The Hindu Business Line : Fund Update

Mr Anoop Bhaskar, former Head of Equity at Sundaram BNP Paribas Mutual Fund, has assumed the role of Head of Equity at UTI Mutual Fund. Following his exit, Mr N. Prasad, Chief Investment Officer of Sundaram BNP Paribas Mutual Fund, will be taking over the management of Sundaram Select Midcap, Tax Saver, Select Small Cap, Equity Multiplier and the equity portfolio of the Balanced Fund and Monthly Income Plan.

Mr Satish Ramanathan, Vice President and Portfolio Manager, ceases to be a part of Franklin Templeton with effect from March 31. Mr Abhinav Kumar has been appointed as fund manager in Franklin equity Team, effective April 2. He will co-manage Franklin Pharma fund along with Mr Anand Radhakrishnan.

Dividend declarations

Franklin Templeton Investments has declared a maiden dividend of 7 per cent or Rs 0.70 per unit under its Templeton India Equity Income Fund. The record date is April 18.

UTI Mutual has declared a dividend of Rs 1.5 per unit under its UTI- Master Equity Plan Unit Scheme (MEPUS). The record date is April 17.

Launches

Birla Sun Life Mutual Fund has launched Birla Sun Life Long Teem Advantage- Series I, a three-year close-ended equity scheme that will invest in mid-cap and small-cap stocks. The fund's benchmark will be the BSE 500. The minimum investment amount is Rs 5,000 and in multiples of Rs 1 thereafter during the new fund offer period. The exit load is Nil. Investors offering units for redemption before maturity of the scheme will be charged balance proportionate unamortised issue expenses on the applicable NAV. The fund will be managed by Mr Jayesh Gandhi. The offer, which opened on April 9, will close on May 11.

The closing date of the new fund offer of Franklin Templeton Fixed Tenure Fund - Series VIII- 60 months plan has been postponed to April 18 and the allotment date has been extended to May 4. The maturity date has been extended to May 3, 2012.

UTI Gold ETF is to list on the National Stock Exchange on April 17. Investors can buy or sell units on the exchange once it is listed.

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