NEW FUND OFFER
1.Axis MF files offer document to launch "AXIS FIXED TERM PLAN – SERIES 20 – 25".
Axis Mutual Fund has launched a new close-ended debt scheme named "AXIS FIXED TERM PLAN – SERIES 20 – 25". The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the stock exchange or any other exchange, the exit load charge will not be applicable. This allows the investors to exit through stock exchange mode, as per their wish.
News Source – MONEY REDIFF.
Reliance Mutual Fund has announced 29 December 2011 as the record date for declaration of dividend under the following schemes. The quantum of dividend on face value of Rs. 10 per unit will be:
Reliance Fixed Horizon Fund – XIX – Series 4 – Dividend Payout Option: Rs. 0.2267 per unit. Reliance Fixed Horizon Fund – XX – Series 13 – Dividend Payout Option: Entire distributable surplus available in the scheme as on the record date.
News Source – INDIA INFOLINE.
The Securities and Exchange Board of India (Sebi) has issued detailed rules on its new idea of Know-Your-Customer Registration Agencies (KRAs). The new rules, effective January 1, apply to intermediaries such as stock brokers, depository participants, mutual funds, portfolio managers, venture capital funds and collective investment schemes.
As already reported, to avoid replication of the KYC (know-your-customer) process with every intermediary, a mechanism for centralisation of KYC records in the securities market is to be developed. An intermediary shall perform the initial KYC of its clients and upload the details on the system of the KRA. When the client approaches another intermediary, the latter can verify and download the client's details from the system of the KRA. Once the client has done a KYC with a Sebi-registered intermediary, he need not undergo the same process with another.
News Source – BUSINESS STANDARD.
The year 2011 brought key changes in the Rs. 7.12 trillion Indian mutual funds (MFs) industry. In August 2011, the capital markets regulator, Securities and Exchange Board of India (Sebi), introduced transaction charges to compensate distributors. Sceptics shouted that Sebi brought back entry loads through the back door. But while a percentage of your initial investment value was charged as entry load prior to the ban in August 2009, the transaction charge has now been fixed. For investments of Rs. 10,000 and above, distributors will get paid a flat charge of Rs. 100 for an investor who already has MF schemes. For a new investor, the charge goes up to Rs. 150.
News Source – LIVE MINT.
NEW FUND OFFER
Canara Robeco Fund files offer document with SEBI to launch Canara Robeco Gold Savings Fund, an open ended fund of fund scheme. The New Fund Offer price is Rs 10 per unit. No entry load is applicable for the scheme and exit load of 2% if switched out on or before completion of 1 year from the date of allotment of units. The scheme offers dividend payout and growth option. The scheme seeks to collect a Minimum Target Amount of Rs 10 crore.
The scheme will be benchmarked against price of physical gold. The minimum application amount is Rs 5000 and in multiple of Rs 1 thereafter. The investment objective of the scheme is to provide returns that closely correspond to returns provided by Canara Robeco Gold Exchange Traded Fund ("the Underlying Scheme").
UTI Mutual Fund has announced 29 December 2011 as the record date for declaration of dividend under the following schemes. The quantum of dividend will be:
UTI Bond Fund (Dividend option): 3.00% or Rs. 0.300 per unit on face value of Rs. 10 per unit.
UTI Treasury Advantage Fund (Quarterly Dividend Plan): 2.00% or Rs. 20.00 per unit on face value of Rs. 1000 per unit.
UTI Dynamic Bond Fund (Dividend option): 1.00% or Rs. 0.10 per unit on face value of Rs. 10 per unit.
UTI Short Term Income Fund Monthly Dividend – Sub Option: Regular and Institutional: 2.50% or Rs. 0.250 per unit each on the face value of Rs. 10 per unit each.
LIC NOMURA Mutual Fund has announced 29 December 2011 as the record date for declaration of dividend under the dividend option of following schemes. The quantum of dividend on the face value of Rs 10 per unit will be:
LIC NOMURA MF Bond Fund: Individual/HUF: Rs 0.5285 per unit, others: Rs 0.4530 per unit.
LIC NOMURA MF G-sec Fund Regular Plan: Individual/HUF: Rs 0.2643 per unit, others: Rs 0.2265 per unit
LIC NOMURA MF G-sec Fund PF Plan: Individual/HUF: Rs 0.7928 per unit, others: Rs 0.6795 per unit
News Source – NAV INDIA.
The year gone by has been one of the worst years for the investors in the Indian equity markets as well as other emerging economies. India which has lost over 25% YTD in 2011 has been hit badly as compared to its peers whether it is among the BRIC nations, or the emerging markets or any other developed nations. Apart from the global events like Eurozone debt crisis and Sovereign rating downgrades, the domestic affairs like the loss of INR against the USD as well as other currencies, high inflation levels, the continuously rising interest rates and the Government failing to reach a consensus and materialize a policy that can boost investment and growth did put further pressure on the Indian markets due to which it could not benefit from any intermediate recovery.
News Source – ECONOMIC TIMES.