Financial Daily from THE HINDU group of publications
Sunday, Nov 23, 2003
Financial Daily from THE HINDU group of publications Sunday, Nov 23, 2003 |
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Investment World
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Mutual Funds Markets - Mutual Funds Kotak MF launches new income scheme
It is targeted at provident funds and trusts; It would offer tailor-made multiple maturity dates for investments to enable investors plan future cash flows; Investors will have the right to exercise a put option between the 23rd of every month and the last day of the month to provide liquidity; A recurring withdrawal facility will also be on offer to withdraw fixed or appreciating sums on a quarterly basis and This plan will share a common portfolio with Kotak Gilt Investment-Regular Plan and would invest in long-term government securities, which would be an actively managed portfolio. PruICICI Fund of Funds: A fund of funds that would invest in select schemes from the Prudential ICICI Mutual Fund stable has been launched. JM dividend: JM Mutual Fund has announced a dividend of 20 per cent for JM Equity Fund, 10 per cent for JM Balanced Fund and 30 per cent for JM Basic Fund. These are payable to investors in the Dividend Plan of the first two schemes. The dividend is payable to investors as of November 18. Young Citizens bonus: A bonus in the ratio of 1:4 (one unit for every four units held) has been announced for Tata Young Citizens Fund. The bonus units would be distributed to investors as of November 14. Tata Opportunities dividend: Tata Mutual Fund has announced a dividend of 14 per cent for the Tata Opportunities Fund, payable to investors as of November 18. This is the third dividend since August. Dividends of 12 per cent and 21 per cent were paid in August and October respectively. Top 200 dividend: HDFC Mutual Fund has declared a dividend of 25 per cent or Rs 2.50 per unit for the Dividend Plan of HDFC Top 200 Fund. Investors who held the units as of October 31 are entitled for the dividend. PruICICI changes: The applicable NAV for the PruICICI Floating Rate Plan would be the NAV at the close of the previous day to the business day on which proceeds are made available to the fund in the normal course of clearing by banks. The name of the Prudential ICICI Deposit Plan NRI Series has been changed to Prudential ICICI Fixed Maturity Plan NRI series 7 and 8. These two plans are to be launched on November 27 and December 10 respectively. Franklin Templeton dividends: Franklin Templeton has announced dividends and bonus for its income schemes. The proposed payouts are:
A dividend of 0.45 per cent for the Monthly Dividend Plan - Liquid Option of the FT India Gilt Fund. Investors as of November 3 are entitled for the dividend. UTI Thematic Fund: UTI Mutual Fund has filed with the Securities and Exchange Board of India for an omnibus fund that will have six options. The UTI Thematic Fund is the umbrella fund. It will have sub-funds that will focus on large-cap stocks, mid-cap stocks, auto, banking, PSU stocks and basic industries. UTI now has a UTI Growth Sectors Umbrella with five options that focus on investing in stocks in the services, petro, healthcare pharmaceuticals, information technology, and consumer products. The new fund also proposes to provide investors four automatic triggers that could be used for exit: value, appreciation, date and stop loss.
BL Research Bureau
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