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Call of opportunity
Reliance Mutual Fund has launched its dividend opportunities ETF, R* Shares Dividend Opportunities Fund. The fund will invest in stocks that constitute the CNX Dividend Opportunities Index and is open for subscription until April 23, 2014. You need to invest a minimum of ₹5,000 in the scheme. If you want to exit the fund, you can sell the units through the NSE where the fund will be listed. Krishan Daga will manage the fund.
Off with the cap
The limit on the total amount that you can invest has been relaxed on two schemes run by ICICI Prudential Mutual Fund. The trustees of the fund house approved removal of the maximum investment amount per investor for ICICI Prudential Equity – Arbitrage Fund and ICICI Prudential Blended Plan - Plan A with effect from March 25, 2014. The maximum investment in these funds was capped at ₹10 crore until recently.
Change in exit load
Franklin Templeton Mutual Fund has revised the exit load structure for its ultra short-term fund – Franklin India Savings Fund.
If you redeem your investment in the fund within 90 days you may have to forgo 0.5 per cent of the proceeds as exit load beginning April 1, 2014. This is a change from the earlier structure where redemption within seven days attracted an exit load of 0.25 per cent.
Top up systematically
Reliance Mutual Fund has introduced a yearly systematic investment plan facility for its investors effective April 1, 2014. You will have to invest at least ₹5,000 every year, in multiples of ₹500, for a minimum period of two years.
The step-up feature, which allows you to increase your SIP instalment by a desired amount at regular intervals, is available for investors opting for the yearly facility.
It can be done only at yearly intervals and the minimum amount for step-up will be ₹500.
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