Deutsche MF launches DWS Fixed Term Fund-Series 74; HDFC Mutual Fund launches new fixed term fund; Benchmark MF to transact Liquid BeES through online mutual fund facility; Principal MF discontinues online subscription plan under Principal Cash Management Fund-Liquid Option; Pramerica MF files offer document SEBI to launch Pramerica Dynamic Monthly Income Fund
Deutsche MF launches DWS Fixed Term Fund-Series 74
Deutsche Mutual Fund has launched a new fund called DWS Fixed Term Fund-Series 74. The fund is a close ended debt scheme and has tenure of 370 days. The new fund offer (NFO) price for the scheme is Rs10 per unit. The new issue will open for subscription from 27 August 2010 and close on 2 September 2010. The investment objective of the fund is to generate regular income by investing in debt and money market instruments maturing on or before the date of the maturity of the scheme.
The fund has two options—growth and dividend (payout) option. The minimum subscription amount is Rs5,000 and in multiples of Re1 thereafter. The fund seeks to collect a minimum subscription amount of Rs1 crore under the scheme during the NFO period. The entry and exit load charge for the scheme will be nil.
HDFC Mutual Fund launches new fixed term fund
HDFC Mutual Fund has launched a new fixed term fund called HDFC FMP 35D August 2010 (2), under HDFC Fixed Maturity Plans-Series XIV. The fund is a close ended income scheme. The face value of the new issue will be Rs10 per unit. The new issue will open and close for subscription on 26 August 2010. The investment objective of the plan is to generate regular income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the plan. The scheme shall offer two options—growth and dividend option. Dividend option offers only payout facility. The duration of the scheme will be 35 days. The minimum subscription amount is Rs5,000 and in multiples of Rs10 thereafter. The fund seeks to collect a minimum target amount of Rs1 crore under the scheme during the NFO period. Entry and exit load charge will be nil for the scheme.
Benchmark MF to transact Liquid BeES through online mutual fund facility
Benchmark Mutual Fund has announced that units of Liquid Benchmark Exchange Traded Scheme (Liquid BeES) will be offered for subscription or redemption on the facility provided by National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) from 1 September 2010. This facility will be available for both existing unit holders and new investors. Through this facility, investors can subscribe Liquid BeES units with a minimum amount of Re1 and in multiples thereof. They can also redeem Liquid BeES units with a minimum of 0.001 units and in multiples thereof. Liquid BeES invest in short-term government securities and money market instruments of short and medium maturities.
Principal MF discontinues online subscription plan under Principal Cash Management Fund-Liquid Option
Principal Mutual Fund has discontinued its online subscription plan under Principal Cash Management Fund-Liquid Option from 24 August 2010.
Pramerica MF files offer document SEBI to launch Pramerica Dynamic Monthly Income Fund
Pramerica Mutual Fund has filed an offer document with the Securities and Exchange Board of India (SEBI) to launch Pramerica Dynamic Monthly Income Fund. The scheme is an open ended income scheme. The new fund offer (NFO) price for the scheme will be Rs10 per unit. The objective of scheme is to generate regular returns by making investment in debt and money market instruments and to generate capital appreciation by investing in equity and equity related instruments. The scheme shall offer two options—growth and dividend option. The scheme would allocate 70% to 95% of assets in fixed income securities. It would further allocate 5% to 30% of assets in equity and equity related instruments. The scheme will charge an exit load of 1% if the units are redeemed within 365 days of allotment. The minimum subscription amount will be Rs5,000 and in multiples of Re1 thereafter. The minimum target amount of Rs1 crore is expected to be raised during the NFO period.
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