NEW FUND OFFER
Reliance Mutual Fund has unveiled a new fund named as Reliance Dual Advantage Fixed Tenure Fund – III – Plan C, a close ended hybrid scheme with the duration of 36 months and 30 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 from 17 May and close on 31 May 2013.
The scheme seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the scheme along with capital appreciation through equity exposure.
The scheme offers two options viz. growth and dividend payout option.
The scheme will allocate 65% to 95% of assets in debt securities with low to medium risk profile, upto 30% of assets in money market instruments with low to medium risk profile and 5% to 20% of assets in equities & equity related instruments (including options premium) with medium to high risk profile.
Of the investments in fixed income portfolio, 80% to 85% of net assets would be invested in AA rated non convertible debentures and upto 5% of net assets would be invested in money market instruments such as CBLO, T-Bills, Repos (repos not including repo in corporate bonds), CD, CPs, Government securities issued by Central and State government.
News Source – NAV INDIA.
BOI AXA Mutual Fund has announced that with effect from 07 May 2013, no load shall be charged in case of intra scheme switching across all the schemes of BOI AXA Mutual Fund. Consequently the para on intra scheme switching given in the respective offer documents stands modified as:
Intra-scheme switching: Investors can switch between different plans/options under the scheme at the applicable NAV. All valid applications for switch-out shall be treated as redemption and for switch-in as purchases with the respective applicable NAVs of the plans/option. However, there shall not be any entry or exit load that will be charged for intra scheme switching.
News Source – INDIA INFOLINE.
Franklin Templeton Mutual Fund has announced the change in asset allocation pattern under Templeton India Treasury Management Account with effect from June 12, 2013.
Now the scheme will allocate 50-100% in money market instruments and rest in debentures (investment grade, privately placed etc.). Presently, the scheme invests 70-100% in money market instruments and rest in debentures (investment grade, privately placed etc.)
News Source – VALUE RESEARCH ONLINE.