The Hindu Business Line : Birla Sun Life to launch Birla Top 100 Fund

Birla Sun Life Mutual Fund is to launch Birla Top 100 Fund. The fund will invest 65 per cent of its assets in stocks of the top 100 companies in terms of market capitalisation. The fund offers dividend and growth options. The minimum investment amount is Rs 5,000. The offer opens on August 30 and closes on September 28.

SBI Mutual is to launch SBI Magnum Multicap Fund. The fund will invest 50-90 per cent in large-cap stocks, 10-40 per cent in mid-cap stocks and up to 10 per cent in small-cap stocks. The minimum investment amount is Rs 5,000. The offer opens on August 22 and closes on September 16.

Kotak Mutual has declared a dividend of 10 per cent on Kotak Opportunities Fund. The record date is September 28.

Chola Mutual has declared a maiden dividend of 15 per cent on Chola Multi-Cap Fund. The record date is August 29.

LIC Mutual has declared dividends of 10 per cent each on LICMF Balanced Fund and LICMF Tax Plan and a dividend of 25 per cent on LICMF Index Fund- Sensex Advantage Plan. The record date for dividend payout for all three funds is August 25.

PruICICI Mutual Fund plans to launch PruICICI Fusion Fund, a close-ended equity fund that will invest across market capitalisations. The fund will mature five years after the date of allotment.

The Fusion Fund will invest 90 per cent of the assets in equities under normal circumstances. It may however, invest up to 30 per cent in debt securities as a defensive strategy. A draft offer document has been filed with SEBI.

The subscription period for fresh purchases on an ongoing basis for the month of August, under Plan A of PruICICI Blended Plan will be August 22.

Franklin Templeton Mutual Fund has launched Franklin Templeton Fixed Tenure Fund - Series II. The close-ended fund will provide investors steady returns along with capital appreciation through equity exposure. The new fund offer period closes on August 31.

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