Latest Indian Mutual Fund News | 01-July-2012
'Socialising' with the masses is increasingly becoming a new mantra for Indian mutual fund houses, which have been struggling hard to increase penetration of their products. No wonder, several of these houses are now aggressively active on social networking websites � Facebook and Twitter. Industry officials, excited about their initiative, say engaging masses with mutual funds as an investment concept is helping them reach out to existing as well as prospective investors.With rising internet penetration and internet on-the-go on mobile phones, fund houses do not want to get late in benefiting out of the technology boom.
News Source – BUSINESS STANDARD
There is good news for the mutual funds industry. The equity new fund offering (NFO), which went out of vogue over the last couple of years, seems to have caught the attention of retail investors. If assets garnered by the latest equity NFO from Axis Mutual Fund is anything to go by, this could be a signal that retail investors have started looking at investment in equity markets, though still cautiously. The NFO of the fund, named Axis Focused 25 Fund and launched on June 12, closed early this week. Karan Datta, national sales head at Axis MF, says, 'The issue has garnered close to Rs 250 crore and it is all retail money with around 16,000 folios'.
News Source – BUSINESS STANDARD
The finance ministry and capital market watchdog Sebi will think of ways to revive the fortunes of the mutual fund industry by making the incentive structure more attractive for distributors. The ministry will meet industry representatives and Sebi officials on Monday before drawing up a plan to give a leg up to the industry that is faced with steady outflows, partly due to disinterested distributors.
News Source – ECONOMIC TIMES
Mutual funds (MFs) bought shares worth Rs. 64.20 crore on Wednesday, 27 June 2012, compared with outflow of Rs. 321.90 crore on Tuesday, 26 June 2012. The net inflow of Rs. 64.20 crore on Wednesday, 27 June 2012, was a result of gross purchases Rs. 382.80 crore and gross sales Rs. 318.60 crore. The BSE Sensex had advanced 61.18 points or 0.36% to settle at 16,967.76 on that day, its highest closing level since 22 June 2012.
News Source – INDIAINFOLINE
The Finance Ministry may advise the Securities and Exchange Board of India (SEBI) to consider measures including re-introduction of entry load to bail out the mutual fund industry. The Mutual Fund Advisory Committee of SEBI is scheduled to meet on July 17. However, experts feel that rather than bringing back entry load, the effort should be to allow mutual funds to launch pension schemes. At the same time, the Rajiv Gandhi Equity Scheme should be routed through mutual funds, they suggested.
News Source – THE HINDU-BUSINESS LINE
Franklin Templeton Mutual Fund has declared dividend for Short Term Income Plan- Retail Plan , Govt Sec Fund – Composite Plan, Income Builder Account – Plan A & B, Corporate Bond Opportunities Fund, Income Fund, Income Opportunities Fund. The record date for dividend is Jun 29, 2012.
News Source – LIVEMINT.
DSP BlackRock Mutual Fund has announced 3 July 2012 as the record date for declaration of dividend in the dividend payout option of DSP BlackRock FMP – 12M – Series 24, a close ended income scheme. The quantum of dividend will be up to 100% of distributable surplus as on record date on the face value of Rs. 10 per unit. The scheme will mature on 3 July 2012.
News Source – INDIA INFOLINE.
NEW FUND LAUNCH
ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan � Series 64 – 367 Days Plan G, a close ended debt scheme. The tenure of the scheme is 367 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 2 July and will close on 5 July 2012.
News Source – NAVINDIA.
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