Latest Indian Mutual Fund News | 25-July-2012
1.Peerless Mutual Fund to go more local.
Peerless Mutual Fund is looking to widen its vernacular appeal to increase engagement with people in interior India, its Managing Director and Chief Executive Officer, Mr Akshay Gupta, has said. Plans are afoot to design banners and application forms in languages such as Telugu, Tamil and Gujarati. Investors can also reach out to call centers and communicate in these languages for buying the products of the fund house, he said. At present, Peerless Mutual Fund's marketing and communication is centered around Hindi, English, Malayalam and Bengali.
News Source – THE HINDU – BUSINESS LINE.
India has received its first investment through the qualified framework investor (QFI) route, putting an end to doubts that the country's attempt to get investors to buy shares directly will be a non-starter. Kotak Mahindra Bank has concluded the deal worth $5 million for a US-based client, said a finance ministry official.
News Source – ECONOMIC TIMES.
7 out of 44 asset management companies (AMCs) currently offer the facility-two let you view your portfolio by sending an SMS, while others let you transact through your mobile by downloading an application on your phone and using the Internet to carry out a transaction. In case of the latter, you typically get a wider choice of transactions. In both the cases, you have to start by filling up a physical form and registering with the fund house. In most cases you can use the facility only if you are an existing folio holder; however, the registration form has to be filed whether you are an existing customer or not. This is akin to a standing instruction for the AMC to debit (or credit) the specified bank account when you send a purchase (or sell) instruction through your mobile. Also, it identifies the broker code (if used), so the broker's role in the process is automatically recognized.To use the SMS facility, you can use just about any mobile handset that allows you to send an SMS. If you want to invest in a scheme where you have to download an application, a basic Java-enabled phone with an Internet connection will suffice. AMCs that offer this service say that while it lets the investor transact on the move, the idea is not to cut out the distributor. Your initial registration form will have space for you to enter your adviser's distributor code. Distributors can save costs by completing transactions on the phone itself.
News Source – LIVEMINT.
NEW FUND OFFER
JPMorgan Mutual Fund has decided to extend the closing date of the New Fund Offer (NFO) period of JPMorgan India Income Fund – Series 301 (3 years close ended income scheme) and JPMorgan India Income Fund – Series 501 (5 years close ended income scheme). The NFO period of the scheme has been extended from 24 July 2012 to 25 July 2012.
News Source – INDIAINFOLINE.
Reliance Mutual Fund has filed offer document with SEBI to launch Reliance Yearly Interval Fund – Series 11, a debt oriented interval scheme. The New Fund Offer price is Rs 10 per unit. The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the next specified transaction date of the scheme with the objective of limiting interest rate volatility. The scheme offers growth and dividend (payout and reinvestment) option. The scheme shall invest 70% to 100% of assets in money market instruments and upto 100% of assets in government securities & debt instruments. Entry and exit load charge will be nil. The minimum application amount will be Rs. 5,000 and in multiples of Rs 1 thereafter.
News Source – NAVINDIA.
In a bid to improve market integrity and check manipulation, the Securities and Exchange Board of India (SEBI) has hiked the benchmark liquidity level for any scrip to be eligible for trading in the derivatives segments. Now scrips with a minimum trading volume of Rs 10 lakh and market wide position limit (MWPL) or market capitalization of Rs 300 crore would be eligible for entry into the future and options (F&O) segment, SEBI said in a circular.
News Source – FINANCIAL EXPRESS.
Following a renewed demand last month from the Securities and Exchange Board of India (SEBI) to allow it to utilize telephone call records as evidence in insider trading cases, the government has hastened the process of providing the equity markets regulator a green signal. A senior finance ministry official told a high-level meeting called by economic affairs secretary R Gopalan was slated to take place on Wednesday to discuss the issue of adding SEBI to the list of enforcement and investigating agencies allowed to ask the department of telecommunications for emails and call data records from service providers.
News Source – BUSINESS STANDARD.https://www.investmentkit.com/articles/2012/07/latest-indian-mutual-fund-news-25-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 FundsApplication,house,income,India,Interval,investment,JPMorgan India Income Fund,Mutual,mutual fund,New,New Fund Offer,News,NFO,Peerless,Peerless Mutual Fund,phone,Sebi,securities and exchange board of indiaGENERAL1.Peerless Mutual Fund to go more local.Peerless Mutual Fund is looking to widen its vernacular appeal to increase engagement with people in interior India, its Managing Director and Chief Executive Officer, Mr Akshay Gupta, has said. Plans are afoot to design banners and application forms in languages such as...Admin[email protected]AdministratorInvestmentKit Articles
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