Latest Indian Mutual Funds | 21-Mar-2011

Mutual Funds | admin | March 22, 2011 at 8:24 am

1.IDFC Mutual Fund announces dividend under its Tax Advantage Fund.

IDFC Mutual Fund has declared dividend under IDFC Tax Advantage (ELSS) Fund. The quantum of dividend for distribution is Rs 1 per unit. The investment objective of the scheme is to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. The record date for dividend distribution is 23rd March 2011.

News Source – MUTUAL FUND INDIA.

GENERAL

2.MFs' investment in banks back to earlier highs, auto loses fancy.

Mutual funds are again showing interest in banking stocks, while the automobile sector continues to lose the fancy of fund managers. With over 10 per cent correction in the banking index during the first two months of the current calendar year, fund houses' exposure of total equity assets under management in bank shares is close to the October highs.

According to the Securities and Exchange Board of India (Sebi), mutual funds have upped their exposure to the banking sector by 66 basis points (one basis point is one hundredth part of a percentage), to 16.78 per cent in February from 16.12 per cent in December.

News Source – BUSINESS STANDARD.

NEW FUND LAUNCH

3.Canara Robeco MF Launches 13 Months Fixed Maturity Plan.

Canara Robeco Mutual Fund has launched a new fund named as Canara Robeco Fixed Maturity Plan – Series 6 – 13 Months (Plan B), a close ended fixed maturity debt scheme with the duration of 13 months from the date of allotment of units. During the New Fund Offer (NFO) period, units will be offered at Rs 10 per unit. The new issue is open for subscription from 21 March and closes on 24 March 2011.

News Source – NAV INDIA.

DIVIDEND

1.Reliance Mutual Fund announces dividend under Reliance Growth Fund and Reliance Quant Plus Fund.

Reliance Mutual Fund has declared dividend under dividend options of Reliance Growth Fund and Reliance Quant Plus Fund, with 24 March 2011 being the record date for both the schemes. For Reliance Growth Fund, the quantum of dividend will be Rs 4 per unit for retail plan and institutional plan. For Reliance Quant Plus Fund, the quantum of dividend will be Rs 2.50 per unit.

News Source – MUTUAL FUND INDIA.

GENERAL

2.Investors flocking to short-term assets: Fidelity.

Mutual fund house Fidelity International India said domestic fixed income investors are increasingly going in for short-term products and keep shuffling from one fund to another, besides preferring individual stocks over industry segments. "The fixed income products, especially those in the short-term cash segment, are growing at a faster pace now, as investors are looking for more stable income and expect positive returns in all market conditions besides keen on preserving their hard-earned capital," Fidelity International India Country Head Ashu Suyash.

News Source – ECONOMIC TIMES.