DSP BlackRock Mutual Fund unveils 12 months fixed maturity plan

DSP BlackRock Mutual Fund new issue closes on 20th June

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP–12M–Series 23, a close-ended income scheme.

The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the schemes. The duration of the plan is 12 months.

The new issue closes on 20th June. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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JPMorgan Mutual Fund floats 90 days fixed maturity plan

JPMorgan Mutual Fund new issue closes on 20th June

JPMorgan Mutual Fund has launched JPMorgan India Fixed Maturity Plan Series 2, a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and Government of India securities maturing on or before the maturity date of the respective scheme. The tenor of the scheme is 90 days.

The new issue closes on 20th June. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Nandkumar Surti and Namdev Chougule are the fund managers.

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Companies mobilise Rs2,025 crore in April via IPOs, rights issues

During April 2011, Rs2,025.7 crore was mobilised in the primary market through six issues compared to Rs6,514.2 crore mobilised through 14 issues in March 2011

The quantum of funds mopped up by India Inc through initial public offers (IPOs) and rights issues fell by almost 69% in April to Rs2,025.7 crore compared to the levels raised in March this year.

“During April 2011, Rs2,025.7 crore was mobilised in the primary market through six issues compared to Rs6,514.2 crore mobilised through 14 issues in March 2011, a decline of 68.9% over previous month,” said the ‘Capital Market Review’ by the Securities and Exchange Board of India (SEBI).

All the six issues in April were IPOs. Corporates had raised Rs6,514.2 crore in March through three IPOs, four public issues and seven rights issues. Fund raising through IPOs and rights issues was quite good in the last fiscal and companies had ended up 2010-11 raising a total of Rs67,608.6 crore.

Among the major fund raising last year was Coal India’s public offer which had garnered over Rs15,000 crore. SEBI also said in April no listed company raised capital through qualified institutional placements (QIPs). The number of QIPs is March 2011 was only one and Rs1,993 crore had been raised through it.

The number of preferential allotments, however, witnessed a surge in April 2011 with 30 such allotments raising Rs8,776 crore. In March, a total of 26 preferential allotments had hit the primary market, raising a total of Rs1,020 crore. In April, the stock markets had seen a bit of fluctuation with the equity benchmark Sensex going up by 1.7% during the month.

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