Mutual Funds

Go global

| Updated on April 20, 2014

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Want to diversify your investment beyond India? Here’s one fund to help you achieve this. Religare Invesco has launched its Religare Invesco Global Equity Income Fund. This open-ended fund will invest in the units of Invesco Global Equity Income Fund, a Luxembourg-domiciled fund that invests primarily in the equities of global companies with assets of over $525 million. The fund will be open for subscription until April 28, 2014. Its performance will be benchmarked to MSCI World Index- Net Dividend. If you redeem your investments before 18 months from the time of investment, you will forego 1 per cent of your investment.

Going short

Canara Robeco Short Term Fund has notified a change in its asset allocation. It can now allocate an additional 5 per cent in money market securities. The scheme can now invest between 65 and 100 per cent of its assets in money market securities with maturity of up to two years and the balance 0-35 per cent in debt securities with maturity of up to five years. This is a change from the erstwhile limit of 60 to 100 per cent in money market securities.

Raining hybrid funds

With the economy expected to revive and interest rates likely to head south in the medium term, fund houses are betting on the debt-equity combo. Eight hybrid schemes launched are currently open for subscription. They include Axis Hybrid Fund Series 11, DWS Hybrid Fixed Term Series 21, HSBC Managed Solutions India, Reliance Dual Advantage Fixed Tenure Fund V Plan G and Sundaram Hybrid Series H.

These schemes will invest a major portion of their assets in fixed income securities, which can cushion against volatility in the equity markets.

Small is beautiful

L&T Mutual Fund will launch its small-cap fund this week. Named L&T Emerging Businesses Fund, the scheme will invest at least 50 per cent of its assets in small caps. You need to stay invested for a minimum two years in the scheme. The fund will be managed by SN Lahiri, Rajesh Pherwani and Abhijeet Dakshikar and is open for subscription until May 6, 2014.

Its performance will be benchmarked to the BSE Small Cap Index.

Published on April 20, 2014

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