Axis MF appoints Chandresh Nigam as MD & CEO
Axis Mutual Fund appointed Chandresh Nigam as its Managing Director and Chief Executive Officer with effect from April 29, 2013. He will also continue in his earlier role as the Head of Investments of the fund house.
Changes in scheme structure, offering and benchmarks
HDFC Mutual Fund will modify the investment strategy and name of plans under HDFC High Interest Fund from June 4, 2013. HDFC High Interest Fund will be known as HDFC High Interest Fund - Dynamic Plan and HDFC High Interest Fund - Direct Plan will be known as HDFC High Interest Fund - Dynamic Plan - Direct Plan. The revised investment strategy for the scheme will involve investing in debt, money market and related instruments of various maturities on the basis of the expected interest rate scenarios over the short as well as medium term. The Plan will follow an active duration management strategy by keeping a close watch on various domestic and global macro economic variables. Due to this fundamental change, existing investors can exit the scheme without paying any exit load between May 3 and June 3, 2013.
DSP BlackRock Mutual Fund has changed the benchmark index under DSP BlackRock Focus 25 Fund to S&P BSE 200 from S&P BSE Sensex from May 2, 2013.
Taurus Mutual Fund has changed the benchmark index of Taurus Ethical Fund from CNX 500 Shariah Index to S&P BSE 500 from May 2, 2013.
BOI AXA Mutual Fund introduced SIP Facility under BOI AXA Treasury Advantage Fund from May 2, 2013.
L&T Mutual Fund has informed that L&T Cash Fund has been available on the MF trading platforms of NSE and BSE for transactions from May 2, 2013.
PineBridge India Mutual Fund has discontinued the annual dividend option under PineBridge India Total Return Bond Fund from May 1, 2013.
Change in exit load and dividends declared
L&T Mutual Fund has begun charging an exit load of 0.50% under L&T Floating Rate Fund from May 3, 2013 if units are redeemed within 6 months from the date of allotment.
Kotak Mutual Fund declared Rs 0.50 per unit dividend under the dividend option of Kotak Emerging Equity Fund with the record date fixed on May 2, 2013.
Religare Mutual Fund declared Rs 2.50 per unit dividend under the regular and direct plans of Religare Banking Fund with the record date set as May 3, 2013.
Tata Mutual Fund declared Re 0.35 per unit dividend under the monthly dividend option of regular and direct plans of Tata Balanced Fund with the record date set as May 3, 2013.