The Hindu Business Line : Update

DSPML Mutual Fund has revised the exit load for its DSPML Technology.com Fund, DSPML World Gold Fund, and regular plan of DSPML Equity Fund, DSPML Top 100 Equity, DSPML TIGER and DSPML Small and Midcap Fund for investments on a prospective basis effective October 8, 2007.

Load on exits within six months from the initial investment has been raised to one per cent from 0.5 per cent previously.

Where the holding period is greater than 6 months but less than a year, an exit load of 0.5 per cent will be levied.

Birla Sun Life Mutual Fund has also decided to impose an exit load of 0.5 per cent on investments less than Rs 5 crore, if redeemed within six months from allotment.

The load will be applicable effective October 4 for nine of its schemes: Birla Sun Life New Millenium, Birla Advantage Fund, Birla Infrastructure Fund, Birla Balance, Birla MNC Fund, Birla Sun Life Buy India Fund, Birla Sun Life Basic Industries, Birla India Opportunities and Birla India Dividend Yield Plus.

There has been some shuffling in the management of some of the funds of ABN AMRO Mutual Funds. ABN AMRO Equity and ABN AMRO Sustainable Development Fund will now be managed By Mr Amit Nigam.

Mr Pradeep Kumar will manage ABN AMRO Opportunities and ABN AMRO Future Leaders.

These funds were previously managed by Mr Prateek Agarwal, Head of Equities- ABN AMRO Mutual Fund. These changes are effective October 1, 2007.

HSBC Mutual Fund has declared dividends of Rs 1.5 per unit for both HSBC India Opportunities Fund and HSBC Mid Cap Equity Fund. The record date is October 5.

International funds appear to be the flavour of the markets currently. ICICI Prudential Indo Asia Fund has mobilised close to Rs 1000 crore from its initial public offering in August-September.

Bank of Baroda has signed an agreement on October 05 with Pioneer Investments of Italy to form a joint venture. The existing asset management company of Bank of Baroda will now be called Baroda Pioneer Asset Management Company, with Pioneer holding a 51 per cent stake.

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