The Hindu Business Line : Fund Update

Kotak Mutual Fund has revised load in its equity schemes, effective 1 July. An entry load of 2.25 per cent will be charged for investments less than Rs 5 crore and an exit load of 1 per cent will be charged for redemptions and switch outs made within one year from the date of allotment.

UTI Mutual Fund has declared a dividend of 18 per cent under UTI Opportunities Fund. The record date for the same is 1 July.

SBI Mutual has cancelled dividend which it declared on its Debt Fund Series 18 months-2 on June 20 due to non availability of distributable surplus.

Principal Mutual has launched Principal 91 day FMP with an indicative yield of 9.9 per cent; the issue closes on Monday.

DSPML Mutual Fund has launched a 12 month fixed maturity plan DSPML FMP-12M-Series1.The NFO closes on June 30. The minimum investment is Rs 10,000.The fund will not charge an entry load; however, an exit load of 1.5 per cent if redeemed before maturity date.

ING Mutual has launched Latin America Equity Fund, an open ended fund-of-fund that will invest in ING’s existing fund abroad. The NFO is open from June 19 to July 10.

Mirae Asset Management has launched a Global Commodity Stocks Fund that will invest in commodity and related stocks of companies in Asia-Pacific and Emerging markets.

Sundaram BNP Paribas Mutual Fund has entered into a tie-up with The Jammu & Kashmir Bank to distribute its entire bouquet of schemes across its branches in major business cities in the country.

Kotak Flexi Debt will charge an exit load of 0.15 per cent if redeemed within one working day after the date of allotment.

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