Latest Indian Mutual Fund News | 14-Jan-2014

1.Tata MF introduces Fixed Maturity Plan Series 46- Scheme H

Tata Mutual Fund has launched the New Fund Offer (NFO) of Tata Fixed Maturity Plan Series 46- Scheme H (534 days from the date of allotment), a Close Ended Income scheme. The NFO opens for subscription on Jan 13, 2014, and closes on Jan 20, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000.
The scheme’s performance will be benchmarked against Crisil Short Term Bond Fund Index and its fund manager is Amit Somani. The investment objective of the scheme is to generate income and / or capital appreciation by investing in wide range of Fixed Income Instruments having maturity in line with the maturity of a scheme. The maturity of all investments shall be equal to or less than the maturity of a scheme. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns.

News Source – INDIAN COMMODITY.

DIVIDEND

2.FT Dynamic PE Fund of Funds announces dividend

Franklin Templeton Mutual Fund has announced 17 January 2014 as the record date for declaration of dividend under the dividend plan and direct-dividend plan of FT Dynamic PE Fund of Funds. The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be: Individuals & HUF-0.584; Others-0.559

News Source – NAV INDIA.

GENERAL

3.JM Income Fund announces change in exit load structure

JM Financial Mutual Fund has announced change in exit load structure under JM Income Fund with effect from 13 January 2013. Accordingly, the revised exit load structure will be nil. The change in load structure shall be applicable for all prospective investment(s) in the scheme for which the NAV of 13 January 2013 onwards in applicable.

News Source – NAV INDIA.

NEW FUND OFFER

4.UTI MF Launches UTI – FTIF – Series XVII – VIII (1096 Days). NFO period from 13 January to 20 January 2014

UTI Mutual Fund has launched a new fund named as UTI – Fixed Term Income Fund – Series XVII – VIII (1096 Days), a close ended income scheme. The duration of the scheme is 1096 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 13 January will close on 20 January 2014.
The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme. The scheme offers growth option, quarterly dividend option with payout and reinvestment facility, flexi dividend option with payout and reinvestment facility, annual dividend option with payout and reinvestment facility and maturity dividend option with payout facility.
The scheme will allocate 80%-100% of assets in debt instruments with low to medium risk profile and upto 20% of assets would be allocated to money market instruments with low risk profile. The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options. The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. Entry and exit load charge will be nil for the scheme. Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. The scheme will be managed by Manish Joshi.

News Source – NAV INDIA.

DIVIDEND

5.Baroda Pioneer Balanced Fund announces dividend

Baroda Pioneer Mutual Fund has announced 17 January 2014 as the record date for declaration of dividend under the dividend payout option of Baroda Pioneer Balanced Fund. The proposed dividend will be Rs 3.5 per unit on the face value of Rs 10 per unit.

News Source – NAV INDIA.

6.Reliance Media & Entertainment Fund declares dividend at Rs 2

Reliance Mutual Fund has announced dividend under the dividend option of Reliance Media & Entertainment-D, Reliance Media & Entertainment Direct-D, Reliance NRI Equity-D and Reliance NRI Equity Direct-D. The quantum of dividend shall be Rs 2 per unit. The record date has been fixed as January 17, 2014.

News Source – VALUE RESEARCH ONLINE.

DIVIDEND



7.Mirae Asset Mutual fund declares dividend

Mirae Asset Mutual fund declared dividend in below schemes and record date is 09.01.2014:
Mirae Asset Ultra Short Term Bond Fund – Institutional Plan – Dividend Option – Quarterly
Mirae Asset Ultra Short Term Bond Fund – Direct Plan – Dividend Option – Quarterly
Mirae Asset Short Term Bond Fund – Regular Plan – Dividend Option – Quarterly

News Source – Mirae AMC

GENERAL

8.Reliance Small Cap Fund announces change

Reliance Mutual Fund has announced that considering the favourable market opportunities in the Small Cap space, it has been decided to withdraw/remove the upper limit for subscription which was restricted up to Rs 5 lac per investor (including all folios) under Reliance Small Cap Fund. Accordingly, the following shall be applicable with effect from 15 January 2014 till further notice:
1. Fresh/additional subscriptions/switch ins will be allowed/accepted for any amount subject to the minimum application amount as mentioned in the SID and KIM of the scheme.
2. Subscriptions through SIP, STP will be allowed/accepted with each instalment of any amount subject to minimum instalment amount as mentioned in the SID and KIM of the scheme.

News Source – NAV India

9.Mutual funds continue selling

Mutual funds (MFs) sold shares worth a net Rs 26.70 crore on Wednesday, 8 January 2014, compared with net outflow of Rs 181.60 crore on Tuesday, 7 January 2014.
The net outflow of Rs 26.70 crore on Wednesday, 8 January 2014, was a result of gross purchases of Rs 388.50 crore and gross sales of Rs 415.20 crore. The S&P BSE Sensex had garnered 36.14 points or 0.17% to settle at 20,729.38 on that day, its highest closing level since 6 January 2014.
Mutual funds have sold shares worth a net Rs 647.40 crore in this month so far (till 8 January 2014).

News Source – NAV India

GENERAL

10.MF Industry clocks 8% rise in Dec AUM

In terms of total funds, HDFC MF remains at the top slot, Reliance MF and ICICI Prudential are at the second and third positions respectively. Average assets under management (AAUM) of Indian mutual fund industry surged almost 8 percent or Rs 67437 crore to Rs 8.75 lakh crore during the October-December quarter from Rs 8.08 lakh crore in September.

News Source – MoneyControl

11.Taurus Dynamic Income Fund revises exit load

Taurus Mutual Fund has announced revision in exit load structure of Taurus Dynamic Income Fund, with effect from January 06, 2014. Accordingly, the revised exit load will be 1% if exited on or before 7 days and nil if exited after 7 days. For switch from the scheme to any other scheme, exit load would be applicable as mentioned.

News Source – MoneyControl.

NEW FUND LAUNCH

12.IDFC Equity Opportunity – Series 2 Floats On

IDFC Mutual Fund has launched a new fund named IDFC Equity Opportunity – Series 2, a close ended equity scheme. The new issue will open for subscription from 13 January to 24 January 2014. The primary investment objective of the scheme is to seek to generate capital appreciation from a portfolio that is invested in equity and equity related securities of companies. The scheme offers regular & direct plan, dividend payout option and dividend sweep option.

News Source – NAV India

Latest Indian Mutual Fund News | 14-Jan-2014
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