1.AMFI's committee mulling ways to enhance customer engagement.

Confirming the development, V. Ramesh, Deputy CEO, AMFI told Cafemutual "A customer engagement committee has been formed which will look at various dimensions of the customers experience with mutual funds. The committee will primarily look at the issues and problems faced by mutual fund investors."


"The whole idea is to look at how we can enhance client engagement at various levels. It's quite a wide scope. These initiatives are at a concept stage," said a person familiar with the development. The industry is yet penetrate beyond top 10 cities, a concern which U.K. Sinha, Chairman of SEBI has also expressed and urged fund houses to expand their reach in smaller towns. All fund houses now publish the bifurcation of their AUM and their geographical reach. AMFI has recently spread the concept of mutual funds through an advertising campaign called "Mutual Fund – Savings ka Naya Tareeka". The campaign received 41,000 SMS responses from people.

News Source – CAFE MUTUAL.

2.Bonds to tap household gold hoard.

The government is considering launch of gold bond scheme in the budget. This is meant to tap household savings locked in gold to fund infrastructure projects. The bonds are proposed to have five-year maturity with capital protection and return linked to yellow metal prices. On redemption of bonds, the gold can be delivered in physical form to subscribers who may opt for the yellow metal instead of cash.


Finance ministry's assessment is that 50 per cent of household savings are locked in physical assets like real estate and gold that needs to be tapped for finding resources for infrastructure projects.

News Source – FINANCIAL CHRONICLE.

NEW FUND LAUNCH

3.Tata Fixed Maturity Plan Series 39 Scheme C Floats On.

Tata Mutual Fund has launched a new fund named as Tata Fixed Maturity Plan Series 39 Scheme C, a close-ended debt scheme with the duration of 398 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will be open for subscription from 17 February and closes on 27 February 2012.



News Source – INDIA INFOLINE.

4.Reliance MF Floats Reliance Fixed Horizon Fund – XXI – Series 8.

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXI – Series 8, a close ended income scheme with the duration of 367 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 17 February and will close on 22 February 2012.

News Source – NAV INDIA.

5.Tata Fixed Maturity Plan Series 39 Scheme C Floats On.

Tata Mutual Fund has launched a new fund named as Tata Fixed Maturity Plan Series 39 Scheme C, a close-ended debt scheme with the duration of 398 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will be open for subscription from 17 February and closes on 27 February 2012.

News Source – NAV INDIA.

6.UTI MF Unveils 368 Days Fund.

UTI Mutual Fund has unveiled a new fund named as UTI – Fixed Term Income Fund – Series X – IX (368 Days), a close ended income scheme with the duration 368 days. During the New Fund Offer (NFO) period, the units of the fund will be sold at the face value of Rs 10 per unit. The new issue will be open for subscription from 17 February and will close on 23 February 2012.

News Source – NAV INDIA.

Latest Indian Mutual Fund News | 18-Feb-2012
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