Latest Indian Mutual Fund News | 22-Dec-2011
NEW FUND OFFER
1.Morgan Stanley Gilt Fund files offer document with Sebi.
Morgan Stanley Mutual Fund has filed offer document with Sebi to launch Morgan Stanley Gilt Fund, an open ended gilt scheme. The New Fund Offer price is Rs 10 per unit. Investment objective: To generate returns primarily through investments in sovereign securities issued by the Central Government and/ or a State Government or repos/ reverse repos in such securities or any security unconditionally guaranteed by the Central / State Government.
News Source – NAV INDIA.
Mutual Fund has filed offer document with Sebi to launch Mirae Asset Twin Advantage Fund (Series I-III), a close ended income scheme. The New Fund Offer price is Rs. 10 per unit. The Series I, II & III can have tenure of 12 months to 60 months from the respective date of allotment. Investment objective: The primary investment objective of the schemes is to generate returns by investing in a portfolio of high quality debt and money market securities along with secondary objective of generating capital appreciation by investing in equity & equity related instruments.
News Source – INDIA INFOLINE.
NEW FUND OFFER
3.IDBI Gold Fund files offer document with Sebi.
IDBI Mutual Fund has filed offer document with Sebi to launch IDBI Gold Fund, an open-ended Fund of Funds scheme. The New Fund Offer price is Rs 10 per unit. Investment objective: The investment objective of the Scheme will be to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund.
5.Principal Mutual Fund Announces Changes In Face Value Per Unit of Various Schemes.
Principal Mutual Fund has decided to change the face value per unit of all plans/options under Principal Retail Money Manager Fund, Principal Cash Management Fund (open ended liquid schemes), Principal Near Term Fund – Conservative & Moderate Plan and Principal Ultra Short Term Fund (open ended debt schemes). Accordingly, the face value has been changed from Rs. 10/- to Rs. 1000/-, with effect from 24 December 2011. Accordingly, the NAV per unit of all the plans / options under respective Schemes will be reset to reflect the change in face value of units and balance unit holding of existing unitholders of respective Schemes will reduce proportionately. However, this will not have any impact on the current value of investments of unitholders in respective Schemes.
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