Financial Daily from THE HINDU group of publications
Tuesday, Jul 13, 2004

Cross Currency

Group Sites

Markets - Mutual Funds

BoB Mutual plans to convert ELSS into Diversified Fund

Our Bureau

Mumbai , July 12

BANK of Baroda Mutual Fund plans to convert BOB ELSS'95, a close-ended scheme due for redemption on April 1, 2005, into BOB Diversified Fund.

The offer document for BOB Diversified Fund has been filed with the Securities and Exchange Board of India. The new fund will invest 80-100 per cent in equity and can invest up to 20 per cent in debt and money market instruments, according to the offer document.

"The investment objective of the fund is to generate long-term capital appreciation through a well researched portfolio comprising of equity, equity-related instruments and money market instruments," states the offer document.

Investors can choose between growth and dividend options under the scheme. The minimum application amount is Rs 3,000. The initial offer price of the scheme is Rs 10 per unit.

Unit holders will have to pay an entry load of two per cent for ongoing purchases of the units. The fund carries no exit load, according to the document.

BOB AMC manages Rs 429 crore of assets as per Association of Mutual Funds in India's data for May 2004.

More Stories on : Mutual Funds

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
NRIs urge SMILE to provide trading platform

Karvy to be HLL's registrar, transfer agent
UTI-I to foreclose two monthly income plans
Canbank MF wins race to acquire GIC MF
BoB Mutual plans to convert ELSS into Diversified Fund
Birla MF files offer document for new bond fund
Instanex Skindia replaces L&T GDR
Chidambaram open for transaction tax review
Transaction tax impasse shrinks trading volumes
Lacklustre movement
Hoping on good show
Textile stocks on upswing
HPCL: Outlook negative, sell July futures
FIIs need RBI nod to buy ICICI Bank shares
Heavyweights turn weak on directionless day

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line