Changes in scheme structure and offering
Franklin Templeton Mutual Fund will change the asset allocation pattern of Templeton India Treasury Management Account from June 12, 2013. From that date, the scheme will allocate 50-100% in money market instruments and rest in debentures (investment grade, privately placed etc.). Currently, it invests 70-100% in money market instruments and rest in debentures (investment grade, privately placed etc.). Due to this fundamental change, investors who are not in agreement can exit the scheme without paying any exit load between May 13 and June 11, 2013.
UTI Mutual Fund has informed that UTI Gold ETF may begin to invest in Banks’ Gold Deposit Schemes. Due to this change, the scheme may invest 90-100% in gold bullion and gold related instruments (as permitted by SEBI from time to time) and rest in money market instruments. Presently, it invests 90-100% in only gold bullion and the rest in money market instruments. The fund house has also said that the total Investment in GDS will not exceed 20%, or as prescribed by SEBI, of total AUM of UTI Gold ETF.
SBI Mutual Fund has introduced the Gold Accumulation Facility under SBI Gold Fund from May 10, 2013.
HSBC Mutual Fund has informed that JP Morgan Chase Bank will cease to act as Custodian and Fund Accountant for HSBC Brazil Fund and HSBC Emerging Market Fund with effect from May 11, 2013. Standard Chartered Bank will be appointed as the new Custodian and Fund Accountant for these funds from that date.
Changes in exit load
ICICI Prudential Mutual Fund has changed exit loads under four schemes from May 7, 2013. As per the revised structure, under ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Fund and ICICI Prudential Balanced Fund, an exit load of 1% will be applicable if redeemed or switched out within 12 months from the date of allotment and Nil thereafter. Further, under ICICI Prudential Ultra Short Term Plan, no exit load will be applicable.
Axis Mutual Fund has begun charging an exit load of 0.50% under Axis Short Term Fund from May 10, 2013 if units are redeemed/switched out within 89 days from the date of allotment.
BOI AXA Mutual Fund has informed that no exit load will be applicable in case of intra-scheme switching.
Dividends declared
UTI Mutual Fund declared dividend of Rs 1 per unit under the dividend option of UTI Opportunities Fund with the record date set as May 14, 2013.
DSP BlackRock Mutual Fund declared a dividend of Re 1 per unit under the regular plan of DSP BlackRock India T.I.G.E.R. Fund with the record date set as May 10, 2013.