Latest Indian Mutual Fund News | 14-June-2011

Mutual Funds | admin | June 15, 2011 at 8:33 am

GENERAL

1.Sebi Board set to give its nod to Takeover Code.

The top brass of the Securities and Exchange Board of India (Sebi) has its plate full. At the next meeting of its board, scheduled later this month, the capital markets' regulator is expected to finally give a go-ahead to the proposed Takeover Code, which was pending for a long while. Also on the agenda are new norms for mutual fund distribution and the sensitive matter of the National Securities Depository Ltd, involving Sebi's former head. The Bimal Jalan report (on the ownership and functioning of market infrastructure institutions) is, however, unlikely to make it to the agenda.

News Source – BUSINESS STANDARD.

2.Short-term debt funds reduce rate volatility, offer good returns.

Short-term interest rates are currently elevated and the yield curve is likely to remain pressured, driven by higher inflationary expectations. The long-term interest rate scenario is uncertain, given the rapidly changing macro factors – both local and international, with the key variable being crude prices and their impact on the fiscal situation. This provides an ideal backdrop for investing in short-term debt funds. As the name suggests, short-term debt funds or short duration funds are mutual fund products investing in debt securities that lie at the shorter end of the maturity spectrum.

News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

3.Principal Pnb Fixed Maturity Plan – Series 3 Floats On.

Principal Mutual Fund has launched a new fund named as Principal Pnb Fixed Maturity Plan – Series 3, a close ended debt scheme offering Fixed Maturity Plan having maturity of 367 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 14 June and closes on 20 June 2011.

News Source – NAV INDIA.