DIVIDEND

1.Tata MF declares dividend for 'Tata Floater Fund'.

Tata Fund has declared 0.1502 per cent dividend under dividend payout option of scheme named as 'Tata Floater Fund', on the face value of Rs 1000 per unit. The record date for the dividend was August 28. The NAV of scheme as on August 29, 2012 was at Rs 1,008.31.

News Source – REDIFF MONEY.

 

2.Tata MF declares dividend for 'Tata Liquid Fund – High Investment Plan – Dividend Weekly'.

Tata Fund has declared 0.1502 per cent dividend under dividend payout option of scheme named as 'Tata Liquid Fund – High Investment Plan – Dividend Weekly', on the face value of Rs 1000 per unit. The record date for the dividend was August 28. The NAV of scheme as on August 29, 2012 was at Rs 1,146.78.

News Source – REDIFF MONEY.

 

 

3.UTI-Fixed Income Interval Fund – Series II – Quarterly Interval Plan VI announces dividend.

UTI Mutual fund has announced 5 September 2012 as the record date for declaration of dividend under the dividend option of UTI-Fixed Income Interval Fund – Series II – Quarterly Interval Plan VI. The quantum of dividend will be 100% distributable surplus as on the record date on the face value of Rs. 10 per unit.

News Source – INDIAINFOLINE.

 

GENERAL

 

4.UTI-Fixed Term Income Fund – Series XII – VIII (1098 days) announces change.

UTI Mutual fund has revised the clause II.C.1 titled 'Asset Allocation (% to NAV)' at Page 25 of the Scheme Information Document (SID) of UTI-Fixed Term Income Fund – Series XII – VIII (1098 days). The revised para will be:



Revised Para: The Scheme shall not have exposure in fixed income securities in excess of 30% of the net assets in any sector as per sectoral classification as prescribed by AMFI. However this limit is not applicable for:
1) AAA rated instruments of PSU Banks and AAA rated instruments of Public Financial Institutions (PFIs), if the investment in respect of the above mentioned 30% limit is in securities of NBFC (issuer), the issuer NBFC being rated AAA (Long term) and A1+ (Short term).
2) Collateralized Borrowing and Lending Obligations (CBLO)
3) Certificate of Deposits issued by Banks
4) Government Securities
Investor who has applied for units under the subject scheme till August 30, 2012 and do not wish to continue in the Scheme, in view of the change in the Sectoral allocation, he/she may send a communication in this regard before the closure of the New Fund Offer period viz., September 4, 2012. Investors, who have already exercised such option, will be refunded with the application money, as per the provisions of the scheme mentioned at page 47 of SID. All other features of the UTI-Fixed Term Income Fund – Series XII – VIII (1098 days) remain unchanged.

News Source – INDIAINFOLINE.

 

GENERAL

 

5.AMFI forms committee to draft white paper on retirement funds.

AMFI is believed to have set up a committee to draft a white paper which will outline a plan to form a mandated retirement fund structure in the mutual fund industry, said two people familiar with the development. The committee is likely to give its recommendations on drafting pension funds in the next few months. Currently there are only two retirement products with tax benefits in the mutual fund industry. UTI MF launched its Retirement Benefit Pension Fund in 1994. It manages Rs 827 crore as on August 2012 and has 5, 15,005 investors. Templeton India Pension Plan launched in 1997 manages Rs 219 crore. These funds have tax benefits for investments up to Rs 1 lakh under section 80 C of the Income Tax Act. Recently Reliance MF has filed an offer document with SEBI for an open-ended notified tax savings cum pension scheme called Reliance Retirement Fund. Other fund houses too are planning to file offer documents of similar funds with tax advantages. The committee is likely to suggest tax measures which are over and above 80 C in order to make MF pension funds attractive. 'They'll try to create a 401 k equivalent structure in India. The idea is to attract mandated vehicle to attract savings in a mutual fund structure. Today we don't have that in India,' says a sales head of a bank sponsored fund house.

News Source – CAFEMUTUAL.

 

NEW FUND LAUNCH

 

6.Reliance MF launches 'Reliance Fixed Horizon Fund – XXII – Series 25'; NFO to close on Sept 5.

Reliance Mutual Fund launched a new close ended income scheme named 'Reliance Fixed Horizon Fund – XXII – Series 25,' with maturity time of 368 days. The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription today and will close on September 5. According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount was Rs 5,000 and in multiple of Re 1 thereafter. The two options available under the Plan of the Scheme viz. Growth and Dividend option only. The performance of the scheme will be standardized against Crisil Short Term Bond Fund Index and Amit Tripathi will be the Fund Manager of the scheme.

News Source – REDIFF MONEY.

 

7.UTI MF launches 'UTI-FTIF Series-XII Plan VIII (1098 Days)'; NFO to close on Sept 4.

UTI Mutual Fund launched a new close ended income scheme named 'UTI-FTIF Series-XII Plan VIII (1098 Days),' with maturity time of 1098 days. The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription was August 27 and will close on September 4. According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount was Rs 5,000 in growth option, while Rs 10000 in other options.

News Source – REDIFF MONEY.
Latest Indian Mutual Fund News | 01-Sep-2012
Rate this post