Mutual Funds-News 15th Feb 2008

Lotus India MF launches Lotus India Fixed Maturity Plans- 14 months -III

Lotus India Mutual Fund launched Lotus India Fixed Maturity Plans- 14 months -III. 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.

Lotus India MF launches Lotus India Fixed Maturity Plans- 13 months -IV

Lotus India MF launched Lotus India Fixed Maturity Plans- 13 months -IV. 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.

Lotus India MF declares dividend under FMP Series
The Lotus India mutual fund has announced the declaration of dividend under dividend option of Principle Pnb Fixed Maturity Plan-3 months -Series XX. The record date for dividend will be 18 February 2008. The fund house will declare the actual distributable surplus available as on the record date as dividend. The dividend is being declared on a face value of Rs. 10 per unit. The NAV of the scheme was recorded at Rs 10.2026 as on 13 February 2008. Lotus India Fixed Maturity Plan 3 Months Series XX is a close-ended debt scheme, which seeks to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme.

UTI MF declares dividend for UTI SPrEAD fund
The UTI mutual fund has announced the declaration of dividend under dividend option of UTI-Spread between Price of Equity And Derivative Fund (UTI SPrEAD Fund). The record date for dividend will be 19 February 2008. The quantum of dividend is 8% i.e. Rs. 0.80 per unit on the face value of Rs. 10. The NAV of the scheme was recorded at Rs 11.4800 as on 12 February 2008. UTI SPrEAD Fund is open-ended equity fund investing in a mix of equity, equity, debt, and money market instruments.

Kotak MF files an offer document
Kotak Mutual Fund files an offer document to launch Kotak FMP Series 27 to Series 30. The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme offers investment under two options namely dividend and growth option. Under dividend option, the unit holder will have dividend payout and reinvestment facility.

ING India MF declares dividend
ING India Mutual Fund has announced 19 February 2008 as the record date for declaration of dividend under dividend option of ING Fixed Maturity Fund-Series XXXVI. The AMC plans to distribute entire appreciation in the NAV of dividend option since inception until 19 February 2008 as dividend. The NAV under retail plan is Rs 10.1314 and for institutional plan is Rs 10.1322 as on 12 February 2008. ING Fixed Maturity Fund-Series XXXVI is a close-ended 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 omparable with alternative fixed income instruments of similar maturity.

Standard Chartered MF files an offer document
Standard Chartered Mutual Fund files an offer document to launch Standard Chartered Ancillary Companies Fund. The investment objective of the scheme is to generate long-term capital growth from a portfolio of predominantly equity and equity related instruments. The scheme offers the dividend and growth option for the investment under the scheme. The dividend reinvestment and dividend payout facilities are available under dividend option.

Principle Pnb MF announces dividend under FMP Series
The Principle Pnb mutual fund has announced the declaration of dividend under dividend option of Principle Pnb Fixed Maturity Plan-91 Days-Series XII. The record date for dividend will be 18 February 2008. The AMC plans to distribute entire appreciation in the NAV of dividend option between 20 November 2007 to 18 February 2008 as dividend. The NAV of the scheme was recorded at Rs 10.1969 as on 12 February 2008. Principle Pnb Fixed Maturity Plan-91 Days-Series XII is close-ended debt scheme with an investment objective of building an income-oriented portfolio and providing returns along with regular liquidity to investors.

HDFC MF call off 90Days Plan
HDFC Mutual Fund has shelved its 90-day income plan under HDFC Fixed Maturity Plans Series-VI. An official from the fund house said, "We have called off the scheme, as it did not bring out good response but we may launch it later."

Lotus India MF launches Lotus India Fixed Maturity Plans- 375 Days -VII
Lotus India Mutual Fund launched Lotus India Fixed Maturity Plans- 375 Days -VII. 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.

Thermax stocks likely to benefit MF scheme
Share prices of Thermax went up by 5.24% to Rs. 667.00 reported at BSE at 11.04 a.m. on 14 February 2008 against previous day close of Rs 633.80. The rising share prices may have positive impact on NAV of mutual fund schemes, which holds their stake in the company. Canara Robeco Emerging Equities (G) is likely to gain most as it has the highest percentage holding of the stocks of the company compared to its peer groups who have invested in the stocks of the company. Canara Robeco Emerging Equities (G) was holding 7.60% of its total portfolio size invested in the stocks of the company as on 31 January 2008. The scheme holds 20000 units of the company in January 2008.

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