Reliance MF introduces exit load structure
Reliance mutual fund has announced the introduction of/ change in exit load in the following schemes:
Reliance regular Savings Fund (Equity Option and Balanced Option), Reliance Banking Fund, Reliance Diversified Power Sector Fund-Retail Plan, Reliance Pharma Fund, Reliance Media and Entertainment Fund, Reliance Growth Fund-Retail plan, Reliance Vision Fund-Retail Plan, Reliance Equity Opportunities Fund-Retail Plan, Reliance Equity Fund- Retail Plan and Reliance Equity Advantage Fund-Retail Plan.
According to the revised load structure the fund will charge for subscription of less than Rs 5 crore an exit load of 1% if the investment is redeemed/ switched on or before completion of 1 year from the date of allotment. The schemes should not charge an exit load if investment units are redeemed/ switched after completion of 1 year from the date of allotment. However, the scheme may not charge an exit load for subscription of Rs 5 crore and above.
The previously mentioned changes will be effective from 20 February 2008.
ICICI Prudential MF declares dividend
The ICICI Prudential mutual fund has announced the declaration of dividend under dividend option of ICICI Prudential Equity and Derivatives Fund -Income Optimiser Plan. The record date for dividend will be 22 February 2008.
The quantum of dividend is 6% i.e. Rs. 0.60 per unit on the face value of Rs. 10. The NAV of the scheme was recorded under institutional plan at Rs 10.93 and under retail plan was at Rs 10.89 as on 14 February 2008.
ICICI Prudential Equity and Derivatives Fund -Income Optimiser Plan is an open ended equity scheme, whose investment objective is to seek to generate low volatility returns by using arbitrage and other derivative strategies in equity markets and investments in short-term debt portfolio.
Birla Sun Life MF declares dividend
The Birla Sun Life mutual fund has announced the declaration of dividend under dividend option of Birla Sun Life Interval Income Fund- Quarterly Plan-Series III for its both retail and institutional plan. The AMC plans to distribute 100% of distributable surplus as on record date on the face value of Rs. 10. The record date for dividend is set as 21 February 2008.
The NAV of the scheme was recorded at Rs 10.1254 under retail plan and Rs 10.1231 under institutional plan as on 14 February 2008.
Birla Sun Life Interval Income Fund- Quarterly Plan-Series III is an interval income scheme with an objective to generate regular income through investments in debt and money market instruments.
DSP ML MF declares dividend
The DSP ML Financial mutual fund has announced the declaration of dividend under dividend option of DSP ML India T.I.G.E.R. Fund (The Infrastructure Growth and Economic Reforms Fund). The record date for dividend will be 22 February 2008.
The quantum of dividend is 50% i.e. Rs. 5.00 per unit on the face value of Rs. 10. The NAV of the scheme was recorded at Rs 27.945 as on 15 February 2008.
DSP ML India T.I.G.E.R. Fund is open ended growth scheme, whose primary investment objective is to seek to generate capital appreciation, from a portfolio that is substantially constituted of equity securities of corporates, which could benefit from structural changes brought about by continuing liberalization in economic policies by the Government and/or from continuing investment in infrastructure, both by the public and private sector.
Kotak MF launches new FMP
Name of Fund: Kotak Fixed Maturity Plan 14 month Series 3
Scheme: A close-ended bond scheme with tenure of fourteen months.
Investment Options: The scheme offers retail and institutional plan. The scheme offers investors growth option and dividend option under both the plans. The dividend option offers dividend payout and dividend re-investment facilities.
Objective: The objective of the scheme would be to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.
Fund Opens: 13 February 2008
Fund Closes: 21 January 2008
Face Value: Rs. 10
Minimum Investment Amount: The minimum investment amount under regular plan is Rs 5,000 and in multiples of Re 1 thereafter. The minimum investment amount under institutional scheme is Rs 50 lakh and in multiples of Re 1 thereafter.
Fund Manager: Mr. Deepak Agrawal
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