The Hindu Business Line : Standard Chartered adds to its income scheme basket

STANDARD Chartered Mutual Fund plans to launch a Medium Term Fund, which will enable investors to invest for three to twelve months. The fund will invest up to 25-25 per cent in government securities and the balance in corporate debt papers. The initial offer opened on June 16 and closes on June 27.

The fund manages assets of about Rs 5,800 crore.

IL&FS Dynamic Fund: IL&FS Mutual Fund is to launch IL&FS Dynamic Fund, which will invest in equity with aggressive trading strategies. The fund will generally invest 100 per cent of its assets in the equities by aggressive equity calls. As a defensive strategy, it may invest funds in debt instruments.

UTI Petro dividend: UTI Mutual Fund has announced a dividend of 12 per cent (Rs 1.20 per unit) for the UTI Petro Fund. The record date for the dividend is June 25.

The dividend is tax-free. The fund invests manly in oil and petrochemical sector stocks. The fund has turned in returns of about 31 per cent since its launch in December 1999.

Prima dividend: Franklin Templeton India Mutual Fund has announced a dividend on its Franklin India Prima Fund. The record date for the dividend is June 27. The dividend will be tax-free in the hands of investors.

The fund manager and Senior Vice President, Mr K. N. Sivasubramanian has expressed the view that: "Small and medium-sized companies experience a higher growth rate as compared to large established companies. We scan the markets continuously to identify dynamic, fast growing companies which exhibit one or more of the following characteristics — turnaround and restructuring stories, niche market dominance and under-researched `hidden jewels'.

The dividend will be paid to those unitholders in the dividend option for Prima. The scheme will re-open for sale and repurchase on June 30. It has an asset base of Rs 185 crore.

IL&FS dividend: IL&FS Mutual Fund has declared a dividend of 1.5 per cent for the Quarterly Dividend Plan and Institutional Plan for the IL&FS Bond Fund. The record date is June 16.

Taurus load waiver: Taurus Mutual Fund has introduced a load of 0.2 per cent for switch over from the debt schemes to equity schemes.

The switchover can be effected from Libra Bond Fund and Libra Gilt Fund to Taurus the Starshare, Discovery Stock Fund and Bonanza Exclusive Growth Scheme. The new structure is effective from June 18. There is no load for a switch over to the Libra Tax Shield.

US-64 Bonds trading: Trading in the government bond issued to US-64 investors has started from June 16 on the National Stock Exchange. The bond has a fixed value of Rs 100.

Assured return schemes: The board of UTI-I has planned to foreclose some of its assured return schemes. The fund has applied to the Securities and Exchange Board of India (SEBI). The foreclosure will involve paying the investors either cash or by way of government bonds.

MIP 98 (II) maturity: The Monthly Income Plan matures on July 1. The books of the scheme will be closed between June 24 and June 30.

UTI Administrator: The new address of the Specified Administrator of the UTI is UTI Tower, Bandra - Kurla Complex, Bandra (East), Mumbai 400 051.

Lower minimum amount: UTI Mutual Fund has reduced the minimum investment amount to Rs 1,000 for US 2002, US 95 (Growth Option), the growth plans of UTI G-Sec Fund, UTI Bond Fund, UTI Regular Income Scheme, UTI Children Career Plan, UTI Mahila Unit Scheme (Regular and Gilt Plan).

For the Growth and Fixed Amount Withdrawal Plan of UTI Bond Plan and Systematic Withdrawal Plan of the UTI Regular Income Scheme, the minimum investment amount is Rs 30,000.

: UTI Mutual Fund has announced an income distribution of 0.55 per cent fir the UTI Regular Income Scheme.

Lock-in goes: UTI Mutual Fund has removed the lock-in period of three years for the UTI Grihalakshmi Plan. Repurchase has been allowed without the lock-in-period from June 1.<137>

BL Research Bureau

Article E-Mail :: Comment :: Syndication

Stories in this Section
Yokogawa Bluestar: Accept

LIC postpones pension scheme

Three years of equity derivatives: My money, my play

Chickens have hatched, count!

Where is the Sensex headed?

Maruti IPO: An act of faith

Grasim deal may force Gujarat Ambuja hand

Guarding investors against themselves

Notes on the notary

IDBI Principal Child Benefit Fund: Switch