Mutual Funds 1st march 2008
***Standard Chartered MF files an offer document
***Reliance MF declares dividend
***HDFC MF launches 13M and 90D March plans under HDFC FMP -Series VII
***ABN Amro MF launches ABN Amro FTP - Series 10 Plan E
***ICICI MF declares dividend under interval plan
***ICICI MF revises load structure
***Franklin Templeton MF files offer document
Mirae Asset MF launches new Liquid Plus Fund
Name of Fund: Mirae Asset Liquid Plus Fund
Scheme: It is an open-ended debt scheme.
Objective: The primary investment objective of the scheme is to seek to generate returns with low volatility and higher liquidity through a portfolio of debt and money market instruments.
Fund Opens: 29 February 2008
Fund Closes: 3 March 2008
Face Value: Rs 1000 per unit.
Investment Options: The scheme will have super institutional, institutional and regular plans. The scheme offers growth, bonus and dividend option under each plan. Dividend option shall have the choice of dividend payout; dividend reinvestment and dividend transfer options.
Entry Load: The scheme will not charge any entry load during its new fund offer and ongoing offer period.
Exit load: Under regular plan, it will charge a 0.10% exit load if redeemed within 30 days from the date of allotment. For both institutional and super institutional plan, the scheme may levy 0.10% an exit load if redeemed within 7 days from the date of allotment.
Asset Allocation: The scheme invests 50-100% in money market instruments and debt instruments with residual maturity and repricing tenor not exceeding 1 year. It may have investment of 0-50% in debt instruments with residual maturity and re-pricing tenor exceeding 1 year. Debt instruments include securitized debt up to 50% of net assets. The scheme may invest in derivatives up to 50% of the net assets of the scheme. In addition, the scheme may also invest in foreign securities up to 25% of net assets of the scheme.
Minimum Investment Amount: The minimum investment amount under regular plan is Rs 5000 and in multiple of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 1 crore and in multiple of Re 1 thereafter. The minimum investment amount under super institutional plan is Rs 5 crore and in multiple of Re 1 thereafter.
Minimum subscription amount: Rs 1 crore
Benchmark Index: CRISIL Liquid Fund Index
Fund Manager: Mr. Murthy Nagarajan
Standard Chartered MF files an offer document
Name of Fund: Standard Chartered Fixed Maturity Plan Quarterly Series (SCFMP QS)
Scheme: It is a close-ended income scheme (with 3 plans).
Objective: The investment objective of the Scheme is to seek to generate income by investing in a portfolio of debt and money market instruments.
Plans: There are 3 plans in the scheme:Standard Chartered Fixed Maturity Plan Quarterly Series 31 (SCFMP QS31) ,Standard Chartered Fixed Maturity Plan Quarterly Series 32 (SCFMP QS32),Standard Chartered Fixed Maturity Plan Quarterly Series 33 (SCFMP-QS33)
Asset Allocation: The fund will invest 100% in debt and money market instruments. Investments in securitised debts can be up to 50% of the net assets.
Face Value: Rs 10
Investment Options: The scheme offers two options i.e. growth and dividend options under each plan.
Load: Entry load is nil. An exit load of 1.0% shall be charged in case of repurchased made after the date of allotment and on 45th day from the date of allotment.
Minimum Investment Amount: Minimum investment is Rs 5,000 and in multiple of Re 1 thereafter.
Minimum targeted amount: Rs.1 crore.
Benchmark Index: Crisil Liquid Fund Index
Fund Manager: Mr. Kaushal Singh
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 III under both retail and institutional plan. The record date is set as 5 March 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. 10.1526 as on 27 February 2008. The NAV for the scheme under institutional plan was Rs. 10.1543 as on 27 February 2008.
Reliance Interval Fund Monthly Interval Fund Series III 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.
HDFC MF launches 13M and 90D March plans under HDFC FMP -Series VII
Name of fund: HDFC Fixed Maturity Plan 13 Months March 2008 and HDFC Fixed Maturity Plan 90 Days March 2008
Scheme: Both the schemes are of close-ended income nature.
Objective: The investment objective of the fund is to generate regular income through investments in debt, money market instruments, and government securities.
Options: Both HDFC Fixed Maturity Plans- 13 Months March and 90 Days March 2008 offers wholesale plan and retail plan with growth and dividend option.
The Minimum Investment Amount:
Under retail Plan: Rs. 5,000 and in multiple of Re. 1 thereafter per application
Under wholesale Plan: Rs. 1 Crore and in multiples of Re. 1 thereafter per application
Asset allocation:
Debt securities and money market instruments: 60-100%
Government securities: 0- 40%
Securitised debt: Up to 75% of net assets of plan
Snapshot
Face value: Rs 10
Offer opens: 5 March 2008
Offer closes: 10 March 2008
Entry load: Nil
Exit load: HDFC Fixed Maturity Plan 13 Months March 2008 would charge an exit load of 2.00% if the units are redeemed or switched out before maturity.
HDFC Fixed Maturity Plan 90 Days March 2008 may charge an 0.75% an exit load if the units are redeemed or switched out before maturity.
Benchmark Index: Crisil Liquid Fund Index
Fund Manager: Mr. Shobhit Mehrotra.
ABN Amro MF launches ABN Amro FTP - Series 10 Plan E
Name of Fund: ABN Amro Fixed Term Plan - Series 10 Plan E
Scheme: A close-ended Fixed Term Income scheme with no assured returns.
Objective: The Investment objective of the Scheme would be to achieve growth of capital through investments made in a basket of fixed income securities in line with the duration the Scheme.
Fund Opens: 27 February 2008
Fund Closes: 4 March 2008
Face Value: Rs 10 per unit.
Investment Options: The scheme offers growth, dividend option (Calendar Monthly, Calendar Quarterly, Calendar Half Yearly, Calendar Yearly, and Dividend on Maturity Option).
The Dividend Option offers Dividend Payout and Dividend Re-investment Facilities. Both the Options will be managed with a common portfolio.
Entry Load: The scheme will not charge any entry load.
Exit load: 2% if investor redeems before the date of maturity.
Asset Allocation: The scheme invest 0-100% in money market instruments. It may have investment of 0-100% in debt instruments. Debt instruments may include securitised debt upto 60% of the net assets & exposure in debt derivatives upto maximum permissible under SEBI regulations i.e. 100%. The Scheme shall limit its exposure to investment in Foreign Debt Securities upto a maximum of 10% of its net assets. The Scheme will not invest in equity and equity related securities.
Minimum Investment Amount: The minimum investment amount under regular plan is Rs 25000 and in multiple of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 25,00,000 and in multiple of Re 1 thereafter. There is no upper limit.
Benchmark Index: Crisil Short Term Bond Fund Index.
Fund Manager: Mr. Alok Singh for investment in Indian Securities and Mr. R. Sivakumar Dedicated Fund Manager- Overseas Investments.
ICICI MF declares dividend under interval plan
ICICI Mutual Fund has announced 5 March 2008 as the record date for declaration of dividend under dividend option of ICICI Prudential Interval Fund II Quarterly Interval Plan D.
The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme was Rs. 10.20 as on 27 February 2008.
ICICI Prudential Interval Fund II Quarterly Interval Plan D is a debt oriented interval scheme. The investment objective of the scheme is to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.
ICICI MF revises load structure
ICICI mutual fund has announced the revision in the load structures in following schemes:
ICICI Prudential Infrastructure Fund, ICICI Prudential Power, ICICI Prudential Growth Plan, ICICI Prudential Discovery Fund, ICICI Prudential Services Industries Fund, ICICI Prudential Dynamic Plan, ICICI Prudential Balanced Fund, ICICI Prudential Emerging S.T.A.R. (Stocks Targeted At Returns) Fund and ICICI Prudential Income Plan.
The revised load structure is as follows:
| Sr. No. |
| Particulars | Load Structure |
| 1 | Exit Load for all the above schemes except ICICI Prudential Income Plan | For an Investment of less than Rs. 5 crore |
|
| If the amount sought to be redeemed or switched out is invested up to six months from the date of allotment; | 1% | ||
| If the amount sought to be redeemed or switched out is invested for more than six months but up to one year from the date of allotment. | 0.5% | ||
| If the amount sought to be redeemed or switched out is invested for more than one year from the date of allotment | Nil | ||
| For an Investment of Rs. 5 crore and above | Nil | ||
| 2 | Exit Load for ICICI Prudential Income Plan | For an Investment of less than or equal to Rs. 10 lakh |
|
| If the amount sought to be redeemed or switched out is invested up to three months from the date of allotment; | 1% | ||
| If the amount sought to be redeemed or switched out is invested for more than three months but up to six months from the date of allotment; | 0.50% | ||
| If the amount sought to be redeemed or switched out is invested for a period of more than six months from the date of allotment | Nil | ||
| For an Investment above Rs.10 lakh | Nil |
Franklin Templeton MF files offer document
Name of Fund: Franklin Templeton Fixed Tenure Fund - Series IX
Scheme: A close-ended Income scheme
Objective: The scheme seeks to generate returns and reduce interest rate volatility through a portfolio of fixed income securities with a maturity profile generally in line with the funds duration along with capital appreciation through equity exposure.
Face Value during NFO: Rs 10 per unit subject to applicable load.
Investment Options: The scheme offers two plans.
Plan A: three years from the date of allotment
Plan B: five years from the date of allotment
Each Plan has two options, growth and dividend (payout) option.
Entry Load: The scheme will charge up to 4% as maximum sales/entry load on purchase including switch-in.
Exit load:
| Redemption period (from the date of allotment) | As a % of NAV | |
| Plan A | Plan B | |
| Up to 18 months | 2.50% | 3% |
| After 18 months but before 30 months | 1.50% | 2.50% |
| After 30 months but before maturity (in case of Plan A)/before 42 months (in case of Plan B) | 0.50% | 2.00% |
| After 42 months but before 54 months | N.A. | 1% |
| After 54 months but before maturity | N.A. | 0.50% |
| On maturity | 0% | 0% |
Asset Allocation:
Plan A: The scheme will invest 80-100% in debt securities and money market instruments. 0-20% in equities and equity linked instruments.
Plan B: The scheme will invest 70-100% in debt securities and money market instruments. 0-30% in equities and equity linked instruments.
Minimum Investment Amount: The minimum investment amount under regular plan is Rs 25000 and in multiple of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 25,00,000 and in multiple of Re 1 thereafter. There is no upper limit.
Benchmark Index:
Plan A: 20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index.
Plan B: 25% S&P CNX 500 + 65% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index.
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