AIG Investment has announced a revision in the Entry and Exit Load of its mutual fund schemes. There will be an entry load of 2.25 and 1 percent exit load if redeemed within 1 year from the date of allotment for its schemes AIG India Equity Fund, AIG Infrastructure and Economic Reform Fund and AIG World Gold Fund for SIP and STP investments.
Add commentMay 16th, 2008
So, the announcement is finally made. AIG Global Investment Group Mutual Fund has announced its first mutual fund for the Indian investors. AIG India Equity Fund will be an open ended diversified equity fund with 80%-100% for equity investment and a maximum 20% for debt.
AIG India Equity Fund will be in NFO from May 3, 2007 and closes on May 31, 2007. Cost of unit during NFO will be Rs. 10
The fund will take BSE 100 as its benchmark. The usual Growth, Dividend Payout and Dividend Reinvestment options are available.
Tushar Pradhan will be the CIO - Equities while Ravi Mehrotra is the Managing Director.
Add commentApril 26th, 2007
Time is important and no fund house is ready to loose it. AIG Global Investment Group Mutual Fund, just within few days of getting the approval from SEBI, has filed draft document for AIG India Equity Fund. The draft document is dated February 15, 2007.
The fund comes into two plans: Regular Plan and Institutional Plan. The AIG Equity Plan takes BSE 100 index as its benchmark index.
The investment objective of the fund is “to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives”. Equity and equity related securities would go from 80% to 100% while Debt & money market securities/instruments/funds ranges from 0% to 20%
The offer document says the portfolio in each of the plans will be the same but the returns differs because of the variation in the expense ratio. The initial investment at the time of application can be a minimum of Rs. 5000. In the case of purchases through SIP and STP, the minimum installment amount shall be Rs. 1,000/-.
Add commentFebruary 19th, 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.
Add commentFebruary 14th, 2007
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