Latest Indian Mutual Fund News | 10-Feb-2012


1.UTI Fixed Income Interval Fund-Monthly Interval Plan II announces dividend.

UTI Mutual Fund has announced 14 February 2012 as the record date for declaration of dividend under the dividend option of UTI Fixed Income Interval Fund-Monthly Interval Plan II. The quantum of dividend will be 100% of distributable surplus as on the record date on the face value of Rs. 10 per unit. The scheme recorded NAV of Rs. 10.0540 per unit under retail option and Rs. 10.0584 per unit under institutional option.




2.With equity, debt schemes in focus, MFs may do well in '12.

Mutual funds are expected to fare better in 2012 with equity and debt schemes likely to be in the limelight. The expectations are based on factors like a possible revival in stock market fortunes along with hopes of a rate cut in the near term.



3.CRR cut puts bank stocks back on fund managers' radar.

Banks are back on fund managers' radar. With a 50 basis points (bps) cut in their Cash Reserve Ratio (CRR) and rising anticipation of reduction in key policy rates, mutual fund (MF) equity managers are taking a quick buy call on the banking counter.

In January alone, amid a bull run in the equity markets, the equity asset allocation of fund houses to banks rose by 176 bps. The development came after they had consistently reduced exposure to banks over the previous couple of months. Since June last year, this asset allocation had reduced by close to 200 bps till December. 



4.Air India begins sounding LIC and mutual funds for bond sale.

Government-owned Air India, which is to issue non-convertible debentures (NCDs) to raise funds for repaying its debt mountain, has begun informally sounding Life Insurance Corporation (LIC) of India, mutual fund houses and government-owned non-life insurance companies to subscribe to the issue, bankers said.

Permission from a group of ministers came yesterday for the NCD issue, as part of a debt recast plan; it has still to be approved by the Cabinet. The NCDs are, goes the proposal, to be guaranteed by the government and aimed to raise Rs 7,400 crore. They'd have a 20-year maturity and carry a slightly higher coupon rate than comparable government securities.


Latest Indian Mutual Fund News | 10-Feb-2012
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