UTI Top 100 fund has declared 1:1 bonus. Record date for the same is 4th June 2009.
UTI Top 100 fund was launched by merging UTI Mastergrowth and UTI Index Select Equity Fund.
Friday, May 29, 2009
Thursday, May 28, 2009
Kotak MNC, Kotak Global India & Kotak Tech shall be merging with Kotak Opportunities scheme wef 01-Jul-09
* Unit holders who are not in agreement with the merger can redeem their units at applicable NAV or switch to other open-ended schemes of Kotak Mutual Fund without payment of exit load between 1-Jun-09 and 30-Jun-09.
* It is also important to note that there will no fresh purchase/ additional purchase/ switch into/ fresh registration or renewal of SIP/ STP/ SWP in Kotak MNC, Kotak Global India & Kotak Tech during this period (1-Jun-09 to 30-Jun-09)
* The existing SIP/STP/SWP transactions from Kotak MNC, Kotak Global India & Kotak Tech will be processed for the month of June and from 01-Jul-09 all existing SIP/STP/SWP will be treated as SIP/STP/SWP transactions of Kotak Opportunities, unless otherwise requested by the investor.
* There will be no entry load charged to investors of Kotak MNC, Kotak Global India and Kotak Tech who are allotted units of Kotak Opportunities on the completion date.
* Exit load on the units transferred into Kotak Opportunities shall be as per the applicable exit load structure of Kotak Opportunities on the date of transfer, irrespective of the mode of subscription into Kotak MNC, Kotak Global india and Kotak Tech.
* Securities Transaction Tax (STT) arising out of the merger, if any, will be borne by Kotak Mahindra Asset Management Company Limited.
* It is also important to note that there will no fresh purchase/ additional purchase/ switch into/ fresh registration or renewal of SIP/ STP/ SWP in Kotak MNC, Kotak Global India & Kotak Tech during this period (1-Jun-09 to 30-Jun-09)
* The existing SIP/STP/SWP transactions from Kotak MNC, Kotak Global India & Kotak Tech will be processed for the month of June and from 01-Jul-09 all existing SIP/STP/SWP will be treated as SIP/STP/SWP transactions of Kotak Opportunities, unless otherwise requested by the investor.
* There will be no entry load charged to investors of Kotak MNC, Kotak Global India and Kotak Tech who are allotted units of Kotak Opportunities on the completion date.
* Exit load on the units transferred into Kotak Opportunities shall be as per the applicable exit load structure of Kotak Opportunities on the date of transfer, irrespective of the mode of subscription into Kotak MNC, Kotak Global india and Kotak Tech.
* Securities Transaction Tax (STT) arising out of the merger, if any, will be borne by Kotak Mahindra Asset Management Company Limited.
Monday, May 25, 2009
Bharti Axa Equity Fund declares maiden dividend
Bharti Axa Equity Fund declares maiden dividend of 5-10% in different plans. Record date is 29th May 2009. Details of dividend are as under:
| Bharti Axa Equity Fund – Plan | Per Unit | % Dividend |
| Regular Plan - Quarterly Dividend | 0.5 | 5 |
| Regular Plan - Regular Dividend | 1 | 10 |
| Eco Plan - Quarterly Dividend | 0.5 | 5 |
| Eco Plan - Regular Dividend | 1 | 10 |
| Institution Plan - Quarterly Dividend | 0.5 | 5 |
| Institution Plan - Regular Dividend | 1 | 10 |
Magnum Taxgain Scheme 1993 declares 28% dividend
SBI MF declared a dividend of Rs 2.80 per unit on face value of Rs 10 per unit in its open-ended equity linked savings scheme Magnum Taxgain Scheme 1993. The record date for the same is 29 May 2009. The NAV under for the scheme is Rs 35.51 as on 21 May 2009.
UTI merges two schemes to launch Top 100 Fund
UTI Mutual Fund has merged two funds to introduce UTI Top 100 Fund which aims to provide long term capital gains by investing in
equity and equity related instruments of top 100 stocks by market capitalisation.
"The new fund has been created by merging Index Select Fund and Master Growth Fund," said Harsha Upadhyaya, fund manager of UTI Mutual Fund.
The new scheme, UTI Top 100 Fund, has been launched with changed fundamental attribute and investment objective, he said.
With this, there would be flexibility to make investment in top 100 stocks, he said, adding, companies in the portfolio have the potential to withstand volatility and sustain through different market cycles.
The fund would have portfolio size of 35-40 stocks, he added.
Prior to merger, Master Growth was required to invest 50 per cent of the corpus in the PSU stocks, while the objective of the other fund restricted investment in the nifty stocks.
As on May 20, Master Growth gave annual return of (-19 per cent) while Index Fund gave return of (-14 per cent).
Top 100 Fund, an open-ended equity oriented scheme, benchmarked against BSE 100. t is available in dividend and growth options.
equity and equity related instruments of top 100 stocks by market capitalisation.
"The new fund has been created by merging Index Select Fund and Master Growth Fund," said Harsha Upadhyaya, fund manager of UTI Mutual Fund.
The new scheme, UTI Top 100 Fund, has been launched with changed fundamental attribute and investment objective, he said.
With this, there would be flexibility to make investment in top 100 stocks, he said, adding, companies in the portfolio have the potential to withstand volatility and sustain through different market cycles.
The fund would have portfolio size of 35-40 stocks, he added.
Prior to merger, Master Growth was required to invest 50 per cent of the corpus in the PSU stocks, while the objective of the other fund restricted investment in the nifty stocks.
As on May 20, Master Growth gave annual return of (-19 per cent) while Index Fund gave return of (-14 per cent).
Top 100 Fund, an open-ended equity oriented scheme, benchmarked against BSE 100. t is available in dividend and growth options.
Thursday, May 21, 2009
UTI MF declared 2nd Dividend in UTI Wealth Builder Fund - Series 2
UTI MF has declared 2nd dividend of 8% under UTI Wealth Builder Fund - Series 2. Record date is 27th May 2009.
Wednesday, May 13, 2009
Morgan Stanley MF launches two debt funds
Morgan Stanley Investment Management on Tuesday launched two fixed income funds namely Morgan Stanley Short Term Bond Fund and Morgan
Stanley Active Bond Fund.
The investment objective of Morgan Stanley Short Term Bond Fund is to generate income from a diversified portfolio of short to medium term debt and money market securities and will be benchmarked against the CRISIL Short-Term Bond Fund Index. The Morgan Stanley Active Bond Fund will seek to generate optimal returns through active management of a portfolio consisting of debt and money market securities. It will be benchmarked against the CRISIL Composite Bond Fund Index.
The NFO priced at Rs. 10 per unit, will be open for purchase from May 12 - 20, for Morgan Stanley Short Term Bond Fund and from May 12 - 25, for Morgan Stanley Active Bond Fund.
“Interest rates are at a cyclical downturn on the back of global economic slowdown and low inflation,” said Ritesh Jain, Head – Fixed Income and Lead Portfolio Manager for the Fixed Income Boutique, Morgan Stanley Mutual Fund.
“Given this environment, Morgan Stanley Short Term Bond Fund will be well positioned to take advantage of any fall in short term interest rates. Morgan Stanley Active Bond Fund will be actively managed to take advantage of any fall in the overall interest rate structure. A flexible investment strategy is best positioned to generate an optimal risk adjusted return, given market opportunities.”
Stanley Active Bond Fund.
The investment objective of Morgan Stanley Short Term Bond Fund is to generate income from a diversified portfolio of short to medium term debt and money market securities and will be benchmarked against the CRISIL Short-Term Bond Fund Index. The Morgan Stanley Active Bond Fund will seek to generate optimal returns through active management of a portfolio consisting of debt and money market securities. It will be benchmarked against the CRISIL Composite Bond Fund Index.
The NFO priced at Rs. 10 per unit, will be open for purchase from May 12 - 20, for Morgan Stanley Short Term Bond Fund and from May 12 - 25, for Morgan Stanley Active Bond Fund.
“Interest rates are at a cyclical downturn on the back of global economic slowdown and low inflation,” said Ritesh Jain, Head – Fixed Income and Lead Portfolio Manager for the Fixed Income Boutique, Morgan Stanley Mutual Fund.
“Given this environment, Morgan Stanley Short Term Bond Fund will be well positioned to take advantage of any fall in short term interest rates. Morgan Stanley Active Bond Fund will be actively managed to take advantage of any fall in the overall interest rate structure. A flexible investment strategy is best positioned to generate an optimal risk adjusted return, given market opportunities.”
Tuesday, May 12, 2009
Tata Smart Investment Plan - 1
| Tata Smart Investment Plan - 1 | |
| Fund Facts | |
| Offer Opens | 27th April 2009 |
| Offer Closes | 1st June 2009 |
| Scheme Type | Close Ended Hybrid Fund |
| Minimum Investment | Rs 10,000/- |
| Loads | Entry Load - 2.25% Exit Load - Nil |
| Options | Growth |
| Objective | The primary investment objective of the scheme is to generate returns by investing systematically in equity/equity related instruments. |
| Fund Manager | Venugopal M. & Chintan Mehta |
Saturday, May 9, 2009
Sahara MF launches Rs. 10 Micro-SIP
India is going smaller and smaller these days, with corporates eyeing glory by dreaming small. What Anil Ambani did with his Rs 50 systematic investment plan (SIP) idea, or even Ratan Tata and his idea of a Rs 1 lakh car, the Nano, Sahara MF's Subroto Roy is looking to beat with his concept of a Rs 10 SIP.
While this is still a proposal and the Reliance AMC is far and away the No. 1 in terms of AUM, and Tata Motors is another behemoth that dwarfs Sahara MF, yet the path to mobilise the masses into an unbeatable collective is still open for everyone to explore.
However, there is a huge concern hanging over Sahara MF as it is trying to trod the territory hitherto ignored by the MF industry. While Rs 10 is a very, very small amount by any standards, the fund is proposing various value additions and the foremost is to send its staff door-to-door to do the collections. Its advisors would collect the cash from investors and enter the payment in mobile devices that would be connected to the Sahara MF transaction server.
The fund is a plain-vanilla open-ended debt fund that would invest in debt and money market instruments. Though there isn’t anything special about the fund, but this idea of going to the masses with mobile-enabled devices has the potential of revolutionizing the whole industry, especially after the credit crisis in October 2008, which has made many old investors swear of investing in markets forever, and the new ones have been scared away by the horror stories. This unique method will bring a huge number of new investors, albeit small, into the markets.
While this is still a proposal and the Reliance AMC is far and away the No. 1 in terms of AUM, and Tata Motors is another behemoth that dwarfs Sahara MF, yet the path to mobilise the masses into an unbeatable collective is still open for everyone to explore.
However, there is a huge concern hanging over Sahara MF as it is trying to trod the territory hitherto ignored by the MF industry. While Rs 10 is a very, very small amount by any standards, the fund is proposing various value additions and the foremost is to send its staff door-to-door to do the collections. Its advisors would collect the cash from investors and enter the payment in mobile devices that would be connected to the Sahara MF transaction server.
The fund is a plain-vanilla open-ended debt fund that would invest in debt and money market instruments. Though there isn’t anything special about the fund, but this idea of going to the masses with mobile-enabled devices has the potential of revolutionizing the whole industry, especially after the credit crisis in October 2008, which has made many old investors swear of investing in markets forever, and the new ones have been scared away by the horror stories. This unique method will bring a huge number of new investors, albeit small, into the markets.
Friday, May 8, 2009
JM Mutual’s former CIO Sabharwal joins Prabhudas Lilladher as CEO-PMS
JM Financial Mutual Fund’s former chief investment officer, Sandeep Sabharwal has joined Prabhudas Lilladher Group as Chief Executive Officer of portfolio management services business.
Sabharwal resigned from JM Financial Mutual Fund in February this year. The mutual funds’ equity funds, managed by him, registered average 70% negative returns in 2008, with the highest loss registered by JM Emerging Leaders Fund of 80%, a mid-cap equity fund. The BSE Sensex Index, in comparison, declined by 50% in 2008.
Sabharwal received recognition with his stint at SBI Mutual Fund, where he turned around the performance of the mutual fund’s equity schemes with his aggressive investment approach and strong stock selection approach in the mid-cap space. He left SBI Mutual Fund to join Lotus Mutual Fund, where he was asked to leave post his name appeared in the stock market scam of 2001. The Lotus Mutual Fund was recently acquired by Religare Aegon Mutual Fund.
Sabharwal resigned from JM Financial Mutual Fund in February this year. The mutual funds’ equity funds, managed by him, registered average 70% negative returns in 2008, with the highest loss registered by JM Emerging Leaders Fund of 80%, a mid-cap equity fund. The BSE Sensex Index, in comparison, declined by 50% in 2008.
Sabharwal received recognition with his stint at SBI Mutual Fund, where he turned around the performance of the mutual fund’s equity schemes with his aggressive investment approach and strong stock selection approach in the mid-cap space. He left SBI Mutual Fund to join Lotus Mutual Fund, where he was asked to leave post his name appeared in the stock market scam of 2001. The Lotus Mutual Fund was recently acquired by Religare Aegon Mutual Fund.
Canara Robeco Mutual Fund has launched Canara Robeco Dynamic Bond Fund
Canara Robeco Mutual Fund has launched Canara Robeco Dynamic Bond Fund, which will remain open for subscription from 04th May, 2009 to 20th May, 2009 at the NFO price of Rs. 10 per unit. The scheme will offer retail and institutional plans with growth, growth with automatic repurchase, dividend payout and dividend reinvestment options. The minimum application amount in the retail and institutional plan will be Rs. 5000 and Rs. 1 crore respectively. The objective of the fund is to seek to generate income from a portfolio of debt and money market securities. The scheme will be benchmarked against Crisil composite bond fund index and will be managed by Mr. Ritesh Jain.
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