Fund manager change
LIC Nomura Mutual Fund has appointed Killol Pandya as Fund Manager for some of its schemes from April 1, 2013. He has begun managing LIC Nomura MF Interval Fund Quarterly Plan - Series 2, LIC Nomura MF Liquid Fund, LIC Nomura MF Savings Plus Fund, LIC Nomura MF Floating Rate Fund Short Term Plan, LIC Nomura MF Income Plus Fund, LIC Nomura MF Interval Fund Quarterly Plan - Series 1 and LIC Nomura MF Interval Fund Monthly Plan-Series 1.
New scheme launch
DSP BlackRock Mutual Fund will launch the NFO of DSP BlackRock Dual Advantage Fund Series 14-33M on April 8 and will offer it till April 22, 2013.
Changes in scheme structure and offering
LIC Nomura Mutual Fund will merge LIC Nomura MF Top 100 Fund, LIC Nomura MF Systematic Asset Allocation Fund, LIC Nomura MF Vision Fund and LIC Nomura MF Opportunities Fund with LIC Nomura MF Equity Fund from May 7, 2013. Due to this fundamental change, exiting investors can exit the schemes without paying any exit load from April 5 to May 6, 2013.
Deutsche Mutual Fund introduced various frequencies under the Bonus Option of some schemes (under both regular and direct plans) from April 4, 2013. Monthly frequency has been introduced under DWS Insta Cash Plus Fund, DWS Ultra Short Term Fund, DWS Treasury Fund - Cash Plan and DWS Cash Opportunities Fund. Quarterly frequency has been introduced under DWS Treasury Fund - Investment Plan, DWS Money Plus Fund and DWS Banking and PSU Debt. Half Yearly frequency has been introduced under DWS Short Maturity Fund, DWS Premier Bond Fund and DWS Gilt Fund.
Pramerica Mutual Fund will introduce the Bonus option under Regular and Direct plans under the following schemes from April 08, 2013. Pramerica Liquid Fund, Pramerica Dynamic Bond Fund, Pramerica Ultra Short Term Bond Fund, Pramerica Short Term Income Fund, Pramerica Dynamic Monthly Income Fund, Pramerica Treasury Advantage Fund, Pramerica Credit Opportunities Fund and Pramerica Short Term Floating Rate Fund.
Changes in exit load
SBI Mutual Fund had begun charging an exit load of 0.25% under SBI Short Term Debt Fund from April 4, 2013, if units are redeemed or switched out within 90 days from the date of allotment and nil thereafter.
IDFC Mutual Fund will begin charging an exit load of 0.25% under IDFC Arbitrage Fund from April 8, 2013 if units are redeemed/switched out within 3 months from the date of allotment. Further, from the same date it will begin charging an exit load of 0.50% under IDFC Arbitrage Plus Fund if units are redeemed/switched out within 6 months from the date of allotment.
Kotak Mutual Fund will begin charging an exit load of 0.50% under Kotak Equity Arbitrage Scheme from April 8, 2013 if units are redeemed/switched out within 90 days from the date of allotment.
Edelweiss Mutual Fund changed exit loads under Edelweiss Liquid Fund, Edelweiss Ultra Short Term Bond Fund and Edelweiss Short Term Income Fund from April 2, 2013. It waived exit loads under Edelweiss Liquid Fund and Edelweiss Ultra Short Term Bond Fund while under Edelweiss Short Term Income Fund, it will charge an exit load of 0.75% if units are redeemed or switched out on or before 180 days from the date of allotment and nil thereafter.