small; color: rgb(0, 0, 0); “>GENERAL

1.MF houses to get more leeway for reaching out to Bharat.

 



The Securities and Exchange Board of India (Sebi) is considering offering incentives to asset management companies (AMCs) that increase their reach beyond the top cities. The move is aimed at increasing the spread and fund flows from smaller cities, where penetration is currently very low. If a fund house is able to spread its reach and get a new set of investors into their equity schemes from Tier-II and Tier-III cities, the market regulator might allow it to charge an expense ratio of up to 50 basis points over-and-above the permitted limit, said people familiar with the development. Following a meeting with the mutual fund advisory committee earlier this week, the regulator is also likely to increase the maximum expense that a fund can charge by 25 basis points to 2.75 per cent. An announcement in this regard is likely in the next few weeks from Sebi. Expense ratio is the percentage of an investor's corpus that an AMC deducts annually to meet its various expenses.

News Source – BUSINESS STANDARD.

 

 

2.RGESS may be available only for PSUs, large caps.

 

The tax-saver Rajiv Gandhi Equity Scheme intends to allow investments in Maharatna, Navaratna and Miniratna shares, besides in top 100 shares on the BSE and the NSE. These are part of the draft guidelines approved by the Department of Economic Affairs.

News Source – THE HINDU – BUSINESS LINE.

READ  Latest Indian Mutual Fund News | 26-July-2013

 

DIVIDEND

 

1.Reliance MF declares dividend under 'Reliance Floating Rate Fund – Short Term Plan'.

 

Reliance Mutual Fund has declared a dividend of 0.1876 per cent under weekly dividend payout option scheme named as 'Reliance Floating Rate Fund – Short Term Plan', on the face value of Rs 10 per unit. The record date for the dividend was July 17, 2012. The NAV of scheme as on July 18, 2012 was at Rs 10.0863. The investment objective of 'Reliance Floating Rate Fund – Short Term Plan', an open ended debt short-term scheme, was to generate regular income through investment in a portfolio comprising substantially of floating rate debt securities including floating rate securitized debt, money market instruments and fixed rate debt instruments swapped for floating rate returns).

News Source – REDIFF MONEY.

 

 

2.JP Morgan MF declares dividend under 'JPMorgan India Treasury Fund – Super Institutional Plan'.

 

JP Morgan Mutual Fund has declared a dividend of 0.1616 per cent under monthly dividend payout option scheme named as 'JPMorgan India Treasury Fund – Super Institutional Plan', on the face value of Rs 10 per unit. The record date for the dividend was July 17, 2012. The NAV of scheme as on July 18, 2012 was at Rs 10.0732. The investment objective of 'JPMorgan India Treasury Fund – Super Institutional Plan, an open ended liquid fund scheme, was to provide liquidity and optimal returns to the investors by investing primarily in a mix of short-term debt and money market instruments which results in a portfolio having marginally higher maturity and moderately higher credit risk as compared to a liquid fund, at the same time maintaining a balance between safety and liquidity.

READ  Latest Indian Mutual Fund News | 29-Dec-2012

News Source – REDIFF MONEY.

 

 

3.UTI MF Declares Dividend For Fixed Income Interval Fund.

 

UTI Mutual Fund has announced 25 July 2012 as the record date for declaration of dividend on the face value of Rs. 10 per unit under the dividend option of UTI Fixed Income Interval Fund – Monthly Interval Plan I. The quantum of dividend will be 100% of distributable surplus as on record date. The NAV under retail option of the scheme stood Rs. 10.0568 per unit and Rs. 10.0621 per unit for institutional option as on 18 July 2012.

News Source – INDIAINFOLINE.

 

GENERAL

 

4.Peerless MF to change exit load structure of 'Peerless Short Term Fund'.

 

Peerless Mutual Fund said it has decided to change in the exit load structure under all options of 'Peerless Short Term Fund', with effective from 23 July 2012. Under the new exit load structure, exit load of 1 per cent will be charged if the fund will be redeemed within 9 months from the date of allotment. Currently, exit load of 0.5 per cent were charged if fund redeemed/switched out within 15 days from the date of allotment. The investment objective of the open ended debt short-term scheme was to generate income and capital appreciation by investing in a diversified portfolio of debt and money market securities.

News Source – REDIFF MONEY.

 

 

5.SEBI relaxes KYD norms for overseas mutual fund distributors.

 

In order to remove the entry barriers for getting foreign investments, market regulator SEBI has done away with know your distributor (KYD) norms for overseas mutual fund distributors. It has also said that overseas mutual fund distributors need not pass the NISM certification for selling mutual funds. SEBI has stated that AMCs are required to ensure that distributors are compliant with extant laws where they operate at the time of empanelling them. SEBI has written to AMFI on July 5, 2012 advising it not to insist on KYD for overseas distributors. However, the overseas distributors have to comply with the extant laws of jurisdictions where they carry out their operations.

READ  Latest Indian Mutual Fund News | 29-Mar-2013

News Source – CAFEMUTUAL.

Latest Indian Mutual Fund News | 21-July-2012
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