Latest Indian Mutual Fund News | 01-May-2013


1.LIC Nomura MF Launches Fixed Maturity Plan – series 63.NFO period is from 29 May to 07 May 2013

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 63, a close ended income scheme with the duration of 386 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 29 May to 07 May 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.Peerless Income plus Fund declares dividend under Monthly Dividend Option

Mr. Akshay Gupta, Managing Director & CEO of Peerless Funds Management Company Ltd., said, �Peerless Income Plus Fund aims to provide regular returns in the form of dividend to investors seeking a steady income and we at Peerless Mutual Fund are glad to successfully meet this objective with regular dividend declaration.�



3.BOI AXA Treasury Advantage Fund introduces SIP facility

BOI AXA Mutual Fund has that announced introduction of a new Systematic Investment Plan (SIP) facility in BOI AXA Treasury Advantage Fund with effect from 02 May 2013.
SIP frequency: Monthly SIP
Debit for subscriptions into the scheme will be executed: On any one of the following dates in a month as chosen by the investor/unit holder: 1st, 7th, 10th, 15th, 20th, 25th basis NAV of that day or of business day, if that day is not a business day. Default date: 7th
Minimum duration of SIP: 6 months
SIP instalment: Rs 1000 and in multiples of Rs 100 thereafter. (eg., Rs 1100, Rs 1200, Rs 1300 and so on and so forth)

News Source – NAV INDIA.

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