Latest Indian Mutual Fund News | 14-July-2012
1.MF officials expect SEBI to hike expense ratio and allow fungibility soon.
Mutual fund CEOs are hoping that SEBI would soon hike total expense ratio (TER) and allow fungibility in usage of this expense corpus which will allow fund houses to manage their expenses efficiently. The quantum of increase in TER has not been decided yet though. Fund houses are currently allowed to charge a maximum of 2.50% as TER on equity funds. The mutual fund advisory committee, comprising 14 members representing investor association, banks, fund houses and media is likely to give its recommendation to SEBI next week based on which a final decision will be taken.
News Source – CAF�-MUTUAL.
NEW FUND LAUNCH
DSP BlackRock Mutual Fund has unveiled a new fund named as DSP BlackRock US Flexible Equity Fund, an open ended fund of funds scheme investing in a US Equity Fund. The face value of the scheme is Rs. 10 per unit. The new issue will be open for subscription from 17th July 2012 and closes on 31st July 2012.
News Source – MUTUAL FUNDS INDIA.
HDFC Mutual Fund has fixed 18 July 2012 as the record date for the purpose of determining the eligible unitholders/beneficial owners holding units (in demat form) of HDFC FMP 92D April 2012 (1)-HDFC Fixed Maturity Plans – Series XXI, a closed-ended income scheme, who would be entitled to the maturity/redemption proceeds on the maturity/final redemption date. The maturity/final redemption date of HDFC FMP 92D April 2012 (1) is on 19 July 2012.
News Source – INDIAINFOLINE.
Market regulator SEBI (Securities and Exchange Board of India) may increase the expense ratio of mutual funds from the current 2.25% with conditions, according to the finance ministry. Mutual funds are allowed to charge various administrative and maintenance expenses annually. A 25 basis points increase in the expense ratio would result in mutual funds' annual income increasing by as much as 11%.
News Source – INDIAINFOLINE.https://www.investmentkit.com/articles/2012/07/latest-indian-mutual-fund-news-14-july-2012/https://www.investmentkit.com/articles/wp-content/uploads/2011/09/news.jpeghttps://www.investmentkit.com/articles/wp-content/uploads/2011/09/news.jpegMutual Fundsdate,DSP BlackRock Mutual Fund,DSP BlackRock US Flexible Equity Fund,equity,equity fund,equity funds,expense ratio,Flexible,fungibility,INDIAINFOLINE,Indian,Mutual,mutual fund,mutual funds,News,quantum,scheme,SebiGENERAL1.MF officials expect SEBI to hike expense ratio and allow fungibility soon.Mutual fund CEOs are hoping that SEBI would soon hike total expense ratio (TER) and allow fungibility in usage of this expense corpus which will allow fund houses to manage their expenses efficiently. The quantum of increase in...Admingkdoda@gmail.comAdministratorInvestmentKit Articles
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