The Hindu Business Line : Update

Standard Chartered Mutual has declared a maiden dividend of 15 per cent under its Standard Chartered Classic Equity scheme. August 22 is the record date for declaration of dividend.

ING Vysya Mutual has extended the new fund offer period of ING Vysya C.U.B Fund. The new fund offer will now close on August 23.

Reliance Mutual has completely withdrawn the restriction/upper limit imposed on subscription in Reliance Equity and Reliance Growth schemes with effect from August 18. Fresh and additional subscriptions including systematic investment plans will henceforth be accepted without any limit, subject to the minimum subscription amount for each scheme.

Franklin Templeton has announced that Mr Vikas Chiranewal, Manager, Emerging Markets Group, will be dedicated for managing investments in ADRs/GDRs/ foreign securities for the Templeton Equity Team (currently Templeton India Equity Income Fund). This comes on the back of SEBI requiring funds to have a dedicated manager for schemes investing in foreign securities.

DSPML Mutual has declared a dividend of 40 per cent under DSPML Balanced Fund. Record date for the dividend is August 22.

ABN Amro Mutual Fund has appointed Mr Pradeep Kumar as Fund Manager, Equities, of ABN Amro Asset Management with effect from July 28. He will manage ABN Amro Dividend Yield Fund.

PruICICI Mutual has launched a close-ended income fund called Prudential ICICI Hybrid Fixed Maturity Plan - 13 Months Plan. The fund will primarily invest in fixed income securities and debt instruments but it can also invest up to 15 per cent in equity.

While there will be no exit load on maturity, a load of 2 per cent on the NAV would be made for redemptions made during the repurchase facility period. The offer is open from August 21 to 25.

UTI Fixed Maturity Plan Yearly Series (YFMP 08/06) will open for sale from August 16 and close on August 22, instead of the earlier proposed date of August 31. The scheme will reopen for redemption from August 29.

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