Latest Indian Mutual Fund News | 14-Apr-2012
NEW FUND OFFER
Daiwa Mutual Fund has filed an offered document with SEBI to launch a new close ended income scheme named DAIWA FIXED MATURITY PLAN – Series II – Plans A, B & C, with maturity time from 90 days to 460 days. The New Fund Offer (NFO) price for the scheme was Rs 10 per unit.
According to the offer document filed with SEBI, the entry load was not applicable and since the scheme was planned to be listed on the National 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 the stock exchange mode. The minimum application amount was Rs 5,000 and multiples of Rs 10 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend Payout option.
News Source -Â MONEY REDIFF.
Â Net inflows into gold exchange-traded funds (ETFs) for the financial year 2012 were the highest in the last five financial years as muted returns in most other asset classes and an uncertain outlook for the world economy prompted risk-averse investors to flock to the yellow metal.
Net inflows into gold ETFs for FY12 amounted to R3,646 crore, a 59% increase over the R2,289 crore garnered in the previous fiscal, data from industry body Amfi shows. The figure is 43 times more than the amount collected in FY09, the year the global financial crisis shook world markets. Assets under management (AUM) for the category in FY12 have more than doubled over that in the previous fiscal, and multiplied more than 20 times in the past five years.
News Source -Â FINANCIAL EXPRESS.
NEW FUND LAUNCH
Â Reliance Mutual Fund has unveiled a new fund named as Reliance Dual Advantage Fixed Tenure Fund – II – Plan C, a close ended hybrid scheme with the duration of 3 years 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 16 April and close on 30 April 2012.
The scheme seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the scheme along with capital appreciation through equity exposure.
News Source -Â INDIA INFOLINE.
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