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Mutual Fund News
Kotak MF announces change in load structure
Date : Feb-16-2009
Kotak Mutual Fund has announced the changes in load structure of Kotak Equity Arbitrage Fund, which will be effective from February 18, 2009. Accordingly, the scheme will not charge any entry load but the scheme will charge an exit load of 0.60% for investments less than or equal to Rs 2 crore, if redeemed on or before 90 days from the date of allotment of units.
However, for investments more than Rs 2 crore, it will charge an exit load of 0.50%, if redeemed on or before 30 days from the date of allotment of the units. Along with this, nil if redeemed after 30 days from the date of allotment of units.
Kotak Equity Arbitrage Fund is an open-ended equity growth scheme with an objective to generate capital appreciation as well as income by predominantly investing in arbitrage opportunities in the cash & derivatives segment as well as in debt and money market instruments.
Kotak MF declares dividend for quarterly interval plan
Date : Feb-16-2009
Kotak Mutual Fund has declared dividend under dividend option of Kotak Quarterly Interval Plan -Series 3. The record date for the same is February 19, 2009. The fund house has decided to distribute up to 100% distributable surplus as dividend on the record date on the face value of Rs 10 per unit. The scheme as on February 12, 2009 recorded a NAV of Rs 10.1308 per unit. The specified transaction period is on February 19, 2009. Kotak Quarterly Interval Plan -Series 3 is an interval debt scheme with an objective to generate returns by investing in debt as well as money market instruments.
JP Morgan MF changes name of its scheme
Date : Feb-16-2009
JP Morgan Mutual Fund has announced the change in the nomenclature of JP Morgan Indian Liquid Plus Fund to JP Morgan India Treasury Fund, with effect from February 18, 2009.
IDFC MF announces change in nomenclature
Date : Feb-16-2009
IDFC Mutual Fund has announced the change in the nomenclature of IDFC Liquid Plus Fund - Investment Plan (IDFC-LPF-IP) as well as IDFC Liquid Plus Fund - Treasury Plan (IDFC-LPF-TP) to IDFC Money Manager Fund - Investment Plan (IDFC-MMF-IP) and IDFC Money Manager Fund - Treasury Plan (IDFC-MMF-TP), with effect from February 14, 2009.
IDFC-LPF is an open ended income scheme that seeks to generate stable returns with a low risk strategy by creating a portfolio that consists of debt and money market instruments.
IDFC MF introduces the new investment plan
Date : Feb-16-2009
IDFC Mutual Fund has introduces the new investment plan- Plan C in IDFC Super Saver Income Fund - Investment Plan with effect from February 16, 2009. The schemes offer growth as well as dividend option. The dividend option further offers dividend payout and reinvestment scheme. The minimum application amount of the scheme is Rs 5000 and in multiples of Re 1 thereafter.
The offer Price is Rs 10 per unit and at applicable NAV thereafter. However, the scheme will not charge any entry load but there will be an exit load of 1.25% of NAV on investors who purchase / switch in and seek to redeem/switch out such units (irrespective of any amount) within 1 year such from the date of effecting such purchase/switch in. Investors opting for PEP/dividend reinvestment option /SWP or switch between options will not be levied an exit load.
Mutual funds step up selling
Date : Feb-14-2009
Mutual funds (MFs) sold shares worth a net Rs 203.50 crore on February 12, 2009, as against Rs 96.90 crore on February 11, 2009. The net outflow of MFs stood at Rs 203.50 crore on February 12, 2009 was a result of gross purchases Rs 133.90 crore as well as gross sales Rs 337.40 crore. MFs till February 12, 2009 were net seller of shares worth Rs 876.40 crore in this month.
HDFC MF changes name of the scheme
Date : Feb-14-2009
HDFC Mutual Fund has decided to change the name of HDFC Cash Management Fund-Savings Plus Plan to HDFC Cash Management Fund- Treasury Advantage Plan with effect from February 16, 2009. However, all other terms and conditions of the scheme shall remain unchanged. HDFC Cash Management Fund-Savings Plus Plan is an open ended income scheme with an aim to generate regular income through investment in debt securities as well as money market instruments.
Reliance MF declares dividend for Fixed Horizon Fund
Date : Feb-14-2009
Reliance Mutual Fund has announced dividend on the face value of Rs 10 per unit of Reliance Fixed Horizon Fund -XII -Series-14. The record date of the same is February 18, 2009. The fund will offer dividend for retail institutional as well as super institutional plans of scheme. The fund house has decided to distribute 100% of surplus available as on record date.
The NAV of scheme as on February 11, 2009 under retail plan was at Rs 10.2196 per unit, institutional plan was at Rs 10.2255 per unit and super institutional plan was at Rs 10.2302 per unit. Reliance Fixed Horizon Fund -XII -Series-14 is a close ended income scheme with an aim to generate regular returns as well as growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income /debt securities normally maturing in line with the time profile of the plan.
Mutual Fund News
Kotak MF announces change in load structure
Date : Feb-16-2009
Kotak Mutual Fund has announced the changes in load structure of Kotak Equity Arbitrage Fund, which will be effective from February 18, 2009. Accordingly, the scheme will not charge any entry load but the scheme will charge an exit load of 0.60% for investments less than or equal to Rs 2 crore, if redeemed on or before 90 days from the date of allotment of units.
However, for investments more than Rs 2 crore, it will charge an exit load of 0.50%, if redeemed on or before 30 days from the date of allotment of the units. Along with this, nil if redeemed after 30 days from the date of allotment of units.
Kotak Equity Arbitrage Fund is an open-ended equity growth scheme with an objective to generate capital appreciation as well as income by predominantly investing in arbitrage opportunities in the cash & derivatives segment as well as in debt and money market instruments.
Kotak MF declares dividend for quarterly interval plan
Date : Feb-16-2009
Kotak Mutual Fund has declared dividend under dividend option of Kotak Quarterly Interval Plan -Series 3. The record date for the same is February 19, 2009. The fund house has decided to distribute up to 100% distributable surplus as dividend on the record date on the face value of Rs 10 per unit. The scheme as on February 12, 2009 recorded a NAV of Rs 10.1308 per unit. The specified transaction period is on February 19, 2009. Kotak Quarterly Interval Plan -Series 3 is an interval debt scheme with an objective to generate returns by investing in debt as well as money market instruments.
JP Morgan MF changes name of its scheme
Date : Feb-16-2009
JP Morgan Mutual Fund has announced the change in the nomenclature of JP Morgan Indian Liquid Plus Fund to JP Morgan India Treasury Fund, with effect from February 18, 2009.
IDFC MF announces change in nomenclature
Date : Feb-16-2009
IDFC Mutual Fund has announced the change in the nomenclature of IDFC Liquid Plus Fund - Investment Plan (IDFC-LPF-IP) as well as IDFC Liquid Plus Fund - Treasury Plan (IDFC-LPF-TP) to IDFC Money Manager Fund - Investment Plan (IDFC-MMF-IP) and IDFC Money Manager Fund - Treasury Plan (IDFC-MMF-TP), with effect from February 14, 2009.
IDFC-LPF is an open ended income scheme that seeks to generate stable returns with a low risk strategy by creating a portfolio that consists of debt and money market instruments.
IDFC MF introduces the new investment plan
Date : Feb-16-2009
IDFC Mutual Fund has introduces the new investment plan- Plan C in IDFC Super Saver Income Fund - Investment Plan with effect from February 16, 2009. The schemes offer growth as well as dividend option. The dividend option further offers dividend payout and reinvestment scheme. The minimum application amount of the scheme is Rs 5000 and in multiples of Re 1 thereafter.
The offer Price is Rs 10 per unit and at applicable NAV thereafter. However, the scheme will not charge any entry load but there will be an exit load of 1.25% of NAV on investors who purchase / switch in and seek to redeem/switch out such units (irrespective of any amount) within 1 year such from the date of effecting such purchase/switch in. Investors opting for PEP/dividend reinvestment option /SWP or switch between options will not be levied an exit load.
Mutual funds step up selling
Date : Feb-14-2009
Mutual funds (MFs) sold shares worth a net Rs 203.50 crore on February 12, 2009, as against Rs 96.90 crore on February 11, 2009. The net outflow of MFs stood at Rs 203.50 crore on February 12, 2009 was a result of gross purchases Rs 133.90 crore as well as gross sales Rs 337.40 crore. MFs till February 12, 2009 were net seller of shares worth Rs 876.40 crore in this month.
HDFC MF changes name of the scheme
Date : Feb-14-2009
HDFC Mutual Fund has decided to change the name of HDFC Cash Management Fund-Savings Plus Plan to HDFC Cash Management Fund- Treasury Advantage Plan with effect from February 16, 2009. However, all other terms and conditions of the scheme shall remain unchanged. HDFC Cash Management Fund-Savings Plus Plan is an open ended income scheme with an aim to generate regular income through investment in debt securities as well as money market instruments.
Reliance MF declares dividend for Fixed Horizon Fund
Date : Feb-14-2009
Reliance Mutual Fund has announced dividend on the face value of Rs 10 per unit of Reliance Fixed Horizon Fund -XII -Series-14. The record date of the same is February 18, 2009. The fund will offer dividend for retail institutional as well as super institutional plans of scheme. The fund house has decided to distribute 100% of surplus available as on record date.
The NAV of scheme as on February 11, 2009 under retail plan was at Rs 10.2196 per unit, institutional plan was at Rs 10.2255 per unit and super institutional plan was at Rs 10.2302 per unit. Reliance Fixed Horizon Fund -XII -Series-14 is a close ended income scheme with an aim to generate regular returns as well as growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income /debt securities normally maturing in line with the time profile of the plan.
source: livemint.com
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