Changes in offering
Franklin Templeton Mutual Fund will change the asset allocation of FT India Dynamic PE Ratio Fund of Funds from April 23, 2014 to allow greater flexibility in managing volatility of interest rates. Currently, the fund’s equity component is invested in units of Franklin India Bluechip Fund and the debt component in Templeton India Income Fund. But from the said data, this would be changed to the following: (Equity) The fund will primarily allocate its equity component in Franklin India Bluechip Fund. In case the allocation reaches 20% of the corpus of Franklin India Bluechip, then further equity investments will be made in Franklin India Prima Plus. In case the allocation of FT India Dynamic PE Ratio Fund of Funds reaches 20% of the corpus of both Bluechip and Prima Plus, then fresh subscription/switches into this fund would be suspended.
(Debt) The fund will primarily allocate its debt component in Templeton India Short Term Income Plan. In case the allocation reaches 20% of the corpus of Short Term Income Plan, then the fund will allocate its debt component in Templeton India Income Opportunities Fund. In case the allocation of FT India Dynamic PE Ratio Fund of Funds reaches 20% of the corpus of both these funds, then fresh subscription/switches into this fund would be suspended.
Fresh subscription/switches into FT India Dynamic PE Ratio Fund of Funds would be reopened subsequent to exposure falling less than 20% of the corpus of anyone of the underlying debt schemes and anyone of the underlying equity scheme. Meanwhile, the various PE ratio bands and the respective equity and debt allocation proposed under normal circumstances remain same as earlier.
Due to this fundamental change, existing investors in the scheme can redeem their investment without paying any exit load from March 24 to April 22, 2014.
HSBC Mutual Fund will merge HSBC Small Cap Fund into HSBC Midcap Equity Fund from April 26, 2014. Also, the asset allocation of HSBC Midcap Equity Fund will be changed to equity and equity related securities of companies whose market capitalization does not exceed the capitalization of the largest constituent and is not less than the market capitalization of the smallest constituent of BSE Mid cap index. Due to this fundamental change, existing investors who do not approve of the above merger, have an option to exit the scheme anytime between March 25 to April 25, 2014 without paying any exit load.
Union KBC Mutual Fund changed the minimum application and installment amount under SIP facility under Union KBC Equity Fund, Union KBC Dynamic Bond Fund, Union KBC Asset Allocation Fund - Moderate Plan and Union KBC Asset Allocation Fund - Conservative Plan. The revised amount is Rs 2,000 per month and Rs 5,000 per quarter and will be effective from April 1, 2014.
Change in key personnel
IIFL Mutual Fund has informed that Gautam Adukia has been designated as Key Personnel of India Infoline Asset Management Company pursuant to his appointment as the Fund Manager - Fixed Income, with effect from March 6, 2014. He will be managing IIFL Dynamic Bond Fund, IIFL Short Term Income Fund, IIFL Liquid Fund, IIFL FMP Series 6. He has been appointed in place of Rahul Aggarwal who has resigned from services of IIFL AMC. Further, Vivek Miranda, Vice President-Sales and Distribution has ceased to be the Key Personnel of IIFL AMC, pursuant to his resignation with effect from March 14, 2014.
Change in exit load and dividends declared
Tata Mutual Fund has stopped charging any exit load under Tata Floating Rate Fund- Long Term Plan from March 18, 2014 from 0.25% on redemptions on or before 30 days earlier.
HDFC Mutual Fund declared dividend of Re 1 per unit under HDFC Focused Large-Cap Fund and Rs 4 per unit under HDFC Equity Fund with the record date set as March 20, 2014.
Reliance Mutual Fund has declared dividend of Rs 2 per unit under the regular and direct plans of Reliance Diversified Power Sector Fund with the record date set as March 21, 2014.
SBI Mutual Fund has declared dividend of Re 1 per unit under SBI Magnum Balanced Fund and Rs 1.8 per unit under SBI Blue Chip Fund with the record date set as March 21, 2014.
Birla Sun Life Mutual Fund has declared dividend under the dividend options of regular and direct plans of the following schemes: Birla Sun Life 95 Fund – regular and direct (Rs 3 and Rs 6 respectively); Birla Sun Life Equity Fund (Rs 4 under both plans) and Birla Sun Life Tax Plan – direct (Rs 4.25). The record date is set as March 21, 2014.
DSP BlackRock Mutual Fund has declared dividend under the dividend option of the following schemes: DSP BlackRock Opportunities Fund (Rs 3.50 per unit); DSP BlackRock US Flexible Equity Fund (Re 1 per unit) and DSP BlackRock World Energy Fund and DSP BlackRock World Agriculture Fund (Rs 0.75 per unit each). The record date is set as March 21, 2014.
L&T Mutual Fund has declared a dividend of Rs 1.2 per unit under the dividend options of regular and direct plans of the following schemes: L&T Tax Advantage Fund and L&T India Special Situations Fund. The record date is set as March 21, 2014.
Tata Mutual Fund has declared a dividend of Rs 3.25 per unit each under Tata Balanced Fund and Tata Balanced Fund Plan A and Rs 3 per unit under Tata Ethical Fund Plan A with the record date set as March 21, 2014.
Kotak Mahindra Mutual Fund declared dividend under the dividend option of Kotak Balance and Kotak Balance - Direct. The quantum of dividend is Rs 4.85 per unit with the record date set as March 25, 2014.
Sundaram Mutual Fund declared dividend under the dividend options of regular and direct plans of Sundaram Select Mid Cap Fund. The quantum of dividend is Re 1 per unit with the record date set as March 21, 2014.
IDFC Mutual Fund declared dividend under the dividend option of IDFC Premier Equity Reg, IDFC Premier Equity Plan B and IDFC Premier Equity Direct. The quantum of dividend is Rs 2.5 per unit with the date set as March 25, 2014.
BOI AXA Mutual Fund declared dividend under BOI AXA Regular Return Fund - Eco Plan. The quantum of dividend is Rs 1 per unit with the record date set as March 25, 2014.
Deutsche Mutual Fund declared bonus under the bonus option of DWS Ultra Short Term Inst - Direct. Investors will receive 0.50 units for every unit held, subject to availability of distributable surplus with the record date set as March 25, 2014.
IDBI Mutual Fund has declared bonus under the bonus option of IDBI Liquid Fund – regular and direct plan. It will issue 1 bonus unit for every 3 units held, subject to availability of distributable surplus. The record date has been set as March 25, 2014.
