Mutual funds News 23rd Feb 2008
Mutual funds News 23rd Feb 2008
- Kotak MF declares dividend
- JM Financial MF garners Rs.300 crore through its interval fund
- UTI MF garners Rs.500 crore through its interval fund
- ING MF collects Rs.200 crore through its 91-day plan
- HSBC MF extends NFO period for Emerging Markets Fund
- Reliance MF declares dividend
- Tata MF declares dividend
Kotak MF declares dividend
Kotak Mutual Fund has announced 28 February 2008 as the record date for declaration of dividend under dividend option of Kotak Mahindra 30 Unit Scheme.
The quantum of dividend is 30% i.e. Rs. 3.00 per unit on the face value of Rs. 10. The NAV for the scheme was Rs. 38.517 as on 20 February 2008.
Kotak Mahindra 30 Unit Scheme is an open-ended equity growth scheme. The investment objective of the scheme is to generate capital appreciation from a portfolio of predominantly equity and equity related securities with investment in 30 companies which may go up to 39 companies.
JM Financial MF garners Rs.300 crore through its interval fund
JM Financial Mutual Fund has collected Rs 300 crore through its JM Interval Fund-Quarterly Plan 4 during its initial offer period from 31 January 2008 to 20 February 2008.
The JM Interval Fund-Quarterly Plan 4, which is close-ended debt oriented interval schemes, was opened for subscription between 31 January-20 February 2008. The objective of the scheme is to seek to generate regular returns through investment into money market securities / debt securities normally maturing in line with the time profile of the plan.
The JM Interval Fund-Quarterly Plan 4 will offer two plans - regular plan and institutional plan. This plan will have dividend and growth option. Under the dividend option, an investor may choose for payout or reinvestment of the dividend amount.
The fund will invest 0%-90% in government securities and other fixed income/debt securities, which includes corporate bonds and securitised debt. The investment in securitised debt may go up to 70% of the portfolio. The fund will invest 10%-100% in money market instruments.
The scheme will open for fresh purchases and redemption quarterly.
UTI MF garners Rs.500 crore through its interval fund
UTI Mutual Fund has collected Rs 500 crore through its UTI Fixed Maturity Plan -Quarterly Plan during its initial offer period from 1 February 2008 to 19 February 2008.
UTI Fixed Maturity Plan -Quarterly Plan is a close-ended plan with an investment in fixed income securities maturing in line with the scheme.
ING MF collects Rs.200 crore through its 91-day plan
ING Mutual Fund has collected Rs 200 crore through its ING Fixed Maturity Fund- Series 42 during its initial offer period from 14 February 2008 to 19 February 2008.
The ING Fixed Maturity Fund- Series 42, which is a close-ended bond scheme offering an investment plan of 91 days maturity, investing in a portfolio of government securities, or highly rated corporate bonds maturing close to the maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The scheme will invest in debt securities with maturity coinciding closely with the maturity of the scheme, so as to minimise the impact of price fluctuation of such securities and the value at maturity.
ING Fixed Maturity Fund- Series 42 will offer two plans i.e. retail and institutional plan with a sub-option of growth, dividend.
The scheme shall invest up to 100% in debt securities and money market instruments including call money and reverse repo. The debt securities may include securitised debt up to 100% of the net assets. The investments in derivatives instruments shall be to a maximum of 50% of the net assets of the scheme.
HSBC MF extends NFO period for Emerging Markets Fund
HSBC mutual fund has extended the new fund-offering (NFO) period of HSBC Emerging Markets Fund from 25 February to 26 February 2008.
HSBC Emerging Markets Fund is an open-ended scheme. The NFO price for the fund is Rs 10 per unit. The minimum investment is Rs 10,000 and in multiple of Re 1 thereafter.
The primary objective of the scheme is to provide long-term capital appreciation by investing in India and in the emerging markets, in equity and equity related instruments, share classes, and units/securities issued by overseas mutual funds or unit trusts.
There will be an entry load of 2.5% for investments or switch in below Rs. 5 crores, otherwise there will be no entry load charged.
The scheme charges an exit load of 1%, for investments below Rs. 5 crores, if redeemed or switched out within 1 year from date of investment, otherwise no exit load will be charged. There will be no load in case of switches between equity Schemes of HSBC mutual fund.
The fund will invest 80%-100% in units or securities issued by overseas mutual funds or unit trusts of emerging markets. The fund will invest 0%-20% in domestic debt, money market instruments including CBLO and reverse repo and units of domestic mutual funds.
Reliance MF declares dividend
Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Interval Fund Monthly Interval Fund Series II under both retail and institutional plan. The record date is set as 28 February 2008. The fund house has decided to distribute 100% of surplus available under both plans as on record date. The NAV for the scheme under retail plan was Rs. 10.0614 as on 21 February 2008. The NAV for the scheme under institutional plan was Rs. 10.0613 as on 21 February 2008.
Reliance Interval Fund Monthly Interval Fund Series II is a debt oriented interval scheme. The investment objective of the scheme is to generate regular returns and growth capital by investing in a diversified portfolio of central and state government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility.
Tata MF declares dividend
Tata Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Tata Fixed Income Portfolio Fund Scheme B2 under quarterly dividend option. The record date is set as 27 February 2008. The fund house has decided to distribute 100% of surplus available under option as on record date.
The NAV for the scheme under regular plan was Rs. 10.1744 as on 20 February 2008. The NAV for the scheme under institutional plan was Rs. 10.1744 as on 20 February 2008.
Tata Fixed Income Portfolio Scheme B2 Fund is an open-ended debt oriented scheme. The investment objective of the scheme is to generate returns and / or capital appreciation along with minimisation of interest rate risk. In order to achieve its investment objective, the scheme will invest predominantly in a portfolio of debt and money market instruments.
Comments