Latest Indian Mutual Fund News | 28-Sep-2013

1.LIC Nomura MF FMP Series 71 (370 days) extends NFO closing date. NFO will now close on 03 October 2013

LIC Nomura Mutual Fund has announced that the closing date of the New Fund Offer (NFO) of LIC Nomura MF FMP Series 71 (370 days) a close ended income scheme, has been extended from 25 September 2013 to 03 October 2013.

News Source – NAV INDIA.

2.DWS Fixed Maturity Plan-Series 39 extends NFO closing date. NFO will now close on 03 October 2013

Deutsche Mutual Fund has announced that the closing date of the New Fund Offer (NFO) of DWS Fixed Maturity Plan-Series 39, 370 days close ended debt fund, has been extended from 25 September 2013 to 03 October 2013.

News Source – NAV INDIA.

DIVIDEND

3.Reliance MF declares dividend under Fixed Horizon Fund-XXIV Series 14

Reliance Mutual Fund (MF) has declared dividend under the Reliance Fixed Horizon Fund-XXIV Series 14. The record date for dividend is September 30, 2013. The amount of dividend on the face value of Rs 10 per unit will be Rs 0.0839 per unit under dividend payout option and Rs 0.0854 per unit under direct plan-dividend payout option
The investment objective of the Scheme is to generate returns and growth of capital by investing in a diversified portfolio of the following securities which are maturing on or before the date of maturity of the scheme with the object of limiting interest rate volatility – Central and State Government securities and other fixed income/ debt securities

News Source – INDIAN COMMODITY.

4.Tata MF declares dividend under Equity P/E Fund

Tata Mutual Fund (MF) has declared dividend under the Plan a (Dividend Trigger Option A-5%) and Direct Plan (Dividend Trigger Option A-5%) under Tata Equity P/E Fund. The record date for dividend is September 30, 2013. The rate of dividend will be Rs 0.25 per unit on face value of Rs 10 per unit. The investment objective of the Scheme is to provide reasonable & regular income &/or possible capital appreciation to its unit holders.

News Source – INDIAN COMMODITY.

NEW FUND OFFER



5.Axis Mutual Fund Launches 546 Days FTP Series 41. NFO period is from 25 September to 3 October 2013

Axis Mutual Fund has launched a new plan named as Axis Fixed Term Plan – Series 41 (546 Days), a close ended debt scheme. The duration of the scheme is 546 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 25 September to 3 October 2013.
The plan of the scheme will endeavour to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the plan. The scheme offers two options viz. growth and dividend option. Dividend option offers payout facility.
The scheme will allocate 60%-00% of assets in debt instruments including securitized debt and will invest upto 0%-40% of assets in money market instruments. Investment in securitized debt would be upto 50% of the net assets of the scheme. The scheme shall not invest in foreign securitized debt. Investment in derivatives shall be up to 50% of the net assets of the scheme.
70% to 75% of net assets would be invested in AAA rated NCDs/Bonds. The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

News Source – NAV INDIA.

6.LIC Nomura MF Launches Fixed Maturity Plan – series 7. NFO period is from 25 September to 03 October 2013

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 71, a close ended income 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 25 September to 03 October 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 20% of assets in debt and 80%-100% of the asset would be invested in money market instruments with low to medium risk profile. Debt includes securitized debt upto 20%.

News Source – NAV INDIA.

7.Tata Fixed Maturity Plan Series 44 – Scheme D Floats On. NFO period is from 25 September to 03 October 2013

Tata Mutual Fund has launched a new fund named as Tata Fixed Maturity Plan Series 44 Scheme D, a close-ended debt scheme with the duration of 543 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue which is open for subscription from 25 September will close on 03 October 2013
The investment objective of each 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 the maturity of the respective schemes. The scheme offers growth option and periodic dividend option (payout).
The schemes shall invest upto 75%-100% of assets in debt instruments with low to medium risk profile and invest upto 25% in money market instruments with low risk profile.

News Source – NAV INDIA.

GENERAL

8.Principal Mutual Fund: Change in Exit Load

Fund house has revised the existing load of scheme Principal Income Fund-Short Term Plan from 0.50% if redeemed within 30 days to 0.50% if redeemed within 180 days. Revised exit load shall be applicable prospectively in respect to subscription in the scheme post 3.00 p.m. effective Monday, September 30, 2013.

News Source – VALUE RESEARCH ONLINE.

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