Financial Daily from THE HINDU group of publications
Sunday, Apr 17, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 17, 2005 |
|
|
|
|
|
Investment World
-
Mutual Funds Markets - Mutual Funds Columns - Fund Watch MFs mop up record collections from IPOs
Initial public offerings (IPOs) from equity funds collected Rs 7,016 crore, the highest ever in a single month, in March, reports the Association of Mutual Funds of India in its monthly statistics handout. Eight new funds made their debut during this month, including Franklin Flexicap and Reliance Opportunities. Existing open-end equity funds collected Rs 1,812 crore for the month. Another interesting statistic in this month's handout was that every category, except equity funds, saw net outflows as year-end redemption pressures took their toll on debt and liquid funds.
Franklin Templeton has launched Franklin Templeton Fixed Tenure Fund - 60 Month Plan. This is a close-end fund that will invest 70 per cent of the portfolio in debt instruments that will mature in line with the duration of the plan. The balance will be invested in equities. The public offer will be from April 11 to April 29.
HSBC Mutual Fund is rolling out HSBC Midcap Fund, a new equity offering. The fund will cap its size during its IPO at Rs 700 crore. The closing dateis set at May 3, the fund retains the option to close earlier if it garners subscriptions amounting to Rs 700 crore.
ABN Amro's Opportunities Fund has collected Rs 425 crore from 30,000 investors in its IPO.
Franklin Templeton has waived the entry loads for those opting for systematic investment, systematic transfer or dividend transfer plans for its equity funds with effect from April 1. However, the fund will levy an exit load equal to the waived entry load, if these investors redeem their units within two years of investment.
Cholamandalam Mutual Fund plans to launch an index-plus product. This will be a dynamic index fund that will invest in all of the 50 stocks making up the Nifty index. The fund will, however, not mimic the weightages of these stocks in the Nifty and will decide on the weightages based on its own evaluation of each company's prospects.
BL Research Bureau
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
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
|