Latest Indian Mutual Fund News | 29-Jan-2014

1.UTI launches UTI Banking & PSU Debt Fund

UTI MF announced the NFO of UTI Banking & PSU Debt Fund. The scheme will open for subscription on January 27, 2014 and close on January 30, 2014. Investment Objective: The investment objective of the scheme is to generate steady and reasonable income through investments in Debt & Money Market securities by Banks and Public Sector Undertakings (PSUs). Load Structure: There will no entry load and exit load will be 0.25 per cent for redemption within 30 days.


2.Tata Fixed Maturity Plan Series 46 Scheme J extents NFO closing date. NFO will now close on 03 February 2014

Tata Mutual Fund has announced that the closing date for the New Fund Offer (NFO) of Tata Fixed Maturity Plan Series 46 Scheme J, a close ended debt scheme has been extended till 03 February 2014.

News Source – NAV INDIA.


3.Merger of Principal Retail Equity Savings Fund into Principal Growth Fund

Principal Mutual Fund has announced the merger of Principal Retail Equity Savings Fund into Principal Growth Fund, with effect from February 28, 2014. Investors who want to continue can do so without doing anything. However, investors, who want to exit from Principal Retail Equity Savings Fund, can redeem their units betweenJanuary 29, 2014 and February 28, 2014.
The unit holders who do not redeem/switch the current value of their holdings, will be converted into units of respective surviving scheme, by allotting units at the applicable NAV as on February 28, 2014.



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