Latest Indian Mutual Fund News | 24-July-2012
1.ING MF Declares Dividend Under Dividend Yield Fund.
ING Mutual Fund has announced 26 July 2012 as the record date for declaration of dividend on the face value of Rs. 10 per unit under the dividend option of ING Dividend Yield Fund. The quantum of dividend will be Rs. 15.53 per unit as on the record date. The scheme recorded NAV of Rs. 1.50 per unit as on 19 July 2012.
News Source – INDIAINFOLINE.
At a time when Indian fund houses step up their demand for incentives and higher expense ratio in a bid to expand their reach, their dependence on the top five cities continued in the June quarter. During the first quarter of the current financial year, top metros contributed 2.5 per cent more to the industry's consolidated assets under management (AUM) at 73.66 per cent, against 71.12 per cent in the January-March quarter.
News Source – BUSINESS STANDARD.
Fundsupermart.com, the online-only mutual fund investment platform, has launched a flexible systematic investment plan across the spectrum of mutual funds. The Flexi SIP method of investing is similar to the SIP method in that the investments are made periodically into a mutual fund over a specified period. The value addition in the new variant is that investors can alter the monthly amount to be invested without the hassle of a fresh ECS bank mandate. Investors will be required to simply choose the funds of their choice, the amount to go into each fund, the convenient dates and the maximum ECS limit. A debit mandate will be used to make the monthly deductions. Within this limit, the investor can alter the amount going into each fund. The entire product has been designed keeping investor convenience in mind.
News Source – MY IRIS.
NEW FUND LAUNCH
Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXII – Series 16, a close ended income scheme with the duration of 366 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs. 10 per unit. The new issue will be open for subscription from 27 July and will close on 2 August 2012. Reliance Fixed Horizon Fund – XXII – Series 16 will allocate 40% to 100% of assets in Money Market Instruments with low risk profile. On the other side it would allocate upto 60% of assets in Government Securities & debt instruments with low to medium risk profile. 95% to 100% of net assets would be invested in AAA/A1+ rated certificate of deposits and upto 5% of net assets would be invested in CBLO / Reverse Repos (Repos not including repo in corporate bonds) / Government securities / T-Bills. The minimum application amount is Rs. 5000 and in multiples of Rs. 1 thereafter. The fund seeks to collect a minimum subscription (minimum target) amount of Rs. 20 crore under the scheme during the NFO period. Entry and exit load charge will be nil for the scheme.
News Source – INDIAINFOLINE.
Subscribe Updates, Its FREE!