Latest Indian Mutual Fund News | 18-Apr-2012


1.Dynamic bond funds buck sector trend.

 The mutual fund industry’s dynamic bond funds have seen a steep rise in their assets under management over the past three quarters. The active duration management of these funds and their ability to quickly reposition the maturity profile to suit the changing interest rate environment helped performance. During such uncertain times, bond yields have remained volatile at between eight and nine per cent.

For instance, the assets of Birla Sun Life Dynamic Bond Retail Growth almost tripled, while those of IDFC Dynamic Bond and Reliance Dynamic Bond increased 10-fold and by eight times, respectively. Overall, the industry’s assets in the category during the period more than doubled to Rs 10,190 crore as on March 2012 from Rs 4,080 crore in June last year. This happened at a time when the industry’s overall assets declined six per cent. “The way dynamic bond funds have fast-adjusted their maturity profiles and investment portfolios, given the uncertain environment, helped them draw inflows from investors”, says Dhruva Chatterji, senior research analyst at Morningstar India. Many of these have been among the top performers in the bond funds segment in the past year.


2.SEBI sets deadline for uploading KYC details.

The Securities and Exchange Board of India (SEBI) has directed intermediaries to upload KYC (know your client) details of existing clients to a centralised database maintained by KYC registration agencies (KRA). Announcing the timeline for uploading the data, SEBI said, this would remove duplication in the process of collecting KYC details.

In case of mutual funds, MF trustees and the boards of AMCs would be responsible for implementing this circular. For other intermediaries, the respective board of directors would be responsible for implementation, said SEBI.

News Source - BUSINESS LINE.

3.Volatile equities result in higher gold ETF inflows.

Gold exchange-traded funds (ETFs) have managed to record inflows for the past four months and net inflows have almost doubled in March compared with February. In November, when the equity markets witnessed some upside, gold ETFs saw investors pulling out their money more than putting in. The month saw a net outflow of Rs 22 crore.

In December, things improved and flow of funds moved into positive territory to Rs 123 crore. In January, net inflows were Rs 82 crore and in February, it was Rs 85 crore. As per the latest data made available by the Association of Mutual Funds in India (AMFI), in March, net inflows were Rs 231 crore.



4.Reliance MF Floats Reliance Fixed Horizon Fund – XXII – Series 3.

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXII – Series 3, a close ended income scheme with the duration of 141 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs. 10 per unit. The new issue will be open for subscription from 18 April and will close on 23 April 2012. 



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