The Hindu Business Line : PruICICI launches Infrastructure Fund

PruICICI Mutual is launching a sector fund, PruICICI Infrastructure Fund. The fund will invest in sectors such as telecom, power, coal, and construction. The minimum investment amount is Rs 5,000. Dividend and growth options are available. The offer opens on July 18 and closes on August 10.

Tata Mutual has declared a maiden dividend of 4.5 per cent for Tata Infrastructure Fund. The record date is July 7.

Canbank Mutual has declared a dividend of 25 per cent under Canexpo fund. The record date for dividend payout will be August 8. This is the first time dividend has been declared for the fund in the current financial year.

Franklin Templeton Mutual has declared a dividend of 55 per cent for Franklin Prima. The record date is July 13.

Taurus Mutual has revised the load structure of Libra Tax Shield. With effect from July 11, an entry load of 2.25 per cent will be imposed on investments less than Rs 25 lakh. For higher amounts, the entry load is waived. There is no exit load.

Kotak Mutual has mopped up Rs 640 crore from the new fund offer of Kotak Contra. The offer closed on July 1.

Birla Mutual has extended the period of the new fund offer of Birla Fixed Term Debt Fund to July 22.

CRISIL has awarded Principal Income Fund, Principal Liquid Fund (Cash Management Option), Principal Short Term Income and Principal Floating Rate Fund an AAAf rating.

Paras Adenwala has been appointed as the Chief Investment Officer of ING Vysya Mutual Fund. He previously headed the equity portfolio function at Birla Mutual Fund.

UTI Mutual Fund is considering launching a Gold Exchange Traded Fund, once SEBI's regulations on the concept become clear. Investors in the fund can convert gold ornaments into tradeable units. On redemption, they will get gold bars or biscuits of equivalent value.

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