Following L&T, Edelweiss and Axis Mutual Fund, Deutsche MF has come out with an arbitrage fund. The scheme intends to generate income by investing in arbitrage opportunities that potentially exist between cash and derivatives markets. The new fund offer is open between August 13 and August 22.

Change in exit load

Religare Invesco MF has changed the exit load structure for its open-ended Active Income fund. The exit load of 1 per cent is payable if you choose to redeem or switch over on or before 90 days from the date of allotment. However, no exit load is payable if the same is done after 90 days. Tata Mutual Fund, too, has revised the exit load of its Tata Gilt Mid Term fund to 2 per cent if redeemed within 365 days, 1 per cent between 365 and 730 days, and 0.50 per cent for redemptions in 730-1,095 days.

Trigger facility

You can now use the trigger facility to switch investments from ICICI Prudential’s Target Returns Fund to another pre-selected debt scheme once the fund’s NAV reaches the trigger level.

The switch will be triggered once the fund’s NAV increases by 50 per cent. The revised exit load will be 1 per cent for redemption made within 18 months from the allotment date.

Half-yearly dividend

ICICI MF has introduced a half-yearly dividend option for three funds: Blended Plan B, Banking and PSU Debt Fund and its Ultra Short Term Plan. You can either opt for a dividend payout or reinvestment in any of these plans, thanks to the new option.

Change in fund manager

Vikas Agarwal will now manage JM Short Term Fund, JM Income Fund, JM G-Sec Fund, and JM Fixed Maturity Fund – Series XXIV-Plan C and Series XXV – Plan A.

Cancellation of registration

Following the acquisition of Morgan Stanley MF’s assets by HDFC Mutual Fund, market watchdog SEBI has cancelled Morgan Stanley MF’s registration. HDFC MF acquired eight schemes from Morgan Stanley with assets worth about ₹3,000 crore in December last year.

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