UTI MF appoints new MD
UTI Asset Management appointed Leo Puri as its managing director, concluding a process that has taken more than 2 years because of stakeholder disagreements. However, there is still no word on whether he will also be appointed as Chairman.
Daiwa MF appoints CEO
Daiwa Mutual Fund has informed that Takashi Yamaguchi has been appointed as the Chief Executive Officer of Daiwa Asset Management Company pursuant to the resignation of N Sethuram Iyer as Director & CEO from July 1, 2013. Earlier, Mr. Yamaguchi was the Joint CEO of Daiwa AMC from June 2011 to June 2013.
BOI AXA MF changes fund managers
BOI AXA Mutual Fund has informed that subsequent to the resignation of Gaurav Kapur, Saurabh Kataria has been designated as the fund manager for the following equity schemes from June 28, 2013: BOI AXA Equity Fund, BOI AXA Tax Advantage Fund and BOI AXA Focused Infrastructure Fund.
Changes in exit load
Axis Mutual Fund has begun charging an exit load of 1% under Axis Income Saver Fund from July 2, 2013 if units are redeemed or switched out within 2 years from the date of allotment.
JP Morgan Mutual Fund has announced a change in exit load of JP Morgan India Short Term Income Fund and JP Morgan India Active Bond Fund. From July 2, 2013, JP Morgan India Short Term Income Fund has begun charging an exit load of 0.75% for redemptions within 3 months from the date of allotment. Under JP Morgan India Active Bond Fund, an exit load of 1% is being levied on redemptions made within 12 months from the date of allotment.
