Fund manager changes
Canara Robeco Mutual Fund announced the resignation of Ritesh Jain, Head - Investment. Hence, he ceases to be the Fund Manager of the following schemes - Canara Robeco InDiGo Fund, Canara Robeco Gilt PGS and Canara Robeco Income from May 24, 2013. Consequently, these schemes will now be managed by Akhil Mittal.
IDFC MF has appointed Harshal Joshi as the fund manager for FMPs having tenure 1 year and below which will be launched henceforth. This change is effective from May 20, 2013.
HSBC MF has appointed Neelotpal Sahai as the new fund manager for equities from May 27, 2013. He will be managing the equity portion along with Tushar Pradhan in HSBC Equity Fund, HSBC India Opportunities Fund and HSBC Dynamic Fund.
Addition of benchmark
Franklin Templeton has included an additional benchmark for Franklin India Prima Fund - CNX Midcap Index – along with the existing CNX 500.
Changes in exit load
L&T Mutual Fund has begun charging an exit load of 1.5% under L&T Triple Ace Bond Fund from May 23, 2013 in units are redeemed within 3 months from the date of allotment. Post that period, no exit load will be charged. No exit load will be chargeable in case of switched between different options of the scheme or in case of units allotted on account of dividend reinvestments, and units issued by bonus.
Principal Mutual Fund has revised exit loads under two offerings from May 24, 2013. Under Principal Income Fund - Short Term Plan, an exit load of 0.50% will be applicable if units are redeemed on or before 30 days from allotment. While under Principal Smart Equity Fund, an exit load of 1% will be applicable if units are redeemed within 1 year from allotment.
Dividends declared
UTI Mutual Fund has declared a tax-free dividend of Re 1 per unit under UTI-Opportunities Fund dividend option-existing plan with the record date set as May 14, 2013.
Franklin Templeton Mutual Fund declared a dividend of Rs 2 per unit under the dividend options of regular and direct plans of FT India Balanced Fund with the record date set as May 24, 2013.
IDFC Mutual Fund has declared a dividend of Rs 1.5 per unit under the regular plan of IDFC India GDP Growth Fund with the record date set as May 29, 2013.
Tata Mutual Fund has declared a dividend of Re 0.50 per unit under the Dividend Trigger Option A-5% of Tata Equity P/E Fund - Regular and Direct Plan with the record date set as May 28, 2013.