The Hindu Business Line : Fund Update

AIG Mutual Fund has launched an open-ended equity scheme AIG Infrastructure and Economic Reform Fund. The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio.

With at least 65 per cent in equity and equity-related securities of companies involved in economic development of India as a result of potential investments in infrastructure and unfolding economic reforms.

The scheme would invest 80-00 per cent in equity and equity related instruments.

The investment in domestic debt and money markets instruments is 0-20 per cent. The NFO opens on January 10 and closes on January 31.

The scheme would charge an entry load of 2.25 per cent for investment below Rs 5 crore.

The minimum one-time investment under the regular plan is Rs 5,000 and in multiplies of Re 1 thereafter.

Franklin Templeton Investments has declared a dividend of 70 per cent (Rs 7 per unit on face value of Rs 10) in its open-ended diversified equity fund Franklin India Bluechip Fund. The record date for the same is January 9.

SEBI has waived the entry load on mutual funds with effect from January 4 for the investments bought directly from mutual fund companies. Such purchase can be made either through the Internet or through applications submitted directly to the AMC or to their investor’s services centres’.

The load waiver would also be applicable to additional purchases done directly by the investor under the same folio and switch-in to a scheme from other schemes.

UTI Mutual Fund will open 53 new branches in the next three months across the country by utilising a part of proceeds from its proposed public offer. It is planning to increase the number of branches to 133 by end of March 2008 from 80 branches at present.

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