Latest Indian Mutual Fund News | 26-July-2013

NEW FUND OFFER

1.Axis Hybrid Fund Series 6 Floats On. NFO Period from 25 July to 8 August 2013

Axis Mutual Fund has launched a new fund named as Axis Hybrid Fund Series 6, a 42 months close ended income scheme. During the New Fund Offer (NFO) period the units will be offered for Rs 10 each. The new issue is open for subscription from 25 July and close subscription on 08 August 2013. In order to provide liquidity, the units of the scheme will be listed on the capital market segment of the NSE and/ or any other Stock Exchange.
This product is suitable for investors who are seeking capital appreciation while generating income over medium to long term. The scheme invests in debt and money market instruments as well as equity and equity related instruments with medium risk – Yellow.
The primary objective is to generate income by investing in high quality fixed income securities whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments. The scheme shall offer two options i.e. dividend (dividend payout facility) and growth option.

News Source – INDIAN INFOLINE.

DIVIDEND

2.Religare Invesco Arbitrage Fund announces dividend

Religare Invesco Mutual Fund has announced 29 July 2013 as the record date for declaration of dividend under the dividend option and direct plan-dividend option under Religare Invesco Arbitrage Fund, an open ended equity scheme. The quantum of dividend will be Rs 0.09 per unit under each option on the face value of Rs 10 per unit.

News Source – NAV INDIA.

3.UTI Mutual Fund: Dividend Declaration

UTI Mutual Fund has announced dividend under the dividend option of- UTI Q Interval Fund Sr IV Reg-D, UTI Q Interval Fund Sr IV Reg Direct-D and UTI Q Interval Fund Sr IV Inst-D.
The quantum of dividend will be the entire distributable surplus as on the record date. The record date has been fixed as July 29, 2013.

News Source – VALUE RESEARCH ONLINE.

NEW FUND OFFER



4.Axis Hybrid Fund Series – 8 -19 Files Offer Document With Sebi

Axis Mutual Fund has filed offer document with Sebi to launch Axis Hybrid Fund Series – 8-10, a 1 to 5 years close-ended debt scheme. The New Fund Offer price is Rs 10 per unit.
Investment objective: To generate income by investing in high quality fixed income securities that are maturing on or before the maturity of the scheme whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.
Options: The scheme shall offer two options i.e. dividend (dividend payout facility) and growth option. Benchmark: Crisil MIP Blended Index. Loads: Not applicable. Minimum Application Amount: Rs. 5,000 in multiples of Re. 10/- thereafter. Minimum Target Amount: Rs. 20 crore
Asset Allocation: The scheme will allocate 70% to 95% of assets in debt instruments including securitized debt with low to medium risk profile. Invests upto 25% in and money market and it would allocate 5% to 30% of assets in equity and equity related instruments with high risk profile. Investment in securitized debt would be up to 50% of the net assets of the scheme. The scheme shall not invest in foreign securitized debt.

News Source – NAV INDIA.

GENERAL

5.Mutual funds continue buying. Net inflow of Rs 43.90 crore on 23 July 2013

Mutual funds bought shares worth a net Rs 43.90 crore on Tuesday, 23 July 2013, compared with net inflow of Rs 121.40 crore on Monday, 22 July 2013.
The net inflow of Rs 43.90 crore on 23 July 2013 was a result of gross purchases of Rs 440.40 crore and gross sales of Rs 396.50 crore. The S&P BSE Sensex had jumped 143.01 points or 0.71% to settle at 20,302.13 on that day, its highest closing level since 4 January 2011.
Mutual funds have sold shares worth a net Rs 940 crore in July 2013 so far (till 23 July 2013).

News Source – INDIAN INFOLINE.

6.Pramerica Equity Fund announces changes

Pramerica Mutual Fund has announced the following changes in the fundamental attributes of Pramerica Equity Fund with effect from 30 August 2013. The proposed scheme features will be:
Investment objective: The primary objective of scheme is to achieve long term capital appreciation by predominantly investing in equity and equity related securities including derivatives of large cap companies. The scheme may also invest in equity & equity related securities of other than large cap companies besides debt & money market instruments.
Asset Allocation: The scheme would invest 65%-100% in equity and equity related securities (including equity derivatives) of large cap companies and up to 35% in & equity related securities of other than large cap companies (including equity derivatives). The scheme may also invest up to 35% in debt & money market instruments (including fixed income derivatives).

News Source – NAV INDIA.

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