the RBI.

News Source – ECONOMIC TIMES.

 

2.Regulations for financial advisors soon: SEBI member.

The Securities and Exchange Board of India plans to soon come out with specific regulations for financial advisors, a top official has said. "We have received detailed responses from various stakeholders. It is difficult to give exact timeline when the regulations will be issued. It will come out shortly… we have to build consensus," Mr Prashant Saran, Whole-Time Member, SEBI, told reporters on the sidelines of Assocham's mutual fund summit here on Tuesday.

News Source – BUSINESS LINE.

 

3.AMCs seek clarity from SEBI for participating in repos of corporate debt securities.

Mutual fund houses have sought clarity from SEBI regarding mark to market (MTM) norms and accounting procedure to be followed for participating in repos of corporate debt securities. SEBI recently allowed fund houses to participate in 'AAA' rated corporate debt securities with a 10% cap on exposure of the net assets of the scheme. However, fund managers have not been able to take opportunity of the new facility due to lack of clarity regarding operational issues. The November 11 circular stated that the cumulative gross exposure through repo transactions in corporate debt securities along with equity, debt and derivatives shall not exceed 100% of the net assets of the concerned scheme.

News Source – CAFE MUTUAL

 

NEW FUND LAUNCH

 

4.Reliance MF Floats Reliance Fixed Horizon Fund – XXI – Series 20.

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXI – Series 20, a close ended income scheme with the duration of 564 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 which is open for subscription from 12 December will close on 19 December 2011.

News Source – NAV INDIA.

 

DIVIDEND

5.Canara Robeco Interval Scheme-Series 2-Quarterly Plan 2 announces dividend.

Canara Robeco Mutual Fund has announced 19 December 2011 as the record date for declaration of dividend under Canara Robeco Interval Scheme-Series 2-Quarterly Plan 2. The quantum of dividend will be 100% distributable surplus as on the record date. The scheme recorded NAV of Rs 10.2226 per unit under retail plan-dividend option and Rs 10.2225 per unit under institutional plan-dividend option as on 12 December 2011. 

News Source – NAV INDIA.

 



6.Reliance MF Declares Dividend in 7 Debt Schemes.

Reliance Mutual Fund has announced dividend under the quarterly dividend option of the following schemes:


* Reliance FHF XVI Series 6 
* Reliance Short-term 
* Reliance Money Manager Retail 
* Reliance Income 
* Reliance Floating Rate Short-term 
* Reliance Liquid Treasury Retail Plan 
* Reliance Liquid Cash Plan 

The record date has been fixed as December 19, 2011.

News Source – VALUE RESEARCH.

 

GENERAL

7.SEBI to simplify KYC process for easy investing.

SEBI in its recent circular announced to simplify the Know Your Client (KYC) process to make investing a friendly affair among investors. It has issued guidelines for uniform KYC process for the investors who intend to open accounts with different intermediaries in the securities market. The new KYC procedure will do away with the duplication of KYC registering in case with different intermediaries. As of now, if an investor intends to open accounts with different intermediaries for the purpose of trading / investment in the securities market, he has to undergo the process of Know Your Client (KYC) again and again. Therefore, to avoid duplication of KYC process with every intermediary, a mechanism for centralization of the KYC records in the securities market has been developed by SEBI.

News Source – MONEY CONTROL.

 

8.Franklin Templeton Capital Safety Fund – 5 Years Plan: Maturity of the Scheme.

Franklin Templeton Mutual Fund has announced the maturity date of Franklin Templeton Capital Safety Fund – 5 Years Plan. The scheme will mature on December 29, 2011. The record date will be December 21, 2011. The trading on NSE will be suspended from December 20, 2011.

News Source – VALUE RESEARCH.

 

9.Templeton India Corporate Bond Opportunities Fund: Introduction of trading on NSE & BSE.

Franklin Templeton Mutual Fund has introduced the buying and selling of units of Templeton India Corporate Bond Opportunities Fund on NSE and BSE, effective December 15, 2011. However, the investment amount cannot be more than Rs. 1 crore.

News Source – VALUE RESEARCH.

 

NEW FUND LAUNCH

10.Religare MF introduces Religare Fixed Maturity Plan – Series XI – Plan B.

Religare Mutual Fund has launched the New Fund Offer (NFO) Religare Fixed Maturity Plan – Series XI – Plan B (369 Days), close ended debt scheme. The NFO opens for subscription on December 13, 2011 and closes on December 14, 2011. No entry and exit load charges is applicable for the scheme. The duration of the scheme will be 369 days from the date of allotment of units. The scheme offers dividend payout and growth option. 

News Source – LIVE MINT.

Latest Indian Mutual Fund News | 14-Dec-2011
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