Financial Daily from THE HINDU group of publications
Sunday, Mar 19, 2006
Financial Daily from THE HINDU group of publications Sunday, Mar 19, 2006 |
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Investment World
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Mutual Funds MF Update
Investors continue to show a huge appetite for new fund offers. According to initial reports, Reliance Equity Fund has mobilised Rs 4,500 crore, the highest collection ever by any new fund offer. This beats the record Rs 4,472 crore raised by UTI Equity, formerly UTI MasterGain during the 1992 stock market boom. With this offer, Reliance Mutual Fund will have an asset base of Rs 21,358 crore. It will be the second largest private asset management company, after PruICICI Mutual Fund. Kotak Mutual Fund has declared dividends of 45 per cent and 35 per cent respectively in Kotak Opportunities Fund and Kotak Balanced Fund. The record dates are March 21 and March 25 respectively. Santosh Kamath has been appointed as CIO, Fixed Income at Franklin Templeton Mutual Fund. Mr Kamath earlier held the same post at ING Vysya Mutual and was head of Debt Markets at Zurich Asset Management before that. Canbank Mutual has declared a dividend of 40 per cent on Canequity Tax Saver. The record date is March 16. Birla Mutual has declared a dividend of 100 per cent in Birla Sunlife Basic Industries and 75 per cent in Birla Sunlife Buy India Fund. The record dates are March 24 and March 28, respectively. Reliance Mutual Fund has declared a gross dividend of 2.99 per cent in Reliance Income Fund- Half Yearly Plan. The record date is March 16. ING Vysya Mutual proposes to declare a dividend in ING Vysya Tax Savings Fund, the record date for which is March 20. HSBC Mutual proposes to declare a dividend on HSBC Equity, the record date for which is March 24.
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