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BL Research Bureau

PruICICI Mutual Fund is launching Blended Plan, which would invest in short-term debt and equity arbitrage positions.

The fund offers two options: Plan A would invest up to 50 per cent in fully hedged equity, up to 49 per cent in money market and a small percentage in equity. Plan B would invest between 51 and 100 per cent in money market securities and the balance in fully hedged equity. The minimum investment amount is Rs 5,000. The offer opens on April 28 and closes on May 18.

Birla Mutual Fund has revised the load charges of Birla Equity Plan and Birla Index Fund with effect from May 2.

For Birla Equity Plan, an entry load of 2.25 per cent would now be charged only for purchase of units less than Rs 2 crore.

For purchases between Rs 2 crore and Rs 5 crore, a load of 0.50 per cent is applicable. For purchases greater than Rs 5 crore, the load is waived. An entry load of 0.50 per cent would also be imposed for purchases of units greater than Rs 10 lakh in Birla Index Fund.

SBI Mutual has revised the load structure of the following funds with effect from May 2: Magnum Equity, Magnum Global, Magnum Multiplier Plus, Magnum Balanced, Magnum Sector Funds Umbrella and Magnum Midcap.

The entry load of 2.25 per cent would now be imposed on investments up to Rs 5 crore and would be waived for purchases higher than Rs 5 crore.

Benchmark Mutual Fund has lifted the Rs 100-crore limit it had imposed on the corpus size of Benchmark Derivative Fund.

The fund believes that it would be able to deploy more sums into the market with 70 additional securities set to be added to the derivative segment shortly.

The fund will now be available with a new load structure where entry load for investments greater than Rs. 5.5 crore will be waived off.

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