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HDFC Corporate Debt Opportunities Fund has made changes to the exit load. Redemption of investment after 12 months but before 24 months from the time of investment will now attract an exit load of 1 per cent. Earlier, an exit load of 1 per cent was applicable to withdrawals after 12 months but before 18 months from the date of investment. The exit load for withdrawals within a year is unchanged at 2 per cent. You will have to stay put for a minimum two years if you wish to redeem your investment without paying exit load.
Top-level shuffle
Canara Robeco Mutual Fund has announced changes in fund managers for nine of its fixed income schemes. Canara Robeco Gilt PGS Fund and Income Fund, which were managed by Akhil Mittal until recently, are now managed by Avnish Jain. Likewise, four schemes, including Canara Robeco Liquid Fund and Gilt Fund which were jointly managed by Akhil Mittal and Suman Prasad, will now be managed by the latter jointly with Avnish Jain. Similarly, Dynamic Bond Fund and Short Term Fund will now be managed by Avnish Jain and Suman Prasad, respectively.
Some more time
Franklin Templeton Mutual Fund has extended the last date for existing investors to redeem investments in Templeton India Government Securities Fund – Treasury and Composite Plan following the merger of the former into the latter. In case you are not happy with the merger, you can withdraw the investment in these funds on or before July 24.
A short-term option
Looking to lock in your funds for less than a year? Axis Mutual Fund's Fixed Income Opportunities Fund aims at generating stable returns in the short to medium term. The fund will invest in debt and money market instruments across the yield curve and credit rating range. It will invest a minimum of 20 per cent in securities rated below AAA (highest safety). Exposure to companies in one particular sector will not exceed 30 per cent. The scheme’s performance will be benchmarked to Crisil Short Term Bond Fund Index and the scheme will be managed by Devang Shah and Kedar Karnik.
If you wish to lock in a portion of your surplus at par value (₹10 a unit) apply before July 9. However, the scheme will re-open for purchase and redemption on July 21.
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