Latest Indian Mutual Fund News | 03-Feb-2012
1.Motilal setting out to define India's ETF market.
The firm's funds arm has three ETFs and is eager to pioneer new products as it bets that passive funds will ultimately gain far greater traction in the industry in India. If there is one outfit in India that's determined to deepen the nation's exchange-traded funds (ETF) market, it's the mutual funds arm of Motilal Oswal Financial Assets.
India's ETF market is, after all, a nascent seven years old and boasts just 32 products. Overall there are 44 fund management firms in the country, of which 14 (or 32%) have launched ETFs. Among these, 12 have listed gold ETFs (the exceptions being IIFL and Motilal), and 10 have launched a combined 20 equity ETFs, according to Value Research data. Gold products dominate the landscape, both by volume and value. At the end of December last year, gold ETFs accounted for $1.8 billion in AUM, compared with $332 million in equity ETFs.
News Source – ASIAN INVESTOR.
2.Asset management company IDBI Mutual Fund proposes to introduce more equity products.
Asset management company IDBI Mutual Fund has proposed to introduce more equity products in the coming months, a senior official said today. "Presently, the equity markets is doing well. We want to introduce more equity products.", IDBI Asset Management Company Executive Director B Sarath Sarma told reporters here.
He said the company wanted to give more options to customers since equity market were doing well and that was the reason for their proposal to introduce more products in the equity market. "We want to give more choice to our customers and distributors.", he said.
News Source – ECONOMIC TIMES.
UTI Mutual Fund has announced 7 February 2012 as the record date for declaration of dividend under the dividend option of UTI Fixed Income Interval Fund Series II Quarterly Interval Plan V. The quantum of dividend will be 100% distributable surplus as on the record date on the face value of Rs. 10 per unit. The scheme recorded NAV of Rs. 10.0844 per unit under retail option and Rs. 10.0853 per unit under institutional option as on 31 January 2012.
UTI Fixed Income Interval Fund Series II Quarterly Interval Plan V is an interval scheme. The scheme aims to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the respective plan.
News Source – INDIA INFOLINE.
Reliance Mutual Fund has announced 7 February 2012 as the record date for declaration of dividend under the dividend option of Reliance Interval Fund – Quarterly Interval Fund Series II-Institutional and Retail Plans.
News Source – NAV INDIA.
5.Indiabulls Short Term Fund files offer document with SEBI.
IndiaBulls Mutual Fund has filed offer document with Sebi to launch Indiabulls Short Term Fund, an open ended debt scheme. The New Fund Offer price is Rs. 1000 per unit.
News Source – INDIA INFOLINE.
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