Latest Indian Mutual Fund News | 21-Feb-2013


1.SEBI approves first Indian social venture fund

The Incube Connect Fund has become the first social venture fund to be approved under the Securities and Exchange Board of India's (SEBI) new registration regulations.

Incube Connect Fund was launched by Ahmedabad-based Incube Ventures Pvt. Ltd, which claims to be the country's first social venture fund company.
The fund-worth Rs. 2 billion-will look to invest and incubate ventures that will have social relevance across various sectors. It will primarily focus on four sectors: healthcare, vocational education, clean energy and sustainable rural businesses.
The fund is registered an alternative investment fund (AIF), a regulatory classification introduced by SEBI last year to replace venture capital funds (VCF) and improve oversight of private equity, real estate and hedge fund investors.
The company has also incorporated an advisory board comprising six members from various business and investment backgrounds.




2.Tata Dynamic Bond Fund declares dividend under Bond Fund – Direct Plan

Tata Mutual Fund has declared dividend on the face value of Rs 10 per unit under the dividend options of Tata Dynamic Bond Fund – Direct Plan. The record date for dividend is February 25, 2013. 

The quantum of dividend will be Rs 0.05 per unit. 




3.MFs to have color codes to represent risk

Mutual funds will soon have color codes to represent the kind of risk the product has. The scheme that bets on high-risk assets will be marked red while yellow will stand for moderate risk and green for low-risk plans, according to media reports.

The color code will apply to MF schemes across equity and debt. A panel constituted by the Association of Mutual Funds of India (AMFI) has put forward this recommendation to market regulator SEBI (Securities and Exchange Board of India). The proposal is being considered by the regulator, the reports added.



4.Mutual funds in buying mode. Net inflow of Rs 43 crore on 19 February 2013

Mutual funds (MFs) bought shares worth a net Rs 43 crore on Tuesday, 19 February 2013, lower than inflow of Rs 76.70 crore on Monday, 18 February 2013. 

The net inflow of Rs 43 crore on Tuesday, 19 February 2013, was a result of gross purchases Rs 245.10 crore and gross sales Rs 202.10 crore. The BSE Sensex had jumped 134.64 points or 0.69% to settle at 19,635.72 on that day, its highest level since 6 February 2013. 
Mutual funds have sold shares worth net Rs 1216.20 crore in February 2013 so far (till 19 February 2013)



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