Mutual Funds News 10 April 2008

SBI MF declares dividend

SBI mutual fund has announced the declaration of dividend for SBI Arbitrage Opportunities Fund and Magnum Sector Funds Umbrella-Emerging Business Fund. The record date for dividend for both the schemes will be 28 March 2008. The details of the dividend are as follow:

Name of the Scheme Quantum Of dividend Face Value Per unit NAV as on 18 March 2008 (in Rs.) Per unit (Rs) (%)

SBI Arbitrage 0.60 6.00 10.00 11.3593 Opportunities Fund

Magnum Sector Funds 2.50 25.00 10.00 19.21 Umbrella-Emerging Business Fund

10 Apr 2008 | 10:10

Franklin Templeton MF declares dividend under its fixed horizon series

Franklin Templeton Mutual Fund has announced the declaration of dividend for Templeton Fixed Horizon Fund-Series I-13 Months Plan. The record date is set as 15 April 2008. The fund house has decided to distribute 100% of surplus as on record date on the face value of Rs 10.

Templeton Fixed Horizon Fund-Series I-13 Months Plan was launched in March 2007. It is a close-ended income fund that seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities with a maturity profile generally in line with the fund's duration.

10 Apr 2008 | 10:24

Kotak MF declares dividend

Kotak Mutual Fund has announced 15 April 2008 as the record date for declaration of dividend under dividend option of Kotak Fixed Maturity Plan 13 months Series 1. The AMC offers dividend under both retail and institutional plan.

The fund house has decided to distribute 100% of surplus available as on record date. The NAV for the scheme under retail plan was Rs. 10.0847 and that of under institutional plan was Rs 10.0428 as on 8 April 2008.

Kotak Fixed Maturity Plan 13 months Series 1 was launched in March 2007. The scheme is a close-ended debt fund with an investment objective of generating returns through investments in debt and money market instruments with a view to significantly reduces the interest rate risk.

10 Apr 2008 | 10:42

Standard Chartered Arbitrage Fund declares dividend

Standard Chartered Mutual Fund has announced a dividend of 0.8% i.e. Rs 0.08 per unit on the face value of Rs 10 in its open-ended equity scheme Standard Chartered Arbitrage Fund Plan A and Plan B.

The objective of the scheme is to generate capital appreciation and income by predominately investing in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments.

The record date for the same has been fixed as 15 April 2008. The NAV under Plan A of the scheme was Rs 11.1962 and that of under Plan B was Rs 11.2690 as on 8 April 2008.

10 Apr 2008 | 16:55

Mutual funds continue buying

Mutual funds (MFs) bought shares worth a net Rs 214.40 crore on Wednesday, 9 April 2008, compared to their buying of Rs 89.80 crore on Tuesday, 8 April 2008.

MFs net inflow of Rs 214.40 crore on 9 April 2008 was a result of gross purchases of Rs 644.30 crore and gross sales Rs 429.90 crore. The 30-share BSE Sensex jumped 202.89 points or 1.3% at 15,790.51 on that day.

MFs were net sellers of shares worth Rs 379.70 crore in this month, till 8 April 2008.

10 Apr 2008 | 17:15

UTI MF expands distribution network

UTI Mutual Fund (UTI MF) announces the opening of a new UTI Financial Centre (UFC) at Patiala. The new UFC will be located on the Ground Floor, at SCO No.43, New Leela Bhawan, Patiala (Phone no.0175-2300341).

The new UFC was inaugurated on 10 April 2008. On the occasion, Mr. D Mohanty, Country Head-Retail, UTI Asset Management Company Limited (UTI AMC) said, As the first mutual fund provider in India, UTI has played a pioneering role in the development and growth of Indias capital market. We continue our efforts to reach the benefits of investing in mutual funds to our investors by opening UFCs across the length and breadth of the country.

UFC at Pataila will provide easy access to investors in the areas of Patiala, Fatehgarh, Sangrur, Kaithal and Mansa.

UTI Mutual Fund reaches clients through a number of distribution channels, including retail distribution consisting of regional offices, UTI Financial Centres, satellite offices, district representatives and collection centres, and independent financial advisors. Other distribution channels consist of institutions, private and foreign banks, PSU banks and post offices and corporate distribution houses.

Categories: News