L&T Mutual Fund unveils L&T FMP-II (November12M A); Principal MF revises Principal Child Benefit-Career Builder Plan; CRISIL assigns highest grading to SBI Mutual Fund schemes; Tata Fund converts Tata Indo-Global Infrastructure Fund into open-ended scheme

L&T Mutual Fund unveils L&T FMP-II (November12M A)

L&T Mutual Fund has introduced L&T FMP - II (November12M A), a close-ended income scheme.
The investment objective of the plan would be to achieve growth of capital through investments made in a basket of debt/fixed-income securities maturing on or before the maturity of the scheme. The plan will invest 100% of the assets in debt and money-market instruments having low-medium risk. The tenor of the plan is 12 months. The plan offers two options-growth and dividend (payout). Since the plan will be listed on the stock exchange, no exit load will be charged.
The NFO opens on 2nd November and closes on 10th November. The minimum investment amount is Rs5,000. The minimum target amount is Rs1 crore.
CRISIL Short Term Bond Fund Index is the benchmark index. The plan will be managed by Bekxy Kuriakose.

Principal MF revises Principal Child Benefit-Career Builder Plan

Principal Mutual Fund has revised the name of its scheme - Principal Child Benefit- Career Builder Plan. The new name for the scheme is Principal Conservative Growth Fund. The revision has been in effect from 1st November. The revised investment objective of the scheme is to provide long-term capital appreciation and regular income by investing in equity and equity-related instruments. The scheme will also invest in debt and money-market instruments. The scheme is managed by PVK Mohan and Shobit Gupta. CRISIL Balanced Fund Index is the benchmark for the scheme.

CRISIL assigns highest grading to SBI Mutual Fund schemes

Three mutual fund schemes of SBI Mutual Fund have received the highest CRISIL grading - CRISIL Fund Rank 1. The schemes are SBI Short Horizon Debt Fund (Institutional), SBI Short Horizon Debt Fund (Retail) and SBI Magnum Insta Cash Fund. All the above funds are managed by Rajeev Radhakrishnan.
CRISIL Fund Rank 1 signifies that a fund has a very good performance in the category (Top 10 percentile of the Universe). The ranks are assigned on a scale of 1 to 5. In any peer group, the top ten percentile of funds are ranked as CRISIL Fund Rank 1 and the next twenty percentile are ranked as CRISIL Fund Rank 2.
The basic eligibility criteria for inclusion in the ranking universe are two years net asset value (NAV) history (one-year for liquid, ultra short term debt, index and debt-short funds and five-year inclusion for the consistent performers), assets under management in excess of category cut-off limits and complete portfolio disclosure.

Tata Fund converts Tata Indo-Global Infrastructure Fund into open-ended scheme

Tata Fund will convert Tata Indo-Global Infrastructure Fund, which is a close-ended scheme, into an open-ended scheme. After the conversion into an open-ended scheme the scheme will charge 1% exit load, if units are redeemed within 365 days from the date of allotment. The change will be effective from 12th November. The scheme will follow a book closure till 19th November and will re-open for ongoing purchase and redemption with effect from 22nd November.