Fixed-maturity plan variant from PruICICI

S. Vaidya Nathan

PRUDENTIAL ICICI Mutual Fund has proposed to launch Series 2 of its quarterly plan of Prudential ICICI Fixed Maturity Plan.

This is an open-end debt fund that seeks to generate a regular return. The fund will invest in fixed-income securities that mature in line with the time profile of the respective plans. The Specified Subscription Period of Series 2 of the Quarterly Plan will be open for investment until January 29.

The fund will essentially invest in short-term securities, money market instruments, securitised debt and cash equivalents. These will account for 75 per cent of the portfolio. The fund offers a Dividend Option and a Cumulative Option. The minimum investment amount is Rs 25,000. The fund is being offered on a `no-entry' load bass.

There would be no exit load if the redemption is made on Specified Redemption Date. The first date for this series is April 22, 2001 and the subsequent redemption dates will be the 91st day after the previous specific redemption date. Redemption made at other points in time would carry a load of 0.50 per cent on the net asset value (NAV).

Click here for Table

Kothari MIP load: Kothari Pioneer Mutual Fund has declared a dividend of 0.90 per cent (Rs 0.09 per unit of the face value of Rs 10) with the record date of January 25. All investments made in the monthly dividend plan on or before the record date will be entitled to the dividend.

As far as Income Builder Account (IBA), the tax-free dividend would be 1 per cent (Rs 0.10 per unit of the face value of Rs 10). The record date is January 25 for reckoning eligibility to the dividend. Kothari Pioneer Mutual Fund has announced assets under management of Rs 2,600 crore with an investor base of 6,75,000 investors

HDFC Load: HDFC Mutual Fund has announced the revised load structure for HDFC Income Fund. The structure is applicable on a prospective basis on investments made after January 20. There is no entry load.

Unlike earlier, when there was an exit load of 0.50 per cent if redeemed within on or within six months of the date of allotment, the new load would be 0.25 per cent if redeemed within three months from the date of allotment. According to the fund, the new load would be applicable until further notice.

Exit load on Alliance Income: With effect from February 1, all new investments in Alliance Liquid Income, the open-end debt scheme of Alliance Capital Mutual Fund, will be subject to a redemption load of 0.50 per cent of the NAV. This load will be applicable to investors who invest in the scheme on or after February 1 and redeem their units within three months from the date of allotment of the unit.

K-Gilt record date: Kotak Mahindra Mutual Fund has announced a record date of January 25 for the purpose of declaration of dividend under the Dividend Option of the Savings Plan for Kotak Mahindra Gilt Plan 1998. All the unitholders as of that date in the records of registrars -- Computer Age Management Services -- will be eligible for the dividend.

Chola load goes: Cholamandalam Cazenove Mutual Fund has announced a Contingent Deferred Sales Charge has been removed from its debt schemes -- Chola Triple Ace and Chola Freedom until further notice. A CDSC of 0.50 per cent was earlier applicable on the schemes if redeemed within three months. The load removal takes effect from January 29.

US-64 prices: The Unit Trust of India has fixed the sale price and repurchase price for US-64 at Rs 14.20 per unit and Rs 13.90 per unit respectively for January. These prices represent a 20-paise rise over the December prices.

Jardine Fleming Dividend: Jardine Fleming India Fund has Declared income distribution of $1.4772 per share from long-term capital gains. The distribution is payable on January 12, 2001 to shareholders on record as of December 28, 2000. The Fund is a closed-end, non-diversified management investment company seeking long-term capital appreciation through investments primarily in listed equity securities of Indian companies. The Fund's investment manager is Jardine Fleming International Management.

Click here for Table

India Growth Fund: The India Growth Fund, Inc. has declared income distribution of $0.4668 per share from long-term capital gains. The distribution is payable on January 12 to shareholders on record as of December 28, 2000. The Fund is a non-diversified, closed-end management investment company that seeks long-term capital appreciation through investments primarily in equity securities of Indian companies. The Fund's investment adviser is Unit Trust of India Investment Advisory Services Limited.