ICICI Prudential MF launches new scheme
ICICI Prudential Mutual Fund has launched ICICI Prudential Equity Savings Fund Series - 1, a close ended RGESS qualifying equity scheme. The scheme will have tenure of 3 years (1095 Days) from the date of allotment. The primary investment objective of the scheme is to seek to generate capital appreciation, from a portfolio that is constituted of equity securities which are specified as eligible securities for Rajiv Gandhi Equity Saving Scheme (RGESS). The NFO period is from January 20 to February 7, 2014. The performance of the scheme will be benchmarked against CNX 100 and will be managed by Manish Gunwani and Venkatesh Sanjeevi.
Change in key personnel
Motilal Oswal Mutual Fund has changed the fund manager of Motilal Oswal MOSt Shares M50 ETF, Motilal Oswal MOSt Shares Midcap 100 ETF and Motilal Oswal MOSt Shares NASDAQ-100 ETF from January 20, 2014. The new fund manager is Anubhav Srivastava.
IDBI Mutual Fund has designated some personnel as Assistant Fund Managers for a few of its schemes. They are: Annavarapu Venkat for IDBI Nifty Index Fund and IDBI Nifty Junior Index Fund (from January 15); Anshul Mishra for IDBI Rajiv Gandhi Equity Savings Scheme - Series I Plan A (from January 14) and Sambit Agasti for IDBI Gold Exchange Traded Fund and IDBI Gold Fund (from January 15). It has further informed that Venkat and Agasti will continue to be dealers, in addition to this responsibility. V Balasubramanian will continue to be the Fund Manager for the aforementioned schemes in addition to being designated as Head-Equity from January 14, 2014. And Anil Dhawan, Fund Manager, Fixed Income has been assigned additional responsibility as Head-Debt Research from January 14, 2014.
ING Mutual Fund has informed that Rahul Totla has been appointed as Manager and Dealer-Fixed Income and Equity and designated as key personnel of AMC from January 6, 2014. Further, Ashish Jain - Manager and Dealer - Fixed Income and Equity, has resigned and ceases to be key personnel of the AMC from the close of business hours of January 24, 2014.
Change in face value and exit load
Tata Mutual Fund will change the face value and minimum redemption amount of Tata Money Market Fund and Tata Floating Rate Long Term Fund. The face value of these schemes will be raised to Rs 1,000 from Rs 10 presently from February 1, 2014. Further, the minimum redemption amount will be raised to Rs 500. Presently, it is Rs 500 or 50 units whichever is lower.
Religare Invesco Mutual Fund will begin charging an exit load of 0.50% under Religare Invesco Medium Term Bond Fund from January 27, 2014 if units are redeemed within 45 days of allotment. Earlier, it used to charge the same load for redemption within 3 months.
Dividends declared
Reliance Mutual Fund declared dividend under the dividend option of Reliance Long Term Equity Fund and Reliance Top 200 Fund - Retail. The quantum of dividend is Rs 1 per unit for both schemes with the record date set as January 24, 2014.
ICICI Prudential Mutual Fund declared dividend under ICICI Prudential Focused Bluechip Equity Fund. The quantum of dividend is Rs 1.45 per unit with the record date set as January 24, 2014.
Franklin Templeton Mutual Fund declared dividend under the dividend option of regular and direct plans of Franklin India Taxshield. The quantum of dividend is Rs 3 per unit with the record date set as January 24, 2014.
Kotak Mahindra Mutual Fund declared dividend under the dividend option of regular and direct plans of Kotak Classic Equity. The quantum of dividend is Rs 4.3 per unit with the record date set as January 23, 2014.
Tata Mutual Fund declared dividend under the dividend option of Tata Pure Equity Plan A. The quantum of dividend is Rs 2 per unit with the record date set as January 27, 2014.
PineBridge Mutual Fund declared dividend under the dividend option of PineBridge India Equity Fund - Standard Plan. The quantum of dividend is Rs 0.80 per unit with the record date set as January 24, 2014.
Mirae Asset Mutual Fund declared dividend under the dividend option of Mirae Asset India Opportunities Regular. The quantum of dividend is Rs 1.2 per unit with the record date set as January 27, 2014.
Union KBC Mutual Fund declared dividend under the dividend option of Union KBC Tax Saver. The quantum of dividend is Rs 0.9 per unit with the record date set as January 27, 2014.