1.MOSt 10 Year Gilt Fund announces change in exit load.
Motilal Oswal Mutual Fund has announced change in exit load of Motilal Oswal MOSt 10 Year Gilt Fund with effect from 13 January 2012. Accordingly, the revised exit load structure will be 0.50% for any amount if redeemed within six months of allotment of units.
Motilal Oswal MOSt 10 Year Gilt Fund is an open ended gilt scheme. The primary investment objective of the scheme is to generate credit risk-free returns by investing in a portfolio of securities issued by the central government and state government.
News Source – INDIA INFOLINE.
2.Equity investors stay put net inflows at Rs 360 cr.
Nothing could have been more surprising for the fund managers than seeing equity investors stay put at a time of pessimism. Anticipating December to be worse than November, fund managers had been fearing higher redemptions. However, proving them wrong, investors chose to stay at a time when benchmark indices have lost four per cent of their values.
With net inflows of Rs 360 crore, pure equity schemes gained, surprising fund managers. Interestingly, some of the executives Business Standard spoke to were sceptical of the statistics released by the Association of Mutual Funds in India (AMFI).
News Source – BUSINESS STANDARD.
NEW FUND LAUNCH
3.Axis Life Plan: Fund of all Funds.
Axis Mutual Fund plans to launch an open ended fund-of-funds scheme (FOF) – Axis Life Plan according to the offer document filed with the Securities and Exchange Board of India (SEBI). The scheme will offer four different plans – Plan 2020, Plan 2025, Plan 2030 and Plan 2035. Each plan will have a different portfolio. The name of the plan mentions the target date (31st December of the respective year) based on which the asset allocation will be run as per the investment strategy. The assets of the scheme will be allocated in a range of mutual fund schemes including equity funds, debt funds, gold ETFs (exchange-traded funds) and offshore funds. The scheme will also invest in debt and money market securities for liquidity.
News Source – MONEY LIFE.
The Securities and Exchange Board of India has said that fund houses should launch pension products, so that retirement money can be brought into the capital market.
Noting that retirement and pension money is not coming to the market, the SEBI Chairman, Mr U.K. Sinha, wondered why Asset Management Companies (AMCs) are not launching funds aimed at attracting pension money.
"Retirement and pension money is not coming into the market. It is legally possible that retirement money can be invested in the markets… why are AMCs not able to launch pension funds?" Mr Sinha said at India Investment Conference.
News Source – BUSINESS LINE.