The Hindu Business Line : Fund update

Canara Robeco Mutual has announced the merger of two existing schemes Canara Robeco Expo and Canara Robeco Fortune 94 with Canara Robeco Equity Diversified Scheme. This merger will be effective April 23. Investors who prefers to exit the scheme can do so by April 22, without any exit load.

ICICI Prudential has announced a revision in the asset allocation pattern of ICICI Prudential Child Care Plan –Study Plan. Effective May 2 the fund will increase the maximum equity exposure from 15 per cent to 25 per cent.

The allocation to debt securities, money market instruments, securitised debt and cash will also be revised from a minimum of 85 per cent to 75 per cent. Existing investors will have the option to exit the above scheme from April 10 to 30, inclusive of both days, at NAV on a no-load basis.

ICICI Prudential Mutual has launched ICICI Prudential Focused Equity Fund, an open-ended equity scheme. The objective of the fund is to generate long-term capital appreciation and income distribution to unit holders from a portfolio that is invested in equity and equity related securities of about 20 companies belonging to the large-cap domain and the balance in debt securities and money markets instruments.

The fund will select stocks for investment from among the Top 200 stocks in terms of market capitalisation on the National Stock Exchange of India. If the total assets under management under this scheme go above Rs 1,000 crore, the fund manager reserves the right to increase the number of companies to more than 20.

The NFO opened for subscription on April 8 and closes on May 7. The minimum investment under retail option is Rs 5,000.

AIG Investments, the asset management arm of the American International Group, has launched the open-ended AIG World Gold Fund. This fund of funds will invest in companies engaged in contracting, processing and marketing gold. The investment will be routed through an international fund.

The NFO will open from April 15 and close on May 14. It will reopen for ongoing purchase or redemption not later than June 12. The minimum investment is Rs 5,000. The scheme’s main objective is to provide long-term capital appreciation through minimum investment of 80 per cent in units of AIG PB Equity Fund Gold based in Zurich.

(Queries may be e-mailed to mf@thehindu.co.in, or sent by post to Business Line, 859- 860, Anna Salai, Chennai 600002.)

More Stories on : Mutual Funds | New Fund Offer

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page