1.Tata Equity P/E Fund (Dividend Trigger Option A-5%) announces dividend.
Tata Mutual Fund has announced 20 January 2012 as the record date for declaration of dividend under the dividend option of Tata Equity P/E Fund (Dividend Trigger Option A-5%). The quantum of dividend will be Rs 1 per unit on the face value of Rs 10 per unit. The scheme recorded NAV of RS 27.1373 per unit as on 12 January 2012.
News Source – NAV INDIA.
2.MFs use dividend on ELSS to attract inflows.
It is that time of the year again when companies selling tax-saving financial products, such as mutual funds, go all out to lure investors. With the tax-saving season upon us, investors in equity-linked saving schemes (ELSS), better known as tax-saving mutual funds, are set to receive 'timely' dividends as fund houses up the ante to attract fresh inflows.
As per industry data, there are close to 40 tax-saving schemes from almost all fund houses operating in the country at this moment. At the end of December 2011, the Association of Mutual Funds in India (AMFI) data showed that ELSS schemes managed over Rs 20,600 crore in assets, the fourth largest fund category in the mutual fund industry that manages Rs 6,11,402 crore.
News Source – FINANCIAL CHRONICLE
NEW FUND LAUNCH
3.Religare MF Unveils Religare Fixed Maturity Plan – Series XII – Plan A.
Religare Mutual Fund has unveiled a new fund named as Religare Fixed Maturity Plan – Series XII – Plan A (370 Days), a close ended debt scheme. The tenure of the scheme is 370 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will open and close subscription on 16 January 2012.
News Source – INDIA INFOLINE.