Archive for March 7th, 2007
ABN AMRO Asset Management has come up with NFO for its ABN AMRO Sustainable Development Fund. The fund is a 3-year close ended fund which would get automatically converted into an open ended fund after the 3 year maturity period.
The investment objective of the fund is as follows:
The investment objective is to generate long-term capital growth from an actively managed portfolio of equity and equity related securities primarily of the Socially Responsible Companies focusing on Sustainable Development. The Scheme will aim to identify investment opportunities in companies across all ranges of market-capitalization, defined as “Socially Responsible Companies”.
The NFO opens on March 05, 2007 and closes on March 30, 2007
The minimum application amount is Rs. 5000 and in multiples of Re.1 thereafter.
Since this is a close ended fund, there will be no entry load and exit load is applicable if redeemed before maturity period.
As per the product details on ABN AMRO website, “the Regular Plan offers Growth Option and Dividend Option. The Dividend Option offers Dividend Payout and Dividend Re-investment facilities. The Dividend Option will have monthly frequency. However, it may be noted that the actual declaration of dividend under the Dividend Option will be subject to the availability of distributable surplus as computed in accordance with the SEBI Regulations and discretion of the Trustees/ AMC.”
March 7th, 2007
The following is a list of draft offer documents for various mutual funds schemes that are submitted to SEBI recently which are made online for public viewing and commenting on March 6, 2007
ABN Amro Fixex Term Plan Series 7
Birla Fixed Term Plan Monthly Series 1, 2, 3
Franklin Templeton Fixed Tenure Fund - Series VII(I-60 months Plan
Lotus India Fixed Maturity Plan - 3 months - Series VII
Lotus India Fixed Maturity Plan - 3 months - Series VIII
March 7th, 2007
It seems that mutual Fund houses are now marketing their fixed maturity plans more than any other type of fund during this season. With the ELSS market getting over in few days, fund houses are taking advantage of long term capital gains concept to get more investors into hold biting the bank fixed deposits share.
Of the 12 draft offer documents filed before SEBI between March 1 – 6, 2007, only 1 is an equity scheme while all others are variants of fixed maturity plans.
On the other hand bank fixed deposits too are getting more attractive and gaining attention these days. Rate of interests close to 10% are now available from almost all banks. And with returns from select fixed deposit schemes getting Income Tax exemptions, more deposits are getting ready to put their money into bank fixed deposits by way of debt or deposits instead of equities.
March 7th, 2007
Indian stock markets, following the trend of the Asian and Pacific markets have opened in green. NIFTY is currently at 3702.95 as against its previous closure of 3655.65 and is about 1% up.
Early gainers on Nifty are MTNL, L&T, Reliance Communications, HDFC Bank, Jet Airways, IPCL, Dr. Reddy, Tata Motors, Wipro and Satyam Computers.
Top losers in the trades at opening time are Gujarat Ambhuja Cements, ACC, GAIL, OBC, PNB, Glaxo, Sun Pharma and ONGC
March 7th, 2007
The American markets closed in positive yesterday. Crude oil prices too are on a positive note. Asian markets are trading in green at the moment. Are these enough signs that the markets are back to normalcy? We are sure this is a question that is pondering in the minds of many Indian traders.
A group of experts and market analysts say that though the outlook of the Indian markets is positive on a long term, the recent global meltdown might not be over and suggests stock traders to remain cautious. They suggest traders to wait for two to three trading sessions to confirm if the global troubles are over.
March 7th, 2007
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