The Hindu Business Line : Birla MF launches new scheme

Birla Mutual Fund has introduced Systematic Investment Plans (instead of the earlier REAPs) in its entire range of equity and long-term debt funds. The fund offers a monthly and quarterly systematic investment option and entry loads will be waived on all investments less than Rs 10 lakh per cheque.

Several of the UTI's equity funds have declared dividends this week. The dividend declared on Mastergrowth is at 25 per cent, Index Select Equity Fund at 25 per cent, Equity Tax Savings Plan at 20 per cent and MEPUS (the result of the merger of the earlier Master Equity Plans) at 10 per cent. The record dates are: November 25 for Mastergrowth, November 29 for Index Select Equity and Equity Tax Savings Plan and November 22 for the MEPUS fund.

Sundaram Mutual has mooted a new equity offering, called S.M.I.L.E — "Small and mid-cap India's leading equities" fund.

UTI has announced a 12 per cent (gross) dividend under Variable Investment Scheme-Index linked plan. The record date for payout is December 1.

Franklin India Flexi Cap Fund, the proposed new rollout from Franklin Templeton, will be the first of its equity funds to be co-managed by two of its equity fund managers — Mr Sukumar and Mr Sivasubramaniam.

Reliance Capital has mooted an all-sector equity fund which would invest 75 per cent or above in equity or related investments and up to 25 per cent in debt investments.

Prudential ICICI Mutual Fund has announced that November 30 will be the last date for receipt of application forms for awarding scholarships under the PruICICI Child Care Plan. The forms have been mailed to unitholders.

SBI Mutual Fund has changed the registrar for some of its funds from Karvy Computershare to Datamatics Financial Software, Plot no A 16&17, Part B Cross Lane, MIDC, Marol Andheri(East), Mumbai-93. The funds are MELS 96, Magnum Bond Fund, MELS91, MRIS 90 and MTSS 90.

BL Research Bureau

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