Latest Buzz

Franklin Templeton Mutual Fund announces dividend in Franklin India Flexi Cap Fund

Franklin Templeton Mutual Fund announces its second tax - free dividend in Franklin India Flexi Cap Fund of Rs.2.50 per unit on a face value of Rs.10 per unit. The record date for the same is 9th May, 2007. The investment objective of the scheme is to provide medium to long-term capital appreciation by investing in stocks across the entire market capitalization range.

DBS Chola Hedged Equity Fund debuts at Rs. 10.47

DBS Chola Hedged Equity Fund has debuted at Rs 10.47 per unit as against face value of Rs 10 per unit. The scheme launched in the month of Mar 07. The objective of the scheme is to generate long term capital appreciation through investment in equity and equity related instruments.

Fidelity Mutual Fund announces dividend in Fidelity equity Fund

Fidelity Mutual Fund announces dividend in Fidelity equity Fund of Rs.2.50 on a face value of Rs.10 per unit. The record date for the same is 30th April, 2007. The investment objective of the scheme is to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities.


AIG Global Investment Group launches first fund in India

AIG Global Investment Group (AIGGIG) announced the launch of its maiden scheme AIG India Equity Fund. The New Fund Offer priced at Rs.10 per unit (plus applicable entry load) will be open for purchase from May 3, 2007 to May 31, 2007. The fund will re-open for ongoing purchases/redemptions no later than June 29, 2007. AIG India Equity Fund is an open-ended diversified equity fund with no biases. The fund has the flexibility to invest across companies without having any bias towards a particular sector, investing style or market capitalization range. The fund will be managed by Mr. Tushar Pradhan, Chief Investment Officer - Equities.

Franklin Templeton launched second Capital Protection Fund

Franklin Templeton Investments (India) has launched a capital protection oriented scheme called Franklin Templeton Capital Protection Oriented Fund. This is the second capital protection fund from Franklin Templeton. The New Fund Offer will start from 24 April, 2007 to 17 May, 2007 and the units will be available at Rs. 10 per unit during this period.

JPMorgan AMC launches first domestic fund

JPMorgan Asset Management India Pvt. Ltd. (JPMAMIPL) has launched its maiden domestic fund, JPMorgan India Equity Fund. The fund is open ended, equity growth scheme, which aims to generate income and long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives. The new fund offer is open from 19th April to 18th May 2007, units in the Fund will be priced at Rs.10 during the new fund offer.

Minimum SIP program from ICICI Pru AMC

The competition in the mutual fund industry is getting hotter with ICICI Prudential Asset Management Company offering Rs 50 per month as the minimum investment amount in its Systematic Investment Plan (SIP). That will make it the lowest in the industry with Reliance Mutual Fund last week reducing the minimum investment in SIP to Rs 100 per month. Both fund houses claim the measure will help an increased number of investors to benefit from investing in mutual funds. ICICI Prudential AMC and Reliance AMC have been pushing each other in the race for maximum assets under management. While ICICI Prudential AMC had maximum assets in February, Reliance AMC was on top in March.

Reliance Mutual Fund regains the No.1 Position (On Apr 4 , 2007)


Reliance Mutual funds Assets under management as of 31 March, 2007 was at Rs 46,307 crore, while Prudential ICICI was on second position with a holding of Rs 37,870 crore under its belt. The fresh Issues of FMP, by Reliance AMC has been an added factor for taking the fund house to the number one position, as they have collected around Rs 4,000 crore, from fresh FMP issue.

Pru ICICI Mutual Fund Re-name to ICICI Prudential Mutual Fund (On Apr 4 , 2007)


Prudential ICICI Mutual Fund has been renamed to ICICI Prudential Mutual Fund with effect from April 2, 2007. The move reflects the change in shareholding pattern of ICICI Bank and Prudential Plc. A similar change has also been made to the names of the fund houses schemes. In March 1998 UK based Prudential Plc had acquired a 55% stake in the erstwhile ICICI Asset Management Company Ltd subsequent, it was re-named as Prudential ICICI Asset Management Company Limited. The ICICI Group continued to hold the remaining 45%. However, with effect from August 2005, 6% of Prudential Plc holding in the AMC was transferred to ICICI Bank Ltd. Consequently, the latter became the dominant partner with a 51% stake and this change is now being reflected in the AMC name.

UTI Mutual Fund announces bonus in three of its funds (On Mar 26 , 2007)

UTI Mutual Fund has announced a bonus in the ratio of 1 unit for every 10 units, in three of its Speciality Funds UTI Retirement Benefit Pension Fund, UTI Unit Linked Insurance Plan and UTI Childrens Career Balanced fund. The record date for the bonus is March 30, 2007. The NAV per unit of UTI Retirement Benefit Pension Fund, UTI Unit Linked Insurance Plan and UTI-Childrens Career Balanced Plan as on March 26, 2007 was Rs.19.3276, Rs.15.4360 and Rs.14.5136 respectively.