The Hindu Business Line : Update

Birla Sun Life Mutual has extended the offer period for Birla Sun Life Long-Term Advantage Fund Series-I by seven days. The offer will close on May 18.

HDFC Mutual Fund has launched a three-year close-ended scheme, HDFC Mid-Cap Opportunities Fund. The scheme will automatically become open-ended on maturity. The fund seeks to invest in equity and equity-related securities of mid-and small-cap companies and will have an equity component of 75-100 per cent. Debt and money-market securities will be in the range of 0-25 per cent.

During the NFO period, the fund will not charge entry or exit loads. Mr Chirag Setalvad will manage the fund along with Mr Anand Laddha (for foreign securities). The fund is open from May 7-June 8.

DSPML Mutual Fund has launched DSPML Micro Fund with a lock-in period of three years. The scheme will automatically convert into an open-ended scheme after three years.

The fund's aim is to seek long-term capital appreciation by investing 65-100 per cent of the assets in stocks that are not part of the top 300 companies by market capitalisation. The fund will invest 0-35 per cent in companies that are part of the top 300 companies.

The fund will also have the option of investing 0-35 per cent of assets in debt and money market securities. It will not charge any entry load during the NFO period but will have an exit load of 0-4 per cent. The minimum one-time investment is Rs 10,000.

ING Vysya Mutual Fund has introduced Zoom Investment Pac (ZIP). ZIP allows investments in ING Vysya Liquid Fund and offers a systematic daily transfer plan (on all business days) to invest in equity schemes of ING Vysya.

Investors can make a minimum initial investment of Rs 5,000 in the ING Vysya Liquid Fund (regular plan-growth) and a pre-fixed amount (as low as Rs 99) from this lump-sum investment will be transferred through a STP (systematic transfer plan). However, daily transfers to ING Vysya Tax Savings Fund will have to be a minimum of Rs 500 and multiples thereof.

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