The Hindu Business Line : HDFC MF to launch fund of funds scheme

A dividend of 8 per cent, or Rs 0.8 per unit, has been declared under the dividend option of Tata Equity Opportunities Fund. The record date for dividend payout is November 9.

Tata Mutual Fund plans to launch Tata Banking Services Fund. A draft offer document has been filed with SEBI.

Canbank Mutual Fund has declared a dividend of 20 per cent or Rs 2 per unit under Canequity diversified fund. It has also declared a dividend of 3 per cent on under the income plan of Cancigo fund. The record date for dividend payouts are November 26 and November 19 respectively.

According to Crisil's Risk-adjusted Return Rankings, equity funds generated an annualised return of 7.7 per cent in October 2004. Franklin Prima and Reliance Growth were the two top-performing funds. The top two income funds were Prudential ICICI Income Fund and Reliance Income Fund.

HDFC Mutual Fund is to launch a Fund of Funds (FOF) scheme. There would be four plans — Income Plus, X-tra Income Plus, Balanced Plan and Aggressive Plan. The FOF will invest in funds of HDFC Mutual Fund as well as other funds.

UTI Mutual Fund, along with State Street Global Advisors, plans to launch UTI-SSgA Global Navigator Fund. The fund will invest in stocks that form part of the Dow Jones Sustainability Index World.

Sahara Mutual Fund is to launch a mid-cap fund and a floating rate income fund. The fund house plans to launch more funds and extend its product portfolio. It has recently filed a draft offer document with SEBI for the launch of Sahara Liquid Institutional Fund.

ING Vysya Mutual Fund is to launch a mid-cap fund and a dynamic bond fund. The dynamic bond fund will invest in debt instruments across varying maturities. The draft offer documents have been filed with SEBI.

BL Research Bureau

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