The Hindu Business Line : Franklin MF suspends sale of India Prima scheme

Franklin Templeton Mutual Fund will suspend fresh sales under its Franklin India Prima scheme. The suspension is effective from February 4, 2006, for a period of six months. Investors can however redeem their investments at any time.

Further, the suspension is applicable only for one-time investments. There is no bar on investments made through systematic investment plans, systematic transfer plans or dividend transfer plans. The fund will also continue to issue units under the dividend re-investment plan.

Chola Mutual Fund has launched Chola Contra Fund - an open ended equity scheme which aims to use the contrarian investment strategy. At least 65 per cent of the assets will be invested in equity and equity-related investments.

The new fund offer opened on January 17 and will close on February 14. Minimum application amount in the initial offer period is Rs 5,000. Investment made through the systematic investment route will not carry any load. Both cumulative and dividend options are available under the scheme.

Tata Mutual Fund has launched a close-ended tax-planning equity fund named Tata Tax Advantage Fund-1.

The scheme opened for initial subscription on January 16 and will close on February 20. Being close-ended, no investments would be accepted after the new fund offer period. Investors can, however, withdraw money after the three-year lock-in period.

The fund plans to invest at least 80 per cent of its assets in equities and rest in debt and money market instruments. Minimum investment under the scheme is Rs 500 and entry load is 2 per cent.

UTI Mutual Fund has declared a dividend of 101 per cent under its UTI Services Sector Fund. February 8 is the record date for the dividend.

DSP ML Mutual fund has declared a 50-per cent dividend under the DSP ML Opportunities Fund. The record date has been fixed as January 24.

More Stories on : Mutual Funds | Mutual Funds | Fund Watch

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page