The Hindu Business Line : Update

Morgan Stanley Mutual Fund has announced that Morgan Stanley Growth Fund (MSGF), which was initially close-ended, would become an open-ended fund from January 2009. As per the regulatory guidelines, the unit-holders will be given the option of redeeming the fund at NAV, without any exit load.

Fortis Mutual Fund (formerly ABN AMRO) has announced the appointment of Mr Sameer Narayan as fund manager for Fortis Future Leaders and Fortis Opportunities with effect from November 25. These funds were initially managed by Mr K.C. Reddy, CIO of the fund house.

UTI Mutual Fund has declared a dividend for UTI Master Value Fund. The dividend will be distributed out of 90 per cent of the available surplus. The record date is December 1.

Templeton India Pension Plan (lock-in period three years) is now open for subscription to Non-Resident Indians and Person of Indian Origin residing abroad on full repatriation basis and on non-repatriation basis (but not by United States persons within the meaning of Regulation ‘S’ under the United States Securities Act of 1993). NRIs up to the age of 58 years can join the scheme.

Axis Bank has received in-principle approval from SEBI to launch its asset management company. The bank is expected to start operations within next few months. The bank will market and distribute its products through the bank’s branches.

More Stories on : Mutual Funds | Mutual Funds

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