Latest Indian Mutual Fund News | 31-July-2013

NEW FUND OFFER

1.Indiabulls Mutual Fund Launches 370 Days Fixed Maturity Plan. NFO Period is from 30 July to 1 August 2013

Indiabulls Mutual Fund has launched a new fund named as Indiabulls FMP 370 Days July 2013 (3), a close ended debt scheme with the duration of 370 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 30 July and will close on 1 August 2013.
The investment objective of the scheme is to generate income and/ or capital appreciation by investing in wide range of Debt and Money Market instruments having maturity in line with maturity of the respective plans under the scheme. The maturity of all instruments shall be equal to or less than the maturity of the respective plans under the scheme.
The scheme offers growth & dividend option. Dividend option offers transfer and pay-out facility. The scheme would allocate upto 100% of assets in money market instruments with low to medium risk profile.

News Source – INDIA INFOLINE.

2.BOI AXA Fixed Maturity Plan – Series 4 Floats On. NFO period is from 30 July to 05 August 2013

BOI AXA Mutual Fund has launched a new fund named as BOI Axa Fixed Maturity Plan – Series 4, a close-ended income scheme. The new fund offer price is Rs 10 per unit. The tenure of the scheme will be 225 days from the date of allotment. The new issue will open for subscription from 30 July to 05 August 2013.
Investment objective: The investment objective of the scheme is to generate income by investing in a portfolio of fixed income and money market instruments maturing on or before the maturity date of the scheme.
Options: The scheme offers regular plan and direct plan. Both regular plan and direct plan offer growth option and dividend payout option.
Benchmark: CRISIL Short Term Bond Fund Index. Loads: Entry and exit load are nil. Minimum Application Amount: Minimum initial investment is Rs.5000/- per application and in multiples of 1/- thereafter. Minimum Target Amount: Rs 20 crore
Asset Allocation: The scheme shall invest upto 100% in money market instruments with low risk profile.

News Source – NAV INDIA.

GENERAL



3.Mirae Asset Mutual Fund announces change in exit load structure under two schemes

Mirae Asset Mutual Fund has announced change in exit load structure under the following schemes with effect from 01 August 2013. Accordingly, the revised the exit load structure will be:
Mirae Asset Ultra Short Term Bond Fund: Nil, Mirae Asset Short Term Bond Fund: 0.50% if redeemed within 6 months (180 days) from the date of allotment and nil if redeemed after 6 months (180 days) from the date of allotment.
A switch-out or a withdrawal under SWP shall also attract an exit load like any redemption.

News Source – NAV INDIA.

4.Edelweiss Short Term Income Fund announces change in exit load structure

Edelweiss Mutual Fund has announced change in exit load structure under Edelweiss Short Term Income Fund with effect from 30 July 2013. Accordingly, the revised the exit load structure will be nil.
The revised exit load as mentioned hereinabove shall be applicable on a prospective basis in respect of subscriptions in the Scheme on and after the effective date.

News Source – INDIA INFOLINE.

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