JM Financial - FY 08 results by Jun 30, 2008
JM Financial Ltd has informed that the Company shall publish its Audited Financial Results within a period of 3 months of the close of its accounting year ended on March 31, 2008. In view of this, the Company will not publish its Unaudited Financial Results for the last quarter within the stipulated period of one month of the closing of the accounting year.
Vesuvius India - AGM on Apr 29, 2008
Vesuvius India Ltd has informed that the 17th Annual General Meeting (AGM) of the members of the Company will be held on April 29, 2008, inter alia, to receive and consider the Balance Sheet as at December 31, 2007, the relative Profit and Loss Account for the year ended on that date and the Reports of the Auditors and Directors thereon, to appoint Directors in place of those retiring and to appoint Auditors.
Uniroyal Industries - FY 08 results by Jun 30, 2008
Uniroyal Industries Ltd has informed that the Company will publish Audited Financial Results for the Financial Year ending on March 31, 2008 with in a period of 3 months from the end of the last quarter. Therefore quarterly un-audited financial results for the last quarter ended on March 31, 2008 will not be published.
Hitachi Home and Life Solutions (India) Ltd - Publish Audited Results
Hitachi Home And Life Solutions (India) Limited has informed that: "We shall publish Audited Financial Results for the financial year ended on 31st March, 2008 within 3 months and therefore we are not going to publish unaudited financial results for the quarter ended on 31st March, 2008 within one month".
Patni Computer - Press Release
Patni Computer Systems Ltd on April 08, 2008 has announced the appointment of three new members to its senior European management team. The new additions to the team will be instrumental in driving forward Patni's aggressive European growth strategy.
Peer Gribbohm, Senior Vice-President, Strategic Market Development will be responsible for the development of Patni's business across Europe.
Derek Kemp, Senior Vice-President will be responsible for driving growth in the Communications, Media and Entertainment sector within Europe.
Jeremy Mackinlay, Marketing Director will be responsible for increasing the profile of the Patni brand in Europe.
"We are experiencing major growth in Europe, recruiting from a pan-European talent pool and actively building the brand across the region. I'm delighted to have three valuable members on board to drive and support Patni's European growth plans." said Brian Stones, Executive Vice-President, Patni.
The European region is gaining in significance for Patni and accounted for 16 per cent of its global revenues for the year ending December 31, 2007. Patni already enjoys a strong presence in European countries, including UK, Germany, the Netherlands and Sweden.
11 Apr 2008 | 11:10 HDFC MF revises dividend provision
HDFC mutual fund has revised dividend provision under the following schemes. The changes will be applicable on a prospective basis from 15 April 2008.
| Name of the Scheme | Existing Provision | Revised Provision |
| HDFC Equity Fund HDFC Top 200 Fund HDFC Capital Builder Fund HDFC Prudence Fund HDFC TaxSaver | Dividend plan in case growth plan or dividend plan is not indicated | Growth plan in case dividend plan or growth plan is not indicated. |
| HDFC High Interest Fund | Quarterly dividend payout in case growth plan or dividend plan is not indicated under the dividend plan. | Growth Plan in case dividend plan or growth plan is not indicated. Quarterly dividend payout in case quarterly dividend option, half yearly dividend option and yearly dividend option is not indicated under the dividend plan. |
| HDFC High Interest Fund - Short Term Plan | Dividend option in case dividend option or growth option is not indicated. | Growth option in case dividend option or growth option is not indicated. |
| HDFC Cash Management Fund - Savings Plan HDFC Cash Management Fund - Savings Plus Plan-Retail & Wholesale Option | Dividend option in case dividend option or growth option is not indicated. | Growth option in case dividend option or growth option is not indicated. |
| HDFC Cash Management Fund - Call Plan | Daily dividend option in case daily dividend option or growth option is not indicated. | Growth option in case daily dividend option or growth option is not indicated. |
11 Apr 2008 | 10:07
Canbank MF declares dividend
Canara Robeco has announced dividend in the following schemes:
Date of dividend: 10 April 2008
INDIVIDUALS & H.U.F. OTHER THAN IND. & HUF
CANARA ROBECO LIQUID - INST. - DAILY DRP 0.00202611 0.00202611
CANARA ROBECO LIQUID - INST. - WEEKLY DIV N.A. N.A.
CANARA ROBECO LIQUID - RETAIL - DAILY DRP 0.00202611 0.00202611
CANARA ROBECO FLOATING S. T. - DAILY DRP 0.00163647 0.00163647
CANARA ROBECO FLOATING S. T. - WEEKLY DIV 0.01223456 0.01223456
CANARA ROBECO LIQUID PLUS - INST. - DAILY DRP 0.00367897 0.00342410
CANARA ROBECO LIQUID PLUS - INST. - WEEKLY DIV 0.01716851 0.01597913
CANARA ROBECO LIQUID PLUS - RETAIL - DAILY DRP 0.00359137 0.00334257
11 Apr 2008 | 10:16
JM Financial MF declares dividend
The JM Financial mutual fund has announced the declaration of dividend under dividend option of JM Fixed Maturity Fund Series IV- 13 Months Plan. The record date for dividend will be 15 April 2008.
The AMC plans to distribute realized appreciation in the NAV of the plan / option till the record date as dividend. The NAV of the scheme was recorded at Rs 10.0329 as on 9 April 2008.
JM Fixed Maturity Fund Series IV- 13 Months Plan is a close-ended income scheme comprising various plans seeking to generate regular returns through investment in fixed income securities normally maturing in line with the time profile of the respective plan.
11 Apr 2008 | 10:22
ICICI MF declares dividend
ICICI Mutual Fund has announced 15 April 2008 as the record date for declaration of dividend under dividend option of the following schemes:
Scheme Name Recommended rate of dividend (Face value of Rs. 10 each)
ICICI Prudential Fixed Maturity Plan -Series 39 - Sixteen Weeks Plan A *100% of distributable surplus as on the record date
ICICI Prudential Fixed Maturity Plan -Series 35- Thirteen Months Plan A
ICICI Prudential Interval Fund -Half Yearly Interval Plan I
ICICI Prudential Interval Fund -Quarterly Interval Plan III
11 Apr 2008 | 11:30
Canara Robeco MF to merge 2 schemes
Indian mutual fund firm Canara Robeco Asset Management Co. Ltd. announced merger of Canara Robeco Expo scheme and Canara Robeco Fortune 94 into Canara Robeco Equity Diversified scheme.
The merger will be effective from 23 April 2008. The AMC added that those not willing to accept the change could redeem units without paying any exit fee up to 22 April 2008.
11 Apr 2008 | 15:52
Principal Pnb MF ties up with Cosmos Co-operative Bank
Principal Pnb Asset Management Company has entered into a partnership with Cosmos Co-operative Bank (Cosmos Bank) for distribution of entire range of Principal Pnb AMC schemes through its branches.
Mutual funds are increasingly becoming a preferred investment avenue for retail investors. Principal Pnb AMCs strategic alliance with Cosmos Co-operative Bank (Cosmos Bank) will help them to enhance the accessibility of their products across the country.
11 Apr 2008 | 17:31
Mutual funds step up buying
Mutual funds stepped buying on the bourses putting in Rs 316.70 crore on Thursday 10 April 2008 compared to their buying of Rs 214.40 crore on Wednesday, 9 April 2008.
The inflow of Rs 316.70 crore on Thursday 10 April 2008 was a result of gross purchases Rs 610.20 crore and gross sales Rs 293.50 crore. Sensex fell 95.41 points or 0.60% at 15,695.10 on that day.
Mutual funds have sold shares worth a net Rs 63.10 crore in this month so far.
11 Apr 2008 | 19:16
110 Equity mutual funds outperformed Sensex
Equity mutual funds as a class posted an average return of 17.19%, underperforming the Sensex return of 19.00%, over the one-year period ended 10 April 2008. Of the 259 equity schemes, 132 exceeded the category average of 17.19% in the one-year period, while 110 outperformed the Sensex that is posted returns of 19.00%. The topper was Reliance Diversified Power Sector (G) with 76.70% return.
In the equity category, the diversified category and tax planning underperformed the Sensex, giving a category average of 18.41%; and 18.84% respectively.
In the equity diversified category, out of the 144 schemes, 69 exceeded the category average of 18.41%, while 65 outperformed the Sensex return of 19.00%, over the one-year period ended 10 April 2008. Stan Chart Premier Equity Fund with growth option ranked the first position, with 51.08% return, followed by Reliance Regular Savings Fund - Equity (G) with 51.06% return. DWS Investment Opportunity Fund (G) secures the third position with 47.37% in 1-year period.
In the mid-cap segment, Birla Midcap Fund (G) the topper, with 29.88% return, exceeding the category average of 15.11%, followed by Sahara Midcap Fund (G) with 28.12% return. Out of 24 schemes, seven schemes have outperformed the BSE MidCap index, which has posted 18.63% returns in 1-year period.
ICICI Pru FMCG Fund (G) was the topper in the FMCG category, with 20.04% returns, outperforming the category average of 16.89% while under performing the BSE FMCG index with 29.63% returns.
In the Tax-planning category, of the 29 schemes, 14 outperformed the category average of 18.84%. Taurus Libra Tax shield Scheme, with 54.57% return, ranked the highest position.
In the Pharma segment, of the five schemes, 2 schemes exceeded the category average, which had posted negative returns of 0.27%. Reliance Pharma Fund (G) tops in the chart with returns of 13.29%. All five schemes underperformed the Sensex return of 19.00%.
Among the index funds, 11 of the 22 schemes exceeded the category average of 18.51%. Birla Index Fund (G) topped the category with 25.13% return, followed by ICICI Pru Index Fund-Nifty Plan with 25.07% returns.
In the IT category, three of the seven schemes outperformed negative category average of 18.27%, while five schemes outperformed the CNX IT return, which has posted negative returns of 25.10%. DSP ML Technology.com (G) was the topper, with positive returns of 1.60%, followed by Birla Sun Life New Millennium Fund (G), with negative returns of 9.78%. Four out of seven schemes exceeded the BSE Infotech index, which gave negative returns of 23.85% return.
Among the Fixed Maturity Plan, 100 of the 150 schemes exceeded the category average of 10.04%. SBI Debt Fund Series - 13 Months - 3 (G) topped the category with 11.33% return, followed by Reliance Fixed Horizon - III Annual-Series III Institutional (G) (G) with 11.25% return.
In the Floating Rate Income Fund, 19 of the 33 schemes outperformed the category average of 8.11%, while 26 exceeded the Crisil Composite Bond Fund Index return of 7.79%. Kotak Floater Long Term (G) was the topper with 9.29% return, followed by HSBC Floating Rate - LT - Institutional (G) with 9.22% return.
Among the Gilt Fund, 34 of the 65 schemes exceeded the category average of 6.70%. Birla Gilt Plus - Regular (G) topped the category with 10.74% return.
In the Monthly Income Plan, 17 of the 46 schemes outperformed the category average of 9.23%, while 14 exceeded the C Mipex (MIP Blended Index) return of 10.56%. DBS Chola Monthly Income Plan (G) topped the category with 27.45% return, followed by Reliance Regular Savings Fund - Balanced (G) with 20.97% return.
In the Short Term Income Plan, 33 of the 38 schemes outperformed the category average of 8.07%, while 29 exceeded the Crisil Short-Term Bond Fund Index return of 8.64%. HDFC High Interest Fund Short Term Plan (G) topped the category with 10.63% return, followed by Templeton India Short Term Income - Institutional (G) with 10.49% return.
11 Apr 2008 | 15:46
ING MF launches ING FMF- Series 40
Name of Fund: ING Fixed Maturity Plan- Series 40
Scheme: ING Fixed Maturity Fund Series 40 is a close-ended bond scheme offering an investment plan of 366 days maturity.
Objective: 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.
Fund Opens: 10 April 2008
Fund closes: 15 April 2008
Face Value: Rs 10 per unit
Investment Options: 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 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 scheme will invest a higher proportion of its corpus in high and medium investment grade securities to ensure high running yield of the portfolio. Investment in money market instruments is for the purpose of meeting liquidity requirements. Nearing the completion of the scheme, the fund may invest 100% of the portfolio in money market instruments so as to protect the interest of the investors.
Entry load: The scheme does not charge an entry load as it is of close-ended nature.
To provide liquidity to investors, the fund proposes to provide repurchase facility in the scheme on 14 July 2008, 12 October 2008, 10 January 2009, and 15 April 2009. The investors can submit their repurchase requests at any official points of acceptance of transactions on any date after the allotment.
If repurchase request is submitted after 16 April 2008 and on or before 14 July 2008 the applicable Contingent Deferred Sales Charge (CDSC) will be 3.00%. CDSC will be reduced to 2.00% if repurchase request is submitted from 14 July 2008 to 12 October 2008. If repurchase request is submitted after 12 October 2008 and on or before 10 January 2009, the applicable CDSC will come down to 1.00%. If repurchase request is submitted after 10 January 2009 and on or before 15 April 2009 the applicable CDSC will be further come down to 0.75%.
If repurchase request is submitted after 15 April 2009 and on 16 April 2009 (maturity) there will be no CDSC.
Minimum Investment Amount: The minimum investment amount under retail plan is Rs 5,000 and in multiples of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 1 crore in multiples of Re 1 thereafter.
Benchmark index: CRISIL Liquid Fund Index
Fund Manager: Mr. Prashant Singh
11 Apr 2008 | 11:45
Deutsche MF launches new Fixed Term Fund Series 49
Name of Fund: DWS Fixed Term Fund Series 49
Scheme: It is a close-ended debt fund with maturity of 12 months from the date of allotment.
Objective: 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.
Asset Allocation: 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 invest in derivatives only for the purpose of hedging and portfolio balancing, as permitted under the Regulations and guidelines and the exposure to derivatives shall be restricted to 50% of the net assets of the scheme. The scheme will not invest in foreign securities and foreign securitized debt.
Fund Opens: 7 April 2008
Fund Closes: 23 April 2008
Face Value: Rs 10
Investment Options: The investors will have the choice of two plans viz. regular plan and institutional plan. Each plans offers growth and dividend option. The dividend option offers sub option of dividend payout.
Entry Load: There will no entry load charged for the scheme due to its close-ended structure.
Exit Load: The scheme charges an exit load of 2.00% if the investment is redeemed any time from the date of allotment but before maturity date.
Minimum Investment Amount: The minimum investment amount under regular plan is Rs. 5,000 and in multiples of Re 1 thereafter. The minimum investment amount under institutional plan is Rs. 1 crore and in multiples of Re 1 thereafter.
Target amount: Rs.1 crore
Benchmark Index: CRISIL Short Term Bond Fund Index
Fund Manager: Mr. Suresh Soni.
11 Apr 2008 | 10:29
ICICI Pru FMP Series 42- 6 Months Plan C extends NFO period
ICICI Prudential mutual fund has extended the new fund-offering (NFO) period of ICICI Prudential Fixed Maturity Plan Series 42- Six Months Plan C from 14 April to 16 April 2008. The issue was opened for subscription on 2 April 2008.
ICICI Prudential Fixed Maturity Plan Series 42- Six Months Plan C is close-ended debt fund. The NFO price for the fund is Rs 10 per unit. The minimum investment amount is Rs. 5,000 and in multiple of Re 1 thereafter.
ICICI Prudential Fixed Maturity Plan Series 42 Six Months Plan C seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the plans under the scheme. The scheme will have an investment in money market instruments short-term medium term debt securities and debt instruments.
Presently there is one option available for investment under the scheme viz. retail option. Cumulative and dividend payout sub options are available under retail option. Dividend payout is the only facility available under dividend sub-option.
There will no entry load charged for the scheme due to its close-ended structure. There will be an exit load of 1.00% of the applicable NAV for the redemption made during the repurchase facility period.