Edelweiss Mutual Fund has declared 1.8000 per cent dividend under dividend payout option scheme named as Edelweiss Absolute Return Fund, on the face value of Rs 10 per unit. The record date for the dividend is April 27, 2012. The NAV of scheme as on April 24, 2012 was at Rs 10.81. As on March 31, 2012, the scheme allocated 46.6 per cent in equity, 24.6 per cent in net receivables, 16.4 per cent in CBLO/Reverse Repo and remaining 12.5 per cent in fixed deposits.
News Source -Â MONEY REDIFF.
Several fund houses have introduced exit loads on fixed income mutual fund schemes in April 2012. Fund houses such as SBI, Canara Robeco, Taurus, JP Morgan, Principal have introduced or increased exit loads on early exits by investors. “Funds want to deter the short term investors given the high costs involved in portfolio turnover in fixed income market, given high buy-sell spreads,” says Vikram Dalal, managing director, Synergee Capital.
The debt mutual fund schemes have been doing well for some time now. According to Value Research, an online tracking entity, short term debt funds delivered 2.27% and income funds delivered 2.01% returns in the last three months. The exit load would discourage very short term investments in these schemes as it brings down the net gain to investors.
News Source -Â ECONOMIC TIMES.
Retail investors have flocked to gold ETFs which is evident by the 61% increase in retail gold ETF folios in the last one year. AMFI data shows that retail gold ETF folios went up to 4.59 lakh in March 2012 from 2.86 lakh folios in March 2011, an addition of 1.73 lakh folios. HNI folios in gold ETFs also went up by 3,853 to 10,639 folios in March 2012 from 6,786 folios in March 2011. Assets managed by gold ETFs shot up to Rs 9,886 crore in March 2012 from Rs 4,400 crore in March 2011. However, corporate folios fell by 21,799 to 4,665 in March 2012 from 26,464 folios last year.
News Source -Â CAFE MUTUAL.
Bharti AXA Mutual Fund will become BOI AXA Mutual Fund, with effect from 23 May 2012. Bank of India will acquire 51% stake in the joint venture – 25% stake from Bharti Ventures Ltd. and 26% from AXA Investment Managers Asia Holdings Pvt. Ltd. Now, Bank of India (BOI) will become the Co-sponsor along with the current sponsor – AXA Investment Managers. In effect of this transaction, Bharti Ventures Ltd., the current co-sponsor of Bharti AXA Mutual Fund will exit from the joint venture.
The name of the schemes will be pre-fixed with BOI AXA in place of Bharti AXA. Investors of Bharti AXA Mutual Fund have been given an option of exit from the funds without paying any exit load between 23 April 2012 and 23 May 2012.
News Source -Â INDIA INFOLINE.
NEW FUND LAUNCH
Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXII – Series 7, a close ended income scheme with the duration of 367 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 4 May and will close on 9 May 2012.
The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.
News Source -Â INDIA INFOLINE.