New scheme launches
ICICI Prudential Mutual Fund launched ICICI Prudential Growth Fund – Series 1, a close ended equity scheme. The tenure of the scheme is 3 years (1095 days) from the date of allotment. The NFO period is from June 2 to June 16, 2014. Its performance will be benchmarked against CNX Nifty Index and will be managed by Manish Gunwani, Venkatesh Sanjeevi and Ashwin Jain (For investments in ADR / GDR and other foreign securities).
Reliance Mutual Fund launched Reliance Corporate Bond Fund, an open ended income scheme. The NFO period is from June 6 till June 20, 2014. Its performance will be benchmarked against CRISIL Composite Bond Fund Index and will be managed by Prashant Pimple and Jahnvee Shah (overseas investments).
JPMorgan Mutual Fund launched JPMorgan India Top 100 Fund, an open ended equity growth scheme. The NFO period is from June 2 to June 16, 2014. Its performance will be benchmarked against S&P BSE 100 and will be managed by Harshad Patwardhan and Amit Gadgil.
Fund manager changes
UTI Mutual Fund has changed fund managers of some schemes from June 2, 2014. UTI Transportation & Logistics Fund is now being managed by Anoop Bhaskar and Daylnn Pinto (solely by Anoop earlier). UTI Children's Career Balanced Plan is now being managed by Amandeep Chopra (Debt) Anoop Bhaskar and Kaushik Basu (Equity) (by Amandeep and Anoop earlier). UTI Equity Tax Savings Plan is now being managed by Lalit Nambiar (replacing Swati Kulkarni). UTI Banking Sector Fund is being managed by Lalit Nambiar & Amit Premchandani (solely by Lalit earlier).
ICICI Prudential Mutual Fund has changed the fund manager of equity portion of ICICI Prudential Capital Protection Oriented Fund- Series VI- 1825 Days Plan A. The new fund manager is Vinay Sharma from June 4, 2014.
Additional options, features and benchmark change
ICICI Prudential Mutual Fund will introduce STP facility under ICICI Prudential Equity- Arbitrage Fund and ICICI Prudential Blended Plan- Plan A from June 9, 2014. There will be no exit load for STP facility for transfers from equity open-ended schemes.
ICICI Prudential Mutual Fund informed that lumpsum subscription and switch-in requests which were earlier discontinued in ICICI Prudential FMCG Fund will be accepted from June 3, 2014 till further notice.
Canara Robeco Mutual Fund will introduce the Trigger Facility based on Target Appreciation Percentage (TAP) under Canara Robeco Gilt PGS from June 17, 2014. Under this facility, the investor can select a specific percentage of target return, the value of which, if achieved in the scheme, will be automatically switched to any of the open ended schemes of Canara Robeco Mutual Fund as selected by the investor. This switch will only be up to the extent of the amount appreciated as per the target return, while the original invested amount shall remain in the scheme.
Baroda Pioneer Mutual Fund changed the benchmark of Baroda Pioneer Infrastructure Fund to CNX Infrastructure Index from CNX 100. The change is effective from June 6, 2014.
Franklin Templeton Mutual Fund has informed that the units of Franklin US Opportunities Fund and Franklin India Taxshield can be transacted through NSE and BSE from June 5, 2014.
Changes in exit load
Birla Sun Life Mutual Fund revised the exit load under Birla Sun Life Index Fund, Birla Sun Life International Equity Fund- Plan A, Birla Sun Life India Opportunities Fund and Birla Sun Life Pure Value Fund from June 2, 2014. It has begun charging 1% for redemption within 90 days; 1% for redemption within 365 days; 1% for redemption within 365 days and 2% for redemption within 365 days, 1% for redemption between 365-730 days, 1% for redemption after 730 days respectively.
Birla Sun Life Mutual Fund has begun charging an exit load 1% under Birla Sun Life Advantage Fund from June 9, 2014 if units are redeemed within 365 days. The fund earlier charged 0.50% for redemption within 7 days.
L&T Mutual Fund has begun charging an exit load of 1.0% under L&T Triple Ace Bond Fund, from June 4, 2014, if units are redeemed on or before 3 months. Earlier, it used to charge the same exit load for redemptions on or before 9 months.
SBI Mutual Fund has revised the exit load of SBI Dynamic Bond Fund from June 6, 2014. For 10% of investment, there will be no exit load and 0.50% for remaining investment, within 6 months. Earlier, for 10% of investment, there was no exit load and 1% for remaining investment, within 1 year.
Principal PNB Mutual Fund has begun charging an exit load of 0.50% under Principal Index Fund- Midcap from June 6, 2014, if units are redeemed within 365 days of allotment. Earlier it did not use to charge this load.
Dividends declared
ICICI Prudential Mutual Fund declared dividend under the dividend option of ICICI Prudential Equity Savings Fund Series-1 and ICICI Prudential Value Fund - Series 3. The quantum of dividend under both schemes is Rs 0.75 per unit with the record date set as June 11, 2014.
UTI Mutual Fund declared dividend under the dividend option of UTI Dividend Yield Fund. The quantum of dividend is Rs 0.60 per unit with the record date set as June 11, 2014.
Reliance Mutual Fund declared dividend under Reliance Annual Interval Fund - Series I. The quantum of dividend is Rs 0.8222 for Reliance Annual Interval Fund - Series I - Div and Rs 0.8230 for Reliance Annual Interval Fund - Series I - Retail Plan – Div with the record date set as June 9, 2014.
SBI Mutual Fund declared dividend under SBI Magnum Global Fund. The quantum of dividend is Rs 5.70 per unit with the record date set as June 6, 2014.
