Latest Indian Mutual Fund News | 15-May-2013


1.LIC Nomura MF Launches Fixed Maturity Plan – series 55. NFO period is from 13 May to 23 May 2013


LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 55, a close ended income scheme with the duration of 375 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 May to 23 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 20% of assets in debt and 80%-100% of the asset would be invested in money market instruments with low to medium risk profile. Debt includes securitized debt upto 50%.

News Source – NAV INDIA.



2.Peerless Short Term Fund Announces Dividend


Peerless Mutual Fund has declared dividend on the face value of Rs 10 per unit under monthly dividend option in regular and direct plan of Peerless Short Term Fund (an open ended debt scheme). The record date for dividend was 10 May 2013.
The gross dividend was Rs 0.11 per unit as on the record date.

News Source – NAV INDIA.



3.Mutual funds in selling mode. Net outflow of Rs 42.40 crore on 10 May and outflow of Rs 4 crore on 11 May 2013.


Mutual funds sold shares worth a net Rs 42.40 crore on Friday, 10 May 2013, which was a result of gross purchases of Rs 197.80 crore and gross sales of Rs 240.20 crore.
Mutual funds sold shares worth Rs 4 crore on Saturday, 11 May 2013. There was a special trading session on Saturday, 11 May 2013.
Mutual funds have sold shares worth a net Rs 1645.40 crore in May 2013 so far (till 11 May 2013).

News Source – NAV INDIA.


4.Religare Mutual Fund renames itself to Religare Invesco Mutual Fund


Religare Mutual Fund announced a change in its name to Religare Invesco Mutual Fund from May 14, 2013 onwards. The change follows the 2012 Religare-Invesco deal, wherein Religare AMC sold 49 per cent stake to US-based asset management company Invesco.
Following this, Religare Asset Management Company Pvt Ltd will be called Religare Invesco Asset Management Company Pvt Ltd from April 2, 2013.

The word ‘Religare’ will be replaced by ‘Religare Invesco’ in all funds’ names and documents.


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