The funds of Alliance Mutual will migrate to Birla Sun Life Mutual with effect from September 23. Unitholders of Alliance funds have been given the option to exit the funds before September 2. No exit load will be charged.

ABN AMRO Mutual has launched ABN AMRO Dividend Yield Fund. Growth and dividend options are available. The minimum application amount is Rs 5,000. The offer closes on August 30.

Sahara Mutual Fund has extended the new fund offer period of Sahara Wealth Plus Fund to August 9.

Franklin Templeton Mutual is to change the asset allocation pattern of Templeton India Children's Asset Plan with effect from September 9. Under the Education Plan of the fund, at least 80 per cent of the assets will be invested in fixed income instruments.

At least 50 per cent of the assets will be invested in equity instruments in the case of the fund's Gift Plan. As this will amount to a change in the fundamental attributes of the fund, investors have been given the option to exit the fund without any load before September 9. The no-load offer will not apply to investments made after August 5.

Chola Mutual has also introduced a Systematic Transfer Plan (STP) facility effective August 8. Amounts can be transferred from Chola Monthly Income plan and Chola Income Plus to Chola Growth Fund, Chola Midcap, Chola Opportunities, Chola Multi-Cap and Chola Global Advantage.

Exit load as applicable on the transferor scheme will be payable for transfer under STP. For the transferee scheme, there will be no entry load; an exit load of 2.25 per cent will be charged if redeemed within a year from the date of transfer.

Mr B. Sashikanth, Vice-President and Portfolio Manager, has ceased to be a part of Franklin Templeton Mutual Fund.

Mr Satish Ramanathan will manage Franklin India Taxshield (FIT) 96, FIT 97, FIT 98 and FIT 99.

(This article was published in the Business Line print edition dated August 7, 2005)
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