Latest Indian Mutual Fund News | 09-Mar-2013

SEBI / AMFI

1.AMCs to follow uniform process for split transactions: AMFI

 Investments into a debt fund wouldn’t be based on the number of application forms, but on permanent account number. The Association of Mutual Funds in India (AMFI) has issued uniform guidelines for implementation of consistent practice for aggregating split transactions across AMCs (asset management companies) and has recommended uniform process to be followed by fund houses from 4th March.

AMFI Operations and Compliance committee after deliberations� felt the need for uniform practice for aggregating split transactions across AMCs and has recommended uniform process to be followed by AMCs with effect from March 04, 2013, AMFI said.

News Source – INDIA INFOLINE.

NEW FUND OFFER

2.Reliance MF Floats Reliance Fixed Horizon Fund – XXIII – Series 5. NFO Period from 08 March to 11 March 2013

 Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIII – Series 5, a close ended income scheme with the duration of 380 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 08 March and will close on 11 March 2013.

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.
The scheme offers two options viz. growth, dividend payout option, and direct plan – growth option and direct plan – dividend payout option.
The scheme will allocate upto 40% of assets in money market instruments with low risk profile. On the other side it would allocate 60% to 100% of assets in Government Securities & debt instruments with low to medium risk profile.

News Source – NAV INDIA.



3.Religare Fixed Maturity Plan – Series XVII – Plan F Floats On.NFO period is from 08 March to 11 March 2013

 Religare Mutual Fund has launched a new fund named as Religare Fixed Maturity Plan – Series XVII – Plan F (392 Days), a close ended debt scheme. The tenure of the scheme is 392 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 on 08 March and closes on 11 March 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 its entire corpus in debt instruments and money market instruments with low risk profile.
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.

4.BOI AXA Fixed Maturity Plan – Series 1 Floats On. NFO period is from 08 March to 12 March 2013

 BOI AXA Mutual Fund has launched a new fund named as BOI Axa Fixed Maturity Plan – Series 1, a close-ended income scheme. The New Fund Offer price is Rs 10 per unit. The tenure of the scheme will be 386 days from the date of allotment. The new issue will open for subscription from 08 March to 12 March 2013.

Investment objective: The investment objective of the Scheme(s) is to generate income by investing in a portfolio of fixed income and money market instruments maturing on or before the maturity date of the Scheme.
Options: The scheme offers Regular Plan and Direct Plan. Both Regular Plan and Direct Plan offer Growth Option and Dividend Payout Option.

News Source – NAV INDIA.

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