Fund alerts

ICICI Prudential Mutual Fund has extended the closing date for its Fixed Maturity Plan - Series 74 - 9 Years Plan U. The scheme, which was earlier slated to close on June 12, 2014, will now be open for subscription until June 23, 2014.

Come June 30, 19 funds from the Franklin Templeton Mutual Fund stable will have a new name.

The words, “FT India”, in five schemes − namely Balanced Fund, Dynamic PE Ratio Fund of Funds, Feeder-Franklin US Opportunities Fund, Monthly Income Fund and Life Stage Fund of Funds − will now be replaced with “Franklin India”. For instance, FT India Balanced Fund will now be called Franklin India Balanced Fund. Likewise, the first two words for 11 funds starting with the words, “Templeton India”, including Templeton India Cash and Income Builder Account, will now be replaced with Franklin India.

Now you can choose the financial goal you wish to save for before investing in two of Birla Sunlife Mutual Fund’s schemes − Birla Sun Life Equity Fund and Birla Sun Life Short Term Opportunities Fund (both growth option). Called a milestone facility, this allows you to choose from various financial goals — such as retirement, children’s education, or buying a house — you wish to invest for. You can make investments through a monthly SIP or annual SIP, or opt for a lump sum investment.

In case you opt to redeem it within three years from the time of investment, you need to pay 3 per cent of your investment proceeds as exit load. Redemption made in the subsequent three years will attract 2 per cent load; the exit load on withdrawal over the following three years will be 1 per cent. Changes at the top

Religare Invesco Mutual Fund has announced changes in the fund manager for five of its schemes. Religare Invesco Business Liquid and Ultra Short Term Fund, which were solely managed by Krishna Cheemalapati, will now be jointly managed by the former and Nitish Sikand. Religare Invesco Business Infrastructure Fund, which was jointly managed by Amit Ganantra and Pranav Gokhale, will now be solely managed by the latter. Likewise, Religare Invesco Business Leaders Fund, which was solely managed by Vetri Subramanian, will now be jointly managed by him and Vinay Paharia, while the Growth Fund will now be managed by Vetri Subramaniam and Amit Ganatra.