The Hindu Business Line : StanChart launches Premier Equity Fund

Standard Chartered Mutual Fund has launched Standard Chartered Premier Equity Fund, its second equity fund. The fund will invest in mid-sized and small companies. The offer closes on September 26, but could close earlier as the fund plans to limit the size of the offer to Rs 300 crore.

The fund will also be open for subscription only when the fund managers feel that the stocks are reasonably valued. It will close subscription if the fund manager feels that investment opportunities have diminished.

ING Vysya Mutual Fund has fixed September 15 as the record date for the purpose of dividend declared on ING Vysya Equity Fund.

The fund has also revised the asset allocation pattern of ING Vysya MIP-Plan B. Up to 20 per cent will be invested in equity under the revised pattern. As this is a change in the fundamental attribute of the fund, investors have been given the option to exit the fund by October 12. The exit load will be waived.

Birla Mutual has clarified that in the case of redemption/switch due to investors holding more than 25 per cent of the fund, no exit load will be charged.

HDFC Mutual has revised the definition of large-cap and mid-cap companies for its HDFC Premier Multi-Cap Fund, following the introduction of CNX Midcap Index. Accordingly, large-cap companies will be those with a market capitalisation greater than the market cap of the largest company in the CNX Midcap Index.

Mid-cap companies are companies with a market cap ranging from Rs 500 crore up to the market cap of the largest company of the CNX Midcap Index.

Sundaram Mutual Fund has raised Rs 600 crore from the initial public offer of Sundaram Capex Fund.

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