Mutual Fund News 14-Mar-2011

Mutual Funds | admin | March 15, 2011 at 10:01 am

GENERAL

1.Reliance gold fund scheme collects 5 bn rupees.

Reliance Mutual Fund on Wednesday said it has so far collected 5 billion rupees ($111 million) from 200,000 investors under its gold fund of funds scheme. "The large participation in the fund reaffirms our belief that gold will emerge as one of the largest asset classes for the Indian MF industry," said Sundeep Sikka, CEO, Reliance Mutual Fund.

News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

2.Baroda Pioneer MF launches Baroda Pioneer 380 Day FMP – Series 1.

Baroda Pioneer Mutual Fund has opened the New Fund Offer (NFO) Baroda Pioneer 380 Day Fixed Maturity Plan – Series 1, close ended debt schemes. The NFO opens for subscription on March 09, 2011 and closes on March 14, 2011. No entry and exit load is applicable. The schemes will mature at the end of 380 days from the date of allotment.

News Source – LIVE MINT.

GENERAL

1.SEBI guidelines to allow direct investment by foreign investors into MFs.

Market regulator SEBI will soon come out with guidelines for foreign investors undertaking direct investments in mutual funds, a senior official said today. "SEBI will issue the guidelines allowing foreign investors to invest in mutual funds shortly…We are working with the Reserve Bank and the Finance Ministry (for allowing FIIs entry into mutual funds)…it is a matter of weeks and not months," SEBI Executive Director of institutional investment management K N Vaidyanathan told reporters here.
News Source – ECONOMIC TIMES.

NEW FUND LAUNCH

2.Motilal Oswal launches Motilal Oswal MOSt Shares NASDAQ- 100 ETF.

Motilal Oswal has announced the launch of Motilal Oswal MOSt Shares NASDAQ-100 ETF. It is an open ended index exchange traded fund. The scheme seeks investment return that corresponds generally to the performance of the NASDAQ-100 Index. The fund will be benchmarked against NASDAQ-100 Index. The NFO period will be from 16th March 2011 to 23rd March 2011. The fund will be passively managed by Mr. Rajnish Rastogi.
News Source – MUTUAL FUND INDIA.

NEW FUND OFFER

1.Tata Fixed Maturity Plan Series 36 files offer document with Sebi.

Tata Mutual Fund files offer document with Sebi to launch Tata Fixed Maturity Plan Series 36, a close ended debt fund. It comprises of 3 schemes namely Scheme A, Scheme B and Scheme C. The investment objective of the schemes is to generate income and / or capital appreciation by investing in wide range of Debt and Money Market instruments having maturity in line with the maturity of the respective schemes. The maturity of all investments shall be equal to or less than the maturity of respective schemes.

News Source – NAV INDIA.

GENERAL

2.Equity mutual funds on steady ground.

The markets may be on a slippery wicket but equity mutual funds (MFs) are steadily recovering lost ground on the back of robust sales and lower redemptions from investors. After witnessing steady outflows ever since the ban on entry loads came into force in August 2009, the category has seen net inflows for the third consecutive month in February.

News Source – TIMES OF INDIA.

NEW FUND LAUNCH

3.Axis Fixed Term Plan – Series 13 (370 days).

Axis Mutual Fund has launched Axis Fixed Term Plan – Series 13 (370 days), a close ended income scheme. The new issue is open for subscription from 14th March and closes on 22nd March 2011.

News Source – AMFI INDIA.