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Principal Mutual to launch floating rate fund

  • Templeton Mutual fund is to merge the India Asset Allocation Fund and the India PE Ratio Fund into the India Life Stage Fund of Funds and India Dynamic PE Ratio Fund of Funds respectively.

  • Sundaram Mutual Fund is to launch an open-ended equity-oriented scheme, Sundaram Star Fund.

    The fund will invest in companies that have the potential of becoming global sourcing bases for products or services. At least 65 per cent of the fund's corpus is to be invested in equities and equity-related instruments.

  • Principal Mutual Fund is to launch a floating rate fund called Principal Floating Rate Fund. Principal Floating Rate is an open-ended income scheme, the portfolio comprising largely floating-rate debt instruments, fixed-rate debt instruments swapped for floating-rate return, and also fixed-rate debt instruments and money-market instruments.

    The scheme offers two investment plans — Short Maturity Plan and Long Maturity Plan. Both offer growth as well as dividend options.

  • Franklin Templeton Mutual Fund is to launch another fund of funds: FT India Life Stage Fund of Funds — 50s Plus Floating Rate Plan.

    The scheme will invest 20 per cent in equity and 80 per cent in debt.

    The equity portion will comprise Franklin India Bluechip Fund and Templeton India Growth Fund, whereas, the debt portion will comprise Templeton India Floating Rate Income Fund Long Term.

    The initial offer opened on June 16 and ends on June 28. The minimum subscription amount is Rs 5,000.

  • ABN Amro Mutual Fund is to launch five funds — an equity fund, a monthly income plan, a dynamic debt fund, a floating rate fund and a liquid fund.

    The fund has appointed Mihir Vohra as the fund manager for its equity fund; Rajiv Shastri for its MIP and dynamic debt fund; and R. Sivakumar for the floating rate and liquid funds.

    BL Research Bureau

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