Motilal Oswal’s MOSt Focused Midcap 30 Fund has now clarified that it will not invest in stocks with market capitalisation below ₹600 crore, effective from July 9. Besides this, the fund has removed exit loads for redemptions from the fund within a year of investment. Earlier, the fund levied 2 per cent exit load on early redemptions.

New benchmark

Baroda Pioneer Infrastructure Fund has changed its benchmark to the CNX Infrastructure Index from the earlier CNX 100 Index.

Merger

Franklin Templeton will merge the schemes Templeton India GSF – Treasury Plan and the Templeton India GSF – Composite Plan. Unit holders have the option to exit the funds before July 17 without having to pay exit load.

Pay up

Principal PNB has imposed exit loads of 0.5 per cent on its Principal Index Fund Midcap and Principal Index Fund Nifty for redemptions before a year. There was no load earlier.

L&T Triple Ace Bond fund will see exit loads of 1.5 per cent charged on redemptions on or before three months. Earlier, charges were on redemptions made on or before nine months.

But SBI Mutual Fund has reduced the exit load it charges on SBI Dynamic Bond fund, removing the load for the first 10 per cent of the investment. The load will be 0.5 per cent for the remaining investment, if redeemed in less than a year.

More on board

UTI Transportation & Logistics fund will get an additional manager in Daylynn Pinto. Similarly, UTI Children’s Balanced Plan has a second equity manager in Kaushik Basu. Lalit Nambiar will now manage UTI Equity Tax Savings Fund, which was managed by Swati Kulkarni until recently. Amit Premchandani will be the second fund manager for UTI Banking Sector fund.

Dividends ahoy

Investments in mid-cap funds are reaping dividends. Investors of Franklin Prima fund will get a dividend of ₹4 per unit. SBI has declared a dividend of ₹5.7 per unit for its Magnum Global scheme.

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