Tata Mutual Fund has launched a new fund namely; Tata Capital Protection Oriented Fund Series I (3 Years), a close-ended debt scheme with the duration of 3 years from the date of allotment. The face value of the scheme is Rs. 10 per unit. The new issue will be open for subscription from 16th May 2012 and closes on 30th May 2012. The investment objective of the scheme is to seek income and minimize risk of capital loss by investing in a portfolio of fixed income securities. The performance of the scheme will be benchmarked against CRISIL MIP Blended Index and will be jointly managed by Mr. Thomas J Priju (for Equity portion) and Mr. Marzban Irani (for Debt portion).
Franklin Templeton Mutual Fund has announced dividend under FT India Balanced Fund. The quantum of dividend for distribution will be Rs. 2.00 per unit on the face value of Rs. 10 per unit. The record date for dividend distribution has been fixed as 18th May 2012.
Fidelity Mutual Fund has announced the change in key personnel, with effect from 12th May 2012. Accordingly, Mr. Pradeep Paul will be designated as the Investor Relations Officer in place of Mr. Vikram Soni.
L&T Mutual Fund has announced to introduce the daily dividend reinvestment plan under regular plan of L&T Ultra Short Term Fund. Now, this scheme will have monthly as well as semi-annual dividend (reinvestment and payout) option, cumulative and daily dividend reinvestment plan. Also, the AMC has revised the minimum application amount for first purchase under regular plan of L&T Ultra Short Term Fund. The revised minimum application amount will be Rs. 5000 per application and in multiples of Rs. 1 thereafter. The aforesaid changes will be effective from 16th May 2012.
Canara Robeco Mutual Fund has announced to revise exit load structure under Canara Robeco Income and Canara Robeco Short Term Fund. Accordingly, an exit load of 1% will be charged if units are redeemed or switched out within 12 months from the date of allotment for Canara Robeco Income. Under Canara Robeco Short Term Fund the revised exit load of 0.75% will be charged if units are redeemed or switched out within 6 months from the date of allotment. The revised structure of exit load will be effective from 14th May 2012.
Baroda Pioneer Mutual Fund has announced to revise the asset allocation pattern of Baroda Pioneer Short Term Bond Fund, with effect from 15th June 2012. Accordingly, the scheme will invest 65% to 100% of assets in debt and money market instruments with a residual maturity of upto 24 months. On the other side, it will invest upto 35% of assets in debt instruments with a residual maturity greater than 24 months and less than 60 months. Investor will have an option to exit without paying any exit load between 11th May 2012 and 10th June 2012.
Deutsche Mutual Fund has announced to change the minimum investment amount for DWS Premier Bond Fund, an open ended debt scheme, with effect from 9th May 2012. Accordingly, the revised minimum investment amount will be Rs. 5 crore in multiplies of Re. 1 thereafter.
HDFC Mutual Fund has announced the change in fund management responsibilities, with effect from 10th May 2012. Accordingly, Mr. Miten Lathia has been appointed as the Co-Fund Manager of HDFC Capital Builder Fund along with Mr. Chirag Setalvad. Furthermore, Mr. Miten Lathia will be re-designated as Fund Manager for Equities. Mr. Lathia has ceased to be the Fund Manager for Overseas Investments. Mr. Rakesh Vyas, currently Senior Equity Analyst, will be re-designated as Fund Manager for Foreign Equities.
Daiwa Mutual Fund has announced the appointment of Mr. N. Sethuram Iyer as the Chief Executive Officer (CEO) of the AMC, with effect from 1st May 2012. Prior to taking over this role, he was the Chief Investment Officer (September 2008 to April 2012) of the AMC. Moreover, Mr. Piyush Surana has ceased to be the Chief Executive Officer (CEO) of AMC, effective from 30th April 2012.
ICICI Prudential Mutual Fund has launched the SIP Insure facility, with effect from 4th May 2012. It is an optional feature in addition to the Systematic Investment Plan (SIP). The premium will be borne by AMC. This facility will be available under all the equity schemes.
IDFC Mutual Fund has announced to change the minimum subscription amount for IDFC Super Saver Income Fund-Short Term Plan D, with effect from 7th May 2012. Accordingly, the revised minimum subscription amount will be Rs. 15 crore in multiplies of Re. 1.
Union KBC Mutual Fund has announced a change in the minimum period requirement for Systematic Investment Plan (SIP), with effect from 2nd May 2012. Accordingly, the SIP will have to be done for minimum 6 months instead of 12 months in case of monthly SIP & for 2 quarters instead of 4 quarters in case of quarterly SIP.
SBI Mutual Fund has announced change in fund management responsibilities, with effect from 20th April 2012. Accordingly, Mr. R. Arun will manage SBI Magnum Insta Cash Liquid Floater, SBI Magnum Income Floating Rate Savings Plus Bond and SBI Magnum Income Floating Rate Long-term plan.
BNP Paribas Mutual Fund has launched a new fund namely, BNP Paribas Income & Gold Fund, an open ended debt scheme. The face value of the scheme is Rs. 10 per unit. The new issue will be open for subscription from 17th May 2012 and closes on 31st May 2012. The investment objective of the scheme seeks to generate income from a portfolio constituted of debt and money market securities, along with investments in Gold Exchange Traded Funds (ETFs). The performance of the scheme will be benchmarked against Crisil Short Term Bond Fund Index + Price of Gold (neutral allocation: 75:25) and will be managed by Mr. Puneet Pal.
Principal Mutual Fund has announced change in asset allocation pattern of Principal Bank CD Fund, with effect from 1st June 2012. Accordingly, the scheme will invest up to 90% in Bank CDs with medium to high risk profile, up to 90% in repo, CBLO, units of money market/liquid funds with low to medium risk profile and 10%-20% in debt instruments with medium to high risk profile.
Deutsche Mutual Fund has announced to revise exit load structure under DWS Premier Bond Fund. Accordingly, an exit load of 1% will be charged if units are redeemed or switched out within 1 year from the data of allotment. The revised exit load structure will be effective from 9th May 2012.
Escorts Mutual Fund has announced dividend under Escorts Short Term Debt Fund, Escorts Income Bond Fund, Escorts Income Plan and Escorts High Yield Equity Plan on the face value of Rs. 10 per unit. The quantum of dividend will be Re. 0.11 per unit for Escorts Short Term Debt Fund, Re. 0.10 per unit for Escorts Income Bond Fund, Re. 0.092 per unit for Escorts Income Plan and Rs. 0.40 per unit for Escorts High Yield Equity Plan. The record date for dividend distribution will be 02nd May 2012.
Kotak Mutual Fund has announced to revise exit load structure under Kotak Equity Arbitrage Fund. Accordingly, an exit load of 0.50% will be charged if units are redeemed within 6 months from the data of allotment and nil if redeemed or switched out after 180 days from the date of allotment irrespective of the amount of investment. The revised exit load structure will be effective from 1st May 2012. Bonus units and units issued on reinvestment of dividends shall not be subject to exit load.
Deutsche Mutual Fund has announced change in fund management responsibilities under DWS Insta Cash Plus Fund and DWS Treasury Fund - Cash Plan, with effect from 2nd May 2012. Accordingly, Mr. Rakesh Suri will be the Co-Fund Manager of DWS Insta Cash Plus and DWS Treasury Cash Plan in place of Mr. Nitish Gupta. Mr. Gupta will continue to be the fund manager for other debt/income schemes.