Latest Indian Mutual Fund News | 15-Mar-2012
NEW FUND OFFER
1.Reliance Mutual fund files an offer document for Reliance US Dollar Fund.
Reliance Mutual Fund has filed an offer document with SEBI to launch an open ended 'fund of fund' called Reliance US Dollar Fund. The investment objective varies with the chosen plan. The debt plan aims to provide regular income and capital appreciation, the equity plan capital appreciation while the money market plan seeks to preserve capital by generating continuous positive returns.
Minimum amount for application is Rs. 10,000 and additional purchases can be in the multiples of Rs. 1000. The switchover facility is available, subject to minimum investment of Rs. 10,000. The scheme will be benchmarked against US Corporate Index (rebased in INR), Russell 1000 Growth (rebased in INR) and S&P/BG Cantor US Treasury Bill Index (rebased in INR) for debt plan, equity plan, money market plan, respectively.
News Source – CAFE MUTUAL.
Religare Mutual Fund has announced 19 March 2012 as the record date for declaration of dividend under the dividend option of Religare Fixed Maturity Plan – Series IX – Plan C (182 Days), a close ended debt scheme. The quantum of dividend will be entire distributable surplus as on the record date.
Further, 19 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, which is 10 March 2012.
News Source – INDIA INFOLINE.
NEW FUND LAUNCH
Edelweiss Mutual Fund has launched a new fund named as Edelweiss Fixed Maturity Plan – Series 5, a close ended income scheme with the duration of 380 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 March and will close on 20 March 2012.
News Source – NAV INDIA.
UTI Mutual Fund has announced 19 March 2012 as the record date for declaration of dividend under UTI – Fixed Term Income Fund – Series X – I (252 Days). The quantum of dividend per unit on the face value of Rs 10 per unit will be 100% of distributable surplus as on the record date.
Assets under management of exchange traded funds (ETFs) for Gold in India, the world's biggest consumer of bullion, jumped 161 percent to 97.95 billion rupees from a year earlier on brisk demand, data from the regulator showed on Tuesday. Currently, India has 12 mutual funds offering gold exchange traded funds.
Investment in India's Gold ETF pales when compared with its approximately 700 tonnes of annual gold consumption, but industry players suggest ETF holdings could rise by at least 50 percent from a year earlier in the short term.
News Source – MONEY CONTROL.
3.Indiabulls Fixed Maturity Plan 387 Days March 2012 (1) extents NFO closing date.
Indiabulls Mutual Fund has announced that the closing date of the New Fund Offer of Indiabulls Fixed Maturity Plan 387 Days March 2012 (1), a close-ended debt scheme has been extended from 13 March 2012 to 14 March 2012.
UTI Mutual Fund and CNBC -TV18 honored the best financial advisors from across the Country at the 'Financial Advisor Awards 2011-12' which was recently held in Mumbai. These awards were presented in recognition of the contribution of the financial advisors, in creating and preserving sustainable wealth and also distributing expert and productive financial advice. Mr. SB Mathur, Former LIC Chairman-Secretary General, Life Insurance Council and Mr. HN Sinor, Chief Executive, AMFI were the Chief Guests at the event.
NEW FUND LAUNCH
5.Religare MF Launches Religare Fixed Maturity Plan – Series XIII – Plan E.
Religare Mutual Fund has launched a new fund named as Religare Fixed Maturity Plan – Series XIII – Plan E (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 be open for subscription from 14 March and will close on 20 March 2012.
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