mutual fund newsDIVIDEND

1.Taurus FMP Series-L announces dividend.

Taurus Mutual Fund has announced 28 March 2012 as the record date for declaration of dividend under the dividend option of Taurus FMP Series-L (91 days close ended debt scheme). The quantum of dividend will be 100% of distributable surplus as on the record date on the face value of Rs 10 per unit.

News Source - INDIA INFOLINE.

2.Taurus Mutual Fund announces dividend under three Fixed Maturity Plans.

Taurus Mutual Fund has announced 29 March 2012 as the record date for declaration of dividend under the dividend options of Taurus Fixed Maturity Plan Series-G (370 days close ended debt scheme), Taurus Fixed Maturity Plan Series-M (370 days close ended debt scheme) and Taurus Fixed Maturity Plan Series-N (91 days close ended scheme). The quantum of dividend under each scheme will be 100% of distributable surplus as on the record date on the face value of Rs 10 per unit.

News Source - NAV INDIA.

GENERAL

3.MF houses line up FMPs to cash in on tight liquidity.

Mutual fund houses are rushing to launch fixed maturity plans (FMPs) to take advantage of tight liquidity and high short-term rates. About 34 different FMP schemes are currently open for subscription, of which 15 schemes have a tenure of one year and 11 have maturities exceeding a year, according to data available on the Value Research website. What’s more? About nine fund houses have filed with market regulator SEBI this month to launch FMPs. 

One-year bank CDs are currently trading at 10.75-10.90% in the market. According to fixed income experts, investors should consider locking in investments at these high rates. “High yields are one of the main attractions for investors right now”, said Killol Pandya, head, fixed income, Daiwa Asset Management.



News Source - FINANCIAL EXPRESS.

4.Regulations must for alternate investment schemes: Finance minister to SEBI.

The unregulated private pool of capital poses a systemic risk and appropriate regulations need to be framed soon for alternative investment funds, Finance Minster Pranab Mukherjee told the market regulator Securities and Exchange Board of India (SEBI) on Saturday.

The finance minister, who addressed the SEBI board on Saturoday in New Delhi, said that financial costs have to be brought down for retail investors and new mutual fund distribution channels have to be formed to enhance penetration. According to the finance minister, investors’ appetite for market-linked insurance, credit and investment products in on the rise. Mukherjee said he has tried to provide an impetus for growth in capital market by lowering transaction costs and incentivising retail participation.

News Source - BUSINESS STANDARD.

NEW FUND LAUNCH

5.JM Financial MF Launches 369 Days Fixed Maturity Plan.

JM Financial Mutual Fund has launched a new fund named as JM Fixed Maturity Fund – Series XXII – Plan A, a close ended income fund offering fixed maturity plans. The duration of the scheme will be 369 days from the date of allotment of units. During the New Fund Offer (NFO) period, units of the scheme will be offered at Rs 10 per unit. The new issue will be open for subscription from 26 March and closes on 27 March 2012.

News Source - INDIA INFOLINE.

Latest Indian Mutual Fund News | 27-Mar-2012
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