Business Daily from THE HINDU group of publications
Sunday, Jun 01, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Sunday, Jun 01, 2008 ePaper | Mobile/PDA Version | Audio |
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Investment World
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Mutual Funds Markets - New Fund Offer Birla Sun Life Mutual Fund has announced the change in the load structure in Birla Dynamic Bond Fund. The fund will charge an exit load of 2 per cent on redemptions or switch outs made within 180 days of date of allotment. This revised load structure will be applicable from May 30. ICICI Prudential Mutual Fund has announced a change in load structure in ICICI Prudential Focussed Equity Fund, with effect from May 30. If investors redeem or switch within six months from the date of allotment, an exit load of 1 per cent will be charged; an exit load of 0.50 per cent will be charged and if redemption is made within a year . These changes will be applicable for investments less than Rs 5 crore. Quantum Mutual has announced the launch of its second equity offering, Quantum Index Fund ETF. The scheme will be an open-ended exchange traded fund which will invest in stocks of the companies comprising the S&P CNX Nifty Index and endeavour to achieve returns equivalent to S & P CNX Nifty by “passive” investment. The scheme will invest predominantly in companies that constitute the S & P CNX Nifty and / or Nifty futures. The investment would be done in almost all the fifty stocks of Nifty in approximately the same weight as they represent in the Nifty Index. However, to meet the liquidity requirements, a small allocation would be done to money market instruments, short-term debt instruments, securitised debt instruments and liquid schemes of mutual funds. Investments in securitized debt instruments can be made by the scheme up to 5 per cent of the total fund size of the scheme. The new fund offer is open for subscription from June 9, and closes on June 20. The scheme will be managed by Mr Hitendra Parekh. More Stories on : Mutual Funds | New Fund Offer
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