1.UTI Fixed Term Income Fund-Series XVI-VIII (368 Days): Launch of NFO

UTI Mutual Fund has announced the NFO of the above scheme. The NFO will open for subscription on October 04, 2013 and close on October 09, 2013.

News Source – VALUE RESEARCH ONLINE.

2.Reliance Fixed Horizon Fund – XXIV – Series 22 Floats On. NFO period is from 03 October to 07 October 2013

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIV – Series 22, a close ended income scheme with the duration of 609 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 03 October to 07 October 2013.
This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk – Blue.
The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.
The scheme offers two options viz. growth, dividend payout option and direct plan – growth option and direct plan – dividend payout option. The scheme will allocate upto 40% in money market instruments with low risk profile and invest upto 60%-100%in government securities & debt instruments with low to medium risk profile. 65% to 70% of net assets would be invested in AAA rated NCDs/Bonds and invest upto 30%-35% in AA rated NCDs/Bonds.

News Source – NAV INDIA.



GENERAL

3.Mutual funds in selling mode

Mutual funds (MFs) sold shares worth Rs 407.30 crore on Tuesday, 1 October 2013, compared with net inflow of Rs 2.70 crore on Monday, 30 September 2013.
The net outflow of Rs 407.30 crore on Tuesday, 1 October 2013, was a result of gross purchases of Rs 441.90 crore and gross sales of Rs 849.10 crore. The S&P BSE Sensex had jumped 137.38 points or 0.71% to settle at 19,517.15 on that day, its highest closing level since 27 September 2013. Mutual funds sold shares worth a net Rs 2800.90 crore in September 2013.

News Source – NAV INDIA.

Latest Indian Mutual Fund News | 05-Oct-2013
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