1.UTI MF Announces Dividend for Fixed Income Interval Fund.
UTI Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of UTI Fixed Income Interval Fund Series II – Quarterly Interval Plan VI. The record date for dividend has been fixed as 5 March 2012. The quantum of dividend will be 100% of distributable surplus as on the record date. The NAV for retail and institutional option stood at Rs 10.1564 per unit each as on 27 February 2012.
News Source – NAV INDIA.
Reliance Mutual fund has announced 5 March 2012 as the record date for declaration of dividend under the dividend payout option of Reliance Fixed Horizon Fund – XIX – Series 1. The quantum of dividend per unit will be entire distributable surplus available in the scheme as on the record date. The scheme recorded NAV of Rs. 10.7539 per unit as on 27 February 2012. Reliance Fixed Horizon Fund – XIX – Series 1 is a close ended income scheme.
News Source – INDIA INFOLINE.
3.As markets rally, MFs pump in cash.
As the fortunes of the markets took a turn for the better in the beginning of 2012, managers of the country's largest mutual funds jumped into the fray, pumping in money and reducing their cash holdings. In January, when the market moved up by double digits, majority of the top ten schemes held less than five per cent of their total assets in cash or cash equivalent. Some even reduced their cash position to below one per cent, despite rising redemptions from equity schemes.
These include HDFC Top 200, HDFC Equity, Reliance Growth, Franklin India Bluechip, UTI Dividend, ICICI Prudential Focused Bluechip and DSP BlackRock Top 100 Equity Regular. All put together, these schemes hold around 30 per cent of the industry's overall equity assets of around Rs 1.8 lakh crore.
News Source – BUSINESS STANDARD.
NEW FUND LAUNCH
4.UTI MF Launches UTI – Fixed Term Income Fund – Series XI – III (368 Days).
UTI Mutual Fund has launched a new fund named as UTI – Fixed Term Income Fund – Series XI – III (368 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 29 February and will close on 1 March 2012.
News Source – INDIA INFOLINE.
5.Goldman Sachs MF Declares Dividend under Two Schemes.
Goldman Sachs Mutual Fund has announced 5 March 2012 as the record date for declaration of dividend in the dividend option of Goldman Sachs Derivative Fund and Goldman Sachs Equity & Derivatives Opportunities Fund, open ended derivative funds.
The quantum of dividend for Goldman Sachs Derivative Fund will be Rs. 105 per unit on the face value of Rs. 1000 per unit. The scheme recorded of Rs. 1116.2195 per unit as on 27 February 2012. The quantum of dividend for Goldman Sachs Equity & Derivatives Opportunities Fund will be Rs. 1.35 per unit on the face value of Rs. 10 per unit. The scheme recorded of Rs. 11.4888 per unit as on 27 February 2012.
6.Religare MF Declares Dividend For Fixed Maturity Plan – Series IX – Plan A.
Religare Mutual Fund has announced 5 March 2012 has the record date for declaration of dividend under dividend option of Religare Fixed Maturity Plan – Series IX – Plan A (180 Days). The quantum of dividend will be entire distributable surplus as on the record date. The scheme recorded NAV of Rs 10.4343 per unit as on 27 February 2012.
7.Morgan Stanley Short-term Bond: Change in Exit Load.
Morgan Stanley Mutual Fund has announced a revision in the exit load of Morgan Stanley Short-term Bond, effective March 1, 2012. The revised exit load will be 0.5% if redeemed on or before the expiry of 6 months from the date of allotment. Presently, the exit load is Nil.
News Source – VALUE RESEARCH.
8.SEBI allows fund managers to manage both domestic, overseas money.
Market regulator SEBI has allowed fund managers to manage both domestic and overseas money across all their activities, including mutual funds, offshore and portfolio management service.
Last year, the regulator, while allowing asset management companies to share back-end resources, had said they should appoint separate fund managers for each separate fund they manage unless the investment objectives and asset allocations were the same and the portfolio was replicated across all the funds managed by the fund manager. "It has been represented to SEBI that the perfect replication of portfolio between the mutual fund scheme and products under other permissible activities of Asset Management Company (AMC) may not be achieved at all times," the regulator said in a circular on Tuesday.
News Source – ECONOMIC TIMES.
9.SEBI mandates separate fund manager for each scheme.
One fund manager per fund is what SEBI is telling mutual fund houses. In a circular put up on its Website, the capital market regulator has mandated that the asset management companies (AMCs) will appoint one fund manager per scheme so as to avoid any conflict of interest that might arise from managing multiples funds at the same time.
News Source – BUSINESS LINE.
10.SEBI amends valuation norms for MFs; raises transparency levels.
The Securities and Exchange Board of India (SEBI) on Tuesday tightened valuation norms for money market instruments in a mutual fund scheme. The latest amendments have been made with a view to ensure that the value of the portfolio reflects the market situation to a greater extent.
All money market and debt securities, including floating rate securities, with residual maturity of up to or over 60 days will need be valued at the weighted average price at which they are traded on the particular valuation day. Earlier, the valuations norms were applicable only if the residual maturity was up to or over 91 days.
News Source – FINANCIAL EXPRESS.
11.MFs get time till Sept to implement new debt valuation norms.
The Securities and Exchange Board of India (Sebi) has given seven months to asset management companies (AMCs) to implement the new valuation norms for liquid funds. Under this, the regulator has decided to bring down the threshold for marked to market (MTM) requirements to 60 days from 91 days earlier. The new norms will be effective from September 30. The capital market regulator in a circular on Tuesday said, to enhance transparency, AMCs should disclose all details of debt and money market securities transacted in its schemes portfolio on their websites.