Latest Indian Mutual Fund News | 12-Mar-2013

NEW FUND OFFER

1.LIC Nomura MF Launches Fixed Maturity Plan – Series 58. NFO period is from 08 March to 12 March 2013

 LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 58, a close ended income scheme with the duration of 392 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 08 March to 12 March 2013. The units of the scheme will be listed on National Stock Exchange of India, in order to provide liquidity.

The investment objective of the scheme is to minimize interest rate risk by investing in a portfolio of fixed income securities which mature on or before the date of the maturity of the scheme.
The scheme offers two options viz. growth and dividend payout option.
The scheme would allocate upto 50%-100% of assets in debt and 50% of the asset would be invested in Money Market instruments with low to medium risk profile. Debt includes securitized debt upto 50%.
95% 100% of net assets would be invested in A1 rated certificate of deposits and upto 5% would be invested in any other securities such as Government Securities / Treasury Bills / CBLO / Reverse Repos Repos (in G-Sec / T-Bill).

News Source – NAV INDIA.

2.Religare Fixed Maturity Plan – Series XVIII – Plan Floats On. NFO period is from 12 March to 13 March 2013

 Religare Mutual Fund has launched a new fund named as Religare Fixed Maturity Plan – Series XVIII – Plan A (369 Days), a close ended debt scheme. The tenure of the scheme is 369 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 12 March and closes on 13 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.

News Source – NAV INDIA.

3.DWS Fixed Maturity Plan – Series 27 Floats On. NFO period is from 13 March to 14 March 2013

 Deutsche Mutual Fund has unveiled a new fund named as DWS Fixed Maturity Plan – Series 27, 370 days close ended debt fund. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 March to 14 March 2013.



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.
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.

News Source – INDIAN INFOLINE.

DIVIDEND

4.UTI MF introduces Flexi Dividend Option under UTI Floating Rate Fund (STP) – Regular Plan

 UTI Mutual Fund has decided to introduce Flexi Dividend Option under UTI Floating Rate Fund (STP) – Regular Plan with both Payout & Reinvestment facilities under both existing plan & Direct Plan, in addition to existing dividend options, on prospective basis, with effect from 11 March 2013.

News Source – INDIAN INFOLINE.

5.Reliance Tax Saver (ELSS) Fund announces dividend. Record date for dividend is 15 March 2013

Reliance Mutual Fund has announced 15 March 2013 as the record date for declaration of dividend under the dividend plan of Reliance Tax Saver (ELSS) Fund. The amount of dividend will be Rs 0.70 per unit on the face value of Rs 10 per unit.

News Source – NAV INDIA.

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