DIVIDEND

1.UTI Fixed Income Interval Fund – Series II Quarterly Interval Plan VII announces dividend.

UTI Mutual Fund has announced 8 October 2012 as the record date for declaration of dividend under the dividend option of UTI Fixed Income Interval Fund – Series II Quarterly Interval Plan VII. The gross dividend will be 100% of distributable surplus as on record date on the face value of Rs. 10 per unit.

News Source – INDIAINFOLINE.

 

GENERAL

2.Baroda Pioneer AMC ties-up with Karvy to expand investor services.

Baroda Pioneer Asset Management Company has tied up with Karvy Computershare Investor Service Centers to provide Investor Services facility at additional 126 facilities. The fund house is actively accepting transactions at 77 locations currently, taking the total number of such facilities to 203.

News Source – THE HINDU – BUSINESS LINE.

 

3.Principal MF changes 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 September 30, 2012.

News Source – INDIAN COMMODITY.

 

4.SEBI gives MFs time till October 31st for discontinuing SIPs, STPs under single plan structure.

SEBI has acceded to AMFI's request to allow fund houses to implement discontinuance of existing SIPs, STPs and dividend reinvestments under schemes which run separate plans for retail and institutional clients from November 01, 2012 instead of 01 October, 2012. As per SEBI's September 16, 2012 circular, AMCs are supposed to accept subscriptions only in one plan – either retail or institutional from 01 October 2012. The AMC has a choice to choose which plan they wish to continue. Take for instance, an AMC wants to accept subscriptions only under institutional plan. Thus, the retail plan needs to stop accepting fresh money or add units from 1st October. However, the retail plan could have existing SIPs, STPs and dividend reinvestment mandates from investors. In this case, AMCs need to discontinue such SIPs, STPs and dividend reinvestments which would add units. However, implementing this rule was a tall order for AMCs in such a short span of time. Institutional plans usually have a higher minimum application size. Thus, retail investors are not be able to invest in such schemes. In case an AMC wants to discontinue retail plan, they may lower the minimum investment size of institutional plan in a bid to attract retail investors. From today onwards, AMCs have stopped accepting fresh subscriptions under the plans which they want to discontinue. These plans will never accept fresh inflows till the last investor redeems. These schemes would cease to exist thereafter. Now AMCs have one month's time to inform all their investors about the new rule.

News Source – CAFEMUTUAL.

 

5.Edelweiss Mutual Fund announces changes.

Edelweiss Mutual Fund has announced that with reference to our notice cum addendum dated September 29, 2012, Investors/Unit holders are requested to note that, under Section F – 'Subscriptions under Single Plan', all investments through Dividend Reinvestment, Dividend Sweep (In), Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) and other facilities such as Prepaid SIP (in) etc., registered before October 1, 2012, shall continue to be processed in the respective discontinued Plans till October 31, 2012. With effect from November 1, 2012, all existing SIP, STP (In), Prepaid SIP (In) and Dividend Sweep (In) will be processed under the corresponding option under the 'Single/Default Plan' of the respective Schemes. All other features and terms and conditions of the Schemes as mentioned in the SID & KIM will remain unchanged.

News Source – NAVINDIA.

 

DIVIDEND

6.Peerless Liquid Fund Declares Dividend Under Its Monthly Dividend Options.

Peerless Mutual Fund has declared dividend under the Monthly Dividend Option for Retail & Super Institutional Plan of Peerless Liquid Fund (an open ended Liquid scheme). The record date for dividend was 28 September 2012. he gross dividend was Rs. 0.0552 per unit for Retail Plan and Rs.0.0681 per unit for Super Institutional Plan for the respective Monthly Dividend Option, as on the record date. Dividend is being declared on the face value of Rs.10 per unit. The Ex- Dividend NAV of Peerless Liquid Fund – Monthly Dividend option as on 28 September 2012, is Rs.10.0010 under Retail Plan & Rs.10.0011 under Super Institutional Plan, after considering the Dividend Payout and statutory levies, if any.



News Source – NAVINDIA.

 

7.Peerless Income Plus Fund Declares Dividend Under Its Monthly Dividend Option.

Peerless Mutual Fund has declared dividend under the monthly Dividend Option of Peerless Income Plus Fund (an open ended debt scheme). The record date for dividend was 28 September 2012. The gross dividend was Rs. 0.0700 per unit for Monthly Dividend Option as on the record date, net of which will be tax free in the hands of investors. Dividend is being declared on the face value of Rs.10 per unit. The Ex-Dividend NAV of Peerless Income Plus Fund – Monthly Dividend option as on 28 September 2012, is Rs. 10.3702, after considering the Dividend Payout and statutory levies, if any.

News Source – NAVINDIA.

 

8.Peerless Ultra Short Term Fund Declares Dividend Under Its Monthly Dividend Option.

Peerless Mutual Fund has declared dividend under the Monthly Dividend Option for Retail & Super Institutional Plan of Peerless Ultra Short Term Fund (an open ended debt scheme). The record date for dividend was 28 September 2012. The gross dividend was Rs. 0.0669 per unit for Retail Plan and Rs.0.0775 per unit for Super Institutional Plan for the respective Monthly Dividend Option, as on the record date. Dividend is being declared on the face value of Rs.10 per unit. The Ex- Dividend NAV of Peerless Ultra Short Term Fund – Monthly Dividend option as on 28 September 2012, is Rs.10.0461 under Retail Plan & Rs.10.0601 under Super Institutional Plan, after considering the Dividend Payout and statutory levies, if any.

News Source – NAVINDIA.

 

9.Deutsche MF declares dividend under 'DWS Money Plus Fund'.

Deutsche Mutual Fund has declared 0.2449 per cent dividend under weekly dividend payout option of scheme named as 'DWS Money Plus Fund', on the face value of Rs 10 per unit. The record date for the dividend was September 28. The NAV of scheme as on October 1, 2012 was Rs 10.166.

News Source – SHAREKHAN.

 

10.Deutsche MF declares dividend under monthly payout option.

Deutsche Mutual Fund has declared 0.4405 per cent dividend under monthly dividend payout option of scheme named as 'DWS Premier Bond Fund – Regular Plan', on the face value of Rs 10 per unit. The record date for the dividend was September 28. The NAV of scheme as on October 1, 2012 was Rs 12.9917.

News Source – SHAREKHAN.

 

GENERAL

11.BOI AXA Mutual Fund announces change.

BOI AXA Mutual Fund has announced that pursuant to clarification from SEBI on 28 September 2012 regarding single plan structure across all the schemes and transaction charges, the addendum dated 28 September 2012 stands partially modified as follows:

Single plan structure across all the schemes:
Revised provision: The existing SIPs/switch-in(s)/STP/Dividend reinvestments or any other corporate actions in any of the discontinued plan will be continued in the retained plans of the respective scheme with effect from 1 November 2012.

News Source – INDIAINFOLINE.

 

12.Financial regulators to be merged in single agency: FSLRC.

The Financial Sector Legislative Reforms Commission (FSLRC)-a government-appointed panel-on 1st October said that major regulators in the country such as SEBI (Securities and Exchange Board of India), IRDA (Insurance Regulatory and Development Authority), Pension Fund Regulatory and Development Authority (PFRDA) and Forward Markets Commission (FMC) should be merged into a unified financial agency (UFA), according to media reports. The FSLRC was constituted by Ministry of Finance in March, 2011. The setting up of the FSLRC was the result of a felt need that the legal and institutional structures of the financial sector in India need to be reviewed and recast in tune with the contemporary requirements of the sector. The FSLRC has also proposed to set up a financial redressal agency (FRA) to address consumer complaints against companies across the financial sector. The Approach Paper, on which the Commission will seek comments from the stakeholders, underlined the need for establishing an independent debt management office (DMO) and a financial sector appellate tribunal to hear appeals against regulators, the reports added. According to the current system, the financial sector is regulated by eight agencies. This includes RBI, SEBI, IRDA, PFRDA, FMC, Securities Appellate Tribunal (SAT), deposit insurance agency DICGC and Financial Sector Development Council (FSDC). According to the proposal, there would be five new agencies besides RBI and FSDC. The new ones would be UFA, FSAT, FRA, DMO and Resolution Corporation, the reports said.

News Source – INDIAINFOLINE.

Latest Indian Mutual Fund News | 04-Oct-2012
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