The Hindu Business Line : Update

Though it plans to keep the equity allocation to 90 per cent, the fund will have a minimum allocation of 75 per cent in equity and a maximum of 100 per cent. The allocation to debt will be between 0-25 per cent. There will be no entry load charged during NFO period. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter. The fund offers three options — Growth, Dividend Re-investment and Dividend payout. The fund is managed by Mr K. Umesh Kamath and is benchmarked against BSE-200.

DBS Cholamandalam Asset Management had appointed Mr R. Rajagopal as Head-Equities. Prior to joining the fund he was the Vice-President (Equity Investment) at IDBI Capital Markets Services.

DBS Cholamandalam has declared dividend of Rs 2 per unit in its equity scheme DBS Chola Growth Fund and has fixed December 12 as the record date.

Kotak Mahindra Mutual Fund has extended the new fund offer period of its close-ended balanced scheme Kotak Dynamic Asset Allocation to December 13. The scheme opened for subscription on November 14.

Standard Chartered Tax Saver (ELSS) Fund NFO will close on February 23, 2007. The asset allocation will be 80-100 per cent in equity and 0-20 per cent in debt and money market instruments.

The fund will not charge an entry load during the NFO. Expenses will be amortised over a 10-year period. If an investor exits before the maturity, the AMC will recover the balance proportionate unamortised issue expenses. The fund offers options such as Growth, Dividend and Dividend Reinvestment. The minimum investment is Rs 500.

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