Key personnel changes
UTI Mutual Fund has informed that Janki Ballabh has resigned from the position of Chairman and Director of UTI Trustee Company from the close of office hours on August 1, 2013.
BOI AXA Mutual Fund appointed David Pezarkar as Chief Investment Officer- Equity, from August 1, 2013. He will also manage BOI AXA Equity Fund and BOI AXA Focused Infrastructure Fund in place of Saurabh Kataria.
Edelweiss Mutual Fund appointed Bhavesh D Jain as the Assistant Fund manager – Equity in place of Rahul Totla and has been managing equity schemes along with Paul Parampreet as the Fund Manager from August 7, 2013. They will manage Edelweiss Absolute Return Fund, Edelweiss Diversified Growth Equity Top 100 Fund, Edelweiss ELSS Fund, Edelweiss Select Midcap Fund and Edelweiss Equity Enhancer Fund.
Changes in scheme name and offering
ICICI Prudential Mutual Fund has renamed ICICI Prudential Gilt Fund Treasury Plan to ICICI Prudential Short Term Gilt Fund and ICICI Prudential Gilt Fund Investment Plan to ICICI Prudential Long Term Gilt Fund. These changes are effective from August 7, 2103.
Reliance Mutual Fund changed the minimum application amount in Reliance Liquid Fund- Treasury Plan. From August 12, 2013, the minimum application amount has been changed from Rs 5,000 to Rs 100 and the additional application amount has been changed from Rs 1,000 to Rs 100.
Principal Mutual Fund will change the maximum application and redemption amount in Principal Retail Money Manager Fund from September 6, 2013. Both- new and existing investors, cannot invest, redeem or repurchase an amount greater than Rs 15 lakh per folio per day.
Changes in exit load and dividend declared
Birla Sun Life Mutual Fund has begun charging an exit load of 0.25% under Birla Sun Life Ultra Short Term Fund from August 6, 2013, if units are redeemed within 365 days from allotment.
L&T Mutual Fund has begun charging an exit load of 1.5% under L&T Triple Ace Bond Fund from August 12, 2013, if units are redeemed within 9 months from allotment.
Principal Mutual Fund has begun charging an exit load of 0.50% under Principal Bank CD Fund from August 5, 2013, if units are redeemed within 6 months from allotment.
Deutsche Mutual Fund has begun charging an exit load of 0.50% under DWS Cash Opportunities Fund from August 5, 2013, if units are redeemed within 3 months from allotment.
SBI Mutual Fund declared dividend under the regular plans of SBI Magnum Midcap Fund and SBI IT Fund. The quantum of dividend is Rs 5 and Rs 4.50 per unit respectively, with the record date set as August 8, 2013.
Mirae MF introduces new facilities under MUSTBF
Mirae Mutual Fund introduced Variable Transfer Plan (VTP) and Trigger Investment Plan (TRIP) facility to transfer investments from Mirae Asset Ultra Short Term Bond Fund. Under the VTP facility, investors can transfer variable amount, calculated on the basis of value of investments, at predetermined intervals to specific schemes of the fund house. The eligible target schemes for this facility are: Mirae Asset India Opportunities Fund, Mirae Asset Emerging Bluechip Fund, Mirae Asset China Advantage Fund, Mirae Asset India-China Consumption Fund and Mirae Asset Global Commodity Stocks Fund.
Under the TRIP facility, investors can set triggers for their investments in the fund, i.e. they can authorise the fund house to transfer the investment to another scheme. The target schemes for this facility are: Mirae Asset Emerging Bluechip Fund and Mirae Asset India Opportunities Fund.
