The Hindu Business Line : JM Mutual launches Equity & Derivative Fund

JM Financial Mutual Fund has launched the JM Equity & Derivative Fund, an income-oriented interval scheme. The fund will seek to generate income by taking advantage of arbitrage opportunities emerging out of a pricing differential between the cash market and the derivative market.

As and when an arbitrage opportunity arises, the fund will invest in equity share and take simultaneous sale position in derivative market of the same underlying security. The initial public offering opens on February 4 and closes on February 21.

Principal Mutual Fund has launched Principal Focussed Advantage Fund. The fund will invest in not more than six sectors at a time, with no sector having more than 25 per cent of its portfolio. The offer closes on February 22.

LIC Mutual Fund has launched the LICMF Opportunities Fund, which seeks to invest in stocks belonging to sectors that have a high growth potential. The initial offer closes on February 21.

Birla Mutual has declared dividends of 10 per cent and 50 per cent for Birla Mid-Cap and Birla MNC Fund respectively. The record dates are January 28 and January 18 respectively.

Sundaram Mutual Fund has declared a dividend of 50 per cent or Rs 5 per unit for Sundaram Tax Saver. The record date is January 28.

Principal Mutual Fund has revised the dates of investments for its Systematic Investment Plan (SIP), wherever it is offered, with effect from February 1. The revised dates are 1st, 5th, 15th or 25th of every month.

Sundaram Mutual Fund has mopped up Rs 366 crore from the initial public offer of Sundaram S.M.I.L.E (Small and Medium Indian Leading Equities) Fund.

With this fund, Sundram Mutual's equity corpus has crossed the Rs 1,000-crore mark.

At the ICRA Online Mutual Fund Awards, Franklin Templeton Mutual won six awards, the maximum number, while Reliance Mutual and SBI Mutual won five awards each.

BL Research Bureau

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