DIVIDEND

1.LIC Nomura MF Announces Dividend For LIC Nomura MF Fixed Maturity Plan – Series 51.

LIC Nomura Mutual Fund has announced 24 July 2012 as the record date for declaration of dividend on the face value of Rs. 10 per unit under the dividend option of LIC Nomura MF Fixed Maturity Plan – Series 51. The quantum of dividend will be entire distributable surplus as on the record date. The scheme recorded NAV of Rs. 10.1962 per unit as on 12 July 2012.

News Source – INDIAINFOLINE.

 

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

 

UTI Mutual Fund has announced 24 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 – Series II Quarterly Interval Plan IV. The quantum of dividend will be 100% of distributable surplus as on record date. The NAV under retail option of the scheme stood Rs. 10.0521 per unit and Rs. 10.0530 per unit for institutional option as on 17 July 2012.

News Source – INDIAINFOLINE.

 

GENERAL

 

3.Pure arbitrage funds provided highest post tax returns.

 

Pure arbitrage funds generated the highest post-tax returns and outperformed all other mutual fund categories between July 1 last year and June 30 this year. A CRISIL Research analysis of mutual fund performance over the past 12 months revealed that pure arbitrage funds gave the highest post-tax returns outperforming other fund categories. The analysis is based on the performance of eight arbitrage funds.

News Source – THE HINDU – BUSINESS LINE.

 

 

4.More NPS fund managers soon, fee may go up.

 

Giving shape to the recommendations of the committee headed by G.N. Bajpai, former Securities and Exchange Board of India chief, which was set up to discuss ways to increase the popularity of National Pension System (NPS), the Pension Funds Regulatory and Development Authority (PFRDA) has opened its doors to all financial service companies, that are regulated by a financial sector regulator, to become a pension fund manager (PFM) for private sector funds.

News Source – LIVEMINT.

 

 



5.MF equity allocation in banks on the rise.

 

One out of every five rupees of the mutual fund industry's equity assets is being pumped into banking stocks. During the first half of this year, fund managers have scaled up their exposure to banking counters by 345 basis points (bps) to around 19 per cent in June (a basis point is the hundredth part of a percentage point).

News Source – BUSINESS STANDARD.

 

 

6.SEBI allows QFIs to invest $1bn in MF debt schemes.

 

To increase fund flow in the bond market, market regulator SEBI today issued guidelines allowing overseas individual investors to invest up to USD 1 billion in corporate bonds and debt schemes of mutual funds without any lock-in period. This limit shall be over and above the limit of USD 20 billion for FII investment in corporate debt, it added. As per the existing norms, QFIs are allowed to invest in schemes of Indian mutual funds and Indian equity shares by opening a demat account with a qualified Depository Participant (DP). The circular also said that QFI can invest without obtaining prior approval until the aggregate QFI investments reaches 90 per cent of USD 1 billion (i.e. USD 900 million). For fresh purchases by QFIs after this cap, SEBI said, prior approval of the depositories is required to be obtained. The QFI should make such request for prior approval to the concerned depository through the DP specifying therein the name of the QFI, PAN and other unique identification number relating to that QFI, by way of any mode of communication as specified by the depositories in consultation with each other, it said.

News Source – MONEYCONTROL.

 

DIVIDEND

 

1.Peerless Mutual Fund declares dividend under its scheme.

 

Peerless Mutual Fund has declared dividend under the quarterly dividend option of Peerless Income Plus Fund., on the face value of Rs. 10 per unit. The quantum of dividend for distribution will be Rs. 0.18 per unit. The record date for dividend distribution has been fixed as 23rd July 2012.

News Source – MUTUALFUNDSINDIA.

 

GENERAL

 

2.SEBI to impose cap on investments made in sectors in debt funds.

 

The Securities and Exchange Board of India (SEBI) plans to introduce restrictions on the extent of investments a mutual fund debt scheme can make in a sector. The regulator had observed that many debt funds, especially fixed maturity plans (FMPs), were taking huge exposure to specific sectors, raising worries about systemic risk, according to media reports. FMPs are close-ended products with investments in debt and money market instruments. The regulator has noticed that many FMPs had invested around 80% of investments in a particular sector and a single issuer, the reports added.

News Source – INDIAINFOLINE.

Latest Indian Mutual Fund News | 21-July-2012
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