Draft offer documents for the following mutual fund schemes are submitted and are put for public view and commenting:
Birla Sun Life Equity Linked FMP - Series I-M
ING Annual FMP Fund
JP Morgan India Tax Advantage Fund
UTI Short Term FMP - Series II
Add commentSeptember 11th, 2008
India is undoubtedly one of the best places to invest money. Needless to say, there has been a recent uptrend in the number of fund houses starting their operations as well as the money flowing into mutual funds besides the increase in the number of investors themselves.
To be on the safe side, most investors opt for SIP or Systematic Investment Plan. This is an ideal mode of investment for investors who have a regular flow of money (say salaried people) who can be sure that by a given specific date, they are sure of having their money (salary) in their bank account. A simple instruction to the fund house and the bank will help them invest regularly on a given time and hence stay away from the uptrend or the downtrend of the markets.
One catch with the SIP plans is that none of the 30+ strong Indian mutual fund houses have a SIP that invests money on a daily basis. There are two options available now, of course.
The first is from the ING Vysya Mutual Fund who launched a feature called ING Zoom Investment Pac (ZIP) in which a lump sum money is invested in one of their ING Vysya Liquid Fund and then money is transferred to one of their allowed equity schemes. Though this is not exactly a Daily SIP per se considering that the investor has put in his money at a single go (into the liquid fund), it serves the purpose to a certain extent by allowing the investor to invest on a daily basis in the equities. The actual money put in the Liquid fund will be safe considering debt and related instruments are safer than equities.
The latest Daily SIP facility is from Bharti AXA Mutual Fund. Investors may be recall Bharti AXA has come up with a new fund scheme called the Bharti AXA Equity Fund (NFO Period: September 4, 2008 to October 1, 2008; Scheme re-opens for continues sale and re-purchase from October 29, 2008). Bharti AXA is offering Daily SIP for investors in this fund who are having a bank account with HDFC Bank, Axis Bank or with Bank of Baroda (Core banking branches). Bharti AXA seems to be planning to expand this offering to other banks too. So, if you have an account with any of these banks and would like to do a Daily SIP Investment, Bharti AXA Equity Fund is the only fund available for the investors at the moment.
The minimum SIP amount for a Daily SIP is Rs. 300 (per day). The minimum period is for 6 months. Hence the SIP amount for the 6 month period works out to Rs. 300 day x 6 months x 25 days (considering we will have 25 trading days in a month on an average) = Rs. 45000.
This option is also a good choice for an investor who wishes to do a SIP for more than Rs. 7500 a month. Instead of investing at Rs. 7500 on a single investment, it would be good to go for a Daily SIP (Rs. 300 per day x 25 trading days per month (approx) = Rs. 7500)
Daily SIP offers rupee cost averaging on a daily basis and hence is considered as a good choice for investors who want to invest their money on a daily basis and yet put their investment decisions in the hands of experts.
2 commentsSeptember 7th, 2008
ING Vysya Mutual Fund has come up with a new NFO - the ING Latin America Equity Fund. The NFO opened on July 10, 2008 and will close on July 18, 2008. The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in ING (L) Invest Latin America Fund. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized.
Add commentJuly 11th, 2008
ING Vyasa Mutual Fund has announced a dividend of Rs.3.50 on the face value of Rs.10 per unit for OptiMix Income Growth Multi Manager FOF Scheme (OIG) 15% Equity Plan & 30% Equity Plan (Option A). The record date for payment of the dividend is set as January 25, 2007 after which the NAV of the fund will fall to the extent of dividend payout and statutory levy as may.
Add commentJanuary 22nd, 2007
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| « Feb | ||||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | 31 | ||||