Apr 29, 2008

Mutual Funds News - 29 Apr 2008

29 Apr 2008 | 10:39 Birla MF declares dividend

Birla Mutual Fund has declared dividend under Birla Fixed Term Plan-Series V. The fund house has announced 2 May 2008 as the record date for distribution of dividend under Retail Plan-Dividend and Institutional Plan-Dividend in the scheme.

The scheme will distribute 100% distributable surplus as dividend on the record date on the face value of Rs 10 per unit. The scheme recorded NAV of Rs 10.9965 (Retail Plan) and Rs 11.0348 (institutional Plan) per unit as on 25 April 2008.

All unit holders whose name appears in the register of unitholders of the schemeas at the close of business hours on the record date shall be eligible to receive the dividend so declared. After payment of dividend, the NAV will fall to the extent of the payout and statutory levy, if any.

29 Apr 2008 | 11:07 Addendum to the offer document of FT MF

The closing date of the New Fund Offer of Plan A of Franklin Templeton Fixed Tenure Fund-Series IX (FTFTF-Series IX-Plan-A) has been extended till 12 May 2008 and the date of allotment has been revised to 21 May 2008.

Accordingly the maturity date of the plan and stipulated dates of redemption mentioned in the offer document have been modified as follows:

Maturity Date

Stipulated date for redemption

3 years from the date of allotment

At the end of 6th, 12th, 18th, 24th and 30th month from the date of allotment, as given below:

Date: 20 May 2011

Dates: 22 November 2008, 22 May 2009, 22 November 2009, 22 May 2010 and 22 November 2010

The scheme will remain open for redemption for a period of 7 business days commencing from the stipulated date(s) for redemption mentioned above.

29 Apr 2008 | 18:46 Mutual funds step up sales

Mutual funds sold shares worth a net Rs 199.60 crore on Monday, 28 April 2008, which was higher that their outflow of Rs 73.40 crore on Friday, 25 April 2008.

Mutual funds net outflow of Rs 199.60 crore on 28 April 2008 was a result of gross purchases Rs 650.50 crore and gross sales Rs 850.10 crore. Sensex lost 110.02 points or 0.64% to 17,015.96 on that day.

Mutual funds sold Rs 220.80-crore more shares than they bought in April 2008, till 28 April 2008. Mutual funds had sold Rs 1971.30-crore more shares than they had bought in March 2008, probably to raise cash to meet possible redemption pressure following a sharp setback in share prices over the last two months.

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