Latest Indian Mutual Fund News | 29-Apr-2014

1.SEBI settles only 36 cases through consent orders in FY14

 

The SEBI (Securities and Exchange Board of India) said that it has settled 36 cases through consent settlement mechanism in the last fiscal (FY14) as against 52 cases during the preceding financial year 2012-13. The regulator has collected about Rs. 4.15 crore as charges and fees through the consent settlement in 36 cases, whereas it had collected around Rs. 12.62 crore through settlement in FY13.

News Source – India Infoline

NEW FUND OFFER

2.Franklin Templeton MF introduces India Feeder – Franklin European Growth Fund

 

Franklin Templeton Mutual Fund has launched the New Fund Offer (NFO) of Franklin Templeton India Feeder – Franklin European Growth Fund, a close ended income scheme. The NFO opens for subscription on Apr 25, 2014 and closes on May 09, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000.

News Source – Live mint

DIVIDEND

3.Pramerica Fixed Duration Fund – Series 17 Announces Dividend

 

Pramerica Mutual Fund has announced 01 May 2014 as the record date for declaration of dividend under the regular plan-dividend option and direct plan-dividend option of the Pramerica Fixed Duration Fund-Series 17, a close ended debt scheme. The gross dividend (Rs per unit) will be entire distributable surplus as on the record date on the face value of Rs 1000 per unit.

News Source – India Infoline

GENERAL

4.Franklin Infotech Fund announces change in NAV declaration timing

 

Franklin Templeton Mutual Fund has announced changes in Net Asset Value (NAV) declaration timing of Franklin Infotech Fund with effect from 05 May 2014. Franklin Infotech Fund is an open-end growth scheme with the investment objective to provide long-term capital appreciation by investing primarily in the information technology industry. As per the asset allocation pattern of the scheme, it is permitted to invest in overseas securities to the extent of 30% of its corpus.

News Source – India Infoline

5.Assets with portfolio managers rise to Rs 7.68 lakh crore

 

Assets under management (AUM) of portfolio managers have risen to Rs. 7.68 lakh crore in March 2014, according to the latest data available with the Securities and Exchange Board of India (SEBI). Assets under management of portfolio managers have gone up from 752775 crore in February to Rs. 768326 crore at the end of March. They had touched a record level of Rs. 958121 crore in August, 2013. The total AUM has nearly doubled since the data was first released by SEBI in December, 2010.

News Source – .Nav India

 

GENERAL

6.Peerless MF announces change in the fund manager

 

Peerless Mutual Fund has appointed Vishal Jain as Fund Manager Equity. Accordingly, Peerless Income Plus Fund, the Peerless MF Child Plan and Peerless Equity Fund will be managed by Vishal Jain together with Malay Shah.

News Source – Mutual Fund India

7.SAT to hear appeal against the SEBI order for mutual fund distributors

 

The Securities Appellate Tribunal has admitted a petition by the Financial Planning Supervisory Foundation against the Securities and Exchange Board of India’s (SEBI) decision to allow the Institute of Mutual Fund Intermediaries (IMFI) to act as a self-regulatory organization for mutual fund distributors. SEBI had given IMFI an in-principle approval on February 6 although it had applied for the permit before being registered as a company with the Corporate Affairs Ministry.

News Source – Mutual Fund India

NEW FUND LAUNCH

8.Reliance Horizon Fund – XXVI – Series 17 Floats On

 

Reliance Mutual Fund launches a new fund named as Reliance Fixed Horizon Fund – XXVI – Series 17, a close ended income scheme with the duration of 369 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 23 April to 28 April 2014.

News Source – Nav India

9.Axis Hybrid Fund – Series 14 – 17 files offer document with SEBI

 

The Axis Mutual Fund has filed offer document with Sebi to launch Axis Hybrid Fund – Series 14 – 17, 1 to 5 years close-ended debt scheme. The New Fund Offer price is Rs 10 per unit. Investment objective: To generate income by investing in high quality fixed income securities that are maturing on or before the maturity of the scheme whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.

News Source – Nav India

10.Axis Fixed Term Plan – Series 68 – 72 files offer document with SEBI

 

Axis Mutual Fund has filed offer document with Sebi to launch Axis Fixed Term Plan – Series 68 – 72, a close-ended debt scheme. The New Fund Offer price is Rs 10 per unit. Tenure of the plans will be from 1 month to 60 months. Investment objective: The plan(s) of the scheme will endeavour to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the respective plan(s).

News Source – Nav India

 

NEW FUND OFFER

11.Religare Invesco Fixed Maturity Plan – Series 23 – Plan K (775 Days) Extends NFO period

 

Religare Invesco Mutual Fund has decided to extend the closing date of the New Fund Offer (NFO) period of Religare Invesco Fixed Maturity Plan-Series 23-Plan K (775 Days), a close ended debt scheme from 23 April 2014 to 30 April 2014.

News Source – Nav India

DIVIDEND

12.Reliance Dual Advantage Fixed Tenure Fund I – Plan J Announces Dividend

 

Reliance Mutual Fund has announced 28 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend payout option of Reliance Dual Advantage Fixed Tenure Fund I – Plan J. The amount of the dividend will be entire distributable surplus available in the scheme as on the record date.

News Source – Nav India

13.Reliance Yearly Interval Fund Series 7 Announces Dividend

 

Reliance Mutual Fund has announced 09 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under Dividend Plan and Direct Plan-Dividend Plan of Reliance Yearly Interval Fund Series 7. The amount of the dividend will be Rs 0.0001 per unit.

News Source – Nav India

GENERAL

14.BOI AXA Mutual Fund announces changes

 

BOI AXA Mutual Fund has announced the introduction of a top-up facility under the Systematic Investment Plan (SIP) with effect from 23 April 2014. Under this facility, the investor can opt to increase the amount of the SIP installment (�Top-up�) on a half-yearly or annual basis; thus the investment amount under SIP will increase every half year / annually by the amount of Top-up specified by the investor.

News Source – Nav India

15.Religare Invesco MF Announces Change In Key Personnel

 

Religare Invesco Mutual Fund has announced that Debraj Lahiri, who is a Credit Analyst – Fixed Income for the fund, is now transferred to Portfolio Management Services (PMS) division of Religare Invesco Asset Management Company Pvt. Ltd., with effect from 23 April 2014.

News Source – Nav India

 

DIVIDEND

16.UTI Fixed Income Interval Fund – Series II – Quarterly Interval Plan IV Announces Dividend

 

UTI Mutual Fund has announced 28 April 2014 as the record date for declaration of dividend under the dividend sub option of UTI Fixed Income Interval Fund Series – II Quarterly Interval Plan IV. The rate of dividend (Rs per unit) will be 100% of distributable surplus as on the record date on the face value of Rs 10 per unit.

News Source – India Infoline

GENERAL

17.Baroda Pioneer AMC appoints Mahmood Basha as Head of Sales

 

Baroda Pioneer Asset Management Company Limited has announced the appointment of Mahmood Basha as Head of Sales effective 15th April 2014. At Baroda Pioneer AMC, Mr. Basha will be responsible for the entire sales and distribution strategy of the company.

News Source – India Infoline

18.Deutsche MF announces change in the share class of Underlying Fund, DWS Invest Top Euroland Fund of DWS Top Euroland Offshore Fund

 

Deutsche Mutual Fund has announced that the share class of the Underlying Fund i.e. DWS Invest Top Euroland Fund, in which DWS Top Euroland Offshore Fund (an open ended overseas fund of funds scheme) invests will be changed from FC to IC share class with effect from 25 April 2014.

News Source – Nav India

NEW FUND LAUNCH

19.Axis Hybrid Fund Series 11 Floats On

 

Axis Mutual Fund has launched a new fund named as Axis Hybrid Fund Series 11, a 42 months close ended income scheme. During the New Fund Offer (NFO) period the units will be offered for Rs 10 each. The new issue is open for subscription from 21 April and close subscription on 02 May 2014.

News Source – India Infoline

20.Franklin Templeton India to launch a feeder into the European Growth Fund

 

Franklin Templeton Investments (India) is launching an open end fund-of-funds scheme called Franklin India Feeder-Franklin European Growth Fund (FIF-FEGF). The fund will invest into the Luxembourg-domiciled Franklin European Growth Fund (underlying fund), an overseas equity fund which primarily invests in securities of issuers incorporated or having their principal business in European Countries.

News Source – India Infoline

 

DIVIDEND

21.Edelweiss Mutual Fund Announces Dividend Under Two Schemes

 

Edelweiss Mutual Fund has announced 25 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend option of following schemes. The quantum of dividend will be: Edelweiss Short Term Income Fund: Re. 0.20 per unit, Edelweiss Absolute Return Fund: Re. 0.22 per unit.

News Source – Nav India

22.UTI Fixed Maturity Plan Yearly Series Announces Dividend

 

UTI Mutual Fund has announced 25 April 2014 as the record date for declaration of dividend under dividend option of UTI Fixed Maturity Plan Yearly Series (YEMP 03/13). The rate of dividend (Rs per unit) will be 100% of distributable surplus as on the record date on the face value of Rs 10 per unit.

News Source – Nav India

GENERAL

23.MFs garnered Rs 54,000 crore in 2013-14

 

Investors pumped in nearly Rs 54,000 crore in various mutual fund schemes in 2013-14, 30 per cent lower than the amount infused by them in the preceding fiscal. However, industry experts believe that fund mobilization in mutual fund schemes is expected to grow in the coming months.

News Source – My Digital Financial Chronicle

24.Mutual Funds witness 30% decline in net inflows in FY14

 

Gross Mobilization by the mutual fund (MF) industry increased by 34% (by Rs 25 lakh crore) to Rs 97.68 lakh crore in 2013-14 as against the mobilization of Rs 72.68 lakh crore in 2012-13, due to rise in the mobilization of Private Sector Mutual Funds, UTI and other Public Sector Mutual Funds. Redemptions from the industry increased by 35% (by Rs 25.23 lakh crore) to Rs 97.14 lakh crore in 2013-14. The rise in redemption was seen across the category in 2012-13, when compared with the previous year.

News Source – Nav India

 

NEW FUND OFFER

25.LIC Nomura MF introduces Capital Protection Oriented Fund Series 3 (37 Months)

 

LIC Nomura Mutual Fund has launched the New Fund Offer (NFO) of LIC Nomura Capital Protection Oriented Fund Series 3 (37 Months), a close ended income scheme. The NFO opens for subscription on Apr 21, 2014 and closes on May 5, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000 & thereafter multiples of 1 during NFO.

News Source – Live mint

26.Principal MF introduces Fixed Maturity Plan -Series B16

 

Principal Mutual Fund has launched the New Fund Offer (NFO) of Principal Fixed Maturity Plan -Series B16, a close ended income scheme. The NFO opens for subscription on Apr 21, 2014 and closes on Apr 29, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000.

News Source – Live mint

27.Reliance MF introduces Fixed Horizon Fund- XXVI- Series 16

 

Reliance Mutual Fund launches the New Fund Offer (NFO) of Reliance Fixed Horizon Fund- XXVI- Series 16, a close ended income scheme. The NFO opens for subscription on Apr 21, 2014 and closes on Apr 28, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.

News Source – Live mint

DIVIDEND

28.Franklin Templeton Fixed Tenure Fund – Series XII – Plan C Announces Dividend

 

Franklin Templeton Mutual Fund has announced 25 April 2014 as the record date for declaration of dividend under the dividend option of Franklin Templeton Fixed Tenure Fund – Series XII – Plan C. The amount of the dividend (Rs per unit) on the face value of Rs 10 per unit will be: Individuals & HUF-0.389, Others-0.373.

News Source – Nav India

29.Reliance Yearly Interval Fund Series 7 Announces Dividend

 

Reliance Mutual Fund has announced 25 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under the following plans/options of Reliance Yearly Interval Fund Series 7. The amount of the dividend (Rs per unit) on the face value of Rs 10 per unit will be: Reliance Yearly Interval Fund Series 7-Dividend Plan: 0.8469, Reliance Yearly Interval Fund Series 7-Direct Plan-Dividend Plan: 0.8523.

News Source – Nav India

NEW FUND OFFER

30.Religare Invesco Fixed Maturity Plan -Series 24 – Plan A to O files offer document with SEBI

 

Religare Invesco Mutual Fund has filed offer document with SEBI to launch Religare Invesco Fixed Maturity Plan -Series 24 – Plan A to O, a close-ended debt scheme. The New Fund Offer price is Rs 10 per unit. The scheme offers plans of tenure from 1 month to 60 months from the date of allotment of the respective Plan(s) (including the date of allotment). Investment objective: To generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.

News Source – Nav India

31.Reliance MF introduces Fixed Horizon Fund XXVI- Series 15

 



Reliance Mutual Fund launches the New Fund Offer (NFO) of Reliance Fixed Horizon Fund XXVI- Series 15, a close ended income scheme. The NFO opens for subscription on Apr 17, 2014, and closes on Apr 22, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.

News Source – Live mint

DIVIDEND

32.UTI-Opportunities Fund Announces Dividend

 

UTI Mutual Fund has announced 22 April 2014 as the record date for declaration of dividend under the Dividend Option Existing Plan & Dividend Option Direct Plan of UTI-Opportunities Fund. The quantum of dividend on the face value of Rs 10 per unit will be Rs 1.25 per unit or 12.5%.

News Source – Nav India

33.LIC Nomura MF FMP Series – 60 Announces Dividend

 

LIC Nomura Mutual Fund has announced 22 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under the regular plan dividend option and direct plan dividend option of LIC Nomura MF FMP Series – 60. The quantum of dividend will be entire distributable surplus as on the record date.

News Source – Nav India

GENERAL

34.Goldman Sachs Mutual Fund announces changes in GS Gold BeES

 

Goldman Sachs Mutual Fund has announced changes in asset allocation of Goldman Sachs Gold Exchange Traded Scheme (GS Gold BeES), in accordance with the SEBI circular to include Gold Deposit Scheme (GDS) of banks in the investible universe of Gold Exchange Traded Scheme.

News Source – Nav India

 

NEW FUND OFFER

35.Reliance MF introduces Fixed Horizon Fund-XXVI-Series 14

 

Reliance Mutual Fund launches the New Fund Offer (NFO) of Reliance Fixed Horizon Fund-XXVI-Series 14, a close ended income scheme. The NFO opens for subscription on Apr 16, 2014 and closes on Apr 28, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000 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.

News Source – Live mint

36.LIC Nomura MF introduces Fixed Maturity Plan Series 81 (371 Days)

 

LIC Nomura Mutual Fund has launched the New Fund Offer (NFO) of LIC Nomura MF Fixed Maturity Plan Series 81 (371 Days), a close ended income scheme. The NFO opens for subscription on Apr 17, 2014, and closes on Apr 22, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 10000 & thereafter multiples of Rs 10 during NFO.

News Source – Live mint

37.Deutsche MF introduces Fixed Maturity Plan- Series 67

 

The Deutsche Mutual Fund has launched the New Fund Offer (NFO) of DWS Fixed Maturity Plan- Series 67, a close ended income scheme. The NFO opens for subscription on Apr 17, 2014 and closes on Apr 21, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000.

News Source – Live mint

38.Deutsche MF introduces Fixed Maturity Plan- Series 64

 

The Deutsche Mutual Fund has launched the New Fund Offer (NFO) of DWS Fixed Maturity Plan- Series 64, a close ended income scheme. The NFO opens for subscription on Apr 16, 2014 and closes on Apr 30, 2014. No entry load or exit load will be applied for the scheme. The minimum subscription amount is Rs 5000. The scheme’s performance will be benchmarked against CRISIL Composite Bond Fund Index and its fund manager is Rakesh Suri.

News Source – Live mint

DIVIDEND

39.UTI Fixed Term Income Fund-Series XV-I (368 Days) Announces Dividend

 

UTI Mutual Fund has announced 21 April 2014 as the record date for declaration of dividend under dividend option of UTI Fixed Term Income Fund-Series XV – I (368 Days). The rate of dividend (Rs per unit) will be 100% of distributable surplus as on the record date on the face value of Rs 10 per unit.

News Source – Nav India

 

NEW FUND OFFER

40.Principal Pnb Mutual Fund files offer document for Fixed Maturity Plan-Series B23

 

The Principal Pnb Mutual Fund has filed offer document with SEBI to launch a close ended debt scheme named as “Principal Pnb Fixed Maturity Plan-Series B23”. The New Fund Offer price is Rs 10 per unit. Entry and exit load charges will be nil for the scheme. The Minimum Target Amount of Rs 20 crore.

News Source – Indian-Commodity

41.Religare Invesco Mutual Fund files offer document for Fixed Maturity Plan -Series 24-Plan A to O

 

Religare Invesco Mutual Fund has filed offer document with SEBI to launch a close ended debt scheme named as “Religare Invesco Fixed Maturity Plan-Series 24-Plan A to O”. The New Fund Offer price is Rs 10 per unit. Entry and exit load charges will be nil for the scheme. The Minimum Target Amount of Rs 20 crore.

News Source – Indian-Commodity

GENERAL

42.Mutual funds in buying mode

 

Mutual funds (MFs) bought shares worth a net Rs 80.40 crore on Friday, 11 April 2014, compared with a net outflow of Rs 96.80 crore on Thursday, 10 April 2014. The net inflow of Rs 80.40 crore on Friday, 11 April 2014, was a result of gross purchases of Rs 701 crore and gross sales of Rs 620.60 crore. The S&P BSE Sensex had shed 86.37 points or 0.38%, to settle at 22,628.96 on that day, its lowest closing level since 7 April 2014.

News Source – Nav india

NEW FUND LAUNCH

43.Religare Invesco MF launches new fund of funds scheme

 

Religare Invesco Mutual Fund today launched a new open-ended fund of funds scheme ‘Religare Invesco Global Equity Fund’. The new fund offer, which opens for subscription today, will close on April 28, 2014.

News Source – My Digital Financial Chronocle

44.Deutsche MF Launches DWS Hybrid Fixed Term Fund Series 21

 

The Deutsche Mutual Fund has unveiled a new fund named as DWS Hybrid Fixed Term Fund – Series 21, 39 months close ended debt fund. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will be open for subscription from 16 April and closes on 30 April 2014. The objective of the fund is to generate income by investing in fixed income securities maturing on or before the date of the maturity of the scheme and to generate capital appreciation by investing in equity and equity related instruments.

News Source – Nav India

 

NEW FUND OFFER

45.BOI AXA Mutual Fund introduces Fixed Maturity Plan – Series 14

 

BOI AXA Mutual Fund has launched the New Fund Offer (NFO) of BOI AXA Fixed Maturity Plan – Series 14, a close ended income scheme. The NFO opens for subscription on Apr 15, 2014 and closes on Apr 22, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Rs 1 thereafter. The scheme’s performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund manager is Alok Singh.

News Source – Live mint

GENERAL

46.Mutual fund folios decline by near 33 lakh in FY14

 

Mutual fund industry registered around 3.95 crore folios in FY 2013-14, marking a fall near 33 lakh folios from FY 2012-13. The fall can be attributed to profit booking along with scheme mergers. The mutual fund industry lost 32.79 lakh investor accounts in FY14. The last financial year also marked the fifth consecutive year of loss of folios by mutual funds.

News Source – Nav India

47.Franklin Templeton MF Announces Change in Key Personnel

 

Franklin Templeton Mutual Fund has announced that Kunal Agarwal, Assistant Vice President has been appointed as the Fund Manager in Fixed Income Team of Franklin Templeton AMC, with effect from 15 April 2014. He is aged 35 years and holds B.Tech (IIT-Delhi), PGDM (IIM-Calcutta) as his educational qualification. Templeton India Low Duration Fund and Templeton India Short-Term Income Fund are jointly managed by Santosh Kamath & Kunal Agarwal.

News Source – Nav India

NEW FUND LAUNCH

48.Axis Fixed Term Plan-Series 64 (715 days) floats on

 

Axis Mutual Fund has launched a new plan named as Axis Fixed Term Plan – Series 64 (715 Days), a close ended debt scheme. The duration of the scheme is 715 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 April to 21 April 2014. The plan of the scheme will endeavor to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the plan.

News Source – Nav India

49.UTI Fixed Term Income Fund Series XVIII – VIII (366 days) floats on

 

UTI Mutual Fund has launched a new fund named as UTI – Fixed Term Income Fund – Series XVIII – VIII (366 Days), a close ended income scheme. The duration of the scheme is 366 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 15 April will close on 21 April 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.

News Source – Nav India

DIVIDEND

50 Axis Triple Advantage Fund Announces Dividend

 

Axis Mutual Fund has announced 17 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under dividend option of Axis Triple Advantage Fund. The quantum of dividend (Rs per unit) will be Re. 0.60 per unit.

News Source – Nav India

51.Reliance Fixed Horizon Fund XXIII Series 1 Announces Dividend

 

Reliance Mutual Fund has announced 17 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend payout option & direct plan-dividend option of Reliance Fixed Horizon Fund XXIII Series 1. The amount of dividend will be entire distributable surplus available in the scheme as on the record date.

News Source – Nav India

52.Reliance Mutual Fund Announces Dividend under Its Schemes

 

Reliance Mutual Fund has announced 16 April 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend payout option of Reliance Fixed Horizon Fund XXII Series 37, dividend payout option & direct plan-dividend payout option of Reliance Fixed Horizon Fund – XXII Series 38 and dividend payout option & direct plan-dividend payout option of Reliance Fixed Horizon Fund – XXIII Series 2. The amount of dividend will be entire distributable surplus available in the scheme as on the record date.

News Source – Nav India

GENERAL

53.Mutual funds asset dips by 10 percent in March

 

After touching an all-time high asset under management of Rs. 9.16 lakh crore in February, the AUM of mutual fund industry went down sharply to Rs. 8.25 lakh crore, a fall of 10% or 91,152 crore in March. The AMFI data shows that the industry has witnessed net outflow of Rs. 1.09 lakh crore, highest monthly outflow since March 2011, due to huge redemption from equity and liquid funds.

News Source – Caf� Mutual

NEW FUND LAUNCH

54.Religare Invesco Fixed Maturity Plan – Series 23 – Plan J (370 Days) Floats On

 

Religare Invesco Mutual Fund has launched a new fund named as Religare Invesco Fixed Maturity Plan – Series 23 – Plan J (370 Days), a close ended debt scheme. The tenure of the scheme is 370 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription on 11 April and closes on 15 April 2014. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.

News Source – Nav India

55.LIC Nomura MF Fixed Maturity Plan – Series 80 Floats On

 

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 80, a close ended income scheme with the duration of 366 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 April to 15 April 2014. The investment objective of the scheme is to minimize interest rate risk by investing in a portfolio of fixed income securities which mature on or before the date of the maturity of the scheme.

News Source – Nav India

56.MFs’ exposure to bank stocks hit 14 month high at Rs 40,293 crore

 

Fund managers raised their exposure in bank stocks to a 14-month high of over Rs 40,293 crore in March this year amid rising equities market. According to the latest data available with market regulator SEBI, mutual fund (MF) investments in banking stocks reached Rs 40,293 crore as on March 31, 2014, accounting for 19.76 per cent of their total equity assets under management (AUM) of Rs 2.04 lakh crore.

News Source – My Digital Financial Chronicle

 

DIVIDEND

57.Pramerica Income Fund announces dividend

 

Pramerica Mutual Fund has announced dividend under the quarterly dividend option of Pramerica Income Fund. The record date for declaration of dividend is April 10, 2014. The amount of dividend (Rs per unit) on the face value of Rs 1000 per unit will be: Pramerica Income Fund – Regular Plan: Rs 6.3014 per unit Pramerica Income Fund – Direct Plan: 6.3644 per unit.

News Source – Money Control

58.UTI Fixed Term Income Fund-Series XIV-IV (408 Days) Announces Dividend

 

UTI Mutual Fund has announced 16 April 2014 as the record date for declaration of dividend under dividend option of UTI Fixed Term Income Fund-Series XIV – IV (408 Days). The rate of dividend (Rs per unit) will be 100% of distributable surplus as on the record date on the face value of Rs 10 per unit.

News Source – Nav India

GENERAL

59.AUM of Indian mutual fund industry decreased by 9.95% in March

 

The Assets Under Management (AUM) of the Indian mutual fund industry decreased by 9.95% in March to Rs. 8,25,240 crore against Rs. 9,16,393 crore recorded in February. The other ETF category witnessed the maximum rise in the AUM while the maximum decline was seen in the AUM of Liquid category, which fell by 46.86% in March.

News Source – Mutual Fund India

NEW FUND LAUNCH

60.Religare Invesco Global Equity Income Fund Floats On

 

Religare Invesco Mutual Fund has launched a new fund named as Religare Invesco Global Equity Income Fund, an open ended fund of funds scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 15 April to 28 April 2014. The investment objective of the scheme is to provide capital appreciation and / or income by investing predominantly in units of Invesco Global Equity Income Fund, an overseas equity fund which invests primarily in equities of companies worldwide.

News Source – Nav India

61.Motilal Oswal MF launches new open-ended equity scheme

 

Motilal Oswal Mutual Fund has launched a new open-ended diversified equity scheme – Most Focused Multicap 35 Fund. The new scheme seeks to achieve long-term capital appreciation by primarily investing in a maximum of 35 equity and equity-related instruments across sectors and market capitalisation levels, a company release said. The new fund offer, which opened for subscription from April 7, will close on April 17, 2014.

News Source – My Digital Financial Chronicle






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