The Hindu Business Line : Fund Update

Fidelity Mutual has launched Fidelity India Growth Fund, an open-ended diversified equity scheme, which will invest largely in growth-oriented companies in Indian and international markets. The international exposure will be around 10 per cent of the fund’s corpus. Overseas investments will be in companies that benefit from India’s growth or generate substantial revenue from India. The new fund offer opens on September 3 and closes on September 26.

The fund, which will have no market capitalisation bias, will be benchmarked against BSE 200.The minimum subscription is Rs 5,000. The scheme offers growth and dividend options. The fund charges an entry load of 2.25 per cent. Mr Sandeep Kothari and Mr Leng Ng will manage the fund.

ICICI Prudential Mutual Fund has notified an addendum to the offer documents of ICICI Prudential’s Dynamic Plan, Discovery Plan, Emerging S.T.A.R Fund, Growth Plan, Power, Services Industries Fund and Infrastructure Fund.

The trustees of the fund have notified that no exit load will be charged on all the new applications made on or after September 1 through systematic investment plan or systematic transfer plan.

Canbank Mutual Fund has announced dividends of 30 per cent and 7 per cent under Can Equity Diversified and Can Gilt PGS respectively. The record date is September 5.

JM Mutual Fund has appointed Mr Mohit Verma as the Debt Chief Investment Officer from August 28. He will be responsible for managing JM Income Fund, JM G-Sec Fund and JM Short Term Fund.

ICICI Prudential Mutual Fund has announced dividend under ICICI Prudential Fixed Maturity Plan Series 34- Six months Plan. The record date is September 5 .The recommended rate of dividend is 100 per cent of the distributable surplus.

Tata Mutual has declared dividends under two of its schemes, Plan A and Plan B of Tata Dynamic Bond Fund and Tata Fixed Horizon Fund Series 10 Scheme F. The dividend recommended is 100 per cent of distributable surplus. September 4 is the record date for dividend.

More Stories on : Mutual Funds | New Fund Offer

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page