1.It is a positive year for mutual fund industry: ICRA.
With a less-than-promising 2011 behind, mutual fund houses can look forward to a better 2012, says a report from credit-rating agency ICRA. The report on the mutual fund industry says that with the equity markets on an upswing in 2012, interest among investors may come back. "The funds can also benefit from gradual improvement in confidence due to policy actions aimed to mitigate concerns emerging out of the Euro Zone debt crisis."
"Expected easing of monetary policy in other emerging markets is also expected to add to the positive sentiments," said the report. The BSE Sensex has so far, this calendar year, risen 13.6 per cent. Calendar 2011 witnessed a 24 per cent fall. Wealth management firms may now focus on mutual fund to retain their customer base in the wake of the increase in minimum investment amount for PMS.
News Source – BUSINESS LINE.
NEW FUND LAUNCH
2.Religare Fixed Maturity Plan – Series XII – Plan D (14 Months).
Religare Mutual Fund launched Religare Fixed Maturity Plan – Series XII – Plan D (14 Months), a close ended income scheme. The new issue is open for subscription from 8th February and closes on 14th February 2012.
News Source – AMFI.
1.UTI Mutual Fund flags off its Knowledge Caravan from Kolkata.
UTI Mutual Fund today flagged off its fourth UTI Knowledge Caravan from Kolkata as part of its Investor Education Initiative called "Swatantra". The Investor Education Initiative is in partnership with Ministry of Corporate Affairs, Government of India. UTI knowledge Caravan was flagged off by Mr Naresh Pachisia, Managing Director, S K P Securities.
This Caravan will cover the states of West Bengal, Assam, Meghalaya, Orissa, Bihar, Chattishgarh, Jharkhand, Tamil Nadu and Andhra Pradesh. During its journey it will cover more than 14,500 kms in about 245 days. As a part of this initiative four UTI Knowledge Caravans will travel through the length and breadth of the country for spreading financial literacy. The first Caravan was flagged off on October 31, 2011 from Delhi, second Caravan was flagged off on November 15, 2011 from Mumbai and third Caravan was flagged off on February 2.
News Source – 4 TRADERS.
2.IIFL Gold ETF files offer document with SEBI.
IIFL Mutual Fund has filed offer document with Sebi to launch IIFL Gold ETF, an open ended gold exchange traded fund. The New Fund Offer price is Rs. 10 per unit.
News Source – INDIA INFOLINE.