Latest Indian Mutual Fund News | 09-Mar-2012
1.MF industry awaits announcements on Direct Tax Code, Govt borrowing.
Announcements regarding Government borrowing plans and the Direct Tax Code will be the key takeaways for the mutual fund industry this Budget. While not many industry specific announcements are expected, the industry will be keenly watching the measures taken with respect to the fiscal deficit.
"Increased Government borrowing will bring in more liquidity into the market. This will, in turn, help make projections for future debt market yields. Indirectly, it will also give an idea of the growth trajectory of our economy", said Mr Killol Pandya, Head – Fixed Income, Daiwa Asset Management.
News Source – BUSINESS LINE.
2.High on returns, low on risk & volatility.
Launched in July 2005, UTI Opportunities Fund has been ranked Crisil Fund Rank 1 in the large-cap oriented equity category under the Crisil Mutual Fund Ranking methodology for the quarter ended December. Further, the fund has been ranked in the top 30 percentile of the peer group for the past eight quarters. The consistency in ranking can be attributed to efficient portfolio management and superior performance. The fund, which had average assets under management of Rs 2,385 crore for the quarter ended December, is managed by Anoop Bhaskar, head of equity at UTI Asset Management Company.
News Source – BUSINESS STANDARD.
NEW FUND LAUNCH
3.Axis MF Launches Income Fund.
Axis Mutual Fund has launched a new fund named as Axis Income Fund, an open ended debt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 9 March and will close on 21 March 2012. The scheme re-opens on or before 3 April 2012.
News Source – NAV INDIA.
4.Religare MF Declares Dividend For Religare Fixed Maturity Plan – Series VI – Plan B (370 Days).
Religare Mutual Fund has announced 13 March 2012 has the record date for declaration of dividend in the dividend option of Religare Fixed Maturity Plan – Series VI – Plan B (370 Days), a close ended debt scheme. The quantum of dividend will be entire distributable surplus as on record date.
Further, 13 March 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 13 March 2012.
News Source – INDIA INFOLINE.
5.Reliance MF Declares Dividend For Fixed Horizon Fund.
Reliance Mutual fund has announced 13 March 2012 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend payout option of Reliance Fixed Horizon Fund – XIX – Series 6, Reliance Fixed Horizon Fund – XX – Series 5 and Reliance Fixed Horizon Fund – XX – Series 8.
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