UK fund manager ties up with Tata for India equity fund
London, Apri 6 (PTI)
British fund manager New Star Asset Management has entered into a joint venture with the Tata Group that will see the two companies launch an Indian equity fund for UK investors later this year.
The fund will be run for New Star by Tata's investment division, Tata Asset Management, which currently has around 6 billion dollars in assets under management.
http://www.ptinews.com/pti/ptisite.nsf/all/9388665665920F5565257423001C5D7C?Opendocument
Friday, April 11, 2008
Wednesday, April 9, 2008
Overseas Investments by Mutual Funds - Limit raised to US$7 bn
DEPUTY GENERAL MANAGER
INVESTMENT MANAGEMENT DEPARTMENT
SEBI/IMD/CIR No.2/122577/08
April 8, 2008
All Mutual Funds Registered with SEBI
Association of Mutual Funds in India (AMFI)
Dear Sirs,
Re: Overseas Investments by Mutual Funds
1. Please refer to clause 1 (a) of SEBI Circular SEBI/IMD/CIR No.7/104753/08
dated September 26, 2007 pertaining to overseas investments by mutual
funds.
2. In consultation with Govt. of India and RBI, it has now been decided to
enhance the aggregate ceiling for overseas investment to US$7 bn.
3. All other conditions specified in the above mentioned circular remain
unchanged.
4. These guidelines are issued in exercise of powers conferred under Section
11(1) of the Securities and Exchange Board of India Act, 1992 read with the
provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996.
Yours faithfully,
Ruchi Chojer
INVESTMENT MANAGEMENT DEPARTMENT
SEBI/IMD/CIR No.2/122577/08
April 8, 2008
All Mutual Funds Registered with SEBI
Association of Mutual Funds in India (AMFI)
Dear Sirs,
Re: Overseas Investments by Mutual Funds
1. Please refer to clause 1 (a) of SEBI Circular SEBI/IMD/CIR No.7/104753/08
dated September 26, 2007 pertaining to overseas investments by mutual
funds.
2. In consultation with Govt. of India and RBI, it has now been decided to
enhance the aggregate ceiling for overseas investment to US$7 bn.
3. All other conditions specified in the above mentioned circular remain
unchanged.
4. These guidelines are issued in exercise of powers conferred under Section
11(1) of the Securities and Exchange Board of India Act, 1992 read with the
provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996.
Yours faithfully,
Ruchi Chojer
Saturday, March 8, 2008
Integrity Mutual Funds, Inc. Appoints Bradley Wells Interim President and CEO
March 07, 2008
Integrity Mutual Funds, Inc. Appoints Bradley Wells Interim President and CEO
MINOT, N.D.--(BUSINESS WIRE)
Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, announced today that Bradley Wells will serve as interim President and CEO for the company. This appointment follows the resignation of Mark Anderson.
Wells has been in the financial industry for over 20 years and has been on Integrity’s senior management team since 2001 as a Senior Vice President and Director of Retail Administration. He has been an active part of building and running the Company broker-dealer division, Capital Financial Services. Under his direction, the Capital Financial Services team and production grew fifty percent in 2007 and also grew to one of the top 50 broker/dealers in the country by representative count.
Mr. Wells has served in various executive positions for Integrity and has been an integral part of the recent growth. Mr. Wells is a registered representative, registered investment advisor, and registered securities principal and holds a B.B. Administration from the University of North Dakota.
Integrity Mutual Funds, Inc. is publicly traded over the OTC Bulletin Board under the symbol IMFD.OB. With its subsidiaries, Integrity Money Management, Inc., Integrity Fund Services, Inc., and Integrity Funds Distributor, Inc., the firm sponsors, manages, and advises mutual funds. IMFD also owns Capital Financial Services, Inc., a full-service brokerage firm that specializes in providing investment products and services to 450 independent investment representatives, financial planners, and investment advisors throughout the United States. More information is available at http://corp.integrityfunds.com or by calling 800/276-1262.
Contacts
For Integrity Mutual Funds, Inc.
Kelly Cinelli, 508-222-4802
Kelly@cwrpartners.com
Integrity Mutual Funds, Inc. Appoints Bradley Wells Interim President and CEO
MINOT, N.D.--(BUSINESS WIRE)
Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, announced today that Bradley Wells will serve as interim President and CEO for the company. This appointment follows the resignation of Mark Anderson.
Wells has been in the financial industry for over 20 years and has been on Integrity’s senior management team since 2001 as a Senior Vice President and Director of Retail Administration. He has been an active part of building and running the Company broker-dealer division, Capital Financial Services. Under his direction, the Capital Financial Services team and production grew fifty percent in 2007 and also grew to one of the top 50 broker/dealers in the country by representative count.
Mr. Wells has served in various executive positions for Integrity and has been an integral part of the recent growth. Mr. Wells is a registered representative, registered investment advisor, and registered securities principal and holds a B.B. Administration from the University of North Dakota.
Integrity Mutual Funds, Inc. is publicly traded over the OTC Bulletin Board under the symbol IMFD.OB. With its subsidiaries, Integrity Money Management, Inc., Integrity Fund Services, Inc., and Integrity Funds Distributor, Inc., the firm sponsors, manages, and advises mutual funds. IMFD also owns Capital Financial Services, Inc., a full-service brokerage firm that specializes in providing investment products and services to 450 independent investment representatives, financial planners, and investment advisors throughout the United States. More information is available at http://corp.integrityfunds.com or by calling 800/276-1262.
Contacts
For Integrity Mutual Funds, Inc.
Kelly Cinelli, 508-222-4802
Kelly@cwrpartners.com
Wednesday, February 27, 2008
DSP ML launches Natural Resources, New Energy Fund
25 Feb, 2008
MUMBAI: DSP Merrill Lynch Fund Managers on Monday announced the launch of DSP Merrill Lynch Natural Resources and New Energy Fund, an open ended equity growth scheme investing in companies which form a part of the natural resources, energy and new energy sectors.
A minimum of 65 per cent of the scheme’s corpus will be invested in Indian companies which form a part of these sectors. The scheme also has a provision to invest a maximum of 35 per cent of its corpus in Merrill Lynch International Investment Funds, New Energy Fund and Merrill Lynch International Investment Funds, World Energy Fund and/or through securities of companies domiciled overseas and principally engaged in the sectors of natural resources and alternative energy.
The New Fund Offer will commence on March 3 and close on March 27.
The scheme also has a provision to invest a maximum of 35 per cent of its corpus in Merrill Lynch International Investment Funds, New Energy Fund and MLIIF, World Energy Fund.
MUMBAI: DSP Merrill Lynch Fund Managers on Monday announced the launch of DSP Merrill Lynch Natural Resources and New Energy Fund, an open ended equity growth scheme investing in companies which form a part of the natural resources, energy and new energy sectors.
A minimum of 65 per cent of the scheme’s corpus will be invested in Indian companies which form a part of these sectors. The scheme also has a provision to invest a maximum of 35 per cent of its corpus in Merrill Lynch International Investment Funds, New Energy Fund and Merrill Lynch International Investment Funds, World Energy Fund and/or through securities of companies domiciled overseas and principally engaged in the sectors of natural resources and alternative energy.
The New Fund Offer will commence on March 3 and close on March 27.
The scheme also has a provision to invest a maximum of 35 per cent of its corpus in Merrill Lynch International Investment Funds, New Energy Fund and MLIIF, World Energy Fund.
Tuesday, February 26, 2008
Birla Sun Life International Equity Fund
Birla Sun Life International Equity Fund-plan A -growth
25/02/2008
NAV 9.47010
Selling price 9.7069
Redemption price 9.3754
Scheme Features
Scheme Name Birla Sun Life International Equity Fund
Face Value Rs. 10/- per unit plus applicable entry load
NFO Opening Date 17-Sep-07
NFO Closing Date 16-Oct-07
Investment Plans Plan A: 90% -100% International Investment
Plan B: 25% - 35% International Investments & 65% - 75% Domestic Investment
Investment Options Dividend . Growth
Minimum Subscription Rs. 5,000/- and in multiple of Re. 1/- thereafter
Additional Subscription Rs. 1,000/- and in multiple of Re. 1/- thereafter
Load Structure Entry Load (including SIP):
For purchase of units < Rs. 5 Crores : 2.50%
For purchase of units > Rs. 5 Crores : Nil
As a result of Dividend Reinvestment : Nil
Exit Load (including SIP):
For purchase of units < Rs. 5 Crores : 1% if redeemed within 6 months of allotment
For purchase of units > Rs. 5 Crores : Nil
Inter Plan / Option Switches Entry & Exit Load: NIL
Maximum Subscription Limit Plan A: Rs. 500 Crores
Plan B: Nil
Choice of two Plans
Plan A
Instrument Risk Profile Range
(% of net assets)
Equity and Equity related Instruments (Investment in Foreign Equity Securities as permitted by SEBI/RBI) Medium to High 90%-100%
Fixed Income Securities (including Money Market Instruments) Low to medium 0%-10%
Plan B
Instrument Risk Profile Range
(% of net assets)
Equity and Equity related Instruments (Investment in Indian equity and equity related securities- 65%-75%, Investment in Foreign Equity Securities as permitted by SEBI/RBI- 25%-35%) Medium to High 90%-100%
Fixed Income Securities (including Money Market Instruments) Low to medium 0%-10%
Plan A & Plan B do not intend investing in units of overseas Mutual Fund. Plan B could be suitable for investors who are looking at tax efficiency.
25/02/2008
NAV 9.47010
Selling price 9.7069
Redemption price 9.3754
Scheme Features
Scheme Name Birla Sun Life International Equity Fund
Face Value Rs. 10/- per unit plus applicable entry load
NFO Opening Date 17-Sep-07
NFO Closing Date 16-Oct-07
Investment Plans Plan A: 90% -100% International Investment
Plan B: 25% - 35% International Investments & 65% - 75% Domestic Investment
Investment Options Dividend . Growth
Minimum Subscription Rs. 5,000/- and in multiple of Re. 1/- thereafter
Additional Subscription Rs. 1,000/- and in multiple of Re. 1/- thereafter
Load Structure Entry Load (including SIP):
For purchase of units < Rs. 5 Crores : 2.50%
For purchase of units > Rs. 5 Crores : Nil
As a result of Dividend Reinvestment : Nil
Exit Load (including SIP):
For purchase of units < Rs. 5 Crores : 1% if redeemed within 6 months of allotment
For purchase of units > Rs. 5 Crores : Nil
Inter Plan / Option Switches Entry & Exit Load: NIL
Maximum Subscription Limit Plan A: Rs. 500 Crores
Plan B: Nil
Choice of two Plans
Plan A
Instrument Risk Profile Range
(% of net assets)
Equity and Equity related Instruments (Investment in Foreign Equity Securities as permitted by SEBI/RBI) Medium to High 90%-100%
Fixed Income Securities (including Money Market Instruments) Low to medium 0%-10%
Plan B
Instrument Risk Profile Range
(% of net assets)
Equity and Equity related Instruments (Investment in Indian equity and equity related securities- 65%-75%, Investment in Foreign Equity Securities as permitted by SEBI/RBI- 25%-35%) Medium to High 90%-100%
Fixed Income Securities (including Money Market Instruments) Low to medium 0%-10%
Plan A & Plan B do not intend investing in units of overseas Mutual Fund. Plan B could be suitable for investors who are looking at tax efficiency.
Saturday, February 23, 2008
Sebi nod to Indiabulls to start AMC
Sebi nod to Indiabulls to start AMC
February 22, 2008
Indiabulls Financial Services has received approval from Securities and Exchange Board of India (Sebi) to set up an asset management company (AMC).
Indiabulls Credit Services (ICSL), which was in the consumer finance sector, was merged with Indiabulls Financial Services (IBFSL) and Indiabulls Securities (ISL) was hived off from IBFSL.
February 22, 2008
Indiabulls Financial Services has received approval from Securities and Exchange Board of India (Sebi) to set up an asset management company (AMC).
Indiabulls Credit Services (ICSL), which was in the consumer finance sector, was merged with Indiabulls Financial Services (IBFSL) and Indiabulls Securities (ISL) was hived off from IBFSL.
Friday, February 22, 2008
Reliance Capital new fund offer mops up Rs 5,660 crore
Feb. 15
Reliance Capital Asset Management Company has mopped up Rs 5,660 crore through Reliance Natural Resources Fund (RNRF) — the second largest collection by any new fund offer.
http://www.thehindubusinessline.com/2008/02/16/stories/2008021652231500.htm
Reliance Capital Asset Management Company has mopped up Rs 5,660 crore through Reliance Natural Resources Fund (RNRF) — the second largest collection by any new fund offer.
http://www.thehindubusinessline.com/2008/02/16/stories/2008021652231500.htm
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