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Latest Indian Mutual Fund News | 27-June-2013


1.LIC Nomura MF Launches Fixed Maturity Plan – series 66. NFO opens remains open only on 26 June 2013

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 66, a close ended income scheme with the duration of 371 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription only on 26 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 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%.



2.Canara Robeco Mutual Fund announces changes

Canara Robeco Mutual Fund has announced the following changes in SID and KIM of Canara Robeco Income and Canara Robeco Balance schemes with effect from 01 July 2013. Accordingly, the revised changes will be:
Renaming of dividend options:
Canara Robeco Income and Canara Robeco Balance (each): Regular Plan-Quarterly Dividend Option and Direct Plan-Quarterly Dividend Option.
The aforesaid changes shall be applicable to all the existing unit holders under the said plans/options of the respective scheme effective from 01 July 2013.

News Source – NAV INDIA.

3.Tata Mutual Fund announces change in exit load under three scheme

Tata Mutual Fund has announced change in exit load under the following schemes with effect from 27 June 2013. These changes shall be applicable to lumpsum subscriptions under SIP/STP submitted on or after 27 June 2013.
Accordingly, the revised exit load under Tata Short Term Bond Fund, Tata Dynamic Bond Fund & Tata Gilt Securities Fund, will be 0.50% of NAV if redeemed on or before expiry of 180 days from the date of allotment.

News Source – NAV INDIA.

Latest Indian Mutual Fund News | 27-June-2013
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