The Hindu Business Line : PruICICI MF to levy entry load on SIP

Mr Sanjay Sinha has replaced Mr Sandip Sabharwal as Head of Equity at SBI Mutual Fund. Mr Sabharwal is no longer with SBI Mutual Fund. Mr Sinha was earlier part of the fund management team at UTI Mutual Fund.

At SBI, he will now manage Magnum MultiCap Fund, Magnum Contra Fund, Magnum Emerging Businesses Fund, Magnum Equity Fund and Magnum Global Fund.

He will also co-manage Magnum Multiplier Plus Fund, Magnum NRI-Fixed Asset Plan Fund, Magnum MidCap Fund, Magnum Pharma Fund, Magnum IT Fund, Magnum FMCG Fund and Magnum Tax Gain Scheme.

Franklin Templeton has launched the Hindi version of their Web site at the URL: www.franklintempletonindia.com/Hindi.

This Web site provides information on fund NAVs, factsheets and portfolios and the latest developments at Franklin Templeton. It also has a learning section that investors can tap into for understanding mutual fund investing.

PruICICI Mutual Fund proposes to levy an entry load of 1 per cent on investments made through the Systematic Investment or Systematic Transfer route.

A new exit load of 1.25 per cent on the NAV has also been introduced if investments made through the systematic investment or transfer are redeemed within two years. The proposals take effect from December 1.

The new fund offer from Franklin India Smaller Companies Fund, an interval fund, which opened on November 16, closes on December 14.

UTI Mastergrowth has declared a dividend of Rs 2.5 per unit. The record date for the dividend is December 15.

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