The Hindu Business Line : Update

Tata Mutual has launched Tata Growing Economies Infrastructure Fund. The scheme is open ended- with two options – Plan A and Plan B. The fund seeks to invest in infrastructure and related sectors in India and other growing economies abroad. The company has defined growing economies as those countries with an average GDP growth rate of 2 per cent or more over the past three years.

Plan A will invest 51-70 per cent of the assets outside India while 65-85 per cent of the investments will be allocated for overseas investment under Plan B. The new fund offer is open from February 18 to March 19. The entry load for investments below Rs 2 crore is 3 per cent. The exit load is 1 per cent if redemption is made before 12 months from the date of allotment.

Bajaj Capital jointly with Optimix has designed a new product under the banner ‘Mywrap Account’. Bajaj Capital has announced that the product will provide an opportunity to invest in a basket of mutual funds without any entry load.

The product will offer three options-capital growth, high capital growth and all equity. Investments will be made in funds that have exposure to Indian and international equities, commodities, debt, real estate and other structured products.

The product comes after SEBI’s recent stipulation not to charge entry load for direct investments in mutual funds.

As Optimix is a fund house and a partner in this product, the scheme will qualify for ‘no entry load’.

The initial offer period for the scheme is February 7-29.

ICICI Prudential AMC has won the Lipper Awards (India) 2008 for the ‘Best Overall Fund Group over three years’ and also the ‘best bond group over three years and ‘Best Mixed Assets Group over three years’.

Birla Sunlife AMC also won Lipper Awards for the following funds – Birla Sunlife Income Fund (three and ten-year categories), Birla Sunlife ’95 Fund and Birla Gilt Plus Regular Plan.

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