Latest Indian Mutual Fund News | 03-Aug-2013

NEW FUND OFFER

1.L&T MF Floats 713 Days Fund. NFO period is from 31 July to 05 August 2013

L&T Mutual Fund has launched a new fund named as L&T FMP – VIII – Plan C, a close ended income scheme having a tenor of 713 Days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue which is open for subscription from 31 July 2013 closes on 05 August 2013.
The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of debt / fixed income securities maturing on or before the maturity of the scheme. The scheme offers two options viz. growth and dividend (payout) option.
The scheme would allocate 80%-100% of its corpus in debt instruments and invest upto 20% in money market instruments with low to medium risk profile. Debt instruments August include exposure in derivatives, either exchange traded or OTC which can be upto 50% of net assets as permitted by SEBI regulations.

News Source – NAV INDIA.

DIVIDEND

2.Reliance Interval Fund-Quarterly Interval Fund Series II Announces Dividend

Reliance Mutual Fund has announced 07 August 2013 as the record date for declaration of dividend under dividend option and institutional plan-dividend option of Reliance Interval Fund-Quarterly Interval Fund Series II. The rate of dividend (Rs per unit) will be 0.1841 under each option/plan on the face value of Rs 10 per unit.



News Source – INDIA INFOLINE.

GENERAL

3.Mutual funds step up buying. Net inflow of Rs 90.80 crore on 1 August 2013

Mutual funds bought shares worth a net Rs 90.80 crore on Thursday, 1 August 2013, higher than net inflow of Rs 15.80 crore on Wednesday, 31 July 2013.
The net inflow of Rs 90.80 crore on 1 August 2013 was a result of gross purchases of Rs 668 crore and gross sales of Rs 577.10 crore. The S&P BSE Sensex had lost 28.51 points or 0.15% to settle at 19,317.19 on that day, its lowest closing level since 10 July 2013. Mutual funds have sold shares worth a net Rs 2168.50 crore in July 2013.

News Source – NAV INDIA.

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