Mutual Funds News 27th march 2008

Reliance MF launches new Fixed Horizon Fund Series

Reliance Mutual Fund launched Reliance Fixed Horizon Fund -VI-Series 3. It is a close-ended income scheme. Duration of the scheme is 91 days from the date of allotment. The primary investment objective of the scheme is to seek to generate regular returns and growth of 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 series with the objective of limiting interest rate volatility.

         

JM Financial MF launches FMP Series

JM Financial Mutual Fund launched JM Fixed Maturity Fund - Series XI - 13 Month Plan 1. The scheme is a close-ended income fund with maturity of 395 days from the date of allotment. The investment objective of the fund is to generate regular returns through investments in fixed income securities normally maturing in line with the time profile of the respective plan.

 

HDFC MF extends NFO period for FMP-VII-370 Days March (1)

HDFC mutual fund has extended the new fund-offering (NFO) period of HDFC Fixed Maturity Plans-VII-370 Days March (1) from 27 March to 28 March 2008. The issue was opened for subscription on 24 March 2008. HDFC Fixed Maturity Plans-VII-370 Days March (1) is a close-ended income scheme. The NFO price for the fund is Rs 10 per unit. The minimum investment under retail plan is Rs 5,000 and in multiple of Re 1 thereafter. The minimum investment amount under wholesale scheme is Rs 1 crore and in multiple of Re 1 thereafter. The investment objective of the fund is to generate regular income through investments in debt, money market instruments, and government securities.

 

SBI MF launches new debt fund series

SBI Mutual Fund launched SBI Debt Fund Series - 30 Days Fund-2. The objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments. The fund will invest 0%-80% in Government of India dated securities and treasury bills and money market instruments. It may invest 20-100% in AAA/AA+ bonds/ debt instruments. The investment in securitised debt will be up to 20%.

 

DSP ML MF extends NFO period

DSP Merrill Lynch mutual fund has extended the new fund-offering (NFO) period of DSP Merrill Lynch Natural Resources And New Energy Fund from 27 March to 31 March 2008. The issue was opened for subscription on 3 March 2008. DSP Merrill Lynch Natural Resources And New Energy Fund an open-ended equity growth scheme. The NFO price for the fund is Rs 10 per unit. The minimum investment amount under regular plan will be Rs. 5,000 and in multiples of Re. 1 thereafter. The investment under institutional plan will be of Rs.5 crore and in multiples of Re. 1 thereafter.

The primary investment objective of the scheme is to seek to generate capital appreciation and provide long term growth opportunities by investing in equity and equity related securities of companies domiciled in India whose pre-dominant economic activity is in the discovery, development, production, or distribution of natural resources, viz., energy, mining etc; alternative energy and energy technology sectors, with emphasis given to renewable energy, automotive and on-site power generation, energy storage and enabling energy technologies.

 

Lotus India MF launches FMP Series

Lotus India Mutual Fund launchedLotus India Fixed Maturity Plans- 1 Month- Series VIII. This scheme is a close-ended income scheme. The objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme. The scheme offers retail and institutional plans with growth and dividend options.

         

HSBC MF launches HSBC FT Series 48

HSBC Mutual Fund launched HSBC Fixed Term Series 48. It is a close-ended income scheme, which will be for fixed term of 6 months from the date of allotment. The investment objective of the scheme is to seek generation of returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of the plan. The scheme may invest up to 100% in money market instruments including CBLO and reverse repo. It may invest up to 100% in short term and medium term debt instruments and securitised debt. The investment in securitised debt will not exceed 50% of the net asset of the scheme.

         

Birla Sun Life MF revises load structure

Birla Sun Life Mutual Fund has announced the revision in the exit load structure for Birla Dynamic Bond Fund, an open-ended income scheme. According to the revised load structure, the fund will charge an exit load of 0.20% if the investment is redeemed within 30 days months from the date of allotment. Before revision of the load structure, the scheme did not ask for any exit load. There is no change in entry load i.e. the Birla Dynamic Bond Fund will not charge an entry load.

 

Standard Chartered MF launches another FMP

Standard Chartered Mutual Fund launched Standard Chartered Fixed Maturity Plans Yearly Series 20. The scheme is close-ended income scheme. The scheme will have two plans -Plan A and Plan B. The duration of the scheme will be from the date of allotment to 6 April 2009. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally in line with the duration of the scheme. The fund will invest up to 100% in debt and money market instruments, with low to medium risk profile. The investment in securitised debt will be up to 50% of net asset of the scheme.

 

Standard Chartered MF launches FMP

Standard Chartered Mutual Fund launched Standard Chartered Fixed Maturity Plans Quarterly Series 28. The scheme is close-ended income scheme. Date of maturity will be 26 June 2008. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally in line with the duration of the scheme. The fund will invest up to 100% in debt and money market instruments, with low to medium risk profile. The investment in securitised debt will be up to 50% of net asset of the scheme.

 

UTI MF opens 4 new financial centres

UTI Mutual Fund (UTI MF) announces opening of 4 new UTI Financial Centres (UFCs) at various centres viz. Jabalpur, Gurgaon, Aligarh and Bareilly. The UFC at Jabalpur was inaugurated today and is located on Ground floor, Ayush Complex, Home Science College Road, Napier Town, Jabalpur. On the occasion, Mr D Mohanty, Country Head-Retail, UTI Asset Management Company Limited ("UTI AMC") said, Keeping the investor's convenience in mind, UTI MF is expanding its wide distribution network to cover non-metro and smaller cities. It is our constant endeavour to bring our products and services closer to the door-step of our investors." UFC at Jabalpur will cover the areas of Satna, Rewa, Narsinghpur, Damoh, Mandla, Balaghat, Shahdol and Sidhi. The other 3 new UFCs at Gurgaon, Aligarh and Bareilly will be inaugurated on 28 March 2008, 29 March 2008 and 30 March 2008 respectively.