The Hindu Business Line : Update

Tata Mutual has launched a three-year close-ended fund — Tata Capital Builder Fund. The fund will be converted to an open-ended scheme after completion of three years. The scheme aims at capital appreciation by investing mainly in mid- and small-cap companies. The fund will benchmark itself against the Sensex and invest at least 70 per cent of its assets in equity and up to 30 per cent in debt.

The fund will be open for initial subscription between July 10 and August 18. The minimum investment is Rs 5,000. There will be no entry load during the new fund offer period. An exit load equivalent to the un-amortised new fund offer expenses will be recovered from the investor in case of redemption before expiry of three years from the date of allotment.

Franklin Templeton Investments has launched a new scheme, Franklin Templeton Fixed Tenure Fund Series VI - 60 months. The fund will invest at least 70 per cent in debt instruments that mature in line with the duration of the fund. Up to 30 per cent will be invested in equities. Redemptions can be made on a half-yearly basis along with the applicable charges for such redemptions before maturity of five years. For redemptions made before one year 4 per cent would be charged on exit. Redemption charges would reduce over the second, third and fourth year and will be nil after 4.5 years. The new fund offer is open from July 10 to 31. Minimum investment is Rs 10,000.

Mr Mihir Vora has been appointed Head of Fund Management, Equities, at HSBC Asst Management (India). Mr Vora was earlier with ABN Amro Mutual as Head of Equities.

With effect from August 1, Deutsche Mutual will assume the following as record date for dividend declaration. The weekly dividend record day will be every Friday. The monthly, quarterly and yearly dividend record date, if any, shall be the last Friday of the respective period or any other day as decided by the trustees.

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