Latest Indian Mutual Fund News | 17-July-2012


1.Franklin Templeton announces dividend.

Franklin Templeton Investments (India) has announced a dividend of Re 0.50 per unit in its open-ended fund of funds scheme – FT India Dynamic PE Ratio Fund of Funds. Record date for the dividend is July 20 and any purchases on or before this date will be eligible for the dividend.





2.RGESS norms to come by July end.


The Finance Ministry is likely to come out with details of the Rajiv Gandhi equity scheme, which is aimed at boosting retail investments in capital market, by the last week of July. 'RGESS norms will come out by last week of July,' a senior finance ministry official said.




3.Sebi asks top 500 cos to provide e-voting.


To widen the participation of shareholders in company decisions, the market regulator Sebi today asked top 500 listed firms to provide e-voting facility to their shareholders from October onwards. The regulator said it has been the endeavour of the government to provide wider participation of shareholders in decisions of companies through electronic voting (e-voting) process.





4.Reliance MF to launch mega fund.


Reliance Mutual Fund is planning to launch a mammoth infrastructure debt fund (IDF), each unit of which would be priced Rs 10 lakh. Targeted primarily at the long-term funds of super-rich individuals, foreign institutional investors, local institutions and corporate investors, the scheme will not accept investments below Rs 1 crore.




5.DSP BR MF launches DSP BlackRock US Flexible Equity Fund.


DSP BlackRock Mutual Fund has launched a new equity oriented open ended scheme named DSP BlackRock US Flexible Equity Fund. The investment objective of this scheme is seek capital appreciation by investing predominantly in units of BlackRock Global Funds US Flexible Equity Fund. The New Fund Offer (NFO) will open for subscription on July 17, 2012 and will close on July 31, 2012. The NFO is priced at Rs 10 per unit and will be available in growth option and dividend (payout and reinvest) option.

News Source – MONEY CONTROL.



6.Reliance Dual Advantage Fixed Tenure Fund – II – Plan E Floats On.


Reliance Mutual Fund has unveiled a new fund named as Reliance Dual Advantage Fixed Tenure Fund – II – Plan E, 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 17 July and close on 31 July 2012.




7.UTI MF Launches UTI – Fixed Term Income Fund – Series XII – VI (366 Days).


UTI Mutual Fund has launched a new fund named as UTI – Fixed Term Income Fund – Series XII – VI (366 Days), a close ended income scheme. The duration of the scheme is 366 days from the date of allotment and will mature on 25 July 2013. The New Fund Offer (NFO) price for the schemes is Rs. 10 per unit. The new issue will be open for subscription from 16 July and will close on 23 July 2012.






1.Indiabulls MF Revises Exit Load Structure Of Indiabulls Ultra Short Term Fund.


Indiabulls Mutual Fund has decided to revise the exit load structure of Indiabulls Ultra Short Term Fund, an open ended debt scheme with effect from July 11, 2012. Accordingly, no exit load charge is applicable for the scheme. The investment objective of the scheme is to provide liquidity with returns commensurate with low risk through a portfolio of money market and debt securities.




2.PFRDA relaxes norms to attract wider participation from fund managers.


The Pension Fund Regulatory and Development Authority (PFRDA) on Thursday issued new set of guidelines to boost the National Pension System (NPS). The new eligibility criteria recommended by G N Bajpai Committee are:
a) There will be no bidding process for appointment of fund managers. There will not be any cap to number of pension fund managers (PFMs) managing the retirement corpus under non-government and private sector segment.
b) Any eligible company can undertake the business of fund management under the NPS.
c) PFMs have been given the freedom to fix their own fees subject to an overall ceiling laid down by PFRDA. Earlier, the fund managers charged a uniform fee.
d) Fund managers are also free to set up their own marketing and distribution channel in order to attract potential subscribers. 
NPS was initiated by the government for public on May 1, 2009. But it failed to attract popularity among the citizens. Currently, it has 50,000 individuals (other than the central government employees for whom it is now mandatory) from over a 400 million workforce. PFRDA had set up the Bajpai committee in August 2010 to do an in-depth study on the drawbacks of the scheme and recommend measures to fast-track and popularize the retirement scheme for individuals, including those in the informal sector under NPS.

News Source – CAFEMUTUAL.



3.HDFC MF To Revise Fundamental Attributes Under HDFC Mid-Cap Opportunities Fund.


HDFC Mutual Fund has announced the revision of fundamental attributes for HDFC Mid-Cap Opportunities Fund, an open ended equity scheme. The changes will be effective from 24 August 2012. Revised Asset Allocation Pattern: The scheme would allocate 0% to 15% in Small-Cap companies and 75% to 100% in Mid-Cap companies with high risk profile. The Notice period of this exit option shall commence from 23 July 2012 and conclude on 23 August 2012.


Latest Indian Mutual Fund News | 17-July-2012
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