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1.Canara Robeco Equity Tax Saver announces dividend.

Canara Robeco Mutual Fund has announced 9 March 2012 as the record date for declaration of dividend under the dividend option of Canara Robeco Equity Tax Saver. The quantum of dividend will be Rs. 1 per unit.



News Source – INDIA INFOLINE.

 

2.Tata Mutual Fund announces dividend under two schemes.

Tata Mutual Fund has announced 9 March 2012 as the record date for declaration of dividend under the dividend options of Tata Contra Fund and Tata Dividend Yield Fund. The quantum of dividend will be Rs 1 per unit under each scheme on the face value of Rs 10 per unit.

News Source – NAV INDIA.

 

GENERAL

 

3.ICICI Bank, LIC, Bank of Baroda to launch infra debt fund.

The decks have been cleared for the launch of country's first infrastructure debt fund (IDF) under the company route. Private sector lender ICICI Bank and other financial biggies, including Bank of Baroda and Life Insurance Corporation, have decided to come together to set up an IDF as a non-banking finance company (NBFC).


A memorandum of understanding will be signed for this purpose in the presence of the Finance Minister, Mr Pranab Mukherjee, here on Monday, official sources said. The Finance Ministry had on June 24 last year issued guidelines, allowing IDFs to be set up either as trusts or as companies. A trust-based IDF would basically be a mutual fund that would issue units. On the other hand, a company-based fund is an NBFC that would issue bonds to domestic as well as foreign investors.

READ  Latest Indian Mutual Fund News | 22-Sept-2012

News Source – BUSINESS LINE.

 

4.Quantum Mutual Fund Launches New Payment Option through Prepaid Cards.

Quantum Mutual Fund, India's first completely paperless online mutual fund has offered Prepaid cards as an online payment option for its investors. After logging in to Quantum Mutual Fund's Invest Online platform, investors can complete their usual online mutual fund transaction and then select "Prepaid Card" as payment option. Investors will then have to enter their prepaid card number in order to complete their transaction. 


Strengthening its first-mover stance, Quantum is currently the only mutual fund house in India to offer such a payment mechanism. The fund house is known as the country's first direct-to-investor mutual fund, and early last year launched India's first completely paperless invest online platform.

News Source – NAV INDIA.

 

5.Smaller-cap stocks help mutual funds in February.

Diversified equity funds posted better returns than the Sensex in February, helped by small and medium-sized stocks that rose on increased foreign and domestic buying. Diversified funds, the largest category of stock funds in India by number and assets, returned an average 4.8 per cent in the month, according to fund tracker Lipper, a Thomson Reuters company. These funds outperformed the benchmark index, which rose 3.25 per cent on robust inflows from foreign institutional investors (FIIs) and hopes of easing monetary policy.

News Source – BUSINESS STANDARD.

 

NEW FUND LAUNCH

 

6."Axis Fixed Term Plan – Series 20 (3 Months)", floats on; NFO to close on March 6.

Axis Mutual Fund launched a new close ended debt scheme named "Axis Fixed Term Plan – Series 20 (3 Months)", with maturity time of 3 months. The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription today and will close on March 6. 


According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through thestock exchange mode. The minimum application amount was Rs 5,000 and in multiples of Rs.10 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend Payout option.

READ  Latest Indian Mutual Fund News | 01-Mar-2012

News Source – MONEY REDIFF.

 

7.Religare MF Launches Religare Fixed Maturity Plan – Series XIII – Plan C.

Religare Mutual Fund has launched a new fund named as Religare Fixed Maturity Plan – Series XIII – Plan C (13 Months), a close ended debt scheme. The tenure of the scheme is 13 months from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will open and close subscription on 5 March 2012.

News Source – INDIA INFOLINE.

 

DIVIDEND

 

8.Taurus MF Declares Dividend for Quarterly Interval Fund Series – 2.

Taurus Mutual Fund has announced the declaration of dividend on the face value of Rs. 10 per unit under dividend plan of Taurus Quarterly Interval fund Series 2. The record date for dividend has been fixed as 9 March 2012.

News Source – INDIA INFOLINE.

 

NEW FUND LAUNCH

 

9.UTI MF Launches UTI – Fixed Term Income Fund – Series XI – V (1120 Days).

UTI Mutual Fund has launched a new fund named as UTI – Fixed Term Income Fund – Series XI – V (1120 Days), a close ended income scheme. It would mature on 6 April 2015. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit. The new issue will be open for subscription from 5 March and will close on 12 March 2012.

News Source – NAV INDIA.

Latest Indian Mutual Fund News | 06-Mar-2012
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