Latest Indian Mutual Fund News | 24-Jan-2012
Edelweiss Mutual Fund has announced 27 January 2012 as the record date for declaration of dividend under the dividend option of Edelweiss Absolute Return Fund, an open ended equity scheme. The amount of dividend will be Re. 0.18 per unit on the face value of Rs 10 per unit. The scheme recorded NAV of Rs 10.70 per unit as on 19 January 2012.
News Source – NAV INDIA.
Franklin Templeton Mutual Fund has announced 27 January 2012 as the record date for declaration of dividend under Franklin India Bluechip Fund and FT India Dynamic PE Ratio Fund of Funds.
News Source – INDIA INFOLINE.
3.Kuwait's $1-billion India Portfolio: Five local fund houses to manage.
Kuwait Investment Authority (KIA), the Gulf state's sovereign wealth fund, has selected five domestic mutual fund houses to manage its India equity portfolio. Birla Sun Life Mutual Fund, DSP Blackrock, ICICI Prudential, Canara Robeco Mutual Fund and Franklin Templeton will manage over $1 billion of KIA's money in India. The fund houses have been allocated funds in the range of $200-300 million, according to people familiar with the matter. Almost 90% of the corpus will be invested in equities.
News Source – ECONOMIC TIMES.
The Association of Mutual Funds in India (AMFI) is exploring the possibility of redrafting the disclaimer – "mutual fund investments are subject to market risks. Please read the scheme information document carefully before investing" – to add a positive flavour and encourage more investors to park their funds in such schemes.
The disclaimer along with mutual fund advertisements and offer documents were acting as a hindrance in attracting new investors, senior officials in the mutual fund industry said. Responding to a specific query from an independent financial advisor regarding the possibility of doing away with the disclaimer, Mr V. Ramesh, Deputy Chief Executive of AMFI, said that these disclaimers were essential to safeguard the fund house from the possibility of getting entangled in litigations.
News Source – BUSINESS LINE.
NEW FUND LAUNCH
5.UTI MF files offer document to launch "UTI-Fixed Term Income Fund – Series XI".
UTI Mutual Fund has filed an offered document with SEBI to launch a new close ended income scheme named "UTI-Fixed Term Income Fund – Series XI". The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
News Source – MONEY REDIFF.
MERGER OF SCHEMES
6.Tata Mid Cap Fund & Tata Capital Builder Fund to merge into Tata Growth Fund.
Tata Mutual Fund has announced the merger of Tata Mid Cap Fund & Tata Capital Builder Fund into Tata Growth Fund. The record date for the same is 24 February 2012. The investment objective of Tata Growth Fund is to provide income distribution and/or medium to long term capital gains. Post the said merger the investment objective & investment allocation pattern of Tata Growth Fund will be unchanged except that investment would be focussed towards mid cap stocks.
News Source – INDIA INFOLINE.https://www.investmentkit.com/articles/2012/01/latest-indian-mutual-fund-news-24-jan-2012/https://www.investmentkit.com/articles/wp-content/uploads/2011/09/news.jpeghttps://www.investmentkit.com/articles/wp-content/uploads/2011/09/news.jpegMutual Fundsabsolute return fund,Auto,disclaimer,Draft,income,india infoline,investment,kuwait investment authority,Mutual,mutual fund investments,mutual fund news,News,TataDIVIDEND 1.Edelweiss Absolute Return Fund announces dividend. Edelweiss Mutual Fund has announced 27 January 2012 as the record date for declaration of dividend under the dividend option of Edelweiss Absolute Return Fund, an open ended equity scheme. The amount of dividend will be Re. 0.18 per unit on the face value...Admin[email protected]AdministratorInvestmentKit Articles
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