Latest Indian Mutual Fund News | 27-Dec-2011
1.Canara Robeco MF declares dividend under Monthly Income Plan.
Canara Robeco Mutual Fund has declared dividend under quarterly dividend option of Canara Robeco Monthly Income Plan. The quantum of dividend will be Rs 0.30 per unit as on record date. The record date for the dividend payout has been fixed as December 30, 2011.
News Source – LIVE MINT.
2.Templeton India Growth Fund Declares Rs 1.50 per unit of Dividend.
Franklin Templeton Mutual Fund has announced dividend in Templeton India Growth Fund. The quantum of dividend will be Rs. 1.50 per unit for Individuals and HUFs. The record date has been fixed as December 30, 2011. Earlier, it had declared a dividend of Rs. 4.5 per unit in December 2010.
News Source – VALUE RESEARCH.
Tata Mutual Fund has announced dividend under the quarterly dividend option of Tata Fixed Income Portfolio Fund – Scheme B3. The quantum of dividend will be the entire returns generated between September 28, 2011 and December 29, 2011. The record date has been fixed as December 29, 2011.
News Source – VALUE RESEARCH.
4.Best performing funds see increase in assets.
That markets and investors actively chase returns has once again been proved correct as seen from the fund flows across categories. Equity-balanced-and even tax-saving-categories have seen a decrease in assets under management to the tune of 16-18 per cent between November 2010 to November this year. But in cases where the individual equity schemes had delivered a sound performance (falling less than their benchmark), the assets too grew. It was a different case with gold altogether. Riding on the swift upward movement in gold prices, ETFs tracking this asset class alone saw a steep 176.2 per cent increase in assets under management.
News Source – BUSINESS LINE.
The stock market regulator, the Securities and Exchange Board of India (Sebi), has asked mutual fund companies to reduce the number of new product launches and merge similar products to reduce confusion among investors, said UK Sinha, Sebi chairman, in Chennai on Monday. "Sebi has been encouraging mutual fund companies to launch fewer number of new schemes, unless, such type of a scheme does not exist otherwise. We are also encouraging them to merge schemes that are almost similar to reduce the number of products in the market and help customers choose the right product," said Sinha.
News Source – FINANCIAL CHRONICLE.
6.Gold, debt schemes hog limelight in a trying year.
In a year when most equity schemes ended up giving negative returns, gold funds turned in a sparkling performance, delivering returns of over 34%, largely due to safe haven demand in the wake of rising risk aversion globally. Gold exchange traded funds (ETFs) remained in demand for the better part of the year especially since many fund houses like Reliance MF, HDFC MF, Kotak Mahindra and IDBI MF launched systematic investment plans (SIP) giving investors an option to invest in small amounts. The price of gold surged from $1,370 per troy ounce to a high of $1,900 troy per ounce. Currently prices are ruling at $1,600 per troy ounce.
Apart from Gold funds, debt fund also remained in the limelight as the RBI continued to hike key policy rates in 2011. Fixed maturity plans (FMPs) turned out to be quite attractive for investors with interest rates continuing to rise. Liquid funds, on the other hand, gave modest returns in the range of 7-9%, as most fund managers did not invest in longer duration paper.
News Source – FINANCIAL EXPRESS.
Investors may end up shouldering higher costs for their equity mutual fund investments if the recommendation of a Securities and Exchange Board of India (Sebi)-appointed panel on mutual fund is approved by the regulator. The committee has suggested exclusion of service tax from the fee that investors pay mutual funds every year, measured as expense ratio. The move would bring down the expense ratio to 2.4% from the current 2.5% on equity schemes with assets below 100 crore, but the excluded service tax could effectively increase the overall charges of investors to 2.6% (where funds get 1.25% of management fees), industry officials said.
News Source – ECONOMIC TIMES.
NEW FUND LAUNCH
8.Taurus MF Unveils Taurus Fixed Maturity Plan Series L.
Taurus Mutual Fund has launched a new fund named as Taurus Fixed Maturity Plan – Series L (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 26 December and close on 28 December 2011.
News Source – NAV INDIA.
NEW FUND OFFER
9.Canara Robeco Gold Exchange Traded Fund files offer document with Sebi.
Canara Robeco Mutual Fund has filed offer document with Sebi to launch Canara Robeco Gold Exchange Traded Fund, an open ended exchange traded fund. The New Fund Offer price is Rs 10 per unit. Investment objective: The investment objective of the Scheme is to generate returns that are in line with the performance of gold, subject to tracking errors.
10.IDFC Mutual Fund revises exit load under IDFC Ultra Short Term Fund.
IDFC Mutual Fund has announced to revise exit load structure under IDFC Ultra Short Term Fund. Accordingly, the revised exit load/CDSC will be 1% of the applicable NAV for all investment including SIP/Micro SIP/STP if redeemed/switched out within 100 days from the date of allotment. The revised exit load structure will be effective from 27th December 2011.
News Source – MUTUAL FUND INDIA.
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