Religare Mutual Fund has announced 28 February 2012 as the record date for declaration of dividend under the dividend option of Religare Fixed Maturity Plan-Series V-Plan E (370 Days), a closed ended debt scheme. The quantum of dividend will be entire distributable surplus as on the record date.
28 February 2012 has been fixed as the record date for the purpose of determining eligible unit holders holding units of the scheme who would be entitled to the maturity/redemption proceeds on the maturity/final redemption date of the scheme. The maturity/final redemption date of the scheme is 28 February 2012.
News Source – NAV INDIA.
SEBI has loosened the advertising code for the mutual fund industry making it more 'principle-based, rather than rule-based'. The rationale behind the change in the advertising code was that the existing regulations were rule-based and imposed a lot of restrictions. AMCs had difficulty in complying with the many prescriptive norms on advertisements (such as mandatory disclosures in standard warnings, font sizes, time for audio visual display).
With respect to the amendment, SEBI has mandated that the advertising, which would include all forms of communication, should avoid extensive use of technical or legal terminology'. It should also be devoid of any extensive details which "may detract the investors".
News Source – BUSINESS LINE.
3.Quantum Mutual Fund announces pick-up facility.
Quantum Mutual Fund has announced that the investors of the fund house shall have an option to get their application for subscription in the schemes of the fund house through pick-up facility as may be arranged by Quantum Mutual Fund/Quantum Asset Management Company through various pick-up service provider(s) from time to time with effect from 23 February 2012.
News Source – INDIA INFOLINE.