Latest Indian Mutual Fund News | 17-Jan-2013

NEW FUND OFFER

1.JPMorgan MF introduces India Fixed Maturity Plan – Series 14

JPMorgan Mutual Fund has launched the New Fund Offer (NFO) of JPMorgan India Fixed Maturity Plan – Series 14, a close ended income scheme. The NFO opens for subscription on January 16, 2013 and closes on January 24, 2013. The minimum subscription amount is Rs 5000.

News Source – INDIAN COMMODITY

 

DIVIDEND

 

2.Religare Mutual Fund declares dividend under FMP – Series XI – Plan C

Religare Mutual Fund has declared dividend under the dividend option of Religare Fixed Maturity Plan – Series XI – Plan C (13 months). The record date for dividend is January 21, 2013. The amount of dividend will be the entire distributable surplus as on the record date on the face value of Rs 10 per unit.

News Source – INDIAN COMMODITY

 

 

3.L&T Fixed Maturity Plan-Series VI-Plan F declares dividend

L&T Fixed Maturity Plan-Series VI-Plan F has declared dividend under L&T Fixed Maturity Plan-Series VI-Plan F. The record date for dividend is January 21, 2013. The quantum of dividend will be entire distributable surplus as on the record date on the face value of Rs 10 per unit. The scheme would mature on January 21, 2013 and accordingly, units shall be suspended from trading on the NSE where it is listed.



News Source – INDIAN COMMODITY

 

 

4.UTI-Fixed Term Income Fund – Series X – VI (368 days) announces dividend

UTI Mutual Fund has announced 21 January 2013 as the record date for declaration of dividend under the retail option of UTI-Fixed Term Income Fund – Series X – VI (368 days). The gross dividend per unit will be 100% of distributable surplus as on the record date on the face value of Rs. 10 per unit.

News Source – NAVINDIA

 

GENERAL

5.New mutual fund distributors to get free ARN registration for five months

Registration fee of Rs 3000 waived off for distributors empanelling with AMFI between February and June. AMFI has decided to waive off the registration fee of Rs 3000 for first �time distributors between 1st February and 30th June in a bid to attract more distributors to the mutual fund fold. This move of AMFI is in line with SEBI�s September circular to take certain steps to re-energize the distribution business. SEBI had mentioned in its September circular that it will allow a new cadre of distributors to enter the mutual fund industry for boosting the distribution space. So, AMFI has also waived off the registration fee for all new distributors who register themselves between February and June. We have created a window to increase the distribution network by 3 folds, says V Ramesh, Deputy CEO, AMFI. Currently, 49000 KYD compliant distributors are registered with AMFI. This move by AMFI will remove an entry barrier and help AMCs sign up new distributors in semi-urban locations to promote and sell mutual funds. The mutual fund association is also looking at other initiatives to promote mutual fund business in B-15 cities.

News Source – CAFEMUTUAL

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