The Hindu Business Line : Fund update

Fidelity Mutual plans to launch Fidelity International Opportunities Fund. The scheme seeks generate long term capital appreciation from a diversified portfolio of predominantly equity and equity related securities including equity derivatives in Indian and International markets.

The fund will offer growth and dividend options. The dividend option has both payout and reinvestment options. The minimum one-time investment is Rs 5, 000. Under the SIP mode, the minimum monthly instalment is Rs 500 and the minimum annual amount should be Rs 5000 in at least six instalments.

During the NFO, the fund will charge an entry load of 2.25 per cent for investments less than Rs 5 crore. Initial issue expenses are limited to entry load and there is no amortisation and no hidden costs. Mr Rajesh Singh and Mr Leng Ng will manage the fund jointly.

Reliance Mutual has reduced the minimum investment amount for monthly and quarterly Systematic investment plans (SIPs). With effect from April 1, the minimum amount for monthly SIPs will be Rs 100, subject to a minimum of 60 monthly instalments. The quarterly SIP option will require a minumum of Rs 500 with a minimum of 12 instalments.

Prudential ICICI Mutual Fund changed its name to ICICI Prudential Mutual Fund with effect from April 2. With Prudential Plc's transferring 6 per cent stake to ICICI Bank in August, the former's stake has come down to 49 per cent. Now with a 51-per cent stake, ICICI Bank has become the dominant partner. The name has been changed to reflect the current holding.

UTI Mutual Fund has changed the name of its scheme UTI Bond Advantage Fund to UTI Liquid Plus Fund with effect from April 3.

ICICI Prudential Mutual Fund has announced the change in load structure for the following schemes. ICICI Prudential Long Term Plan will have a nil entry and exit load. It will charge an entry load of 1 per cent in ICICI Prudential Index Fund. No exit load is applicable.

In ICICI Prudential Equity and Derivatives Fund - Wealth Optimiser Plan, an entry load of 2.25 per cent will be charged for investments less than Rs 5 crore. An exit load of 0.5 per cent will be applicable if redemption or switch-out is made within six months from the date of allotment.

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