Posts filed under 'Fund Houses & AMCs'
SBI Mutual Fund has made some changes in its fund management team. Effective June 27, 2011, R Srinivasan will be Head, Equities, Rajeev Radhakrishnan is Head, Fixed Income and Nidhi Chawla is dedicated fund manager for investing in foreign securities.
The updated list of fund managers will be as follows:
Magnum Contra - R Srinivasan
SBI Infrastructure - Series I - Ajit Dange
Magnum FMCG - Saurabh Pant
Magnum Pharma - Tanmaya Desai
Magnum IT - Anup Upadhyay
Magnum MIP - Ruchit Mehta
Magnum Income Plus - Investment - Ruchit Mehta
Magnum MIP - Floater - Ruchit Mehta & Dinesh Ahuja (Debt Portion)
June 29th, 2011
Global restructuring of various financial corporations in the recent past have brought about many changes in the organizations and their owners. Because of restructuring in the global Fortis group, the Fortis Investment Management now became a part of BNP Paribas.
Because of this, Fortis Mutual Fund was renamed as BNP Paribas Mutual Fund and the AMC will be renamed as BNP Paribas Asset Management India Pvt. Ltd. The change in the names, along with the change in scheme names will become effective October 19, 2010.
It may be recalled that BNP Paribas also has a joint venture with Sundaram Finance Ltd. for the mutual fund business in India where BNP Paribas holds a 49.9 per cent stake. Sundaram BNP Paribas Mutual Fund is now renamed as Sundaram Mutual Fund effective October 12, 2010.
October 19th, 2010
Unit holders of Principal Emerging Bluechip Fund Dividend Option will get a dividend of 10% or Rs. 1 per unit. October 15, 2010 is the record date for the declaration of dividend.
Opened in November 2008, the Principal Emerging Bluechip Fund is an open ended equity scheme. Its investment objective is - “To achieve long-term capital appreciation by investing in equity & equity related instruments of Mid Cap & Small Cap companies”. It is being managed by PVK Mohan since May 2010.
As of August 31, 2010, the scheme had Rs. 313.87 crore as Assets Under Management. Asian Paints, Tata Motors, Hindustan Petroleum Corporation, Lupin, Sun TV, Union Bank of India, Rural Electrification Corporation, Crompton Greaves, TVS Motors and Sintex Industries are its top 10 holdings.
The scheme had Banks (10.65%), Pharmaceuticals (9.44%), Consumer Non Durables (8.95%) and Financials (8.34%) in its top sector allocations.
The previous dividend announcement in this scheme was on July 19, 2009 of Rs. 4 per unit.
October 12th, 2010
Sahara Mutual Fund has announced a dividend of Rs. 4 per unit dividend under Sahara Wealth Plus. October 5, 2010 is the record date.
NAV of Sahara Wealth Plus Fund as on 29/09/2010 is Rs. 22.6938 under Fixed Pricing Dividend option and Rs. 23.5222 under Variable Pricing Dividend Option.
As of August 31, 2010, the scheme had an AUM of Rs. 1023.26 lakhs.
The Top 10 scripts holding is at 32.31% of the fund.
The fund is Value Research 4 Star Rated.
October 3rd, 2010
Yet another development in the Indian Asset Management industry. LIC Mutual Fund now becomes LIC Nomura Mutual Fund.
Life Insurance Corporation of India (LIC) holds 65% of the total paid up equity share capital and will continue as the sole sponsor of the fund. Nomura will hold the remaining 35%. Because of this development, the trustee company will be named as LIC Nomura Mutual Fund Trustee Company Pvt Ltd. This also means that the names of the schemes that are currently prefixed with LIC MF will be called as LIC Nomura MF.
July 28th, 2010
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