NEW FUND OFFER

1.Taurus Fixed Maturity Plan Series X to Z files offer document with Sebi.

 

Taurus Mutual Fund has filed offer document with Sebi to launch Taurus Fixed Maturity Plan Series X to Z, a close-ended debt scheme. The New Fund Offer price is Rs. 10 per unit. Tenure of the scheme(s) will be 30 days to 400 days from the date of allotment of the respective scheme (including the date of allotment). The investment objective of the scheme is to generate income with minimum volatility through investments in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.The investments options available are Growth and dividend. There are no loads and the Minimum Application Amount is Rs. 5000/- and in multiple of Rs. 1/- thereafter. The Fund seeks to collect a minimum of Rs. 20 crore in the New Fund Offer of the respective Scheme(s). The scheme shall invest upto 100% in debt and money market instruments with low to medium risk profile. The Scheme will not invest in Securitized Debt. The Scheme will not: 
A) Make use of Derivatives 
B) Will not engage in Securities Lending 
C) Will not invest in foreign debt securities

News Source – INDIAINFOLINE.

 

DIVIDEND

 

2.Reliance MF declares dividend under 'Reliance Money Manager Fund – Institutional Plan'.

 

Reliance Mutual Fund has declared a dividend of 0.1554 per cent under monthly dividend payout option scheme named as 'Reliance Money Manager Fund – Institutional Plan', on the face value of Rs 1,000 per unit. The record date for the dividend was July 31, 2012. The NAV of scheme as on July 31, 2012 was at Rs 1,010.6043. The investment objective of 'Reliance Money Manager Fund – Institutional Plan', an open ended debt short-term scheme, was to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

News Source – REDIFF MONEY.

 

 

3.Reliance MF announces dividend under 'Reliance Money Manager Fund'.

 

Reliance Mutual Fund has announced a dividend of 0.1488 per cent under monthly dividend payout option scheme named as 'Reliance Money Manager Fund', on the face value of Rs 1,000 per unit. The record date for the dividend was July 31, 2012. The NAV of scheme as on July 31, 2012 was at Rs 1,011.3716. The investment objective of 'Reliance Money Manager Fund', an open ended debt short-term scheme, was to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

News Source – REDIFF MONEY.

 



 

4.UTI MF Declares Dividend Under Two Schemes.

 

UTI Mutual Fund has announced 7 August 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 – Annual Interval Plan I and UTI Fixed Term Income Fund – Series X – V (369 Days). The quantum of dividend will be 100% of distributable surplus as on the record date. UTI Fixed Income Interval Fund – Annual Interval Plan has the investment objective is to generate regular income by investing in debt / money market instruments and government securities having suitable maturity. UTI Fixed Term Income Fund – Series X – V (369 Days) has the investment objective is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.

News Source – INDIAINFOLINE.

 

 

5.Axis Long Term Equity Fund Announces Dividend.

 

Axis Mutual Fund has announced 7 August 2012 as the record date for declaration of dividend on the face value of Rs. 10 per unit under the dividend option of Axis Long Term Equity Fund, an open ended equity linked savings scheme. The quantum of dividend will be Rs. 0.80 per unit as on the record date. The scheme recorded NAV of Rs. 11.7591 per unit as on 31 July 2012.

News Source – INDIAINFOLINE.

 

GENERAL

 

6.SEBI MF Advisory Committee wants lower expense for direct investors.

 

The SEBI Mutual Fund Advisory Committee is said to have suggested SEBI to introduce a separate share class structure for direct investors. The committee is also believed to have recommended SEBI that AMCs should charge a uniform fee for both retail and institutional plans. Currently, a majority of the inflows in mutual funds business comes through distribution channels – IFAs, banks, NDs and fund platforms. In the equity category, 7%-8% investors come directly into equity funds. However, in the liquid funds category, industry experts say that direct investments from banks and corporates account for a substantial chunk of the inflows. Charging less will obviously benefit direct investors who could hope for slightly higher returns due to lower costs. To implement this measure, AMCs might have to publish two different NAVs – one for direct and one for investments that have come through distributors. While lower charges would benefit direct investors, it would mean a hit on AMCs revenues.

News Source – CAFEMUTUAL.

Latest Indian Mutual Fund News | 03-Aug-2012
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