GENERAL

1.AMFI forms a sub-committee to look at direct plans.

In the recently held AMFI AGM, it was decided that a sub- committee will be formed to look at implementation of the recent SEBI directive to launch direst plans. Many AMCs and advisors express concern about the possible impact of the introduction of direct plans. If required, the sub-committee will approach SEBI with its suggestion on implementation of direct investment. According to the new SEBI rule, AMCs will have to offer a direct plan in their schemes from January 1, 2013. In equity funds, such direct plans could be cheaper than regular funds by 50 -75 basis points. This has left many distributors worried. 'Investment planning and advisory are key components of the investment process. Side stepping the advisory service and investing directly might help investor to save a few basis points but lead to wrong decisions where the final cost may be much higher,' said Ashok Nag, IFA from Pune. Mukul Deshmukh, IFA from Kolkata feels investing requires expertise. 'Most of the Indian investors are not aware about the nitty-gritty of specific funds. So, for them to decide which fund suits their portfolio is difficult. Therefore, investing directly will not help investors to make the correct decisions,' said Mukul.

News Source – CAFEMUTUAL.

 

2.Principal MF to Revise Benchmark Index Under Principal Dividend Yield Fund.

Principal Mutual Fund has approved the change in benchmark index of Principal Dividend Yield Fund (an open ended equity scheme) from S&P CNX 500 Index to CNX Dividend Opportunities Index, with effect from 30 September 2012.

News Source – INDIAINFOLINE.

 

3.BOI AXA Mutual Fund Announces Single Plan Structure for its schemes.

BOI AXA Mutual Fund has announced that all schemes shall have a single plan as per the following details, with effect from 1 October 2012. Accordingly, BOI AXA Equity Fund, BOI AXA Tax Advantage Fund, BOI AXA Regular Return Fund, BOI AXA Short Term Income Fund, BOI AXA Liquid Fund and BOI AXA Treasury Advantage Fund, BOI AXA Regular Return Fund, BOI AXA Short Term Income Fund, BOI AXA Liquid Fund and BOI AXA Treasury Advantage Fund will be offered only in the Regular Plan.

News Source – INDIAINFOLINE.



 

4.Canara Robeco Mutual Fund Announces Changes Under its schemes.

Canara Robeco Mutual Fund has announced that all schemes shall have a single plan as per the following details, with effect from 1 October 2012. Accordingly, Canara Robeco Liquid, Canara Robeco Treasury Advantage Fund, Canara Robeco Short Term Fund, Canara Robeco Dynamic Bond Fund and Canara Robeco F.O.R.C.E Fund will be offer only Regular Plan. Minimum Application Amount: Rs. 5,000 and in multiples of Re.1 thereafter. Subsequent purchases: Minimum amount of Rs. 1,000 and multiples of Re.1 thereafter.Default Option: Growth. Default Option under dividend: Monthly Dividend Reinvestment option for Canara Robeco Liquid, Canara Robeco Treasury Advantage Fund, Canara Robeco Short Term Fund and Dividend Reinvestment option for Canara Robeco Dynamic Bond Fund and Canara Robeco F.O.R.C.E Fund.

News Source – INDIAINFOLINE.

 

5.Edelweiss MF Announces Single Plan Structure for its Schemes.

Edelweiss Mutual Fund has announced that the following schemes of the fund with multiple plans (i.e. retail, institutional, super – institutional, etc.) will accept fresh inflows (i.e. additional subscriptions, SIP, Switch-ins, STP, Prepaid SIP etc) under only one plan (including the options there under), as specified below: Edelweiss Liquid Fund will accept inflows only under Super Institutional Plan, Edelweiss Ultra Short Term Bond Fund under Institutional Plan, Edelweiss Short Term Income Fund under Retail Plan, Edelweiss Diversified Growth Equity (Top 100) Fund under Plan A and Edelweiss Equity Enhancer Fund under Plan A. Other plans under the aforementioned schemes will continue only till the existing investors remain invested in such plans. The revised minimum application amount under Edelweiss Liquid Fund will be Rs. 10,000 and in multiples of Rs. 1 thereafter. Minimum additional application amount under the scheme will be Rs. 1000 and in multiples of Rs. 1 thereafter. The revised minimum application amount under Edelweiss Ultra Short Term Bond Fund will be Rs. 5,000 and in multiples of Rs. 1 thereafter. Minimum additional application amount under the scheme will be Rs. 1000 and in multiples of Rs. 1 thereafter. The changes will be effective from 1 October 2012.

News Source – INDIAINFOLINE.

 

6.Peerless MF Announces Changes under Liquid and Ultra Short Term Fund.

Peerless Mutual Fund has announced that fresh subscriptions / additional purchases / switch – in etc. will only be accepted under Peerless Liquid Fund – Super Institutional Plan and Peerless Ultra Short Term Fund – Super Institutional Plan. Fresh subscriptions / additional purchases / switch – in etc. shall not be accepted under Peerless Liquid Fund -Institutional Plan and Peerless Liquid Fund – Retail Plan with effect from 1 October 2012. Fresh subscriptions / additional purchases / switch – in etc. shall not be accepted under Peerless Ultra Short Term Fund – Retail Plan with effect from 1 October 2012. However these plans under the schemes shall continue till such time existing investors remain invested in the plan. Minimum application amount will be Rs. 1000 and in multiples of Rs. 1 thereafter for Peerless Liquid Fund, Peerless Ultra Short Term Fund and Peerless MF Child Plan. Additional purchases will be in multiples of Rs. 1 for Peerless Liquid Fund, Peerless Ultra Short Term Fund and Peerless MF Child Plan.

News Source – INDIAINFOLINE.

Latest Indian Mutual Fund News | 01-Oct-2012
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