Latest Indian Mutual Fund News | 04-Feb-2014

1.UTI MF Launches UTI – FTIF – Series XVII – XI (430 Days). NFO period is from 03 February to 07 February 2014

UTI Mutual Fund has launched a new fund named as UTI – Fixed Term Income Fund – Series XVII – XI (430 Days), a close ended income scheme. The duration of the scheme is 430 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 03 February will close on 07 February 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 70%-100% of assets in debt instruments with low to medium risk profile and upto 30% 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.

News Source – NAV INDIA.

DIVIDEND

2.Reliance Interval Fund – Quarterly Interval Fund – Series II Announces Dividend

Reliance Mutual Fund has announced 07 February 2014 as the record date for declaration of dividend under the following plans of Reliance Interval Fund-Quarterly Interval Fund Series II. The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be:
Reliance Interval Fund – Quarterly Interval Fund – Series II – Dividend Option: 0.2000, Reliance Interval Fund – Quarterly Interval Fund – Series II – Institutional Plan – Dividend Option: 0.2000, Reliance Interval Fund – Quarterly Interval Fund – Series II – Direct Plan – Dividend Option: 0.2022

News Source – NAV INDIA.

GENERAL

3.CHANGE IN THE FUNDAMENTAL ATTRIBUTES OF MIRAE ASSET CASH MANAGEMENT FUND

Investors / Unit holders are requested to take note that Mirae Asset Trustee Company Private Limited (‘the Trustee Company’) has approved the following changes in fundamental attributes of Mirae Asset Cash Management Fund (‘the Scheme’) with effect from 7th March, 2014:

Mirae Asset Cash Management Fund, an open ended liquid scheme
Existing: Investment Objective: The investment objective of the scheme is to generate returns linked to short end rates like MIBOR and CBLO etc. and provide higher liquidity by investing in a portfolio of short duration certificate of deposits issued by scheduled commercial banks. The Scheme does not guarantee any returns.



Asset Allocation Instruments Indicative allocations (% of total assets) Risk Profile
Minimum Maximum
CBLO / Reverse Repo, Debt Instrument linked to short end rates such as MIBOR & MIBOR linked instruments 0% 100% Low
Certificate of deposits issued by Scheduled Commercial Banks with maturity upto 91 days only 0% 100% Low to Medium

Investment Strategy: The fund will be managed according to the investment objective; thereby seeking to generate returns linked to short term rates by investing in portfolio of short duration certificates of deposits issued by scheduled commercial banks and CBLO. The fund will maintain high liquidity for the purpose of meeting the liquidity requirements of the investors. The investment team will primarily use a bottom up approach with an importance to top down overlay to assess the quality of the security / instrument (including the financial health of the issuer) as well as the liquidity of the security and the impact of various macroeconomic policy changes such as monetary policy changes etc. Investments in certificates of deposits carry various risks such as interest rate risk, reinvestment risk, credit risk and liquidity risk etc. Whilst such risks cannot be eliminated, they may be minimized through diversification. The Scheme does not propose to underwrite issuances of securities of other issuers.

Proposed: Investment Objective: The investment objective of the scheme is to generate consistent returns with a high level of liquidity in a judicious portfolio mix comprising of money market and debt instruments. The Scheme does not guarantee any returns.

Asset Allocation Instruments Indicative allocations (% of total assets) Risk Profile
Minimum Maximum
Money Market Instruments (including Cash, Reverse Repo, and CBLO) MIBOR & MIBOR linked instruments. 20% 100% Low
Debt Instruments with residual maturity upto 91 days only 0% 80% Medium

Investment Strategy: The fund will be managed according to the investment objective to generate consistent returns with a high level of liquidity in a judicious portfolio mix comprising of money market and debt instruments. The intention is to offer superior returns at lower level of risk while maintaining the liquidity profile. The investment team will primarily use a bottom up approach with an importance to top down overlay to assess the quality of the security / instrument (including the financial health of the issuer) as well as the liquidity of the security and the impact of various macroeconomic policy changes such as monetary policy changes etc. Investments in Certificates of Deposits and Commercial Papers carry various risks such as interest rate risk, reinvestment risk, credit risk and liquidity risk etc. Whilst such risks cannot be eliminated, they may be minimized through diversification The Scheme does not propose to underwrite issuances of securities of other issuers. The Scheme will purchase securities in primary as well as secondary markets. The Scheme may also invest in securities offered by the issuer through private placements.

News Source – MIRAE AMC

4.RESIGNATION OF AMC DIRECTOR

Investors / Unit holders are advised to take note that Dr. Manoj Vaish has ceased to be an Additional Director (Independent) from the Board of Mirae Asset Global Investments (India) Private Limited (�the AMC�) with effect from 25th January, 2014. All references pertaining to Dr. Manoj Vaish in the Statement of Additional Information (SAI), stands deleted.

News Source – MIRAE AMC






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