Monday, February 28, 2011

Union Budget 2011-12 Highlights



· Critical institutional reforms set pace for double-digit growth

· Scaled up flow of resources infuses dynamism in rural economy

· GDP estimated to have grown at 8.6% in 2010-11

· Exports grown by 9.6%, imports by 17.6% in April-January 2010-11 over corresponding period last year

· Indian economy expected to grow at 9% in 2011-12.

· Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption

· Public Debt Management Agency of India Bill to come up next financial year

· Direct Tax Code (DTC) to be effective from April 01, 2012
· Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted

· Rs.40,000 crore to be raised through disinvestment in 2011-12

· FDI policy to be liberalized further

· SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement

· FII limit for investment in corporate bonds in infrastructure sector raised

· Additional banking license to private sector players proposed

· Rs.6000 crore to be provided in 2011-12 for maintaining minimum Tier I Capital to Risk Weighted Asset Ratio (CRAR) of 8% in the

public sector banks

· Rs.500 crore to be provided to regional rural banks to maintain 9% CRAR

· India Microfinance Equity Fund of Rs.100 crore to be created by SIDBI

· Rs. 500 crore Women SHG Development Fund to be created

· Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore provided to SIDBI and Rs.3000 crore to NABARD

· Existing housing loan limit enhanced to Rs.25 lakh for dwelling units

· Provision under Rural housing Fund enhanced to Rs.3000 crore

· Allocation under Rashtirya Krishi Vikas yojna (RKVY) increased to Rs.7860 crore

· Allocation of Rs.300 crore to promote 60000 pulses villages in rainfed areas

· Rs. 300 crore vegetable initiative to achieve competitive prices

· Rs.300 crore to promote higher production of nutri-cereals

· Rs.300 crore to promote animal based protein

· Rs.300 crore Accelerated Fodder Development Programme to benefit farmers in 25000 villages

· Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore

· Rs.10,000 crore for NABARD’s Short Term Rural Credit Fund for 2011-12

· 15 more mega food parks during 2011-12

· National food security bill to be introduced this year

· Capital investment in storage capacity to be eligible for viability gap funding

· 23.3% increase in allocation for infrastructure

· Tax-free bonds of Rs.30,000 crore proposed by government undertakings

· Environmental concerns relating to infrastructure projects to be considered by Group of Ministers

· National Mission for Hybrid and Electric Vehicles to be launched

· 7 Mega clusters for leather products to be set up

· Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation

· Bharat Nirman allocation increased by Rs.10,000 crore

· Rural broadband connectivity to all 2.5 lakh panchayats in three years.

· Bill to amend Indian Stamp Act to introduce. Rs.300 crore scheme for modernization stamp and registration administration

· Significant increase in remuneration of Angawadi workers and helpers

· Allocation for education increased by24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40%

· 1500 institute of higher learning to be connected by March 2012 with Knowledge Knowledge Network.

· National Innovation Council set up. Additional Rs.500 crore for National Skill Development Fund

· Plan allocation for health stepped up by20%

· Indira Gandhi National Old Age Pension Scheme liberalized further

· Rs.200 crore for Green India Mission

· Rs.200 crore for cleaning of rivers

· Rs.8000 crore provided for development needs of J&K

· 10 lakhs Aadhaar(UID) numbers to be generated everyday from 1st October

· Fiscal deficit kept at 4.6% of GDP for 2011-12

· Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000

· Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption · Surcharge on corporate lowered to 5

Thursday, February 24, 2011

Invest in SBI Capital Protection Oriented Fund - Series II today!



The fund helps you protect your money while giving it an opportunity to grow. The fund’s portfolio is structured in such a way that it is oriented towards protection of the capital. However, there is no bank guarantee, insurance cover etc. for the same. The fund will invest predominantly in debt and debt related instruments & money market instruments with an option of investing up to 26% in equity and equity related instruments including derivatives. SBI Capital Protection Oriented Fund – Series II can thus capture the best of both the worlds i.e. Equity and Debt while endeavouring for capital protection.

Why invest in SBI Capital Protection Oriented Fund – Series II?

Quality Debt Portfolio
Investment only in G secs and AAA/P1+ or equivalent rated securities.

Growth Potential
Equity asset class will be actively managed through investments in stocks listed on NSE and BSE having a market capitalisation equal to or higher than the market capitalisation of the least market capitalised stock of the BSE 100 Index.

Tax Efficiency
Avail indexation benefits & better post tax returns. Long term capital gains will be taxed @ 20% (plus surcharge & cess) with indexation benefit or 10% (plus surcharge and cess) without indexation benefit, whichever is beneficial to the investor.

Rated mfAAA (SO) by ICRA
The rating indicates highest degree of certainty regarding payment of face value of investment to unit holders on maturity.

It's time for dividends in Birla Mutual Fund Schemes


It's time for dividends


Birla Sun Life MNC Fund
(An Open ended Growth Scheme)
Rs. 5.25/- per unit Dividend declared on
February 25, 2011 (Record Date)
Birla Sun Life India Opportunities Fund
(An Open ended Growth Scheme)
Rs. 1.25/- per unit Dividend declared on
February 25, 2011 (Record Date)
Birla Sun Life Dividend Yield Plus
(An Open ended Growth Scheme)
Re. 0.60/- per unit Dividend declared on
February 25, 2011 (Record Date)
After the payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any.
Past performance may or may not be sustained in the future
The increased interest from foreign investors & positive outlook of India’s industries suggest that India’s economy is set for a promising growth.

This is a good opportunity for you and your family/friends to potentially gain from this growth.

To know more or invest in any of our schemes, we request you to contact your financial advisor.

Dividend in Kotak Mid-Cap

Kotak Mutual Fund has announced a dividend of 15% (Rs. 1.5 per unit on Face Value of Rs.10), under the dividend option of Kotak Midcap Fund.

The record date for the dividend as been fixed as February 28, 2011.

All investors registered under the dividend option of Kotak Midcap Fund as on February 28, 2011 will receive this dividend.

The NAV of the scheme under the dividend option as on February 23, 2011 was Rs 16.228.

Reliance Mutual funds announces dividend in equity schemes



Thursday, February 17, 2011

SBI Capital Protection Oriented Fund – Series II

SBI Capital Protection Oriented Fund – Series II which helps you protect your money while giving it an opportunity to grow. The fund’s portfolio is structured in such a way that it is oriented towards protection of the capital. However, there is no bank guarantee, insurance cover etc. for the same. The fund will invest predominantly in debt and debt related instruments & money market instruments with an option of investing up to 26% in equity and equity related instruments including derivatives. SBI Capital Protection Oriented Fund – Series II can thus capture the best of both the worlds i.e. Equity and Debt while endeavoring for capital protection.




               NFO Period: Opens on 18th February 2011 Closes on 4th March 2011
Why invest in SBI Capital Protection Oriented Fund – Series II?




Quality Debt Portfolio
Investment only in G secs and AAA/P1+ or equivalent rated securities.


Growth Potential
Equity asset class will be actively managed through investments in stocks listed on NSE and BSE having a market capitalisation equal to or higher than the market capitalisation of the least market capitalised stock of the BSE 100 Index.


Tax Efficiency
Avail indexation benefits & better post tax returns. Long term capital gains will be taxed @ 20% (plus surcharge & cess) with indexation benefit or 10% (plus surcharge and cess) without indexation benefit, whichever is beneficial to the investor.


Rated mfAAA (SO) by ICRA
The rating indicates highest degree of certainty regarding payment of face value of investment to unit holders on maturity.

Wednesday, February 16, 2011

HDFC mutual Fund Launching for the first time in India, a Fund that helps fight cancer

HDFC Mutual Fund is attempting something very unique and new which is beyond just making money out of the investment made which is charity.

The new fund will come in a package along with tax benefits and is a three-year close-ended capital protection debt scheme. As per the offer document, management fee also would not be charged by the asset management company. 

HDFC Debt Fund for Cancer Cure is a three-year close-ended capital protection oriented income scheme. An investor will have an option of donating the dividends earned, on his investments, either partly or wholly, to ICS.

The donation of dividend to ICS is eligible for tax deduction under Section 80G of Indian Income-tax Act, 1961.

The new issue will be launched on 18th February and will close on 4th March. HDFC Mutual Fund, as a part of its contribution towards this social objective, would not levy any investment and advisory fee to manage the Fund and would also bear the distribution and marketing costs.

Saturday, February 12, 2011

HDFC Core & Satellite Fund - Dividend Declaration



HDFC Trustee Company Limited, the Trustee to HDFC Mutual Fund has announced dividend in the following scheme.  
Scheme Name Dividend amount
(per unit) #
Dividend option NAV (per unit) # NAV
(per unit)
as on
HDFC Core & Satellite Fund - Dividend Option 2.00 21.463 10th February, 2011

# The above dividend will be subject to the availability of distributable surplus and may be lower to the extent of distributable surplus available on the Record Date.
  Face value 10 (per unit)

Record Date : Thursday, February 17, 2011*
* or the immediately following Business Day if that day is not a Business Day.   Pursuant to payment of dividend, the NAV of the Dividend Option of the above Scheme would fall to the extent of payout and statutory levy, if any.   Income distribution / Dividend will be paid to those Unit holders whose names appear in the Register of Unit holders under the Dividend Option of the aforesaid Scheme on the record date (including valid purchase / switch-in applications received till 3.00 p.m. in respect of the aforesaid Scheme, on the record date, subject to realization of cheques / demand drafts).

With regard to Unit holders under the Dividend Option of the aforesaid Scheme, who have opted for Dividend Reinvestment facility, as applicable, the dividend due will be reinvested by allotting Units for the Income distribution / Dividend amount at the prevailing ex-dividend NAV per Unit on the record date.

However, if the dividend amount payable to the Unitholders under the Dividend Payout Option of HDFC Core & Satellite Fund, is equal to or less than the threshold limit of 500, then such dividend amount will be compulsorily & automatically reinvested in the said Scheme.

Intimation of any change of address / bank details should be immediately forwarded to the Investor Service Centres (ISCs) of HDFC Mutual Fund.                                                          



Friday, February 11, 2011

IDFC Infrastructure Fund


Kotak Fmp Series 36

Kotak Fmp Series 36

NFO details: Feb 15, 2011 - 17th Feb 2011


INVESTMENT OBJECTIVE


The investment objective of the Scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The Scheme will invest in debt and money market securities, maturing on or before maturity of the scheme. There is no assurance that the investment objective of the scheme will be achieved.

SCHEME TYPE

Close ended debt scheme

MINIMUM INVESTMENT DURING NFO
Rs. 5,000/- and in multiples of Rs 10 for purchase and switch-ins.

OPTIONS

Growth and Dividend Payout.

LISTING
The units of the scheme will be listed on NSE on allotment and maybe on other stock exchanges also.

BENCHMARK
CRISIL Short Term Bond Index.

LIQUIDITY
Units of this scheme will be listed on National Stock Exchange. Investors may sell their units in the stock exchange(s) on which these units are listed on all the trading days of the stock exchange. The units cannot be redeemed with KMMF until the maturity of the scheme.

MATURITY
370 days after the date of allotment of units.

COLLECTION CENTRE
Purchases /Switches: At KMAMC Authorized collection centers, CAMS investor service centers & CAMS transaction points as indicated on the back cover of the SID. Kindly ensure that the switch request is accompanied with the investment application form of Kotak FMP Series 36

Risk Factors:
Kotak FMP Series 36 (A close ended debt scheme). Investment Objective: - To generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme Asset Allocation: Debt and Money Market instruments and government securities – 100% Load Structure: Exit Load: Nil Units of this scheme will be listed on National Stock Exchange. Investors may sell their units in the stock exchange(s) on which these units are listed on all the trading days of the stock exchange. The units cannot be redeemed with KMMF until the maturity of the scheme. NAV of the scheme shall be calculated daily. Scheme Specific Risk Factors: The Scheme will invest entirely in Debt/ Money Market Instruments and Government securi ties. Liquidity in these investments may be affected by trading volumes, settlement periods and transfer procedures. These factors may also affect the Scheme's ability to make intended purchases/sales, cause potential losses to the Scheme and result in the Scheme missing certain investment opportunities. NSE Disclaimer: - It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Draft Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of the Disclaimer Clause of NSE. Risk Factors: Mutual Fund and securities investments are subject to market risks and there is no assurance or guarantee that the objective of the Scheme would be achieved. As with any secu rities investment, the NAV of the Units issued under the Scheme can go up and down depending on the factors and forces affecting the securities markets. Past performance of the Sponsor/AMC/Fund or that of existing schemes of the Fund does not indicate the future performance of the Scheme. Kotak FMP Series 36 is only the name of the scheme and do not in any manner indicate either the quality of the scheme, its future prospects and returns. Statutory Details: Kotak Mahindra Mutual Fund is a Trust (Indian Trust Act, 1882). Investment Manager: Kotak Mahindra Asset Management Company Ltd. Sponsor: Kotak Mahindra Bank Ltd. (liability Rs. Nil). Kotak Mahindra Bank Limited is not liable or responsible for any loss or shortfall resulting from the operations of the Scheme Trustee: Kotak Mahindra Trustee Company Ltd. Please read the Scheme Information Document (SID) and Statement of Additi onal Information (SAI) of the scheme carefully before investing. SID & SAI available on mutualfund.kotak.com.

KYC Procedure


  • Visit your nearest Karvy  or Computer share Investor Service Center (cams)
  • Collect & fill all the details in the KYC application form and submit it across the counter to a Karvy or Computer share Customer Care Representative.(cams)
Supporting Documents need to submit along with the KYC application
  • Self attested PAN card copy
  • Proof of Identity
  • Proof of Address 


Know Your Customer (KYC)


Know Your Customer (KYC) is a process introduced by SEBI as part of the Prevention of Money Laundering Act (PMLA). Under this, all Mutual Funds are required to comply to the KYC guidelines wherein they are required to perform customer due diligence for all their investors. Earlier, KYC was mandatory for Mutual Fund investments of Rs. 50,000 and above but now KYC has been made mandatory for investments of all amounts.

From what date is it mandatory for an investor to be KYC Compliant?



From what date is it mandatory for an investor to be KYC Compliant?

With effect from January 1, 2011, any investor investing in Mutual Fund schemes would be required to be KYC compliant.      

KYC is an acronym for "Know your Client", a term commonly used for Client Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to "know" their Clients. This would be in the form of verification of identity and address, providing information of financial status, occupation and such other demographic information. Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.



What are the KYC requirements for a Mutual Fund Investor?


Individual investors will have to produce his:

 Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport, driving license etc.) and Proof of Address (any valid documents listed in section B of the KYC Application Form for Individuals). 



A KYC Application Form has been designed for Individual and Non-Individual Investors separately. The soft copy of these KYC forms will be made available on the website of all mutual funds, AMFI and Central Depository Services (India) Limited (CDSL). You may also approach your distributor for a form. It is important to read the instructions printed on the KYC Application Form while filling-up the form.

      

Tata fixed maturity plan series - 31 Scheme A

Tata fixed maturity plan series - 31 Scheme A
Issue of Units of Tata Fixed Maturity Plan Series 31 Scheme A
(366 days maturity) at Face Value of ` 10/- Per Unit during the New Fund Offer Period


NEW FUND OFFER OPENS ON : 15th February, 2011
NEW FUND OFFER CLOSES ON: 21st February, 2011

Investment Objective
The investment objective of the scheme is to generate income and / or capital appreciation by investing in wide range of Debt and Money Market instruments having maturity in line with the maturity of the scheme. The maturity of all investments shall be equal to or less than the maturity of respective scheme.






YOUR RIGHTS AS A MUTUAL FUND UNIT HOLDER


YOUR RIGHTS AS A MUTUAL FUND UNIT HOLDER


1. Receive unit certificates or statements of accounts confirming your title within 30 days from the date of closure of the subscription under open-ended schemes or within 6 weeks from the date your request for a unit certificate is received by the Mutual Fund.

2. Receive information about the investment policies, investment objectives, financial position and general affairs of the scheme.

3. Receive dividend within 30 days of their declaration and receive the redemption or repurchase proceeds within 10 working days from the date of redemption or repurchase.

4.Vote in accordance with the Regulations to: a.change the Asset Management Company; b.wind up the schemes.

5. Receive communication from the Trustees about change in the fundamental attributes of any scheme or any other changes which would modify the scheme and affect the interest of the unit holders and to have option to exit at prevailing Net Asset Value without any exit load in such cases.

6. Inspect the documents of the Mutual Funds specified in the scheme’s offer document. In addition to your rights, you can expect the following from Mutual Funds:

To publish their NAV, in accordance with the regulations: daily, in case of open-ended schemes and once a week, in case of close ended schemes.

To disclose your schemes’ entire portfolio twice a year, unaudited financial results half yearly and audited annual accounts once a year.

In addition many mutual funds send out newsletters periodically. To adhere to a Code of Ethics which require
that investment decisions are taken in the best interest of the unit holders.


What things to consider before investing in Mutual funds


Step One: Identify your investment needs.


Your financial goals will vary, based on your age, lifestyle, financial independence, family commitments, level of income and expenses among many other factors. Therefore, the first step is to assess your needs. Begin by asking yourself these questions:

How to measure Mutual Fund performance?


1. What are my investment objectives and needs?

Probable Answers: I need regular income or need to buy a home or finance a wedding or educate my children or a combination of all these needs.

2.How much risk am I willing to take?
Probable Answers: I can only take a minimum amount of risk or I am willing to accept the fact that my investment value may fluctuate or that there may be a short term loss in order to achieve a long term potential gain.

3.What are my cash flow requirements?
Probable Answers: I need a regular cash flow or I need a lump sum amount to meet a specific need after a certain period or I don’t require a current cash flow but I want to build my assets for the future.


By going through such an exercise, you will know what you want out of your investment and can set
the foundation for a sound Mutual Fund Investment strategy.

Types of risks associated with Mutual Fund Investment!!



Step Two: Choose the right Mutual Fund.


Once you have a clear strategy in mind, you now have to choose which Mutual Fund and scheme you want to invest in. The offer document of the scheme tells you its objectives and provides supplementary details like the track record of other schemes managed the same Fund Manager. Some factors to evaluate before choosing a particular Mutual Fund are:


  • the track record of performance over the last few years in relation to the appropriate yardstick and similar funds in the same category.
  • how well the Mutual Fund is organised to provide efficient, prompt and personalized service.
  • degree of transparency as reflected infrequency and quality of their communications.

A Systematic Investment Plan (SIP) Why it is good for you?

Step Three- Invest regularly
For most of us, the approach that works best is to invest a fixed amount at specific intervals, say every month. By investing a fixed sum each month, you get fewer units when the price is high and more units when the price is low, thus bringing down your average cost per unit. This is called rupee cost averaging and is a disciplined investment strategy followed by investors all over the world. With many open-ended schemes offering systematic investment plans, this regular investing habit is made easy for you.

Tax Implications on Mutual Fund Gains


Step Four - Keep your taxes in mind

As per the current tax laws, Dividend/Income Distribution made by mutual funds is exempt
from Income Tax in the hands of investor. However, in case of debt schemes Dividend/ Income Distribution is subject to Dividend Distribution Tax. Further, there are other benefits available for investment in Mutual Funds under the provisions of the prevailing tax laws.You may therefore consult your tax advisor or Chartered Accountant for specific advice to achieve maximum tax efficiency by investing in mutual funds.



Step Five - Start early
It is desirable to start investing early and stick to a regular investment plan. If you start now, you will make more than if you wait and invest later. The power of compounding lets you earn income on income and your money multiplies at a compounded rate of return.

How to measure Mutual Fund performance???


Step Six-The final step
All you need to do now is to get in touch with a Mutual Fund or your advisor and start investing.
Reap the rewards in the years to come. Mutual Funds are suitable for every kind of investor whether
starting a career or retiring, conservative or risk taking, growth oriented or income seeking.

Then what documents you require for investing in mutual funds

Basic things required for investment in mutual funds in India 

http://mutual-funds-personalfin.blogspot.in/2011/06/how-to-start-investing-in-mutual-funds.html

 

How to invest in mutual Funds in India??? How to fill up the application form???

 

 




Thursday, February 10, 2011

TEN ADVANTAGES OF INVESTING IN MUTUAL FUNDS

TEN ADVANTAGES OF INVESTING IN MUTUAL FUNDS



  1. Professional Management
  2. Diversification
  3. Convenient Administration
  4. Return Potential
  5. Low Costs
  6. Liquidity
  7. Transparency
  8. Flexibility
  9. Choice of Schemes
  10. Well Regulated


Wednesday, February 9, 2011

Invest in Sip in "Reliance Gold Savings Fund" without having demat account.

Reliance Mutual Fund is launching its Gold Savings Fund, a first-of -its-kind investment scheme focused on gold, to tap a market that it expects to become bigger than even equity mutual funds. 

The main attraction is that, unlike other ETF gold funds, the new fund offer does not require any demat account or locker.

This fund that is Reliance Gold Savings fund is very different existing gold investments in Exchange Traded Fund (ETF) that require subscribers to have a demat account, will also offer investors the option to invest as little as Rs 100 per month, the company said here. 

The fund allows small regular investments of as low as Rs.100 per month and in multiples of Re.1 thereafter.

Reliance Gold Savings Fund will enable investments in gold without any locker or demat account -- a first in the country. 

The scheme's performance will be bench marked against the price of physical gold. 

The investors will not be charged any entry load on the fund, though there would be a 2 per cent exit load if redeemed before completion of the first year. 

Fund Details:

The launch of the New Fund Offer
The offer for the funds opens Feb 14 and closes on Feb 28. 

 Tax Treatment
Investment in the fund will provide the investor long-term taxation benefits from first year, unlike physical gold wherein long-term taxation concession can be availed only after three years. 

Entry Load:
Nil
Exit Load
The exit load is 2 percent, if the investor redeems or switches out on or before completion of first year from the date of allotment of units. 

Benchmark:
The scheme’s performance will be bench marked against the prices of physical gold.

 

Income Tax - Permanent Account Number (PAN) is now Mandatory for all Mutual Fund Investors (wef July 2nd 2007)

Income Tax - Permanent Account Number (PAN) is now Mandatory for all Mutual Fund Investors  
(wef July 2nd 2007) 



Applicable from : July 2nd 2007
Scope                :New purchase, Additional purchase, Fresh SIP and Subsequent SIPs



Check KYD Status



 

AMFI vide Circular 35P/ MEM-COR/ 13/ 10-11 dated August 27, 2010, has decided to introduce Know Your Distributor (KYD) for Mutual Fund Distributors with effect from September 1, 2010, which will be similar to that of Know Your Client (KYC) for investors. KYD process requires distributors to submit mandatorily identity proof, address proof, PAN and bank account details with proof. Further AMFI has also decided to introduce bio-metrics as a part of KYD process.

The prescribed form for KYD and updation of information such as change of address, contact details, bank account, etc. are available on AMFI Website.



Know Your Distributor (KYD) is a process set out by AMFI to strengthen the registration procedure and to ensure correctness of information in the ARN registration application. This is now Mandatory and applicable for all registered Distributors as well as new applicants and renewal applicants.

To know the KYD completed status of a Distributor, please enter Permanent Account Number (PAN) or AMFI Registration Number (ARN)




How to Go ahead with KYC Process
 The KYD requirements can be completed by filling up the prescribed form and submitting the same along with the other requisite details/proof (attested true copies of supporting documents relating to proof of identity and address for verification with the originals) to any of the CAMS Point of Service (CAMS POS).

The POS will verify the above copies against the original documents, and a KYD acknowledgement will be issued. Presently there would be no charge to the ARN holders for carrying out the KYD process.

Further, AMFI has also decided to introduce bio-metrics as a part of KYD process.
As a process, the impression of your right hand index finger will be registered for identification purposes. This will be carried out at the CAMS POS, at the time of submission of the KYD form.




KYD Process
1)Distributors have to visit nearest CAMS POS with duely completed KYD applications, self attested photocopies of relevant documents and 2 self attested passport size color photographs.
2)Also carry original documents and get the photocopies verified with original by CAMS official.
3)Obtain the acknowledgement from the CAMS POS confirming completion of KYD process.
4)The existing ARN holders will have to send photocopy of the said acknowledgement to the AMCs with which you are empanelled.


KYD Forms 

List of Cams POS
Refer this link: List of cams POS
 

 

How to select Best Mutual Fund?

Mutual fund is the best investment tool for the retail investor as it offers the twin benefits of good returns and safety as compared with other avenues such as bank deposits or stock investing.

Having looked at the various types of mutual funds, one has to now go about selecting a fund suiting your requirements.

Choose the wrong fund and you would have been better off keeping money in a bank fixed deposit.

Keep in mind the points listed below and you could at least marginalize your investment risk.

When choosing a mutual fund, you should consider how your interest in that fund affects the overall diversification of your investment portfolio. Maintaining a diversified and balanced portfolio is key to maintaining an acceptable level of risk.
  • Read the prospectus

  • Know your fund manager

  •  Previous Track Record of that fund

  • Does it suit your risk profile

 

Best Gold Exchange Traded Funds

Gold Exchange Traded Funds
Fund NameFund HouseCategoryStar RatingRisk GradeReturn Grade1 Year
Return
SBI Gold ETSSBI Mutual FundGold (ETF)0Unrated----24.41
Reliance Gold ETFReliance Mutual FundGold (ETF)0Unrated----24.4
UTI Gold ETFUTI Mutual FundGold (ETF)0Unrated----24.39
Kotak Gold ETFKotak Mahindra Mutual FundGold (ETF)0Unrated----24.36
Gold Benchmark ETFBenchmark Mutual FundGold (ETF)0Unrated----24.34

Religare FMP Series V Plan D (13 months) - NFO opening on February 10, 2011

Religare Mutual Fund will launch Religare Fixed Maturity Plan - Series V - Plan D (13 Months), a close ended debt scheme, on February 10, 2011. Please find below the details of the NFO.
ü  NFO Opens: February 10, 2011
ü  NFO Closes: February 17, 2011.
ü  Tenure of the Scheme: 13 Months from the date of allotment (including the date of allotment).
 

Also, please find enclosed herewith is the KIM & Application Form for Religare Fixed Maturity Plan Series V - Plan D - (13 months) for your perusal.

For any support or assistance, you may call Religare Mutual Fund Relationship Manager or visit Religare website at www.religaremf.com


 

NFO - Birla Sun Life FTP - Series CP (368 Days) Opens - 8 Feb 2011 & Closes - 17 Feb 2011


NFO - Birla Sun Life FTP - Series CP (368 Days) Opens - 8 Feb 2011 & Closes - 17 Feb 2011

Please find details of  BSL FTP - Series CP (368 Days)

NFO Subscription Period                        : 8th February 2011 to 17th February 2011

Imp Operational Instructions:
* Appl. with MICR Cheques will be accepted upto 9-Feb-11 till 6.00 pm
* From 10-Feb-11, Appls. with only Transfer Cheques (Citi, HDFC, ICICI & Stan. Chart.) & Electronic / RTGS instructions would be accepted.
* Switch will be accepted as per below matrix



Indicative Date of Allotment                        : 18th February 2011

Duration                                        : 368 Days from the Date of Allotment

Indicative Date of Maturity                        : 28th February 2012

Minimum Appl Amount                          : Rs.5,000/- & in multiples of Rs. 10/- thereafter
                                   
Indicative Asset Allocation                        : Debt Securities and Money Market Instruments - 100%

Benchmark                                        : CRISIL Short Term Bond Fund Index

Fund Manager                                : Kaustubh Gupta

Dividend Announced - DSP BlackRock Opportunities Fund

Dividend Announced - DSP BlackRock Opportunities Fund

The Trustees of DSP BlackRock Mutual Fund have declared a tax-free dividend as follows:

Scheme                             DSP BlackRock Opportunities Fund - Regular Plan (Dividend Option)
Dividend per unit               Rs. 2.00/-
Face Value per Unit           Rs. 10/- per Unit
Record date                      Feb 11, 2011
NAV (as on Feb 04, 2011)       Rs. 28.979


The dividend shall be payable only to those Unit Holders whose names appear in the register of Unit Holders of the Regular Plan of DSP BlackRock Opportunities Fund - (Dividend Option) as on Feb 11, 2011. Applications for subscription, redemption, switch-ins and switch-outs for the scheme will be accepted on Feb 11, 2011, subject to them being complete in all respects and received prior to 3.00 p.m.

Distribution of the above Dividend is subject to the availability and adequacy of distributable surplus. Pursuant to payment of Dividend, the NAV of the Regular Plan of the Scheme (Dividend Option) will fall to the extent of payout and statutory levy, if any.

DSP BlackRock Opportunities Fund (DSPBROF) is an open ended growth Scheme, seeking to generate long term capital appreciation and whose secondary objective is income generation and the distribution of dividend from a portfolio constituted of equity and equity related securities concentrating on the investment focus of the Scheme. Asset Allocation: Equity and equity related securities: 80%-100%; Fixed income securities (Debt & money market securities): 0%-20% (Debt securities/instruments are deemed to include securitised debts). Features: SIP only in Regular Plan, SWP & STP available in each plan of the scheme. Nomination facility available, subject to applicable conditions as per the Statement of Additional Information (SAI) and Scheme Information Document (SID). Declaration of NAV on all Business Days. Redemption normally within 3 Business Days. Sale and Redemption of Units on all Business Days at Purchase Price and Redemption Price respectively. Minimum investment: Rs. 5,000/- (Reg. Plan)/Rs. 1 crore (Inst. Plan). Entry load: NIL. Exit load: Holding Period < 12 months: 1%, Holding Period >= 12 months: NIL. Statutory Details: DSP BlackRock Mutual Fund was set up as a Trust and the settlors/sponsors are DSP ADIKO Holdings Pvt. Ltd. & DSP HMK Holdings Pvt. Ltd. (collectively) and BlackRock Inc. (Combined liability restricted to Rs. 1 lakh). Trustee: DSP BlackRock Trustee Company Pvt. Ltd. Investment Manager: DSP BlackRock Investment Managers Pvt. Ltd. Risk Factors: Mutual funds, like securities investments, are subject to market and other risks and there can be no assurance that the Scheme’s objectives will be achieved. As with any investment in securities, the NAV of Units issued under the Scheme can go up or down depending on the factors and forces affecting capital markets. Past performance of the sponsor/AMC/mutual fund does not indicate the future performance of the Scheme. Investors in the Scheme are not being offered a guaranteed or assured rate of return. Each Scheme/Plan is required to have (i) minimum 20 investors and (ii) no single investor holding>25% of corpus. If the aforesaid point (i) is not fulfilled within the prescribed time, the Scheme/Plan concerned will be wound up and in case of breach of the aforesaid point (ii) at the end of the prescribed period, the investor’s holding in excess of 25% of the corpus will be redeemed as per SEBI guidelines. DSPBROF is the name of the Scheme and does not in any manner indicate the quality of the Scheme, its future prospects or returns. For scheme specific risk factors, please refer the Scheme Information Document (SID). For more details, please refer the Key Information Memorandum cum Application Forms, which are available on the website, www.dspblackrock.com, and at the ISCs/Distributors. Please read the Scheme Information Document and Statement of Additional Information carefully before investing.

New Fund Offer: DSP BlackRock FMP - 12M - Series 14

New Fund Offer: DSP BlackRock FMP - 12M - Series 14
Opens: February 08, 2011
Closes: February 14, 2011




DSP BlackRock FMP – 12M – Series-14
Date of Opening
Feb 08, 2011 (Tuesday)
Date of Closing*
Feb 14, 2011(Monday)
– All switches needed to submitted before 3:00 p.m. on the closing date.
– All applications need to be submitted before 4.00 p.m. on the closing date.
Options
Growth (Default option) and Div Payout
Min Application
Rs.10, 000/- and multiples of Rs.10 thereafter
Date of Maturity                     
Feb 20, 2012 (Monday)
Date of payout
Feb 21, 2012 (Tuesday)
Listing
The units are proposed to be listed on NSE or any other recognized Stock Exchange as may be approved by the Trustee, within 5 business days from the date of allotment.
Loads

Entry Load – NIL
Exit Load – Not Applicable (The Units under the Schemes cannot be directly redeemed with the Mutual Fund as the Units will be listed on the Stock Exchange/s).



Friday, February 4, 2011

How Gold Exchange Traded Funds are treated from tax point of view???



When computing income tax, gold ETFs are treated as debt funds, not equity. 

On redemption, the units of gold ETFs held for more than a year qualify for a long-term capital gain tax of 11.33 per cent without indexation or 22.66 per cent with indexation which ever is lower.

 If you have made a short-term gain, which applies when the holding is less than a year, the short-term capital gain will be clubbed with the income of the individual investor, to be taxed in line with the applicable tax slab of the investor. 

So, the short-term capital gains will get added to your income and be taxed as per the income bracket you fall under.

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