The Hindu Business Line : Update

PruICICI Mutual has added more auto debit centres for schemes which have a systematic investment facility. The Allahabad, Amristsar, Kochi, Rajkot, Thrissur and Varanasi centres will now have facility for investing in SIP option via electronic clearing service .

The fund house has further changed the exit load structure for investments under the systematic investment/transfer plan made in PruICICI Power Fund and PruICICI Discovery Fund. For all SIP and STP investments made between June 21 and July 31, 2006, the structure will be as follows:

If redemptions are made between June 21 and July 5, 2006 no exit load shall be charged. If redemptions are made after July 5, 2006 but on or before the end of six months from the date of investment of each instalment of SIP/STP investment, there is an exit load of 0.5 per cent.

HSBC Mutual Fund has launched HSBC Fixed Term Series IX. The new fund offer is open from June 20-27, 2006. The scheme will have a tenor of 370 days.

Prudential ICICI Mutual Fund has announced June 30 as the record date for declaration of dividend under PruICICI Income Plan - Quarterly Dividend Option.

June 29 will be the record date for dividend under PruICICI Liquid Plan - Quarterly Dividend Option.

LIC Mutual Fund has launched a new close-ended income scheme, LICMF Fixed Maturity Plan Series 7. The new fund offer is open from June 23-28. The scheme is open for repurchase from July 5. LIC Mutual has also changed the load structure for a number of schemes in its basket with effect from June 30, 2006. LICMF Equity, LICMF Growth and LICMF Opportunities will have a revised exit load of 2.25 per cent for investments up to Rs 1 crore.

Standard Chartered Mutual Fund has entered into a strategic tie-up with Indian Overseas Bank for distribution of its schemes.

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