Financial Daily from THE HINDU group of publications
Sunday, Feb 27, 2005

Investment World
Features
Stocks
Port Info
Archives

Group Sites

Investment World - Mutual Funds
Markets - Mutual Funds
Columns - Fund Watch


SEBI okays Fidelity plans

  • Fidelity Investments has received permission from SEBI to launch equity funds in India. Fidelity has already filed a draft prospectus with SEBI for its maiden equity fund, Fidelity Equity. The proposed fund will invest across sectors. The portfolio will comprise 60-80 stocks. The fund will ordinarily invest up to 95 per cent of its assets in equities, but may invest up to 20 per cent in money market instruments.

  • SBI Mutual Fund has launched a mid-cap fund, Magnum MidCap Fund. It will invest in stocks with a market capitalisation of Rs 200-2,000 crore. The minimum investment amount is Rs 5,000. The fund offers dividend and growth options. The offer closes on March 17.

  • Principal Mutual has declared dividend of 100 per cent on Principal Resurgent India Equity Fund. The record date is February 24.

  • Sundaram Mutual has declared dividends of 20 per cent each on Sundaram Select Focus and Sundaram Growth. The record dates are March 4 and March 11 respectively.

  • UTI Mutual Fund has declared a maiden dividend of 12 per cent for UTI Basic Industries Fund and a dividend of 25 per cent for UTI Growth and Value Fund. The record date for both the dividend payments is March 10. The fund house has also declared a dividend of 18 per cent for UTI Balanced Fund. The record date is March 17.

  • Franklin Templeton Mutual Fund has proposed a dividend for Franklin India Taxshield. The record date is March 18.

  • HDFC Mutual proposes to declare dividend on HDFC Prudence and HDFC Balanced Fund. The record date for the dividend will be March 18.

  • Franklin Templeton Mutual has mopped up Rs 1,950 crore from the initial offering of Franklin Flexicap. This is the largest amount mobilised by any open-end fund IPO. The fund will be open for an ongoing basis from March 7.

    Our Research Bureau

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

  • Stories in this Section
    Electronic Settlement for commodities futures


    Ondeo Nalco: Accept
    Boost for construction sector — FDI, the new building block
    Economic Survey — Music to investor's ears
    HDFC TaxSaver: Buy
    Templeton India Growth Fund: Invest in small lots
    Should I book profits?
    SEBI okays Fidelity plans
    Sesa Goa: Buy
    GlaxoSmithKline Pharma: Hold
    At sea on tax
    There's tax benefit for home loans from near and dear too
    Focus of the week
    Honda City more fuel-efficient
    MetLife's Met Smart
    Quantum games
    Nifty may be volatile
    Futures guide
    Options guide
    Unparalleled in the products space
    `Building relationships is our biggest challenge' — — Phiroz Vandrevala, Executive Vice-President, TCS
    Karnataka Bank: Invest
    If it's Tuesday, it must be Belgium
    Disenchanted with the market
    Shortsell


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

    Copyright 2005, 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