The Hindu Business Line : Update

SBI Mutual Fund has announced that it has extended the closing date of SBI Infrastructure Fund -Series I by three days to June 11. The three-year close-ended equity fund opened for subscription on May 11.

ABN AMRO Asset Management has extended the closing date of ABN AMRO Flexible Short Term Plan Series C to June 11 from June 5.

OptiMix, a division of ING Investment Management has announced the dividend of Rs 0.20 per unit in OptiMix Active Debt Multi Manager FoF Scheme. Record date for the same is June 11.

Sundaram BNP Paribas Mutual Fund has tied up with The Saraswat Co-operative Bank to form distribution alliance. The Bank will distribute entire bouquet of Sundaram BNP Paribas Mutual schemes across its 105 fully computerised branches and 13 extension counters across major business cities in the country.

AIG India has filed initial papers with SEBI to launch a debt fund and a cash fund. The debt fund, called AIG India Treasury Plus, will invest at least half of the assets in debt instruments with average maturity of 12 months or less and the rest in instruments with maturity of more than 12 months.

Tata Life Sciences & Technology Fund has revised their entry load structure, applicable since May 31, 2007 onwards. The fund will now charge an entry load of 2.25 per cent for investment amount less than Rs 2 crore. But no change has been made in exit load and it continues to be 1 per cent for investment amount less than Rs 2 crore if redemption is made within six months.

JM Financial Mutual Fund proposes to convert its Liquid Fund JM Money Manager Fund into a Debt Oriented Fund with effect from July 9. With this, the fund announced change of investment objective of the scheme to generate stable long-term returns with low risk strategy and capital appreciation through investments in debt instruments and related securities besides preservation of capital.

Investment pattern of the scheme would be in debt and money markets between 0-100 per cent. The minimum invest amount as a result of the above has changed from Rs 1,00,000 to Rs 5,000 and multiplies of Re 1 thereafter. The fund also offers additional facilities such as systematic investment plans, systematic withdrawal plan and systematic transfer facility.

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