Archive for February 14th, 2007
BSE Press Release
Value of deals reported on ICDM on 14th FEB , 07 , through ICDM System as well as Internet portal is = Rs.131.85Crs.
Total Number of deals : 74
Please find hereinbelow data on F&O turnover (one sided) for the trade date 14 February 2007 .
1.) Sensex Futures = Rs. 665.94 crores.
2.) Reliance Futures = Rs. 51.90 crores.
3.) IDBI Futures = Rs. 5.81 crores.
4.) Total F&O Turnover = Rs. 723.80 crores.
All the above values represent one sided turnover.
February 14th, 2007
Media sources says that the American International Group, Inc.’s AIG Global Asset Management Company (India) Pvt. Ltd. has got the regulatory approval from the Securities and Exchange Board of India (SEBI). The approval allows the AIG to start asset management and mutual funds business in India. The top management of the company which looks after the operations is also released.
The Indian Mutual Funds market is really hot and looks very lucrative for many global asset management companies. Only few days back Standard Chartered AMC was acquired by the UBS AG while Shinsei Bank tied up with Andhra Bank to enter Indian Mutual Fund market. Many other AMCs are in various stages of their plans to enter into the mutual fund market and are in the process of getting the necessary regulatory approvals.
February 14th, 2007
ING Vysya Mutual Fund has filed draft offer documents for its upcoming OptiMix Equity Multi Manager FoF Scheme Series II. The full will be a close-ended Fund of Fund Scheme.
The primary objective of the Scheme is to generate long term capital appreciation from a portfolio of equity funds accessed through the diversified investment styles of underlying schemes selected in accordance with the OptiMix Multi Manager investment process.
The scheme will be a close ended scheme for a period of 3 years from the date of allotment. During the NFO, the units will be offered at the face value of Rs.10 per unit. The minimum application amount under the scheme shall be Rs 5,000/- and in multiples of Re1/- thereafter.
The scheme would put in Equity funds (65%-100%), Debt funds, liquid funds, money market funds (0%-35%) and Money Market Securities (0%-10%)
February 14th, 2007
The NIFTY closed at 4047.10 with the bulls taking over the bears in the final hours of trade. With the damage already have been done, many of the stocks continued to be in the dull state that they are in.
Banking stocks continue to be the worst hit today. In fact, the advance - declines ratio of Bank Nifty is at a mere 1 to 11. Only UTI Bank remained in green amongst the banking stocks.
February 14th, 2007
More mutual funds begins to race into the Gold ETF market. After Benchmark, UTI Mutual Fund, Kotak Mutual Fund, Prudential ICICI, Tata Mutual Fund and Escorts, the latest entrant expressing interest in launching a Gold Exchange Traded Fund (GETF) is Birla Sun Life Mutual Fund.
Birla Sunlife MF filed a draft offer document before SEBI for its upcoming Open ended Exchange Traded Scheme titled Birla Sun Life Gold Exchange Traded Fund. Investment objective of this fund is to endeavor to provide returns that, before expenses, closely track the performance and yield of Gold or Gold related instruments subject to tracking errors.
Flexibility is one area that this scheme is featuring a lot. According to the document filed, The Mutual Fund will allow investors the flexibility to switch their investments from any other scheme(s) / plans offered by the Mutual Birla Sun Life Gold Exchange Traded Fund 4 investments from any other scheme(s) / plans offered by the Mutual Fund to Birla Sun Life Gold Exchange Traded Fund (subject to completion of lock-in period, if any, of the units of the scheme(s) from where the units are being switched) during the NFO period and on ongoing basis thereafter.
The Minimum Application Amount during the NFO period is Rs. 5,000/ - and in multiples of Re. 1/- thereafter during the NFO
period. The Minimum Application Amount on Ongoing basis is Rs. 500/ - and in multiples of Re. 1/ - thereafter.
In regard to the load structures, the Entry Load is as follows:
For purchases/ switch – in of units upto Rs. 10 Lacs: 3%
For purchases/ switch – in of units greater than Rs. 10
Lacs but upto Rs. 1 crore: 1.50%
For purchases/ switch – in of units greater than Rs. 1
crore but upto Rs. 5 crores: 0.25%
For purchases/ switch – in of units greater than Rs. 5 crores: Nil
The Exit Load will be as follows:
Not exceeding: 0.50%.
However, the Trustee shall have a right to prescribe or modify the load
structure with prospective effect subject to a maximum prescribed
under the Regulations.
February 14th, 2007
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