Birla Sun Life MF rolls out another fixed term plan
Birla Sun Life MF has rolled out a new scheme called Birla Fixed Term Plan Series AN and it is a close end debt scheme. The scheme seeks to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme.
The scheme will have retail plan and institutional plan with a common portfolio. Each plan under the scheme will have dividend and growth option. The dividend option shall have payout and reinvestment facility. The minimum investment amount under retail plan is Rs 5,000 and in multiple of Re 1 thereafter. The minimum investment amount under institutional plan is Rs 1 lakh and in multiple of Re 1 thereafter.
ICICI MF launches new FMP Series
ICICI MF has rolled out a new fund called ICICI Prudential Fixed Maturity Plan - Series 43 - 13 Months Plan A and it is a close-ended debt fund. The investment objective of the scheme is to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the scheme.
There are two options available under the scheme i.e. retail and institutional options. Cumulative and dividend sub-options will be available under the scheme. Dividend payout is the only facility available under dividend sub-option. Retail option shall be the default option and cumulative sub-option shall be the default sub -option. The fund will invest up to 100% in money market instruments, short term and medium term debt securities and debt instruments. The scheme will invest in debt securities which having tenure of approximately 390 days. The investment in securitised debt will be up to 50% of the net asset of the scheme. Exposure in derivatives instruments will be up to the extent of 50% of the net assets. The investment in central and state government securities will be up to 50% of the net asset of the plan. Due to its close-ended structure the scheme does not charge any entry load. There will be an exit load of 2.00% of the applicable NAV for the redemption made during the repurchase facility period.
DSP Merrill Lynch to raise $500 m
Kolkata: DSP Merrill Lynch Fund Managers Ltd is planning to raise $500 million through its new fund, DSP Merrill Lynch Natural Resources and New Energy Fund. The company, at present, manages assets worth around $7 billion. The NFO, an open ended equity scheme would invest in companies from the natural resources, energy and new energy sectors. 65 percent of the corpus would be invested in the Indian companies from the natural resources and the energy sector, while the rest would be invested in foreign companies through the Merrill Lynch International Investment funds which include New Energy Fund and World Energy Fund, the source said.
SBI MF launches new debt fund Series
SBI MF has unveiled a new fund called SBI Debt Fund Series - 13 Months Series 7 and it is a close ended debt scheme. The objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in portfolio comprising of debt instruments.
The fund will invest 0%-100% in Government of India dated securities and treasury bills. The investment in securitised debt will be up to 20% of the exposure to AAA/AA+ bonds, and money market instruments.
Deutsche MF unveils new Fixed Term Fund Series 46
Deutsche Mutual Fund has unveiled a fund called DWS Fixed Term Fund Series 46 and it is a close-ended debt fund with maturity of 395 days from the date of allotment. The objective of the fund is to generate regular income by investing in fixed income securities and money market instruments, usually maturing in line with the time profile of the fund. The fund will invest up to 100% in domestic debt instruments including government securities and money market instruments and securitised debt. The investment in securitised debt would be up to a maximum of 100% of the net assets of the scheme. The scheme will not invest in foreign securities and foreign securitized debt. The exposure to derivatives shall be restricted to 50% of the net assets of the scheme.
ING MF alters offer document
ING Mutual Fund has decided that the dividend declaration frequency under the dividend option of Optimix Active Short Term Fund shall be on a fortnightly basis, subject to availability of distributable surplus. The record date for declaration of dividend will be every 1st and 16th of every month (or the immediate following business day, if 1st or 16th of the month referred above is a holiday/ non business day).
However as per the trustees' approval and internal norms, the ex-dividend NAV shall not fall below Rs 10.05 per unit on account of dividend declaration. All other terms and conditions of the offer documents remain unchanged.
HDFC MF Revises Additional Investment Amount in HDFC Floating Rate ST-Wholesale Plan
HDFC Mutual Fund has announced a change in the minimum additional application amount in the wholesale plan of HDFC Floating Rate Short Term Plan. Currently minimum application amount is Rs. 1 cr and minimum additional investment is Rs. 1 cr. Effective March 24, 2008 the minimum additional investment will be reduced to Re. 1.
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