1.L&T MF declares dividend under FMP-II (December 370D A).
L&T Mutual Fund has declared dividend under the dividend payout option of L&T FMP-II (December 370D A) (close ended income scheme)on the face value of Rs 10 per unit. The quantum of dividend will be 100% distributable surplus as on the record date. The record date for the dividend payout has been fixed as December 26, 2011.
News Source – LIVE MINT.
2.PF inflows lift assets managed by portfolio managers.
Assets under management (AUM) of discretionary PMS clients in November have nearly doubled from a month ago chiefly because investments through the Employees provident Fund Organisation/Provident Fund route doubled. The AUM figures for discretionary clients have increased to Rs 3.1 lakh crore in November from Rs 1.58 lakh crore in October. Discretionary clients are the ones whose portfolios are completely managed by portfolio managers.
The AUM for discretionary clients includes funds from EPFOs and PFs. The amount invested through the EPFO/PF route in November increased to Rs 2.75 lakh crore from the Rs 1.21 lakh crore in the previous month. This data is accompanied by "mandate for managing PF funds has been recently renewed by the EPFO" on the SEBI Web site.
News Source – BUSINESS LINE.
NEW FUND LAUNCH
Reliance Mutual Fund launched Reliance Fixed Horizon Fund – XXI – Series 3, a close ended income scheme. The new issue is open for subscription from 21st December and closes on 28th December 2011.
News Source – AMFI INDIA.
NEW FUND OFFER
1.Axis Fixed Term Plan – Series 20 – 25 files offer document with Sebi.
Axis Mutual Fund has filed offer document with Sebi to launch Axis Fixed Term Plan – Series 20 – 25, a close ended debt scheme. The New Fund Offer price is Rs. 10 per unit. Investment objective: The plan(s) of the scheme will endeavour to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the respective plan(s).
News Source – INDIA INFOLINE.
2.Bharti AXA Mutual Fund announces dividend under Bharti AXA Short Term Income Fund.
Bharti AXA Mutual Fund has declared dividend under Bharti AXA Short Term Fund, on the face value of Rs.10 per unit. The quantum of dividend for distribution will be Rs.0.24 per unit. The investment objective of the scheme is to seek to generate income and capital appreciation by investing in a diversified portfolio of debt and money market securities. The record date for dividend distribution has been fixed as 26th December 2011.
News Source – MUTUAL FUND INDIA.
Reliance Mutual fund has announced 26 December 2011 as the record date for declaration of dividend under the dividend payout option of Reliance Fixed Horizon Fund – XVII – Series 1 (close ended income scheme). The quantum of dividend per unit will be entire distributable surplus available in the scheme as on the record date.
News Source – NAV INDIA.
4.SEBI relaxes top distributor due diligence norms.
AMCs and big distributors have some reason to cheer. The regulator has allowed fund houses to conduct due diligence of their top distributors with the help of a common external auditor. The first phase of due diligence will now cover around 220 distributors instead of 529 distributors. AMFI is in the process of short listing the auditors. Also, the time frame has been relaxed somewhat for the due diligence process to be conducted by AMCs.
News Source – CAFE MUTUAL.