The Hindu Business Line : Fund Update

Franklin Asset Management Company has launched Templeton Fixed Horizon Fund Series IX- Plan C a closed-ended income fund. The objective of the fund is to invest 100 per cent of the assets in debt and money market instruments. The NFO closes on 23 July.

Deutsche Mutual Fund revises load structure in the following funds: DWS MIP Fund Plan A and Plan B:The fund will charge an exit load of 0.5 per cent for purchase less than 10 lakh if redeemed within 12 months and above 10 lakh if exited within six months.

DWS Premier Bond: An exit load of 0.5 per cent would be charged for purchase less than 10 lakh if redeemed within six months and there will be no exit load for purchase above 10 lakh.

Union Bank of India has entered into an agreement with Belgium-based KBC asset management to form a joint venture asset management company in India. Union Bank will have a 51 per cent stake while KBC will hold a 49 per cent stake. Union Bank plans to utilise 1,000 of its branches for the mutual funds venture.

Fidelity asset under management and Principal asset under management have entered into an agreement with Bajaj Allianz Financial Distributors for the distribution of their products respectively.

Taurus Mutual Fund has appointed Mr Nazish Ahmed as head of the marketing department with effect from July 1.

Mr M. S. Sahoo joined as Whole-time Director of the Securities and Exchange Board of India. He was earlier a director of capital markets in the Finance Ministry. Prior to that he also served as chief general manager of SEBI.

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