Axis Mutual Fund has announced the introduction of Systematic Withdrawal Plan (SWP) under Axis Equity Fund, Axis Income Saver and Axis Triple Advantage Fund. The facility will be available with effect from July 21, 2010 for Axis Equity Fund and Axis Income Saver and August 28, 2010 for Axis Triple Advantage Fund. There are many [...]
Canara Robeco Mutual Fund has announced the revision of exit load structure for its Canara Robeco Floating Rate Fund. The changes will be effective from July 19, 2010. As per these changes, the exit load which remained nil for the scheme has been revised to 0.25% of the applicable Net Asset Value (NAV), if the [...]
Fund houses may soon have to stop charging variable fees, a move that could benefit retail investors The Securities and Exchange Board of India, or Sebi, is set to ban asset management companies (AMCs) from launching multiple investment plans catering separately to different classes of investors under a single scheme, in a move that could [...]
Effective July 7, 2010, ICICI Prudential Mutual Fund has revised the exit load under ICICI Prudential Nifty Junior Index Fund under all the options of the scheme including SIP, STP and SWP. Earlier the exit load used to be 0.25% if redeemed within 7 days from the date of allotment. Now, it will be 1% [...]
Taurus Mutual Fund has launched a new fund as Taurus Nifty Index Fund, an open ended index linked equity scheme. The objective of the scheme will replicate the S&P CNX Nifty Index by investing in the securities of S&P CNX Nifty Index in the same proportion/weightage. The New Fund Offer (NFO) will open for subscription [...]
IDFC Mutual Fund has launched IDFC Capital Protection Oriented Fund – Series II, a 3 years close ended income scheme. The investment objective of the scheme is to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments [...]
Peerless Funds Management Company Ltd (PFMCL) has announced the commencement of its mutual fund operations. PFMCL is a wholly-owned subsidiary of Kolkata-based Peerless General Finance & Investment Company, which is a leading non-banking financial company (NBFC) with branches across India. PFMCL is the first financial services company in Eastern India to have received the Securities [...]
Edelweiss Mutual Fund has launched Edelweiss Income Advantage Fund, a new open-ended income scheme. The value of the scheme is Rs 10 per unit. The new fund offer has opened for subscription from February 10, 2010 and will close on February 17, 2010. The scheme will allocate 80% to 100% of assets in debt and [...]
IDFC Mutual Fund has introduced the Daily Systematic Investment Plan under all the schemes in which SIP facility is available, effective February 1, 2010. Features: Transaction will be processed only on business day. Their will be 6 number of minimum installments.
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SEBI circular: Better transparency with different investor friendly measures
The market regulator Securities and Exchange Board of India (SEBI) in its bid to bring down the time frame involved in all primary market issuances and some other measures related with Applications supported by Blocked Amount (ASBA) and brokerage commission paid to associates issued a circular on March 15, 2010. As per Regulation 25 (8) [...]