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Sunday, Jun 26, 2005

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SBI unveils Magnum Comma Fund

  • Franklin Templeton Mutual Fund has announced a dividend of 20 per cent, or Rs 2 per unit, on FT India Balanced Fund. The record date is June 15.

    The fund has also declared a dividend on Franklin India Prima fund. The record date is July 13.

  • SBI Mutual Fund has announced a new fund offer, SBI Magnum Comma Fund. The fund will invest 65-100 per cent of its assets in stocks of companies engaged in the commodity business.

    The term Comma is an acronym for Commodities in Oil, Metals, Materials and Agriculture. The minimum application amount is Rs 5,000.

    Both dividend and growth options are available. There is no entry load during the offer period.

    For investments of less than Rs 5 crore, an exit load of 1-2 per cent will be charged on exit within a year from the scheme's re-opening.

    For higher amounts, an exit load of one per cent will be charged on exit within three months from the re-opening date. The offer opens on June 30 and July 25.

  • Birla Mutual is to declare a dividend on Birla Dividend Yield Plus. The record date is July 1.

    Reliance Mutual plans to launch Reliance Arbitrage Advantage Fund. The fund seeks to invest in a combination of equity, derivatives, debt and money market instruments. The fund offers three plans, each having growth and dividend options. A draft offer document has been filed with SEBI.

  • LIC Mutual has changed the name of its LICMF Floating Rate Fund to LICMF Floating Rate Fund Short Term Plan.

  • PruICICI Mutual Fund has postponed the subscription period for fresh purchases on an on-going basis for PruICICI Blended Plan-Plan A for the month of June 2005.

    For Plan B, the subscription period will continue to be any business day between the 17th and 22nd day of each calendar month, including June.

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