MF NAVs end higher as markets close in green
Equity diversified NAVs recovered earlier losses and ended higher with advance:decline ratio of 165:2 as it was a good close for markets with Nifty closing on a new high. The Sensex was up 133.08 points or 0.92% at 14544.46, and the Nifty up 46.15 points or 1.09% at 4295.8.
All sectoral funds advanced sharply. The BSE Bankex, Healthcare, Auto, FMCG and IT indices were up 1.4%, 0.4%, 1.3%, 1.4% and 0.8%, respectively.
Among the sector funds, the top gainers were JM Healthcare Sector Fund (G) up 3.39%, UTI Pharma & Healthcare Fund (G) up 2.41% and Reliance Pharma Fund (G) up 2.03%.
Balanced and tax saving funds also joined the party yesterday.
- Equity diversified NAVs end higher
- All sectoral funds advance sharply
- Balanced and tax saving funds close with positive returns
Among the equity diversified funds, the top gainers were Standard Chartered Premier Equity Fund (G) up 2.51%, JM Emerging Leaders Fund (G) up 2.45% and Birla Sun Life Equity Fund (G) up 1.93%. The top losers were UTI Master Value Fund (G) down 0.16%, SBI Arbitrage Opportunities Fund (G) down 0.01%. Among the tax saving funds, the top gainers were JM Equity Tax Saver Fund - Series I (G) up 2.94%, HSBC Tax Saver Equity Fund (G) up 1.32% and Principal Tax Savings Fund up 1.28%. The top losers were Taurus Libra Tax Shield down 0.42%, ING Vysya Tax Saving Fund (G) down 0.04%.
Among the balanced funds, the top gainers were JM Balanced Fund (G) up 1.69%, Kotak Dynamic Asset Allocation (G) up 1.40% and Reliance Regular Savings Fund - Balanced Option up 1.27%. The top losers were Escorts Opportunities Fund (G) down 0.31%, BOB Balance Fund (G) down 0.20% and BOB Children Fund - Study Plan down 0.01%.
HSBC Advantage India Fund declares maiden dividend
HSBC Mutual Fund has announced a maiden dividend of 10% (Rs 1 unit at face value of Rs 10) in its HSBC Advantage India Fund - an open-ended equity scheme whith an objective seeking to generate long term capital growth from an actively managed portfolio of equity and equity related securities by investing primarily in sectors, areas and themes that play an important role in, and / or benefit from, India's progress, reform process and economic development. (Check out - Recent MF Dividends )
All investors registered under the dividend option of the scheme as on May 11, 2007 will receive this dividend. Please note that dividend as decided shall be paid, subject to availability of distributable surplus. Pursuant to payment of dividend, the NAV of the schemes would fall to the extent of payout and statutory levy (if applicable). The NAV under the dividend plan of the scheme as on May 9, 2007 was Rs 12.2392.
Labels: dividend, HSBC
Tata Service Industries declares maiden dividend of 25%
Tata Mutual Fund has announced a maiden dividend of 25% (Rs 2.5 unit at face value of Rs 10) in its open-ended equity scheme Tata Service Industries Fund. The investment objective is to provide income distribution and / or medium to long term capital gains by investing predominantly in equity / equity related instrument of companies in Service sectors. (Check out - Recent MF Dividends )
All investors registered under the dividend option of the scheme as on May 11, 2007 will receive this dividend. Please note that dividend as decided shall be paid, subject to availability of distributable surplus. Pursuant to payment of dividend, the NAV of the schemes would fall to the extent of payout and statutory levy (if applicable). The NAV under the dividend plan of the scheme as on May 9, 2007 was Rs 20.4177.
Over the last one year, Tata Service Industries Fund has yielded 8.7% as compared to 9.3% given by its benchmark BSE Sensex as on May 9, 2007
SBI MF to bet big on Indian Infrastruture growth
SBI Funds Management Pvt. Ltd. has launched a three-year close-end equity fund to invest in companies likely to benefit from India's rising expenditure on infrastructure. Three of India's top five performing funds in 2006 were pure infrastructure funds and have attracted attention of investors and fund houses.View - New Fund Offers open NOW)
"If you look at all the 2,600 stocks that are traded today, you will find the infrastructure theme to be the most powerful," said Sanjay Sinha, Head of Equities, explaining the launch of SBI Infrastructure Fund-Series I.
A mid-April poll of 13 fund houses found equity funds invested more than a quarter of their assets in sectors such as basic engineering, construction and financial services.
The scheme will look to opportunities likely from India's proposed 14 trillion rupees investment on infrastructure in the eleventh five year plan, Sinha said.
"What we have spent in the 50 years of planned development is nothing as compared to what we now plan to spent", Sinha added.
The fund, open for subscription from May 11 to June 8, would invest at least 65 percent of assets in equities and rest in debt and money market instruments, the asset manager said.
The fund house managed assets worth about Rs 183.39 crore at the end of April, data from Association of Mutual Funds in India showed.
ICICI Pru Services Industries declares maiden dividend
ICICI Prudential Mutual Fund has announced a maiden dividend of 15% (Rs 1.5 unit at face value of Rs 10) in its open-ended equity scheme in ICICI Prudential Service Industries Fund. The investment objective of the scheme seeking to provide capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of the companies belonging to the service industries and the balance in debt securities and money market instruments including call money. (Check out - Recent MF Dividends )
All investors registered under the dividend option of the scheme as on May 11, 2007 will receive this dividend. Please note that dividend as decided shall be paid, subject to availability of distributable surplus. Pursuant to payment of dividend, the NAV of the schemes would fall to the extent of payout and statutory levy (if applicable).
CanMulticap opens for repurchase
CanMulticap, a five year close ended equity scheme provided for repurchase facility after 90 days from the date of allotment of the units. Such repurchase facility is provided to the investors on first and third Wednesday of every month.
Accordingly, the Scheme shall provide repurchase facility to the unit holders on first and third Wednesday of every month and first such repurchase shall commence from May 16, 2007.
Unit holders who wish to offer their unit holding for repurchase may submit the redemption requests at the Investor Relation Centres or the notified offices of the Registrar, M/s. Karvy Computershare Pvt Ltd.
