ICICI Prudential Emerging STAR - Adding to textiles, finance
ICICI Prudential Emerging STAR is a three-year-old, mid-cap focussed fund, but with a diversified basket of sectors and stocks. Although on a three-year CAGR basis, the fund has outperformed its benchmark Nifty Junior, its performance over the last year has been indifferent. Over this period, it has under-performed its benchmark considerably. With a portfolio of over 50 stocks the basket does appear diversified. Both the sector and stock preferences have been off the beaten track, vis-a-vis the choices of other diversified funds. In the October 2007-January 2008 period, the fund's corpus grew 2.4 per cent to Rs 917 crore, while the NAV grew 0.95 per cent to Rs 34.57. This may indicate a net inflow into the fund during these three months. In the January stock market correction, as with other midcap funds, the fund saw an over 20 per cent NAV erosion.
Sahara MF rolls out another FMP
Sahara Mutual Fund has rolled out a fund called Sahara Fixed Maturity Plans- 395 Days-Series 2 and it is a close-ended income scheme. The investment objective of the scheme is to generate income by investing into debt and money market securities, normally maturing in line with the time profile of the scheme.
Sahara Fixed Maturity Plans- 395 Days-Series 2 offers two options i.e. growth and dividend. There will no entry load charged for the scheme due to its close-ended structure. The scheme may charge an exit load of 2% if redemption is made before 6 months from the date of allotment, 1.50% if redemption is done from 6 months and before 9 months from date of allotment. There will be 1% an exit load if investment units are redeemed from 9 months of date of allotment to 1 day before maturity.
The scheme may invest 0-100% in money market instruments including repo. It will have an investment of 0-100% in government securities. Also, the scheme may have exposure of 0-100% in corporate bonds and other debt instruments. The maturity of any instrument in the portfolio will be less than 2 years. Investments in securitized debt including pass-through certificates (PTCs) may go up to 50% on defensive considerations.
Sahara MF launches Sahara Fixed Maturity Plans- 3 Months-Series 4
Sahara MF has launched a new fund called Sahara Fixed Maturity Plans- 3 Months-Series 4. It is a close-ended income scheme. The investment objective of the scheme is to generate income by investing into debt and money market securities, normally maturing in line with the time profile of the scheme.
Sahara Fixed Maturity Plans- 3 Months-Series 4 offers two options i.e. growth and dividend. There will no entry load charged for the scheme due to its close-ended structure. The scheme may charge an exit load of 2% if redemption is made before 1 month from the date of allotment, 1.50% if redemption is done from 1 month and before 2 months from date of allotment. There will be 1% an exit load if investment units are redeemed from 2 months of date of allotment to 1 day before maturity. The scheme may invest 0-100% in money market instruments including repo. It will have an investment of 0-100% in government securities. Also, the scheme may have exposure of 0-100% in corporate bonds and other debt instruments. The maturity of any instrument in the portfolio will be less than 6 months. Investments in securitized debt including pass-through certificates (PTCs) may go up to 50% on defensive considerations.
ING MF launches ING FMP- Series 42
ING Mutual Fund has unveiled a fund called ING FMP- Series 42 and it is a ING Fixed Maturity Fund Series 43 is a close-ended bond scheme offering an investment plan of 91 days maturity. The scheme will be investing in a portfolio of government securities, or highly rated corporate bonds maturing close to the maturity of the scheme so 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.
The scheme provides two plans i.e. retail and institutional plan with a sub-option of growth, dividend. Asset allocation: 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. The minimum investment amount is Rs 5,000 and in multiple of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 1 crore in multiple of Re 1 thereafter
Tata MF launches Growing Economies Infrastructure Fund
Tata Mutual Fund has unveiled a fund called Tata Growing Economies Infrastructure Fund and it is an equity-diversified scheme. The investment objective of the scheme is to generate capital appreciation / income by investing predominantly in equities of companies in infrastructure and other related sectors in India and other growing economies of the world. The investment focus would be guided by the growth potential and other economic factors of the countries.
Tata Growing Economies Infrastructure Fund offers two options i.e. growth and dividend. The minimum investment for the scheme is Rs 10,000 and in multiple of Re 1 thereafter.
Principal Pnb MF revises load structure
Principal Pnb mutual fund has announced the revision in the exit load structure for Principal Government Securities Fund-Investment Plan. According to the revised load structure the fund will charge for investment below Rs 25 crore an exit load of 1% if the investment is redeemed within 365 days from the date of allotment. However, the scheme may not charge an exit load for investment of Rs 25 crore and above.
The scheme did not charge any exit load under existing load structure. The aforesaid changes will be effective from 18 February 2008. Principal Government Securities Fund-Investment Plan is an open ended dedicated gilt scheme. The investment objective of the scheme is to generate risk free returns through investment in sovereign securities and thus provide medium term capital gains and income distribution to its unit holders, while at all time emphasizing the importance of capital preservation.
JM Financial MF declares dividend under quarterly plan
The JM Financial mutual fund has announced the declaration of dividend under dividend option of JM Financial Fixed Maturity Fund-Series VI-Quarterly Plan 4. The record date for dividend will be 20 February 2008. The AMC plans to distribute realized appreciation in the NAV of the plan/option from 27 December 2007 till 20 February 2008 as dividend. The NAV of the scheme under dividend option of regular plan was recorded at Rs 10.1114 and dividend option of institutional plan at Rs 10.1168 as on 14 February 2008. JM Financial Fixed Maturity Fund-Series VI-Quarterly Plan 4 is a close-ended income scheme with an investment objective of generating regular income through investment in fixed income instruments normally maturing in line with the time profile of the respective plan.
HDFC MF rolls out 15 Months plan under HDFC FMP -Series VII
HDFC Mutual Fund has rolled out a fund called HDFC Fixed Maturity Plan 15 Months February 2008 and it is a close end income fund. The investment objective of the fund is to generate regular income through investments in debt, money market instruments, and government securities. Options: HDFC Fixed Maturity Plan 15 Months February 2008 offers wholesale plan and retail plan with growth and dividend option.
HDFC MF launches 90 Days plan under HDFC FMP -Series VII
HDFC Mutual Fund has unleashed a scheme called HDFC Fixed Maturity Plan 90 Days February 2008 and it is a close end income fund. The investment objective of the fund is to generate regular income through investments in debt, money market instruments, and government securities. HDFC Fixed Maturity Plan 90 Days February 2008 offers wholesale plan and retail plan with growth and dividend option.
HSBC MF plans to unveil HSBC Infrastructure and Real Estate Fund
HSBC MF is planning to unveil a fund called HSBC Infrastructure and Real Estate Fund. HSBC Infrastructure and Real Estate Fund is an open-ended equity scheme. The investment objective of the scheme is to provide long term capital appreciation predominantly through actively managed investment in equity/equity related instruments of companies operating in the Infrastructure and Real Estate sectors. The scheme may also invest surplus funds in debt and money market instruments. The scheme offers growth and dividend options. The dividend option offers dividend payout and dividend reinvestment facility. The scheme will invest up to 65-100% of its portfolio in equity and equity related instruments of infrastructure and real estate companies. The scheme may invest 0-35% in other equity and equity related instruments and 0-35% investment in debt and money market instruments. Investment in securitised debt will not exceed 35% of the corpus. Investment in foreign securities should not exceed 50% of the assets of the scheme.
HSBC MF files another offer document
HSBC Mutual Fund is planning to unveil a scheme called HSBC Agri and Natural Resources Fund. HSBC Agri and Natural Resources Fund is an open-ended equity scheme. The investment objective of the scheme is to provide long term capital appreciation predominantly through actively managed investment in equity/equity related instruments of companies operating in the agriculture and natural resources sectors. The scheme may also invest surplus funds in debt and money market instruments.
The scheme offers growth and dividend options. The dividend option offers dividend payout and dividend reinvestment facility. The scheme will invest up to 65-100% of its portfolio in equity and equity related instruments of infrastructure and real estate companies. The scheme may invest 0-35% in other equity and equity related instruments and 0-35% investment in debt and money market instruments. Investment in securitised debt will not exceed 35% of the corpus. Investment in foreign securities should not exceed 50% of the assets of the scheme.
HSBC MF comes out with dividend
HSBC Mutual Fund has announced 21 February 2008 as the record date for declaration of dividend under dividend option of HDFC Interval Fund-Plan I. The fund house has decided to distribute 100% of surplus available under its both retail and wholesale plans as on record date. The NAV for the scheme was Rs. 10.1165 as on 14 February 2008. HDFC Interval Fund-Plan I is a debt oriented interval scheme, seeks to generate returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of the respective plan.
Kotak MF launches new FMP
Kotak Mutual Fund has rolled out a scheme called Kotak Fixed Maturity Plan 14 month Series 3 and it is a close-ended bond scheme with tenure of fourteen months. 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. 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. 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.
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