The Hindu Business Line : Fund Update

Franklin Templeton Investments has announced maiden dividend under the Franklin Templeton Capital Safety Fund 3-Year and 5-Year plan. A dividend of 2.5 per cent and 3.5 per cent has been announced under the dividend options respectively. The record date for the same has been fixed as April 11.

Birla Sun Life Mutual Fund has introduced exit load under Birla Dynamic Bond Fund. Currently the fund is not charging exit load but effective March 27 the fund will charge an exit load of 0.20 per cent if redeemed within 30 days.

DSPML Mutual Fund has extended the new fund offer period for its DSPML Natural Resources and New Energy Fund to March 31. Earlier the fund was to close on March 27.

Pioneer Investments has announced, on March 27 that Mr Rajan Krishnan will be the Chief Executive Officer of their joint venture AMC with Bank of Baroda. Mr Krishnan has earlier worked with Principal PNB AMC as business head. Prior to Principal, he was Vice President, Sales & Marketing, at Zurich AMC.

The Robeco group has picked up a 49 per cent stake in Canara Bank’s asset management arm. George Moller, CEO of the Group said that they have already allocated USD 1 billion to the Indian market and that they would like to increase it from an international perspective.

Sundaram BNP Paribas Mutual Fund has tied up with Central Bank of India (CBI) to from strategic distribution alliance. Under the MOU signed by them CBI will distribute the entire bouquet of Sundaram BNP Paribas Mutual schemes across its branches and extension counters, across the major cities.

HDFC Mutual Fund has announced a change in the load structure (transaction other than systematic investment plan (SIP), systematic transfer Plan (STP) for investments in HDFC equity Fund, HDFC Capital Builder Fund, HDFC Premier Multi-Cap and HDFC Balanced Fund.

As per the new provision no change in the entry load for the application routed through distributor, agent and broker. Regarding exit load in respect of each purchase/ switch –in of unit less than Rs 5 crore in value, an exit load of one per cent is payable if the units are redeemed/ switched out within 1 year from the date of allotment. However there will be no change in the provision for the investment above Rs 5 crore.

More Stories on : Mutual Funds | Dividend Announcement | New Fund Offer

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