NEW FUND OFFER

1.LIC Nomura MF Launches Fixed Maturity Plan – series 65. NFO period is from 04 June to 11 June 2013

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 65, a close ended income scheme with the duration of 554 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 04 June to 11 June 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 75%-100% of assets in debt and 25% of the asset would be invested in money market instruments with low to medium risk profile. Debt includes securitized debt upto 50%.

News Source – INDIA INFOLINE.

DIVIDEND

2.Principal Dividend Yield Fund announces changes

Principal Mutual Fund has approved revision to certain features of Principal Dividend Yield Fund, an open ended equity schemes, with effect from 05 July 2013. Accordingly, the revised features will be:
Asset Allocation: The scheme shall invest 65-100% in equity and equity related instruments of high dividend yield companies (companies whose divided yield, at the time of investment, is equal to or higher than the dividend yield of the company with the lowest dividend yield in the CNX Dividend Opportunities Index, ascertained as at the close of previous trading day).
The scheme shall also invest up to 35% in debt and money market instruments (including units of debt/liquidmutual fund schemes and cash).

News Source – NAV INDIA.



3.DWS Fixed Term Fund Series 93 announces dividend. Record date for dividend is 11 June 2013

Deutsche Mutual Fund has announced 11 June 2013 as the record date for declaration of dividend under the dividend option of DWS Fixed Term Fund Series 93. The gross dividend rate will be 100% of distributable surplus on the face value of Rs 10 per unit.
Further, 11 June 2013 as been fixed as the record date for the purpose of determining the eligible unit holders of the scheme who would be entitled to the maturity/redemption proceeds on the maturity date of the scheme. The trading of these units which are listed on the NSE will be automatically suspended with effect from 10 June 2013.

News Source – NAV INDIA.

GENERAL

4.Mutual funds continue selling

Mutual funds sold shares worth a net Rs 40.60 crore on Tuesday, 4 June 2013, compared with outflow of Rs 188 crore on Monday, 3 June 2013.
The net outflow of Rs 40.60 crore on 4 June 2013 was a result of gross purchases of Rs 343.80 crore and gross sales of Rs 384.30 crore. The S&P BSE Sensex had lost 64.70 points or 0.33% to settle at 19,545.78 on that day, its lowest closing level since 30 April 2013.
Mutual funds have sold shares worth a net Rs 228.60 crore in June 2013 so far (till 4 June 2013).

News Source – INDIA INFOLINE.

Latest Indian Mutual Fund News | 06-June-2013
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