Latest Indian Mutual Fund News | 24-Jan-2013

DIVIDEND

1.Escorts Mutual Fund declares dividend under the schemes

Escorts Mutual Fund has announced dividend under its schemes. Accordingly, the quantum of dividend for distribution on the face value of Rs. 10 per unit will be Rs. 0.11 per unit for Escorts Short Term Debt Fund, Rs. 0.10 per unit for Escorts Income Bond Fund and Rs. 0.092 per unit for Escorts Income Plan. The record date for dividend distribution is 28th January 2013.

News Source – MUTUALFUNDS INDIA.

 

GENERAL

2.TATA Income Plus Fund announces change in load structure

Tata Mutual Fund has announced to revise exit load structure under Tata Income Plus (all plans and options). Accordingly, the revised structure of an exit load of 1% will be charged if units are redeemed or switched out within 365 months from the date of allotment. The revised exit load structure will be effective from 22nd January 2013.

News Source – MUTUALFUNDS INDIA.

 

DIVIDEND

3.HSBC Fixed Term Series 83 declares dividend

HSBC Mutual Fund has declared dividend under the dividend payout option of HSBC Fixed Term Series 83. The record date for dividend is January 28, 2013. The quantum of dividend will be entire distributable surplus on the face value of Rs 10 per unit. 

News Source – INDIAN COMMODITY.

 

4.UTI Fixed Income Interval Fund – Series II -Quarterly Interval Plan – IV

UTI Mutual Fund has announced 28 January 2013 as the record for declaration of dividend under UTI Fixed Income Interval Fund – Series II -Quarterly Interval Plan – IV. The gross dividend will be 100% of distributable surplus as on the record date.



News Source – INDIA INFOLINE

 

GENERAL

5.SEBI comes out with stringent norms for investment advisors

SEBI has notified norms that make it mandatory for investment advisors to register with the capital market regulator and also require them to disclose all issues that could result in conflict of interests, among others. To ensure more transparency, the new regulations require investment advisors – banks, non-banking financial companies (NBFCs) and corporate – would have to segregate their investment advisory services from other activities. 

Investment advisors also have to disclose the fee received for their advice on a particular financial product.

News Source – THE HINDU BUSINESSLINE.

 

6.Mutual funds continue selling

Mutual funds (MFs) sold shares worth a net Rs 234.50 crore on Monday, 21 January 2013, compared with outflow of Rs 332.70 crore on Friday, 18 January 2013. 

The net outflow of Rs 234.50 crore on Monday, 21 January 2013, was a result of gross purchases Rs 522.40 crore and gross sales Rs 756.90 crore. The BSE Sensex had advanced 62.78 points or 0.31% to settle at 20,101.82 on that day, its highest closing level since 6 January 2011. 
Mutual funds have sold shares worth net Rs 2515.90 crore in January 2013 so far (till 21 January 2013). 

News Source – INDIA INFOLINE

 

7.Indiabulls Gilt: Change in Exit Load

India bulls Mutual Fund has announced a complete waiver of exit load for Indiabulls Gilt with effect from January 23, 2013.Till date, a load of 0.25% is charged for redemption of units within 1 month from the date of allotment.

News Source – VALUE RESEARCH ONLINE






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