Latest Indian Mutual Fund News | 29-Oct-2013

1.Reliance MF introduces Fixed Horizon Fund – XXIV – Series 23

Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Fixed Horizon Fund – XXIV -Series 23, a Close Ended income scheme. The NFO opens for subscription on October 28, 2013, and closes on October 31, 2013. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs. 5,000 and in multiples of Re. 1 thereafter.
The scheme’s performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund manager is Amit Tripathi. 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.



2.UTI MF declares dividend under Master Share Unit Scheme

UTI (MF) has declared dividend under UTI-Master Share Unit Scheme. The record date for dividend is October 29, 2013. The quantum of dividend will be 22.5% or Rs 2.25 per unit on the face value of Rs 10 per unit.
The investment objective of the scheme is to provide long term capital appreciation. It would also endeavor to plough back income and profits and depending on reserves built up, would consider issue of bonus or rights units.



3.Change in exit load of Canara Robeco Short Term Fund

Canara Robeco Mutual Fund changed the exit load of Canara Robeco Short Term Fund from the previous 0.5 per cent on redemptions within 3 months, to 0.5 per cent on redemptions within 6 months. The change will be effective from October 28, 2013.


4.DWS Treasury Fund-Cash Plan announces changes

Deutsche Mutual Fund has announced change in the fundamental attributes of DWS Treasury Fund-Cash Plan, an open ended liquid plan with effect from 29 November 2013.
It is proposed to reword the note appearing below the asset allocation pattern as follows: The aggregate share of investment in CDs, cash including CBLO/reverse repo/T-bills, sovereign securities-g-sec will be maintained equal to or higher than 50%. In the event of this limit falling below 50%, the same shall be re-balanced within 30 days. Accordingly, the revised asset allocation pattern will be up to 100% of allocation in debt securities and money market instruments with maturity up to 91 days.

News Source – NAV INDIA.


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