The Hindu Business Line : Update

Prudential ICICI Asset Management Company has launched Pru ICICI Fusion Fund Series II. The fund is open for subscription until March 16. It is a three-year close-ended diversified fund that will target the growth and re-rating potential of small- and mid-cap companies by building a core portfolio of 30-40 promising companies. The fund also provides investors with a built-in insurance cover for three years.

During the NFO period, the fund will not charge any entry load. However, an exit load of 5 per cent is applicable for redemptions within a year. Subsequently, the fund will charge 4 per cent if redeemed after one year but before two years. Similarly, the fund will charge the proportionate load for redemptions made after the above-said period but before maturity.

JM Financial Mutual Fund has appointed Mr Nityanath Ghanekar as Managing Director and Chief Executive Officer, effective March 1. He is a chartered accountant by profession.

Lotus India Asset Management Company has launched Lotus India Mid Cap Fund, a close-ended fund with a maturity period of three years.

The fund seeks to provide long-term capital appreciation by investing in a portfolio of predominantly equity and equity-related instruments of mid-cap companies.

The scheme offers growth and dividend options with payout and re-investment facility.

The minimum application amount is Rs 5,000 and multiples of Re 1. During the NFO period, the fund will charge no entry or exit load. However, for redemptions made before the maturity period, investors will be charged the balance proportionate unamortised issue expenses on the applicable NAV.

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