The Hindu Business Line : Fidelity launches India Special Situations Fund

Franklin India Taxshield '96, a close-ended tax-saving scheme from Franklin Templeton Mutual, is due for redemption on March 31. The units outstanding shall be redeemed at the NAV (net asset value) on March 31.

Fidelity Mutual is launching Fidelity India Special Situations Fund, which will invest in the stocks of companies that are in the midst of a turnaround, a merger/acquisition and other special situations. The offer, which opened on March 28, closes on April 26. The fund house recently appointed Mr Sameer Kulkarni, formerly Senior Vice-President and Head, Fixed Income, at Franklin Templeton, as the fund manager for Fidelity Multi Manager Cash Fund.

DSPML Mutual has declared a dividend of Rs 7.50 per unit in DSPML Top 100 Equity. The record date is April 10.

Escorts Mutual Fund has announced a dividend of 35 per cent, 50 per cent and 40 per cent under Escorts Tax Plan, Escorts Growth Fund and Escorts Balanced Fund respectively. The record dates are March 23, March 24 and March 27, respectively.

HDFC Mutual has appointed Mr Srinivas Rao Ravuri as fund manager of HDFC Growth with effect from April 3. He was formerly Assistant Vice-President, Equity Research, with the fund house.

SBI Mutual has effected changes in the load structure of systematic investment plans and systematic transfer plans of its equity schemes. The entry load has been raised to 2.25 per cent from 1 per cent; a load of 1 per cent will be charged for exits within six months from the date of each instalment.

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