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Sunday, Dec 26, 2004

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Sundaram MF launches Floating Rate Fund

  • Franklin Templeton Mutual Fund has declared dividend of 12 per cent or Rs 1.20 per unit for its Templeton India Pension Plan. The record date is December 15, 2004.

  • SBI has transferred 37 per cent of its stake in SBI Mutual Fund to Societe Generale Asset Management. The latter would get proportional representation on SBI Mutual's board. Unitholders have been given the option to redeem their units at the net asset value, without the exit load, up to January 25, 2004. The option cannot be availed by those who are invested in any scheme under a statutory lock-in period.

  • Sundaram Mutual Fund has launched Sundaram Floating Rate Fund. The Short Term Plan would be benchmarked against the Crisil Liquid Fund Index, while the Crisil Composite Bond Fund Index would be the benchmark for Long Term Plan. The fund offers dividend and growth options. The minimum investment amount is Rs 5,000.

  • Prudential ICICI Mutual Fund has changed the benchmark index for its PruICICI Discovery Fund. The new benchmark is S&P CNX Nifty as against the S&P CNX 500.

  • HDFC Mutual Fund has revised the minimum amount per cheque for its Monthly Systematic Investment Plan and Quarterly Systematic Investment Plan for HDFC Tax Saver and HDFC Long Term Advantage Fund (formerly HDFC Tax Plan 2000) to Rs 500 and Rs 1500 respectively.

  • Kotak Mutual Fund is to wind up the Kotak Gilt Unit Scheme '98 (Serial Plans), which includes the following: Kotak Gilt Serial Plan 2005, Serial Plan 2007, Serial Plan 2011, Serial Plan 2013, Serial Plan 2019, and Dynamic Income Scheme. The schemes would stand wound-up as on December 28, 2004.

  • Principal Mutual Fund is to launch an equity fund, Principal Focussed Themes Fund, which would invest in not more than six sectors at a time. A draft offer document has been filed with SEBI.

  • Reliance Mutual Fund has filed a draft offer document with SEBI for the launch of Reliance Tax Saver Fund.

    BL Research Bureau

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