Posts filed under 'Mutual Funds'
Birla Sun Life Mutual Fund has announced that it will be mergerging Birla Sun Life Basic Industries Fund into Birla Sun Life Infrastructure Fund. Similarly, Birla Sun Life Freedom Fund will be merged into Birla Sun Life 95 Fund. The merger will be effective October 21, 2011.
Investors of Birla Sun Life Basic Industries Fund and Freedom Fund have the exit option from September 22, 2011 to October 21, 2011. They do not have to pay any exit load during this period.
Average Assets under management for the quarter April - June 2011 (Rs. in Lakhs)
Birla Sun Life Basic Industries Fund-Plan A(Dividend): 6585.09
Birla Sun Life Basic Industries Fund-Plan B(Growth): 3231.04
Birla Sun Life Infrastructure Fund-Dividend: 19964.41
Birla Sun Life Infrastructure Fund-Growth: 22684.15
Birla Sun Life Freedom Fund-Plan A (Dividend): 4915.93
Birla Sun Life Freedom Fund-Plan B (Growth): 2981.32
Birla Sun Life 95 Fund-Plan A (Dividend): 21741.86
Birla Sun Life 95 Fund-Plan B(Growth): 20313.51
September 20th, 2011
Union KBC Equity Fund had a marginal dip in the Average Assets Under Management (AAUM) during the month of August 2011 from Rs. 160.44 crores in July 2011 to Rs. 143.48 crores. Of course, the global turmoil could be one of the many reasons for this fall. The expenses ratio has moved from 2.40% YTD to 2.41% YTD.
Top 5 holdings include Infosys (5.63%), ICICI Bank (5.56%), Reliance Industries (5.37%), TCS (4.35%) and L&T (4.32%).
The scheme has added / increased three stocks in its portfolio: TVS Motor Company, Nestle India, eClerx Services Software and Motherson Sumi Systems.
NAV of the the Growth option as of August 30, 2011 is Rs. 9.12 compared to Rs. 9.95 on July 29, 2011.
September 13th, 2011
Peerless Mutual Fund has brought the first pre-dominant equity mutual fund scheme called the Peerless Equity Fund. This is the sixth scheme from the fund house.
Investment Objective
Peerless Equity Fund will be a multi-cap diversified equity fund and its portfolio will have an optimal blend of large, mid and small cap stocks. The primary investment objective is to generate long term capital appreciation by investing in an actively managed portfolio predominantly consisting of equity and equity related securities diversified over various sectors.
Asset Allocation Pattern
The scheme will invest between 80 to 100% in equity and equity related securities and up to 20% in debt and money market securities. Up to 50% of the net assets would be put in Derivatives for the purpose of hedging, portfolio balancing and such other purposes as may be required from time to time.
Investment Strategy
The investments would not have any industry, sector or market capitalization bias. The strategy would be to invest in stocks and sectors that seem attractive, exhibit strong growth or have the potential for strong growth in the medium to long term. The fund manager would follow a strategy which will be a combination of top-down and bottom-up approach.
Systematic Investment Plan
Monthly SIP
Minimum 12 Instalments (including first cheque) of Rs. 500 or in multiples of Rs. 100
Quarterly SIP
Minimum 4 Instalments (including first cheque) of Rs. 1000 or in multiples of Rs. 100
Half-yearly SIP
Minimum 2 Instalments (including first cheque) of Rs. 2000 or in multiples of Rs. 100
Default SIP Options
Monthly SIP with the default date of 7th of every month / quarter / half-year
SIP Dates
1, 7, 10, 15, 20, 25th of every month
Fund Manager
Mr. Kaushik Dani will be the fund manager for the scheme. He is a commerce graduate and an MBA in finance with more than 13 years of experience. Prior to this, he has worked with K. R. Choksey Shares & Securities Pvt. Ltd., Birla SunLife, Sharekhan, SG Asia Securities (India) Pvt. Ltd. and Motilal Oswal Securities Ltd.
Mr. Kaushik Dani also manages the equity investments for Peerless Income Plus and Peerless MF Child.
Fund House
Peerless Mutual Fund is a recent entrant in the industry. It launched its first fund in February 2010. The fund house has an Average Assets Under Management (AAUM) of Rs. 5890 crores as of July 2011.
Basic Details
NFO Opens: September 7, 2011
NFO Closes: September 21, 2011
NFO Price: Rs.10
Options: Growth and Dividend (pay out and re-investment)
Minimum Application Amount: Rs.1000
Exit Load: 1% if redeemed/switched-out on or before 1 year and NIL on or after 1 year
Benchmark: S&P CNX Nifty
Fund Managers: Mr. Kaushik Dani and Mr. Ganti N. Murthy
September 10th, 2011
ICICI Pru Dynamic has announced August 30, 2011 as the record date for the distribution of dividend of Rs. 0.50 per unit.
The Value Research 4-star rated fund is a conservative equity opportunities fund and is well suitable for investors who can invest for 3 years and beyond. Sanjay Parekh is managing this fund since February 2011. The AAUM is at Rs. 3814.40 crores as of June 30, 2011. The Annual Portfolio Turnover Ratio : 1.17 times.
ICICI Prudential Dynamic Plan last announced a dividend of Rs. 1 per unit on February 25, 2011. Earlier to that it was on August 20, 2010 when it announced a Rs. 1 per unit dividend.
August 25th, 2011
Stock markets around the globe took a relief after an almost a fortnight of turmoil due to global economic factors turning sour. The stock markets right from Asia Pacific to US have closed in the green albeit the relief is too small and too early to call it a U-turn.
The BSE Sensex closed the day at 16341.70 gaining 200.03 while Nifty closed the day at 4898.80 gaining 53.15 points in trades today. Almost all sectoral indices except for the Bankex and BSE IT have closed in the green. IT stock, some experts believe, have still some downside left considering there is no clear signs of order pull backs from US companies. Banks, of course, have their inherent problems and their stocks are showing the signs.
Top gainers include ADAG stocks Reliance Comm, Reliance Infra and SAIL (all three up over 6%), IDFC and Jaiprakash Asso (both up 5%) and ONGC, Bajaj Auto, Wipro, Rel Capital, Tata Power, Hindalco, Tata Motors, Reliance and Jindal Steel (all up over 3%). Market experts believe the upward pull back by Reliance Communications and Reliance Infra is largely because of short covering and that the inherent problems in ADAG stocks still are to be addressed so as to win investor confidence and hence the upward move is short term knee jerk reaction.
Top losers of the day include GAIL (down over 3%), DLF (down over 2%) and Axis Bank, HDFC Bank, Infosys, HCL Tech, TCS, PNB, Sesa Goa and Cairn India (all down 1%).
Gold touched a new record high of $1,912.09 an ounce.
The Indian Income Tax Department has served a draft tax demand of Rs 2,114 crore on Mahindra Satyam (BSE: 500376; NSE: SATYAMCOMP; ISIN: INE275A01028) after it has disallowed exemptions claimed by the company. The demand was for Rs 1,037.69 crore and Rs 1,075.73 crore for assessment years 2002-03 and 2007-08, respectively. The company said that the notice however does not exclude fictitious income wrongly offered to tax by the earlier management and hence the company is likely to challenge the same.
GVK Power and Infrastructure (BSE: 532708; NSE: GVKPIL; ISIN: INE251H01024) has increased its stake in Bangalore International Airport Ltd (BIAL) by acquiring an additional 14% share from Siemens Project Ventures. With this, the total stake of GVKPIL in BIAL increases to 43%. It may be recalled GVK, in 2009, had acquired 17% stake from Larsen and Toubro (L&T) for Rs 686 crore and 12% from Zurich Airport for Rs 484.6 crore. The script last traded at 17.40 up 0.30 or 1.75%.
SEBI has notifies its decision of transaction charges on Mutual Fund folios. There will be a charge of Rs 100 per subscription of over Rs 10,000 and charge of Rs 150 for a first time MF investor.
August 22nd, 2011
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