1.SEBI may make MTM in liquid funds compulsory in a year.
Documents released by the Securities and Exchange Board of India (SEBI) on Thursday show the mark-to-market (MTM) valuations norms for liquid mutual funds could be extended to all securities within one year. The Mutual Funds Advisory Committee had recommended implementation of MTM valuation norms in three phases, the agenda papers of the board meeting held on January 28 showed. The papers were published by SEBI on Thursday.
The committee had suggested that MTM rules shall be extended to instruments with residual maturity of up to 30 days in the next six months and further to all securities in another six months. SEBI has already approved the first phase of this move at the above board meeting. The new MTM threshold of 60 days on debt and money market securities has already taken effect.
News Source – BUSINESS STANDARD.
NEW FUND LAUNCH
Taurus Mutual Fund has launched a new fund named as Taurus Fixed Maturity Plan – Series O (397 Days), a close ended debt scheme with the duration of 397 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will be open for subscription from 24 February and close on 1 March 2012.
News Source – INDIA INFOLINE.
1.Tata Fixed Income Portfolio Fund-Scheme B2 announces dividend.
Tata Mutual Fund has announced 29 February 2012 as the record date for declaration of dividend under the quarterly dividend option of Tata Fixed Income Portfolio Fund-Scheme B2. The quantum of dividend on the face value of Rs. 10 per unit will be entire returns generated between 30 November 2011 to 29 February 2012, subject to availability of distributable surplus.
NEW FUND LAUNCH
2.UTI MF Launches UTI – Fixed Term Income Fund – Series X – X (367 Days).
UTI Mutual Fund has launched a new fund named as UTI – Fixed Term Income Fund – Series X – X (367 Days), a close ended income scheme with the duration 367 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 24 February and will close on 28 February 2012. The maturity date of the scheme is 1 March 2013.
UTI Mutual Fund has unveiled a new fund named as UTI – Fixed Term Income Fund – Series XI – I (369 Days), a close ended income scheme. It would mature on 4 March 2013. The New Fund Offer (NFO) price for the schemes is Rs. 10 per unit. The new issue will be open for subscription from 24 February and will close on 29 February 2012.
News Source – NAV INDIA.