New scheme launches
Reliance Mutual Fund launched Reliance Capital Builder Fund - Series B, a close ended equity oriented scheme with the duration of 3 years from the date of allotment. The NFO period is from August 12 to August 26, 2014. Its performance will be benchmarked against S&P BSE 200 Index and will be managed by Sailesh Raj Bhan and Jahnvee Shah (overseas investments).
Sundaram Mutual Fund launched Sundaram Select Micro Cap – Series V, a 42 month closed-end equity scheme. The NFO period is from August 11 till August 25, 2014. Its performance will be benchmarked against S&P BSE Small Cap Index and will be managed by S Krishnakumar (Equity) and Dwijendra Srivastava (Fixed - Income).
Deutsche Mutual Fund launched DWS Arbitrage Fund which intends to generate income by investing in arbitrage opportunities that potentially exist between the cash and derivatives market as well as within the derivatives segment of the market. The NFO period is from August 13 till August 22, 2014. Its performance will be benchmarked against CRISIL Liquid Fund Index and will be managed by Akash Singhania (equity) and Kumaresh Ramakrishnan (debt).
Change in fundamental attributes, offering and managers
JM Financial Mutual Fund informed that Girish Hisaria, Debt Fund Manager, has resigned and ceases to be the key personnel of JM Financial AMC. Hence, Vikas Agarwal will be the sole fund manager for the schemes managed / jointly managed by Girish Hisaria viz. JM Short Term Fund, JM Income Fund, JM G-Sec Fund, JM Fixed Maturity Fund – Series XXIV – Plan C and JM Fixed Maturity Fund – XXV – Plan A. Further, plans to be launched under JM Fixed Maturity Fund – Series XXV, if any, will also be managed by Vikas.
Taurus Mutual Fund approved the merger of Taurus Gilt Fund with Taurus Dynamic Income Fund from September 18, 2014. Due to this fundamental change, existing investors can exit without paying any exit load between August 19 and September 17, 2014.
ICICI Prudential Mutual Fund introduced trigger facility under ICICI Prudential Target Returns Fund from August 12, 2014. Under this facility, the investor can switch their investments into a pre-selected debt scheme on reaching a particular trigger level. The default trigger is set at 50% of the appreciation in NAV instead of 20%.
ICICI Prudential Mutual Fund introduced half yearly dividend frequency under the dividend option of the regular and direct plan of ICICI Prudential Blended Plan – Plan B, ICICI Prudential Banking & PSU Debt Fund and ICICI Prudential Ultra Short Term Plan from August 14, 2014. Dividend payout and dividend reinvestment facility shall be available under half yearly dividend option. For investors subscribing to the units of this option through various platforms offered by the Exchanges, the effective date would be September 15, 2014.
Changes in exit load
ICICI Prudential Mutual Fund has begun charging an exit load of 1% under ICICI Prudential Target Returns Fund from August 12, 2014, if units are redeemed or switched out within 18 months from the date allotment.
ICICI Prudential Mutual Fund has stopped charging exit load under ICICI Prudential Gilt Fund – Investment Plan – PF Option from August 14, 2014.
Religare Invesco Mutual Fund has begun charging an exit load of 1% under Religare Invesco Active Income Fund from August 12, 2014, if units are redeemed / switched-out on or before 90 days from the date of allotment. Earlier, there was no exit load.
Tata Mutual Fund has changed exit load under Tata Gilt Mid Term Fund from August 14, 2014. If units are redeemed on or before 365 days, the exit load will be 2%; if redeemed after 365 days and on or before 730 days, the exit load will be 1% and if redeemed after 730 days and on or before 1095 days, the exit load will be 0.50%.
Dividends declared
ICICI Prudential Mutual Fund declared dividend under the regular and direct plan of ICICI Prudential Infrastructure Fund. The quantum of dividend is Rs 1.00 per unit and Rs 0.40 per unit respectively with the record date set as August 14, 2014.
Birla Sun Life Mutual Fund declared dividend under Birla Sun Life Asset Allocation Fund - Aggressive Plan. The quantum of dividend is Rs 4.00 per unit with the record date set as August 14, 2014.
Sundaram Mutual Fund declared dividend under regular and direct plans of Sundaram Select Micro Cap Series – I, II, III & IV. The quantum of dividend is Rs 1.00 per unit under each plan / option with the record date set as August 14, 2014.
