Latest Indian Mutual Fund News | 10-May-2013

DIVIDEND

1.UTI Opportunities: Dividend Declaration

UTI Mutual Fund has announced dividend under the dividend option of UTI Opportunities. The quantum of dividend shall be Rs 1 per unit.
The record date has been fixed as May 14, 2013

News Source – VALUE RESEARCH ONLINE.

GENERAL

2.Axis Short Term Fund announces change in exit load

Axis Mutual Fund has announced change in exit load structure under Axis Short Term Fund with effect from 10 May 2013. Accordingly, the revised exit load will be 0.50% if units are redeemed/switched out within 89 days from the date of allotment.
The load structure will be equally applicable to all special products offered under the scheme such as SIP, STP, switches etc. No exit load will be charged for switch between existing plan and direct plan where transaction is not routed through distributor in existing plan. If the transaction in existing plan is routed through distributor, then applicable exit load will be charged for switch from existing plan to direct plan. However, no load shall be levied on switches between options and sub options of the scheme. Also, units allotted on reinvestment of dividends shall not be subject to load.
The change in load structure will be effective on a prospective basis.



News Source – NAV INDIA.

NEW FUND LAUNCH

3.BOI AXA Triple Asset Allocator Fund Files Offer Document With Sebi

BOI AXA Mutual Fund has filed offer document with Sebi to launch BOI AXA Triple Asset Allocator, an open ended hybrid fund. The new fund offer price is Rs 10 per unit.
Investment objective: BOI AXA Triple Asset Allocator Fund aims to generate capital appreciation by investing in a diversified portfolio of equity and equity related securities, fixed income instruments & Gold Exchange Traded Funds. The equity allocation will be determined based on the month end P/E ratio of the CNX Nifty Index.
Options: The scheme has two plans viz. regular plan and direct plan. Each of the plan shall offer the following option: growth option, dividend option offering dividend re-investment and dividend pay-out facilities
Benchmark: Equity and Equity Related Instruments – CNX Nifty will be the benchmark with 37.5%, Gold Exchange Traded Funds – INR Price of Gold – 37.5% and Debt and Money Market Instruments – CRISIL Short Term Bond Fund Index – 25%.

News Source – NAV INDIA.






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