JM Financial MF revises load structure
JM Financial mutual fund has announced the revision in the load structure for JM Money Manager Fund-Super plan.
According to the revised load structure, the fund will charge an exit load 0.10% if the investment is redeemed within 30 calendar days from the date of allotment. Before revision of the load structure, the scheme did not ask for any exit load.
The scheme will not charge any entry load to the investors.
The aforesaid changes will be effective from 5 March 2008.
Kotak Mahindra MF revises load structure
Kotak Mahindra mutual fund has announced the revision in the load structure for Kotak Flexi Debt scheme.
According to the revised load structure, the fund will not charge an exit load. The existing exit load is 0.10% if the investment is redeemed within 7 days from the date of investment. Also the scheme will not charge any entry load to the investors.
The aforesaid changes will be effective from 7 March 2008.
ING MF launches OptiMix Active Short Term Fund
Name of Fund: OptiMix Active Short Term Fund
Scheme: Open-ended fund of funds scheme
Objective: The scheme aims to generate returns from a portfolio of debt funds with the average maturity period of the portfolio up to 18 months, accessed through the diverse investment styles of underlying schemes selected in accordance with the OptiMix Multi Manager Investment process.
Asset Allocation: The fund will invest around 90-100% in debt funds (including liquid funds, liquid plus funds, fixed maturity plans, short-term funds, floating rate funds and money market funds. The average maturity period of the portfolio of these funds would be up to 18 months). The scheme will invest 0-10% of its equity portfolio in money market securities.
Fund Opens: 3 March 2008
Fund Closes: 10 March 2008
Face Value: Rs.10
Investment Options: Growth and dividend option with dividend payout and reinvestment facility.
Entry Load: Nil
Exit Load: Nil
Minimum Investment Amount: The minimum investment amount is Rs. 5000 and in multiple of Rs 1 thereafter.
Minimum subscription amount: Rs 1 lakh
Benchmark Index: Crisil Liquid fund Index.
Fund Manager: Mr. Arvind Bansal
JM Financial MF collects Rs.210 crore through its interval plan
JM Financial Mutual Fund has collected Rs 210 crore through its JM Interval Fund Quarterly Plan 6 during its initial offer period from 31 January 2008 to 28 February 2008.
The JM Interval Fund-Quarterly Plan 6, which is close-ended debt oriented interval schemes. The objective of the scheme is to seek to generate regular returns through investment into money market securities / debt securities normally maturing in line with the time profile of the plan.
The JM Interval Fund-Quarterly Plan 6 will offer two plans - regular plan and institutional plan. This plan will have dividend and growth option. Under the dividend option, an investor may choose for payout or reinvestment of the dividend amount.
The fund will invest 0%-90% in government securities and other fixed income/debt securities, which includes corporate bonds and securitised debt. The investment in securitised debt may go up to 70% of the portfolio. The fund will invest 10%-100% in money market instruments.
The scheme will open for fresh purchases and redemption quarterly.
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