Latest Indian Mutual Fund News | 15-Dec-2011


1.IDBI Mutual Fund files offer document to launch "IDBI Fixed Maturity Plan – Series II (Plan F to J)".

IDBI Mutual Fund launched a new closed ended income scheme called "IDBI Fixed Maturity Plan – Series II (Plan F to J)". The New Fund Offer (NFO) price for the schemes is Rs 10 per unit. According to the offer document filed with SEBI, the entry load is nil and exit load is not applicable under the scheme. The minimum application amount is Rs 5,000 and in multiples of Re. 1 thereafter.

News Source – MONEY REDIFF.




2.UTI MF Announces Dividend for Fixed Income Interval Fund.

UTI Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of UTI Fixed Income Interval Fund Series – Monthly Interval Plan I (debt oriented interval scheme). The record date for dividend has been fixed as 20 December 2011. The quantum of dividend will be 100% of distributable surplus as on the record date.

News Source – NAV INDIA.




3.Mutual Funds on buying spree in BEML.

Mutual funds had mere 9.0% stake in BEML as of December 2010. But since then, they have been consistently increasing their stake to 9.5% in March 2011, 9.7% in June 2011, which leaped to 12.2% by September 2011. BEML has disclosed its share holding pattern as of 2nd December 2011, which evidence that the Mutual funds have stepped up their exposure to BEML further, and their stake as on this date is now 13.37%. The company has indicated that this represents stake in the company by mutual funds and UTI.

Mutual Funds such as DSP BlackRock, Reliance, SBI, Sundaram, Tata and UTI have been consistently holding BEML as part of their portfolio for the selected period from March 2009 to September 2011. Reliance Mutual Fund, which is one of the largest fund house in the country, had upped it holding to BEML in September 2011 by over 15 lakh shares, when compared with its holding in June 2011. On the flipside, SBI Mutual Funds had reduced its exposure to BEML by selling 1.64 lakh shares (by 45%) in September 2011, when compared with the data available in June 2011. UTI Mutual Fund had trimmed their exposure by selling 44146 shares (by 6%), while Sundaram Mutual Fund had marginally reduced its exposure by selling 60 shares in September 2011, when compared with June 2011.




4.Now investors can buy funds via SMS in IDFC's Money Manager Fund.

You used your cell phones to text your friends, family, colleagues, browse internet, and click pictures. Now investors can buy a mutual fund by just sending an SMS. In what can be called as a trend setter for the mutual fund industry, IDFC Mutual Fund has allowed investors to invest up to Rs. 99, 99,999 as well as redeem mutual funds in its IDFC Money Manager Fund (Treasury Plan). It plans to extend the same facility to other funds as well in the days to come. The investor doesn't need to sign a cheque every time he wishes to invest. Just one SMS can help him buy funds on the same day's NAV, thanks to the electronic time stamping mechanism.

News Source – CAFE MUTUAL.

Latest Indian Mutual Fund News | 15-Dec-2011
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