22 Apr 2008 | 10:18
HDFC MF declares NFO period
HDFC Mutual Fund has announced that the New Fund Offer (NFO) period of HDFC FMP 90D April 2008 and HDFC FMP 18M April 2008 (2), fixed maturity plans under HDFC Fixed Maturity Plans-Series VII, a closed ended income scheme, will open for subscription on 24 April 2008 and close for subscription on 28 April 2008.
The investment objective of the plans under the scheme is to generate regular income through investments in Debt/Money Market Instruments and Government Securities.
22 Apr 2008 | 10:27
DSP Merrill Lynch MF declares NFO period
DSP Merrill Lynch Mutual Fund has announced that the New Fund Offer (NFO) period of DSP Merrill Lynch FMP 3M Series 8, a closed ended income scheme, with a maturity profile of three months from the date of allotment will be from the commencement of banking hours on 22 April 2008 to close of the banking hours on 29 April 2008.
The investment objective of the scheme is to seek capital appreciation by investing in portfolio of debt and money market securities. It is envisaged that the portfolio will display a maturity profile that is generally in line with the term of the scheme.
22 Apr 2008 | 10:48
Bajaj Financial Service plans foray into AMC business
The new financial services arm of the Rahul Bajaj group, Bajaj Financial Service (BFL), plans to foray into asset management business and set up a company to distribute financial services products.
The details of the distribution company will be finalized by December. The company is also open for joining hands with foreign group for the mutual fund business.
22 Apr 2008 | 10:53
ING L.I.O.N. merged into ING Core Equity
ING Mutual Fund has announced the merger of ING L.I.O.N. Fund with ING Core Equity Fund due to their similar investment characteristics.
The Bonus option of the L.I.O.N. Fund will be merged into its Growth option and subsequently respective options of this fund will be merged with those of ING Core Equity Fund. Investment objective and the asset allocation pattern of the Core Equity Fund will remain the same.
Investors who do not approve of the merger may exit from these funds between 24 April 2008 and 23 May 2008 without paying any exit load.
22 Apr 2008 | 10:58
Tata MF declares dividend
Tata Mutual Fund has announced record date for the declaration of dividend under Tata Fixed Horizon Fund Series 7- Scheme D.
The quantum of dividend would be 100% of the surplus available as on the record date. Record date of the same has been fixed as 25 April 2008.
22 Apr 2008 | 17:20
Mutual funds in buying mode
Mutual funds (MFs) bought shares worth a net Rs 99.60 crore on Monday 21 April 2008 compared to their selling of Rs 86.30 crore on Thursday, 17 April 2008.
MFs net inflow of Rs 99.60 crore on Monday 21 April 2008 was a result of gross purchases Rs 734.80 crore and gross sales Rs 635.20 crore. Sensex was up 258.13 points or 1.57% at 16,739.33 on that day.
MFs were net buyers of shares worth Rs 21.09 crore in this month, till 21 April 2008.
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