Posts filed under 'Birla Sun Life Mutual Fund'
Birla Sun Life Mutual Fund announced a dividend for the Birla Midcap Fund. The dividend is 60% i.e Rs. 6 on the face value of Rs. 10 per unit. The record date for the dividend is December 28, 2007.
Birla Midcap Fund is an open ended fund launched in October 2002. The Year to Date returns till December 24, 2007 is 67.72 as agaist to the category average of 52.64. The fund’s NAV is at Rs. 38.86 and manages Net Assets of Rs. 659.13 Crores (as of November 30, 07).
The Scheme’s objectives are: The fund’s investment objective is long term growth of capital at controlled level of risk by investing primarily in ‘Mid-Cap’ Stocks. The level of risk is somewhat higher than a fund focused on large and liquid stocks. Concomitantly, the aim is to generate higher returns than a fund focused on large and liquid stocks.
Top Equity investments of the fund include Solar Explosives, Raymond, United Breweries, Bharat Bijlee and Jindal Steel & Power. The fund has a reasonable amount in diversified stocks followed by Financial Services, Metals & Metal Products, Construction and Basic/Engineering.
The earlier dividends of the fund are:
December 22, 2006: Rs. 3.5
February 6 2006: Rs. 2
December 25th, 2007
Capital Protection Funds are the latest in-thing in the mutual fund industry now. Birla SunLife Mutual Fund has come up with Birla Sun Life Capital Protection Oriented Fund which is in NFO.
The Fund house has made an announcement recently that the investors will now have time til July 13, 2007 (instead of the earlier July 6, 2007) to make investments under NFO.
Lotus India Growth Fund from Lotus India AMC
Continuing its spree in launching new funds, Lotus India AMC has recently announced the launch of Lotus India Growth Fund. This fund will be an open-ended diversified equity scheme. The NFO is from July 9, 2007 to July 19, 2007. The fund will be open for continuous purchase from August 4, 2007.
The investment objective of the fund is to generate long-term growth of capital by investing in a diversified portfolio of predominantly equity and equity-related securities. The fund invest 65-100% in equity and equity related instruments and 0-35% in debt and money market instruments.
July 10th, 2007
This might be a bit old news but Birla Sunlife Mutual Fund has changed its exit load structure for its Equity schemes - Birla Sun Life Equity Fund, Birla Sun Life Frontline Equity Fund, Birla Mid Cap Fund, Birla Sun Life’95, Birla India Genext Fund and Birla Top 100 Fund.
As per the new structure, there will be an exit load of 0.5% for investments that are less than six months old on investments that are less than Rs. 5 crores. The entry loads remain unchanged.
This move is may be to ensure that investors does not keep moving out of funds. This gives the fund manager to invest in the stocks and hold them for sometime before returns keep coming.
July 4th, 2007
After a series of Fixed Income Funds, it seems International Equity funds is the latest craze these days. Fidelity has recently launched an new International Fund while ABN AMRO has filed for draft offer document for its coming Chindia Fund. Following the suite closely is Birla Sunlife that has filed offered document for its upcoming International Equity Fund.
The new fund has put its primary objective as “to generate long –term growth of capital by investing predominantly in a diversified portfolio of equity and equity related securities in the domestic international markets.”
The minimum investment is Rs. 5000 on application and Rs. 1 from there on.
June 17th, 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
Previous Posts