Latest Indian Mutual Fund News | 11-May-2013

NEW FUND OFFER

1.LIC Nomura MF Launches Fixed Maturity Plan – series 64. NFO period is from 09 May to 14 May 2013

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 64, a close ended income scheme with the duration of 729 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 09 May to 14 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%.
50% -55% of net assets would be invested in AA rated NCDs and upto 45%-50% would be invested in NCDs AND 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.

DIVIDEND

2.UTI Opportunities Fund announces dividend. Record date for dividend is 14 May 2013

UTI Mutual Fund has announced 14 May 2013 as the record date for declaration of dividend under the dividend option (existing plan) of UTI Opportunities Fund. The quantum of dividend will be 10% or Rs 1 per unit on the face value of Rs 10 per unit.

News Source – INDIA INFOLINE.

GENERAL



3.Mutual funds continue selling

Mutual funds sold shares worth a net Rs 234.80 crore on Wednesday, 8 May 2013, higher than net outflow of Rs 201.50 crore on Tuesday, 7 May 2013.
The net outflow of Rs 234.80 crore on 8 May 2013 was a result of gross purchases of Rs 308.80 crore and gross sales of Rs 543.50 crore. The S&P BSE Sensex had jumped 101.23 points or 0.51% to settle at 19,990.18 on that day, its highest closing level since 30 January 2013.
Mutual funds have sold shares worth a net Rs 1388.70 crore in May 2013 so far (till 8 May 2013)

News Source – INDIA INFOLINE.

NEW FUND LAUNCH

4.Taurus Fixed Maturity Plan Series AA to AC Files Offer Document with Sebi

Taurus Mutual Fund has filed offer document with Sebi to launch Taurus Fixed Maturity Plan Series AA to AC, a close-ended debt scheme. The new fund offer price is Rs 10 per unit. Tenure of the scheme(s) will be 30 days to 400 days from the date of allotment of the respective scheme (including the date of allotment).
Investment objective: The investment objective of the scheme is to generate income with minimum volatility through investments in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
Options: Growth and dividend option
Benchmark: The benchmark index for schemes with maturity up to 91 days will be Crisil Liquid Fund Index and the benchmark index for schemes with maturity between 92 days up to 400 days will be Crisil Short Term Bond Fund Index.

News Source – NAV INDIA.

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