The Hindu Business Line : Update

HDFC Mutual Fund has advanced the closure of the new fund offer of HDFC FMP 13M September 2006 (1) by seven days. The fund now closes on September 27 instead of October 4.

As there are no significant distribution or marketing charges associated with direct investments made by foreign institutional investors and their sub-accounts, Franklin Templeton Investment has waived the entry and exit loads for the direct investment made by FIIs and their sub-accounts in Franklin India Prima Plus with effect from September 19.

HDFC Mutual Fund has also decided to waive the entry and exit loads in HDFC Equity Fund, HDFC Top 200,HDFC Capital Builder, HDFC Growth, HDFC Premier Multi-cap and HDFC Core and Satellite on investment made by FIIs and their sub-accounts with effect from September 22 on a prospective basis.

Franklin Templeton Investment has revised the minimum investment amount for fresh purchase, additional purchase and switches in Templeton India Pension Plan to Rs 500 and multiples of Re 1 thereafter, with effect from September, 19.

JM Mutual has launched an open ended liquid fund, JM Money Manager, which will invest in debt and money market instruments. The minimum investment is Rs 1,00,000. It offers growth and dividend options under regular, super and super plus plans. The offer opens on September 25 and closes on September 27.

PruICICI Mutual Fund has declared a dividend of Rs 1. 20 per unit, or 12 per cent, under PruICICI Balanced Fund. The record date is September 29.

Sundaram BNP Paribas Asset Management Company has filed draft documents with the regulator to launch two close-ended debt funds. Sundaram BNP Paribas Fixed term plan Series XII and Sundaram BNP Paribas Fixed Term Plan- Series XIII will have maturities of 18 and 30 months respectively. Both funds can invest their assets either in debt or money market instruments, or a mix of both.

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