Fund Manager changes
Franklin Templeton Mutual Fund appointed Santosh Kamath and Kunal Agrawal as the fund managers of Templeton India Low Duration Fund and Templeton India Short-Term Income Fund from April 15, 2014. From that date, Sumit Gupta and Santosh Kamath have been appointed fund managers of Templeton India Income Opportunities Fund, Templeton India Corporate Bond Opportunities Fund and Templeton India Income Builder Account.
Change in scheme structure and offering
Canara Robeco Mutual Fund will change some fundamental attributes of Canara Robeco Short Term Fund from May 19, 2014. The fund will allocate 65-100% of its assets in money market instruments with average maturity of less than 2 years and the remaining 0-35% in debt securities with less than 5 years of maturity. Currently it can invest 60-100% in money market instruments and the remaining in debt securities. The MF will offer Canara Robeco Floating Rate for investing short term surpluses, Canara Robeco Medium Term Opportunities for medium term surpluses and Canara Robeco Income Fund for long term investments. From the said date, the fund’s performance will be benchmarked against CRISIL Short Term Bond Fund Index. Presently it is benchmarked against CRISIL Liquid Fund Index.
Edelweiss Mutual Fund will change the fundamental attributes of Edelweiss Monthly Income Plan from May 16, 2014. The fund’s name will be changed to Edelweiss Debt and Corporate Opportunities Fund and the type of scheme will be changed to open-ended hybrid scheme from an open-ended income scheme. It new structure will allow it to allocate 50-100% of its assets in debt and money market instruments with average maturity of up to 3 years, and the remaining in equity and equity related instruments. Presently, the scheme has been investing 70-100% assets in debt and money market instruments. The new benchmark will constitute 85% CRISIL Short Term Bond Fund and 15% CNX 500 Index. Presently it is, CRISIL MIP Blended Fund Index. Proposed options or plans under the scheme will be growth option, dividend option and bonus option. Presently it has growth option, monthly dividend option and bonus option.
ICICI Prudential MF revised the minimum application amount under ICICI Prudential Corporate Bond Fund to Rs 5,000 from April 21, 2014.
Change in exit load and dividends declared
Birla Sun Life Mutual Fund has begun charging exit loads of 1.5% under Birla Sun Life Midcap Fund and Birla Sun Life Equity Fund from April 15, 2014, if units are redeemed within 365 days and 1% for redemption between 365 days to 540 days.
UTI Mutual Fund declared dividend under the dividend option of UTI Opportunities Fund. The quantum of dividend is Rs 1.25 per unit with the record date set as April 22, 2014.
Birla Sun Life Mutual Fund declared dividend under the dividend option of Birla Sun Life Frontline Equity Fund and Birla Sun Life MNC Fund. The quantum of dividend is Rs 1.2 per unit and Rs 4.75 per unit respectively with the record date set as April 17, 2014.
Axis Mutual Fund declared dividend under the dividend option of Axis Triple Advantage Fund. The quantum of dividend is Rs 0.6 per unit with the record date set as April 17, 2014.
Franklin Templeton Mutual Fund declared dividend under the dividend option of FT India Dynamic PE Ratio FoF. The quantum of dividend is Rs 0.584 per unit with the record date set as April 17, 2014.
IDBI Mutual Fund declared dividend under IDBI Dynamic Bond Fund. The quantum of dividend is dividend at Rs 0.50 per unit with the record date set as April 17, 2014.
