Latest Indian Mutual Fund News | 31-Oct-2013



1.Religare Invesco Mutual Fund files offer document for Religare Invesco Pan European Equity Fund

Religare Invesco Mutual Fund has filed offer document with SEBI to launch an Open Ended Fund of Funds Scheme named as “Religare Invesco Pan European Equity Fund”. The New Fund Offer price is Rs 10 per unit.
Entry load charges will be nil for the scheme and exit load In respect of each purchase/switch-in of units, an exit load of 1% is payable if units are redeemed/ switched-out on or before 1 year from the date of allotment. In respect of each purchase/switch-in of units, no exit load is payable if units are redeemed/switched-out after 1 year from the date of allotment. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 10 crore. The scheme will be benchmarked against MSCI Europe-ND. The minimum application amount is Rs 5,000 per application and in multiples of Rs.1 thereafter per application.

News Source – INDIAN COMMODITY.

2.Reliance Mutual Fund files offer document for Reliance Japan Equity Fund

Reliance Mutual Fund has filed offer document with SEBI to launch an Open Ended Diversified Equity Scheme named as “Reliance Japan Equity Fund”. The New Fund Offer price is Rs 10 per unit.
Entry load charges will be nil for the scheme and exit load 1% if redeemed or switched out on or before completion of 1 year from the date of allotment of units. Nil if redeemed or switched out after the completion of 1 year from the date of allotment of units. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 20 crore. The scheme will be benchmarked against Tokyo Stock Price Index. The minimum application amount is Rs 5,000 per application and in multiples of Rs.1 thereafter per application.

News Source – INDIAN COMMODITY.



GENERAL

3.Mutual funds continue selling

Mutual funds (MFs) sold shares worth a net Rs 282.30 crore on Monday, 28 October 2013, higher than net outflow of Rs 174.80 crore on Friday, 25 October 2013.
The net outflow of Rs 282.30 crore on Monday, 28 October 2013, was a result of gross purchases of Rs 195.80 crore and gross sales of Rs 478.10 crore. The S&P BSE Sensex had shed 113.24 points or 0.55% to settle at 20,570.28 on that day, its lowest closing level since 17 October 2013. Mutual funds have sold shares worth a net Rs 3224.30 crore in October 2013 so far (till 28 October 2013).

News Source – NAV INDIA.

Latest Indian Mutual Fund News | 31-Oct-2013
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