Edelweiss MF Launches Edelweiss Diversified Growth Equity Fund

Edelweiss Diversified Growth Equity Fund (E.D.G.E)
Fund Facts
Offer Opens	4th May 2009
Offer Closes	8th May 2009
Scheme Type	Open Ended Equity Diversified Fund
Plan Available	Plan A, Plan B and Plan C
Minimum Investment	Plan A – Rs 1,000/- Plan B – Rs 25,000/- Plan C – Rs 10,000/-
Loads	Entry Load Exit Load Plan A 2.25% Plan A 1.50% Plan B NIL Plan B 1.50% Plan C NIL Plan C 2.00%
Options	Growth, Dividend – Reinvestment and Payout and Sweep
Objective	The primary objective of the fund is to generate long term capital growth from a diversified portfolio, investing predominantly in equity and equity Related securities. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any Returns.
Fund Manager	Mr. Tarbir Shahpuri
Asset Allocation	Equity : 65% - 100% Debt & Money Market : 0% - 35%
Benchmark	BSE 500
Returns of Edelweiss Fund Managed by same fund manager	Scheme Name NAV 1 Week 2 Weeks 1 Month 2 Months 3 Months 6 Months Since Inception Edelweiss ELSS Fund 11.98 2.31 2.22 10.41 21.13 19.68 -- 19.80

TATA MF declares a dividend of 10% under Tata Balanced Fund

Tata Mutual Fund has planned to declare dividend under dividend option of Tata Balanced Fund. The record date is set to be 24 April 2009. The quantum of dividend will be 10 per cent on the face value of Rs 10 per unit i.e. Rs 1.00 per unit on the record date. Tata Balanced Fund is an open-ended balanced fund which aims to provide income distribution and / or medium to long term capital gains while at all times emphasizing the importance of capital appreciation. The scheme intends to invest in equity and equity related instruments as well as in debt and money market instruments. The NAV of the scheme was Rs. 31.6519 per unit as on 22 April 2009.

JM Auto Sector Fund Changes to JM Mid Cap Fund

JM Auto sector fund which is an open ended sector fund will be changed to JM Mid Cap fund which is an open ended equity fund. The investment objective of the scheme will be to generate long term capital growth at a controlled level of risk by predominantly investing in Mid Cap companies.

Under normal circumstances the scheme would invest upto 65-100 per cent into equity and equity related instruments with high risk profile and invest upto 35 per cent into money market instruments or debt securities. The fund will be benchmarked to CNX Mid Cap Index and will be managed by Mr. Sanjay Chhabaria. The changes are proposed in JM Auto Sector Fund with effect from 23rd May, 2009.

RBI cuts interest rates by 25 bps

The Reserve Bank of India (RBI) has cut the repo and reverse repo rate by 25 basis points each. The repo rate has been cut to 4.75 percent from the existing 5 per cent while the reverse repo has been cut to 3.25 per cent from the existing 3.5 per cent.

The CRR has been left untouched at 5 per cent in the annual policy review on Tuesday.

The GDP forcast for the FY10 has been pegged at about 6 per cent, according to the policy.

The repo rate is the rate at which the central bank lends to banks while reverse repo is the rate at which it absorbs excess cash from the blackmoney markets. The central bank last cut interest rates in early March.

The central bank cut is growth estimate for 2008/09, which ended on March 31, to 6.5 to 6.7 percent, and forecast growth of around 6 percent for 2009/10. It said that managing large government borrowing in 2009/10 in a non-disruptive manner would be a major challenge, and said it would used a mix of monetary and debt management tools to ensure this was done smoothly.

Dividend Declares In Four Schemes

Dividend Declared:ICICI Pru Blended-Plan A- 5%,ICICI Pru Equity & Derivative- 5%, Sundaram Select Mid Cap-10% & Tata Balanced Fund-10% Record Date 24th April 2009.

Birla Sun Life announces major changes in its Balance Fund

Birla Sun Life Balance Fund has renamed as Birla Sun Life Freedom Fund, which is also an open ended balance scheme. The objective of the scheme will be to balance income requirement with growth of capital through balance mix of investment in equity and debt at relatively moderate levels of risk through a diversified research based investment approach.

The fund managers Mr. Maneesh Dangi & Mr. Vineet Maloo will replace Mr. A. Balasubramanian, the existing fund manager of the scheme. The scheme has increased its entry load to 2.5 per cent, for purchase or switch-in of units less than Rs. 5 crores. The fund has decided to increase in limits of trading in derivative instruments, with effect from 20th April, 2009.

SBI Mutual cuts minimum investment limit in 4 funds

State Bank of India mutual fund unit on Wednesday lowered the minimum monthly investment limit in select funds to 100 rupees, joining the likes of UTI Mutual Fund and ICICI Prudential Asset Management.

The funds are Magnum Balance, MMPS-93, MSFU Contra fund and SBI Blue Chip fund.

SBI Mutual Fund hopes to attract about 250,000 investors in the first year with this initiative, SBI chairman O.P. Bhatt said.

Typically, the minimum investment into Indian mutual funds is 500 rupees, but an increasing number of money managers are lowering the investment threshold, in a bid to attract small investors from tier II and tier III cities.

UTI Declares Dividend

UTI MF has declared dividend of 8% UTI Wealth Builder Fund respectively with a record date of 16th April 2009.

UTI Declares Dividend Under Two Schemes

UTI MF has declared dividend of 10% and 8.50% under UTI Equity Fund and UTI Balanced Fund respectively with a record date of 16th April 2009.

SBI MF introduces MicroSIP in various scheme

SBI MF introduces MicroSIP in various schemes

With effect from 15 April 2009

SBI Mutual Fund has approved introduction of a Micro Systematic Investment Plan (MicroSIP) facility under the current Systematic Investment Plan facility available under growth options of following schemes: Magnum Balanced Fund, Magnum Multiplier Plus Scheme 93, Magnum Sector Funds-Umbrella-Contra Fund, SBI Blue Chip Fund. The proposed changes are to be effective from 15 April 2009.

Detail of MicroSIP:

The minimum application amount will be Rs 100 and in multiples of Rs 50 thereof.

The minimum redemption amount will be Rs 500.

Minimum tenure of SIP will be 5 years.

Entry load: For MicroSIP, no entry load will be charge for direct applications while it will charge entry load at 2.25% of the applicable NAV for applications other than direct applications.

Exit Load: For exit before 2 years from the date of investment of each installment, 3% of the applicable NAV will be the exit load. For exit after 2 years but before 5 years from the date of investment of each installment, the scheme will charge exit load at 2% of applicable NAV. However, the schemes would not levy exit load for exit after 5 years from the date of investment of each installments.

MicroSIP facility would be offered to investors having Auto debit facility/direct debit facility with certain banks where SBI Funds Management have specific arrangements. All other terms and conditions as applicable to SIP facility will also apply to MicroSIP facility.

ICICI Pru MF Launches ICICI Pru Target Returns Fund

ICICI Prudential Mutual Fund has announced the launch of the ICICI Prudential Target Returns Fund, an open ended diversified equity fund on 15 April 2009. The new issue will be open for the subscription till 14 May 2009. The NFO price for the fund is Rs 10 per unit.

The investment objective plan is to seeks to generate capital appreciation by investing in equity or equity related securities of large market capitalization companies constituting the BSE 100 index and providing investors with options to withdraw their investment automatically based on triggers for preset levels of return as and when they are achieved.

The minimum investment amount under retail plan is Rs. 5,000

SBI MF has launched SBI Gold Exchange Traded Fund

SBI Mutual Fund launched its scheme SBI Gold Exchange Traded Scheme; the new fund offer period for the scheme remains open from 30th March, 2009 to 28th April, 2009.

The investment objective of the fund is to seek to provide returns that closely correspond to returns provided by price of gold through investment in physical gold. However the performance of the scheme may differ from that of the underlying asset due to tracking error. Currently the scheme offers growth option and the minimum application amount will be Rs. 5000.
The entry load for investment amount up to Rs.25 lakhs an entry load of 2.50 per cent will be charged; for investment of Rs. 25 lakhs to Rs. 50 lakhs, entry load of 1.50 per cent will be charged. An entry load of 1 per cent will be charged for application amount of Rs.50 lakhs to Rs.1 crore. There will be no entry load charged for investment amount more than Rs.1crore and the scheme also does not charge any exit load. The scheme will be managed by Mr. Ritesh Sheth and will be benchmarked against prices of gold.

IDFC Mutual Fund will introduce PLAN B in its equity schemes

IDFC Mutual Fund will introduce new investment plan – Plan B in IDFC Premier Equity Fund, IDFC Classic Equity Fund, IDFC Imperial Equity Fund and IDFC Strategic Sector (50-50) Equity Fund with effect from 2nd April, 2009.

The new plan will have the same investment portfolio as the existing plan. The present plan has been renamed as Plan A. The scheme offers growth and dividend option; the dividend option further offers dividend payout and dividend reinvestment option. The minimum application amount under the scheme is Rs.25000 for Premier Equity Funds and Rs. 5000 for Classic Equity Fund, Imperial Equity Fund and Strategic Sector Plan. The scheme will charge an exit load of 1 per cent for purchase of less than Rs.5 crores. No entry load will be charged for the schemes.