Latest Indian Mutual Fund News | 26-Apr-2011


1.IDFC MF Declares Dividend for Small & Midcap Equity Fund.


IDFC Mutual Fund has announced the declaration of dividend under dividend option of IDFC Small & Midcap Equity Fund (open ended equity fund). The record date for dividend has been fixed as 29 April 2011. The quantum of dividend will be Rs 1.50 per unit.

News Source – NAV INDIA.


2.Foreign MFs score better in garnering assets.


Foreign players control a little over 10 per cent of the domestic fund market. Foreign fund houses outperformed their domestic peers in terms of garnering assets in 2010-11. In a year that saw the industry’s assets decline by over six per cent, foreign players saw a marginal slip of 1.7 per cent. On the other hand, local players were beaten harder as they lost over seven per cent of assets. This is in contrast with the dominant view that foreign players would be at the receiving end, in view of domestic majors commanding an established brand equity.



3.Birla Sun Life Asset Management Company launches gold ETF closing on May 9.


Birla Sun Life Asset Management Company (BSLAMC) announced launch of Gold ETF, an open-ended gold exchange traded fund that closes on May 9. “This new product offers multiple benefits to the investors seeking to diversify their portfolio through investment in gold. In the last few years, there has been increased trend of investing in gold ETF as a part of broader asset allocation to various asset classes,” said BSLAMC’s CEO A Balasubramanian in a release.



1.Reliance MF files draft papers with SEBI for income fund.


Reliance Mutual Fund, a part of the Anil Dhirubhai Ambani Group, plans to launch an income scheme and has filed draft papers with market regulator SEBI for the same. The new fund offer (NFO), called Reliance Fixed Horizon Fund – XX, is a close-ended income scheme and the units can be purchased only during the period of NFO. The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio, according to the draft document filed with the Securities and Exchange Board of India.



2.Smaller fund houses deliver higher returns.


While size is much sought after in the mutual fund industry, it is the smaller fund houses which have actually delivered the best returns to investors in the past year. Consider this. If one averages the returns across their equity schemes, Quantum Mutual Fund, Benchmark Mutual Fund and Daiwa Mutual emerge as the top performers over the past one year, managing returns of 13.4 per cent to 15.8 per cent. These funds are midgets, having under their fold only between Rs 125 crore and Rs 1,500 crore of assets. Their equity assets are lower.

Four other small houses including Mirae and Canara Robeco figure among the top 10 on returns, delivering returns in the range of 10-15 per cent. Top equity managers such as Reliance Mutual, Sundaram Mutual and SBI Mutual have in contrast delivered average one-year returns of 4-7 per cent on their schemes.

News Source – BUSINESS LINE.

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