Latest Indian Mutual Fund News | 08-Feb-2013

SEBI / AMFI

1.RGESS NFOs to be open for subscription for 30 days: SEBI

SEBI has extended the new fund offer period for Rajiv Gandhi Equity Savings Scheme (RGESS) to thirty days from the current fifteen days which is applicable to all schemes except ELSS. It has also extended the timeframe for MFs to allot units and issue account statements to RGESS investors to fifteen days from the current requirement of five days. 

As per SEBI rules, the new fund offer period of any scheme (other than ELSS) shall not be more than fifteen days. SEBI rules also require fund houses to allocate units to investors and issue statement of accounts within five working days from the date of closure of NFO. 

News Source – CAF´┐Ż MUTUAL.

 

NEW FUND OFFER

2.Religare MF Launches Religare Fixed Maturity Plan – Series XVII – Plan A

Religare Mutual Fund has launched a new fund named as Religare Fixed Maturity Plan – Series XVII – Plan A (368 Days), a close ended debt scheme. The tenure of the scheme is 368 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 12 February and will close on 13 February 2013. 

The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme. 
The scheme offers growth & dividend payout option. 
The scheme shall invest 60%-100% in debt instruments and up to 40% in money market instruments. 
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 
Entry and exit load charge for the scheme will be nil. The scheme will be listed on the NSE.

News Source – NAV INDIA.

 

 

3.Morgan Stanley MF Launches Gilt Fund

Morgan Stanley Mutual Fund has launched a new fund named as Morgan Stanley Gilt Fund, an open ended gilt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 14 February and closes on 21 February 2013. 



The investment objective of the scheme is to generate returns primarily through investments in sovereign securities issued by the Central Government and/or a State Government or repos/reverse repos in such securities. 
The scheme offers two options viz. growth and dividend quarterly reinvestment and payout option. 
The scheme would allocate 65% to 100% of assets in Securities issued by Central and State Government and Treasury bills with Sovereign risk profile and allocate upto 35% in CBLO, Repo against Government securities with sovereign to low risk profile. 
Entry and exit load charge will not be applicable for the scheme. 
The minimum application amount is Rs 5,000 and in multiple of Rs 1 thereafter. 
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

News Source – NAV INDIA.

 

 

4.DWS Fixed Maturity Plan – Series 28 To 33 Files Offer Document With Sebi

 

Deutsche Mutual Fund has filed offer document with Sebi to launch DWS Fixed Maturity Plan – Series 28 to 33, 1 month – 60 months close ended debt fund. The NFO price will be Rs 10 per unit. 
Investment Objective: The objective of the scheme is to generate income by investing in debt and money market instruments maturing on or before the date of the maturity of the scheme. 
Options: The scheme offers regular option and direct option. Direct Plan is only for investors who purchase /subscribe Units in a Scheme directly with the Fund and is not available for investors who route their investments through a Distributor. 
Dividend (Payout) and Growth are the sub-options offered under the scheme. 

News Source – NAV INDIA.

 

GENERAL

 

5.Pramerica Mutual Fund revises exit load (On Feb 7 , 2013)

Pramerica Mutual Fund has changed the exit load for subsequent switch or redemption from the direct plans in which the investment was made by switch from the regular plan. Initial investment in regular plan made with distributor code- any subsequent switch or redemption from the direct plan will not be subject to any exit load. Initial Investment in regular plan made without distributor code- any subsequent switch or redemption from the direct plan will be subject to applicable exit load from the original date of investment. The changes have been in effect from 1st January 2013.

News Source – MUTUAL FUNDS INDIA.

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