The Hindu Business Line : New schemes from funds

Franklin Templeton Mutual Fund has introduced entry and exit loads for Systematic Investment Plans, Systematic Transfer Plans and Dividend Transfer Plans. The entry load is 1 per cent for equity and balanced funds. Exit load will be 1 per cent if redeemed within 2 years.

UTI Mastergain Unit Scheme has been renamed as UTI Equity Fund with effect from July 1, 2005. The fund has assets under management of more than Rs 1,200 crore. All other terms and features of the scheme remain unchanged.

Birla Mutual Fund has launched Birla Fixed Term Debt Fund. The issue closes on July 15 and the minimum investment is Rs 5,000. This series has two plans on offer — 18 months and 36 months. Each plan also offers growth and dividend options.

Principal Mutual Fund has declared July 29, 2005, as the record date for 40 per cent dividend under Principal Resurgent India Equity.

HSBC Mutual Fund, Deutsche Mutual Fund and DSP Merrill Lynch have filed offer documents with SEBI for the launch of Tax Saving funds. These schemes have a lock-in period of three years.

Tata Mutual Fund and DSP Merrill Lynch have filed offer documents for the launch of arbitrage funds with SEBI. These schemes will seek to exploit the pricing inefficiencies in the spot and derivative markets. These schemes are similar to the funds launched by JM Mutual Fund and Benchmark Mutual Fund.

BSE Energy Index, the benchmark index of JM Basic Fund has been renamed as BSE Basic Industries Index. The constituents and weightages of the benchmark index remain unchanged.

ING Vysya Floating Rate Fund has obtained a AAAf rating.

UTI Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) has declared a dividend of 2.45 per cent on a face value of Rs 100. The record date is July 7. This is the second dividend declared by the scheme in FY 2006.

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