UTI Mutual Fund has declared dividend under the dividend sub option of UTI Fixed Income Interval Fund Series II – Quarterly Interval Plan VII. The record date for dividend is April 8, 2013.
The gross dividend per unit will be 100% of distributable surplus as on the record date on the face value of Rs. 10 per unit.
News Source – INDIAN COMMODITY.
NEW FUND LAUNCH
Religare Mutual Fund has filed offer document with Sebi to launch Religare Corporate Bond Opportunities Fund, an open-ended income scheme. The New Fund Offer price is Rs 1000 per unit.
Investment objective: To generate returns and capital appreciation by predominantly investing in corporate debt securities of varying maturities across the credit spectrum.
Plans/Options: Regular plan and direct plan with Growth and dividend reinvestment/payout options under both plans.
Benchmark: 65% of CRISIL AAA Long Term Bond Index and 35% of CRISIL AA Long Term Bond Index
In respect of each purchase/switch-in of units, an exit load of 2% is payable if units are redeemed/ switched-out on or before 3 years from the date of allotment.
In respect of each purchase/switch-in of units, no exit load is payable if units are redeemed/switched-out after 3 years from the date of allotment.
News Source – NAV INDIA.
MERGER OF SCHEMES
LIC Nomura Mutual Fund has announced that on 7 May 2013, LIC Nomura MF Top 100 Fund, LIC Nomura MF Systematic Asset Allocation Fund, LIC Nomura MF Vision Fund and LIC Nomura MF Opportunities Fund (merging schemes) shall be merged with LIC Nomura MF Equity Fund, an open ended growth scheme.
Thus with effect from 7 May 2013 LIC Nomura MF Top 100 Fund, LIC Nomura MF Systematic Asset Allocation Fund, LIC Nomura MF Vision Fund and LIC Nomura MF Opportunities Fund shall cease to exist. The investment objective of LIC Nomura MF Equity Fund is to provide capital growth by investing mainly in equities.
News Source – INDIA INFOLINE.