The Hindu Business Line : Update

LIC Mutual has declared a dividend of 10 per cent under LICMF Balanced Fund. The record date is September 5. LIC Mutual has changed the load structure for its Index fund. The present entry load up to Rs 1 crore is 2.25 per cent. And there is no entry and exit load above that limit. The revised entry load structure, irrespective of the application size, is 2.25 per cent.

Principal PNB Asset Management Company has also announced a change in the load structure for both entry and exit and has changed the cut-off timings. The existing entry load for investments less than Rs 2 crore is 2.25 per cent (for above Rs 2 crore it is nil). The revised load structure for investments less than Rs 5 crore is 2.50 per cent. Under the revised structure, if the investment is redeemed before 180 days, the exit load is one per cent and if between 181 days and 365 days, it is 0.50 per cent. For redemption after 365 days, there is no exit load.

Change in the cut-off timings for determining NAV: For valid applications received up to 12.30 pm by the fund along with a local cheque or a demand draft payable at par, the closing NAV of the day shall be applicable. For any application received after the cut-off time, the NAV of the next working day shall be applicable.

Tata Mutual Fund has revised the load structure for its Tata Pure Equity Fund (TPEF) and Tata Infrastructure and Equity Opportunities Fund (TIEO) effective September 1. It has introduced an exit load of 0.50 per cent for investments less than Rs 1 crore if redeemed within three months. For TIEO, an exit load of 0.50 per cent will be charged for investments less than Rs 2 crore, if redeemed within three months.

Mr Vinay Kulkarni has joined Tata Mutual as a Senior Fund Manager, effective August 18. He has been assigned to manage the following schemes: Tata Equity Opportunities, Tata Mid Cap, Tata Monthly income and Tata MIP Plus. These were earlier managed by Mr M. Venugopal

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