The Hindu Business Line : Fund Update

Franklin Templeton Mutual Fund has announced a dividend of 60 per cent under the dividend option of Franklin India Prima Plus Fund. The record date for the same is February 13.

Mirae Asset Global Investment Management (India) has launched its first equity fund, Mirae Asset India Opportunities, which is an open-ended diversified equity fund.

The investment objective of the fund is to generate long-term capital appreciation by capitalising on potential investment opportunities through predominantly investing in equities and equities related securities. The fund will invest 65-100 per cent in equity and 0-35 per cent in money market instruments or debt securities, which includes up to 25 per cent of corpus in securitised debt.

The fund would seek to deliver returns by focusing on select high performance sectors or industries. It also offers complete flexibility to diversify across sectors, market caps and investment styles and thus seeks to minimise risks during market volatility.

The minimum amount for investment is Rs 5,000 and multiplies of Re 1.The fund would charge an entry load of 2.25 per cent for an investment less than Rs 5 crore.

The fund would be benchmarked against BSE 200. The NFO closes for subscription on March 11.

Morgan Stanley Mutual Fund has launched its open-ended equity scheme Morgan Stanley A.C.E (Across Capitalisation Equity). The fund’s objective is to generate long-term capital growth from an actively managed portfolio of equity and equity related securities, including equity derivatives. The fund will seek both value and growth and will not be restrict itself to sectors, themes or market capitalisation.

The NFO is priced at Rs 10 per unit. The new fund has an entry load of 2.25 per cent. The New Fund Offer closes on March 10.The fund is benchmarked against BSE 200 and will be managed by Mr Jayesh Gandhi. This is the second scheme launched by the fund house after 14 years.

Morgan Stanley Growth Fund has informed the stock exchanges of its plan to convert into an open-ended fund. The entire process would however take three-four months as the fund has to delist itself from the six stock exchanges and also receive SEBI’s clearance for the proposal.

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