DIVIDEND

1.Daiwa MF declares dividend for Government Securities Fund.

Daiwa Mutual Fund has announced the declaration of dividend on the face value of Rs 1,000 per unit under dividend option of Daiwa Government Securities Fund – Short Term Plan, an open ended gilt scheme. The record date has been fixed as December 22, 2011. The quantum of dividend will be Rs 21.23 per unit as on the record date.

News Source – LIVE MINT.

 

GENERAL

2.Quantum Mutual Fund ties up with Yes Bank to expand reach.

Quantum Mutual Fund has tied up with Yes Bank to use its drop box facility across Mumbai in a bid to enhance investor convenience and ease of accessibility. Investors can now drop their subscription applications at any Yes Bank drop box having the Quantum Mutual Fund logo. These drop boxes are located at various locations across the city, including 37 locations at railway stations, 38 ATM sites and 5 airports. With 80 significant locations from Churchgate to Virar, Fort to Kalyan and all the way to Panvel, such drop boxes offered by Quantum, provide investors with an opportunity to drop off their applications on their way to the office or on their normal evening walk. Jimmy A Patel, Chief Executive Officer, Quantum Asset Management Company Pvt. Ltd said, "Yes Bank, as a bank, needs no introduction and we are pleased to have them as an encouraging associate in facilitating Quantum investors with their drop boxes."

News Source – CAFE MUTUAL.

 

3.Edelweiss Financial eyes global tie-up for MF business.

Edelweiss Financial Services, a leading financial services firm in India, is in talks with global investors to be a partner in their mutual funds arm Edelweiss Asset Management that manages assets worth about Rs 447 crore. 'We are being approached by 3-4 global investors for the assets management business. We may bring in a joint venture partner in the next six months,' said Rashesh Shah, chairman, Edelweiss Financial Services, which has a capital base of about Rs 75 crore.

News Source – ECONOMIC TIMES.

 

4.Principal Mutual Fund revises exit load structure under its scheme.

Principal Mutual Fund has announced to revise exit load structure under Principal Income Fund – Short Term. Accordingly, the revised structure of an exit load of 0.5% will be charged if units are redeemed on or before 6 months from the date of allotment. Principal Income Fund – Short Term is an open ended income fund with investment objective to generate regular return through investment in sovereign securities and thus provide capital gains and income distribution to its unitholders. The revised exit load structure will be effective from 19th December 2011.

News Source – MUTUAL FUND INDIA.

 

NEW FUND LAUNCH

 

5.Taurus MF Unveils 91 Days FMP.

Taurus Mutual Fund has launched a new fund named as Taurus Fixed Maturity Plan -Series K (91 Days), a close ended debt scheme with the duration of 91 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 19 December and close on 22 December 2011. 

News Source – NAV INDIA.

 

DIVIDEND

 

1.JM Financial Mutual Fund declares dividend under JM Arbitrage Advantage Fund.

JM Financial Mutual Fund has declared dividend under JM Arbitrage Advantage Fund, on the face value of Rs.10 per unit. The quantum of dividend for distribution will be Rs.0.16 per unit as on record date. JM Arbitrage Advantage Fund is an open-ended equity oriented interval fund with the primary investment objective to generate income through arbitrage opportunities emerging out of mis-pricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments. The record date for dividend distribution will be 21st December 2011.

News Source – MUTUAL FUND INDIA.



 

2.Principal MF Declares Dividend under Its Schemes.

Principal Mutual Fund has announced 23 December 2011 as the record date for the declaration of dividend on the face value of Rs 10 per unit under quarterly dividend options of following schemes: 


Principal Government Securities Fund: The quantum of dividend will be Rs 0.08 per unit. 
Principal Income Fund – Long Term Plan: The quantum of dividend will be Rs 0.15 per unit. 
Principal Debt Savings Fund – Retail Plan: The quantum of dividend will be Rs 0.24 per unit. 
Principal Monthly Income Plan: The quantum of dividend will be Rs 0.09 per unit. 

News Source – NAV INDIA.

 

GENERAL

 

3.Allowing MFs to manage pension funds will spur retail participation.

Having put in two decades in banking and financial services business, Ms Ashu Suyash, Country Head-India, Fidelity Worldwide Investment, strongly believes that the best way to increase retail participation in India is through mutual funds handling pension money. In a one-to-one interaction with Business Line she speaks on issues concerning the mutual fund industry, from distributor due diligence to investor awareness. 

News Source – BUSINESS LINE.

 

DIVIDEND

1.Tata Tax Saving Fund announces dividend.

Tata Mutual Fund has approved 23 December 2011 as the record date for declaration of dividend under the dividend option of Tata Tax Saving Fund (open ended equity linked tax saving scheme). The quantum of dividend per unit will be Rs 2 on the face value of Rs 10 per unit. The scheme recorded NAV of Rs 40.9268 per unit as on 16 December 2011.

News Source – NAV INDIA.

GENERAL

2.ICICI AMC asks distributors to get active.

ICICI Prudential Mutual Fund has asked some of its distributors across India to achieve a sales target by 31st December 2011, failing which they will stop paying trail commission to these distributors from January 01, 2012. The rationale behind ICICI's move is that is a costly affair to service distributors who have less AUM with them. The move has not gone well with a section of distributors who say that such a clause was not mentioned to them at the time of empanelment. "Generating business has become increasingly difficult in tier two and tier three cities. At least they should reduce the target," said a distributor who has received a letter from ICICI Prudential Mutual Fund.

News Source – CAFE MUTUAL.

 

NEW FUND LAUNCH

3.Religare Fixed Maturity Plan – Series XI – Plan E (371 Days).

Religare Mutual Fund launched Religare Fixed Maturity Plan – Series XI – Plan E (371 Days), a close ended income scheme. The new issue is open for subscription from 20th December and closes on 21st December 2011.

News Source – AMFI INDIA.

Latest Indian Mutual Fund News | 20-Dec-2011
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