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The country’s fourth largest mutual fund house Birla Sun Life Mutual Fund is set to acquire all the schemes of ING Mutual Fund, according to sources in the former. ING had assets of over ₹564 crore at the end of March 2014. Other fund houses that evaluated ING include L&T Mutual Fund, Axis Mutual Fund, BNP Paribas Mutual Fund and Pramerica Mutual Fund.
Protecting capital
With interest rates expected to head south in the medium term, it may be a good time to consider investment in capital protection-oriented schemes. HDFC Mutual Fund’s HDFC CPO Series II 36M May 2014 is open for subscription. Investment in this 36-month close-ended fund can be redeemed only at the end of the third year. However, should you need funds to meet any exigency, you can sell the units through the BSE or the NSE. The debt portion of the fund will be managed by Anil Bamboli and the equity portion by Vinay R Kulkarni. The last date for investing is May 30.
Long-term bet
Reliance Mutual Fund has unveiled a new five-year, close-ended scheme – Reliance Close Ended Equity Fund II Series A. The fund will invest across large-, mid- and small-cap stocks. Up to 10 per cent of the scheme’s total assets can be invested in unlisted securities (such as pre-IPO). Its performance will be benchmarked to the BSE 200 Index. Sailesh Raj Bhan and Jahnvee Shah will manage the fund. Interested in investing? Decide before May 23.
Changes at the top
Deutsche Mutual Fund has announced change in fund managers for three of its fixed income schemes. DWS Gilt, DWS Premier Bond and DWS Medium Term Income Fund, which were jointly managed by Kumaresh Ramakrishnan and Nitish Gupta, are now solely managed by Kumaresh Ramakrishnan.
You get more time
Birla Sun Life Mutual Fund has extended the closing date for its fixed term plan - Birla Sun Life FTP Series LL until May 21. With the duration of 733 days, the fund seeks to invest 70-100 per cent of its assets in debt instruments rated AA and above. It will not invest in companies in the airlines and gems and jewellery space. The fund will be managed by Kaustubh Gupta and its performance will be benchmarked to the CRISIL Short Term Bond Fund Index.
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