The Hindu Business Line : Update

Birla Sun Life Mutual has extended the closing date for the New Fund Offer of Birla Long Term Advantage by seven days till the close of business hours on Friday, September 15.

Mr Amit Nigam was designated fund manager of ABN AMRO Tax Advantage Plan (ELSS) with effect from September 1.

Franklin Templeton Mutual Fund has decided to distribute a dividend of Rs.3 per unit (on face value of Rs.10) in Franklin India Opportunities Fund. Record date for the same will be September 13.

UTI Mutual Fund has announced the launch of UTI Wealth Builder Fund. The new fund offer, which opened on September 7, closes on October 11. It is a close-ended diversified equity scheme with a maturity period of five years.

Principal International has appointed Mr Rajan Ghotgalkar as its country head and Managing Director of Principal PNB Asset Management Company. He will have the overall responsibility for all business of Principal in India.

ING Vysya Mutual Fund has crossed the Rs 5,000-crore mark in terms of assets under management (AUM). This has been achieved across an investor base of 1,50,000.

According to the data provided by the Association of Mutual Funds in India, UTI Mutual Fund expanded its AUM to Rs 35,027 crore. ICICI Prudential Mutual, which had the highest AUM of Rs 31,431 crore as on July 31, 2006, slipped to second position with Rs 34,118 crore at the end of August 2006.

Reliance Mutual Fund maintained its third position with an AUM of Rs 28, 753 crore. HDFC Mutual Fund held Rs 25,891 crore as AUM for the same period.

Franklin Templeton Investments (India) has signed an agreement with State Bank of Patiala for the distribution of its products. Mr Vivek Kudva, President-Franklin Templeton India, and Mr Ashok Mukund, Chief General Manager of SBP, signed the MOU last week.

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