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Re-opening of Premier Equity Fund


Declaration of Dividend in Birla Sun Life Tax Relief '96






























Birla Sun Life AMC Ltd proposes to declare dividend in Birla Sun Life Tax Relief '96 on 31 March 2011.


The details of the Dividends are:

Scheme Name - Birla Sun Life Tax Relief '96
Dividend Amt - Rs. 4/- per unit.


Notice dated: March 25, 2011 - Record date for dividend in Birla Sun Life Tax Relief '96

Dividend in Taurus Tax Shield


Implementation of AMFI Guidelines - Effective April 1 2011

NISM Recommendations on “Operational Risk Issues in Mutual Fund Investor Service Processes”

As communicated vide the referred Guidelines, AMFI had constituted a working group for implementation of NISM Recommendations on "Operational Risk Issues in Mutual Fund Investor Service Processes".The working group has specified a uniform set of guidelines which broadly covers the following areas:

A. Where Accounts are opened "On Behalf of Minor"

B. When "Minor attains Majority"

C. Change of Guardian

D. Nomination facility

E. Transmission

On each of the above area, AMFI vide the said Guidelines has specified the process/procedure to be uniformly followed (effective April 1, 2011) by the AMCs, including the requirements to be sought from the investors and the formats where required.

Request to kindly take note of the contents of the said AMFI Guidelines (copy of which is enclosed herewith)
New Bank Mandate Details with Attestation from Bank Branch Manager
for due compliances and also for suitably apprising the customers of the requirements specified therein; and as may be applicable to them.

Kindly also note that pursuant to the said Guidelines we are in the process of carrying out necessary amendments to the investor related documents. Also an appropriate Notice Advertisement shall also be issued in due course. You shall be duly apprised of the same.




Dividend under Reliance Growth and Reliance Quant Plus













Merger of various equity schemes: JM Financial Mutual Fund


JM Financial Mutual Fund has decided to do following Mergers in various equity schemes, the details are as follows:

  • Merger of JM Agri & Infra Fund and JM Hi Fi Fund into JM Basic Fund 
  • Merger of JM Financial Services Sector Fund, JM Large Cap Fund and JM Telecom Sector Fund into JM Equity Fund. 
  • Merger of JM Contra Fund, JM Mid Cap Fund and JM Small & Mid Cap Fund into JM Multi Strategy Fund. 

Investors, who do not agree with the revision, have an option to redeem or switch their units between March 3, 2011 and April 1, 2011, without paying any exit load.

Investors, who do not redeem or switch out, the current value of their holding as on April 1, 2011 will be converted into units of respective scheme, by allotting units at the applicable NAV as on April 2, 2011.

Dividend Declared in DSP BlackRock Natural Resources and New Energy Fund


Dividend Announced - DSP BlackRock Natural Resources and New Energy Fund

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

Scheme                             DSP BlackRock Natural Resources and New Energy Fund Regular Plan- Dividend Option
Dividend per unit               Rs. 1.50/-
Face Value per Unit           Rs. 10/- per Unit
Record date                      Mar 25, 2011
NAV (as on Mar 17, 2011)       Rs. 13.805


The dividend shall be payable only to those Unit Holders whose names appear in the register of Unit Holders of DSP BlackRock Natural Resources and New Energy Fund – Regular Plan - Dividend Option as on Mar 25, 2011. Applications for subscription, redemption, switch-ins and switch-outs for the scheme will be accepted on Mar 25, 2011, subject to them being complete in all respects and received prior to the relevant cut-off time.

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

Dividend Declaration in Reliance Vision Fund and Reliance Diversified Power Sector Fund




The Trustees of Reliance Mutual Fund (RMF) has approved declaration of dividend on the face value of Rs. 10/- per unit in the undernoted schemes of RMF with March 18, 2011 as the record date.


  • Reliance Vision Fund - Retail Plan - Dividend Option 
                Dividend (per unit)  Rs. 4.00
                Nav on 10.03.2011 Rs. 41.5051            
    • Reliance Vision Fund - Institutional Plan - Dividend Option
                   Dividend (per unit)  Rs. 4.00
                   Nav on 10.03.2011 Rs. 233.8599

    • Reliance Diversified Power Sector Fund- Retail Plan - Dividend Option 
                   
    Dividend (per unit)  Rs. 1.50
                   Nav on 10.03.2011 Rs. 40.1094

    The record date : 18th March 2011

    http://mutual-funds-personalfin.blogspot.in/2012/03/forthcoming-dividends-in-equity-mutual.html

    Tax Planning and Wealth Creation invest in SBI Magnum Tax Gain Scheme 93

    Tax woes often make life seem like a burden. Don’t we all just wish our hard earned money would be ours, to invest for the future, without worrying about tax? This is why SBI Mutual Fund presents Magnum Taxgain Scheme, an Equity Linked Saving Scheme, for investors who wish to address two critical issues: tax planning and wealth creation. It also owns the distinction of being one of the largest tax saving fund in the country with over 17 lakh* investors.

    Scheme Highlights:
     An open ended ELSS with 3 years lock-in period
    Minimum Application Amount – Rs. 500 & multiples of Rs. 500/-
    Options – Growth & Dividend with Payout & Reinvestment facility
    Asset Allocation - 80 % to 100 % in equity / cumulative convertible preference
    shares / fully convertible debentures and bonds. 0-20% in Money Market Instruments

    Invest through Systematic Investment Plan (SIP)
     Equity markets are known to be volatile and many investors have stayed away for fear of losing their money due to downturn in the markets. With SIP you can invest a small amount every month for a specific time period. Investors can take advantage of rupee-cost-averaging, wherein the effect of short-term volatility of the market is compensated effectively. Also starting early gives you the benefit of compounding for long term wealth creation.Start your SIP in Magnum Taxgain Scheme today and avoid the hassle of last minute tax planning.

    Dividend Announced - DSP BlackRock Small and Mid Cap Fund


    Dividend Announced - DSP BlackRock Small and Mid Cap Fund

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

    Scheme                             DSP BlackRock Small and Mid Cap Fund Regular Plan- Dividend Option
    Dividend per unit               Rs. 1.25/-
    Face Value per Unit           Rs. 10/- per Unit
    Record date                      Mar 18, 2011
    NAV (as on Mar 11, 2011)       Rs. 14.904

    SBI Magnum Tax Gain Scheme has announced dividend for 2011

    SBI Mutual Fund declares dividend in  Magnum Taxgain Scheme 93-Dividend

    Dividend amount     Rs 4.00  (per unit) #


    Dividend option NAV (per unit)       Rs.39.01
    on (10th March 2011) 




    The record date for the dividend is 18 March 2011

    Dividend in HDFC Prudence Fund




    HDFC Trustee Company Limited, the Trustee to HDFC Mutual Fund has announced dividend in the following scheme :


    Scheme Name: HDFC Prudence Fund - Dividend Option

    Dividend amount     3.50  (per unit) #

    Dividend option NAV (per unit)
    on (10th March 2011) 31.398

    # The 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, March 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(s) 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).

    Also refer: Dividend Update In HDFC Prudence Fund in March 2012
     http://mutual-funds-personalfin.blogspot.in/2012/03/dividend-update-dividend-in-hdfc.html

    Fixed Maturity Plans (FMPs)


    Digital Timer, FMP

    Fixed Maturity Plans (FMP’s) provide investors with a good alternative to fixed deposits given that they are More Tax Efficient”. This is especially so during volatile times when investors are likely to be more risk averse.” These schemes are close-ended debt scheme with an objective to seek to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short term debt instruments with a maturity profile generally in line with the Plan’s duration.

    Fixed Maturity Plans (FMPs)
    If an investor has surplus amount to invest, knows the time horizon and wanted to deploy the fund efficiently with least risk of capital & return, but wishes to optimize her investment – Fixed Maturity Plan is the right scheme. Though the returns are not assured, he may expect the prevailing market rates with least risk.

    Why FMP??
    Fixed Tenure: The tenure of FMP is fixed making investing easier for the fund manager.

    Superior returns: FMP’s invest mainly in rated debt instruments where returns*may be higher, an attractive option for risk-averse investors.


    Low risk:Historically, very few AAA corporate bonds have been downgraded to default level (BBB) so there is limited credit risk. FMPs primarily invest in AA and above rated debt papers which lowers credit risk.

    Lower expenses:Generally expenses ratio charged to FMPs is lower.

    Benefits of FMP:

    Protection from “Interest rate risk”
    Rise in interest rates in the economy reduces the NAV of the income fund and vice-versa.
    FMPs mitigate this risk by using a specific investment strategy whereby they invest in instruments that mature in line with the maturity of the FMP.

    Conclusion:
    FMPs eliminate the interest rate risk. Pre-mature withdrawal shall attract exit load. However even bank deposit attract penalty for premature withdrawal. In the current market volatility one can be safe and do not lose sleep in choosing FMPs. With little more planning staggered FMPs shall be more suited for those who plan expenditure.

    Please find below the launch schedule for the upcoming FMP's

    HDFC FMP 370D March 2011 (3)
    Opening Date - 15th March 2011 (Tuesday)
    Closing Date - 16th March 2011 (Wednesday)

    HDFC FMP 182D March 2011 (1)
    Opening Date - 15th March 2011 (Tuesday)
    Closing Date - 16th March 2011 (Wednesday)

    HDFC FMP 370D March 2011 (4)
    Opening Date - 17th March 2011 (Thursday)
    Closing Date - 23rd March 2011 (Wednesday)

    HDFC FMP 370D March 2011 (5)
    Opening Date - 22nd March 2011 (Tuesday)
    Closing Date - 28th March 2011 (Monday)

    HDFC FMP 100D March 2011 (3)
    Opening Date - 22nd March 2011 (Tuesday)
    Closing Date - 24th March 2011 (Thursday)

    HDFC FMP 182D April 2011 (1)
    Opening Date - 5th April 2011 (Tuesday)
    Closing Date - 7th April 2011 (Thursday)

    Available Investment options for NRIs

    Options available for NRIs

    As per the Government of India, NRIs are given the following facilities as far as investment is concerned.

    1) Bank accounts in India

    2) Investment in securities and debts

    3) Investment in immovable properties such as real estate




    Dividend Declaration: HDFC TOP 200 Fund


    HDFC Trustee Company Limited, the Trustee to HDFC Mutual Fund has announced dividend in the following scheme.

    Scheme Name: HDFC Top 200 Fund - Dividend Option

    Dividend amount RS 4 per unit

    Nav 48.173 (on 3rd march 2011)

    # The 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, March 10, 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 the aforesaid Scheme is equal to or less than the threshold limit of 500/-, then such dividend amount will be compulsorily & automatically reinvested in the Scheme.

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


    Also check: Dividend update for March 2012

    Dividend Update: Dividend in HDFC Top 200 and HDFC Capital Builder Fund record date March 07, 2012

     http://mutual-funds-personalfin.blogspot.in/2012/03/dividend-update-dividend-in-hdfc-top.html

     

    Dividend Announced - DSP BlackRock Balanced Fund


    Dividend Announced - DSP BlackRock Balanced Fund

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

    Scheme                             DSP BlackRock Balanced Fund - Dividend Option
    Dividend per unit               Rs. 2.00/-
    Face Value per Unit           Rs. 10/- per Unit
    Record date                       Mar 11, 2011
    NAV (as on Mar 04, 2011)       Rs. 22.851


    The dividend shall be payable only to those Unit Holders whose names appear in the register of Unit Holders of DSP BlackRock Balanced Fund - (Dividend Option) as on Mar 11, 2011. Applications for subscription, redemption, switch-ins and switch-outs for the scheme will be accepted on  Mar 11, 2011, subject to them being complete in all respects and received prior to the relevant cut-off time.

    Be a Dividend Millionaire: A Proven, Low-Risk Approach That Will Generate Income for the Long TermThe Little Book of Big Dividends: A Safe Formula for Guaranteed Returns (Little Books. Big Profits)

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

    Do not pay money to receive large funds from abroad









    The Reserve Bank has today once again issued an advisory cautioning the members of public against responding in any manner to offers of moneys from abroad. It has stated that such offers are fraudulent and has advised the public to immediately register a complaint with the local police/ cyber crime authorities when they receive such offers or become a victim of any such fraud.

    Members of public have also been cautioned against making any remittance towards participation in such schemes/offers from unknown entities since such remittances are illegal and any resident in India collecting and effecting/remitting such payments directly/indirectly outside India is liable to be proceeded against for contravention of the Foreign Exchange Management Act, 1999. They are also liable for violation of regulations relating to Know Your Customer (KYC) norms/Anti Money Laundering (AML) standards.

    The Reserve Bank has further stated that it does not undertake any type of money arrangement, by whatever name called, and it does not take any responsibility for recovering moneys remitted in response to such bogus communication.

    For any further clarification in the matter, the Reserve Bank has advised the public to contact the officials of the Foreign Exchange Department at its various Regional Offices or at its Central Office, Foreign Exchange Department on telephone numbers 022- 22610589 / 22610618 or 2260 1000 extn. 2772 / 2732 during office hours (9.45 hours to 17.45 hours Monday to Friday) or seek clarification by e-mail . The public may also refer to the cautionary advices hosted on the home page of the RBI website (www.rbi.org.in) as a ticker for more information.
    The Reserve Bank has stated that it has urged the Indian Banks’ Association and banks to educate their customers to be extra vigilant with regard to such fictitious offers. Banks have also been advised to take up with law enforcing agencies whenever accounts of their customers are misused for such fraudulent activities.


    How do the Fraudsters operate?
    The Reserve Bank of India has, on several occasions in the past, cautioned the members of public not to fall prey to fictitious offers / lottery winnings / remittance of cheap funds in foreign currency from abroad by so-called foreign entities/ individuals or to Indian residents acting as representatives of such entities/individuals. Describing the manner in which the fraudsters operate, the Reserve Bank has stated that the fraudsters send attractive offers to gullible public through letters, e-mails, mobile phones, SMSs, etc. To lend credence to such offers, the communication is often sent on/ from letterheads /websites that appear to be like that of some public authorities like the Reserve Bank of India. The offers are apparently signed by top executives/senior officials of such authorities. However, only the names of the officials may be correct but their signatures are faked. The offer document would contain contact details of a so-called RBI officer working in some department in the Reserve Bank/Public Authorities.
    The fraudsters initially ask potential victims to deposit small sums of money for different official sounding reasons, such as, processing fees/ transaction fees/tax clearance charges/conversion charges, clearing fees, etc. The victims are asked to deposit the money in certain accounts in banks. The fraudsters often have multiple accounts in the name of individuals or proprietary concerns in different bank branches for collecting such charges. Often gullible genuine account holders are persuaded by the fraudsters to lend their accounts for such fraudulent activities on the promise of receiving some commission. Once the initial amount is deposited, demands for more money follow with more official sounding reasons. After accumulating a sizeable amount in these accounts, the fraudsters withdraw or transfer the money abroad and vanish leaving the victims in a lurch. Many residents have already become victims and have lost huge sums of money by falling for such fictitious offers.

    Source: www.rbi.org.in

    NOW START A SIP IN GOLD, WITH KOTAK GOLD FUND

    (2.5gm) .999 Fine Gold Bar - (With Assay Card)Pirate Gold Coins (144 pcs)1 x Mini 1907 St. Gauden Gold Bullion CoinBarack Obama Presidential Inauguration 24KT Gold Coin

    The Kotak Gold Fund, through which you can not only invest a lump sum amount but also start a Systematic Investment Plan (SIP) and take exposure to Gold. This fund allows a very convenient & easy way to invest in Gold.


    No need of Demat and Trading account: Investors can invest in this fund through the regular process of investment. The availability of demat account is an added convenience but not necessary for investment in this fund.


    Convenience of Buying / Selling / SIP directly with the AMC: Like any other mutual fund an investor can buy, sell, hold, conduct SIP/STP/SWP in this fund.
    The Trader's Great Gold Rush: Must-Have Methods for Trading and Investing in the Gold Market (Wiley Trading)


    Liquidity: An investor can subscribe and redeem the units directly from the AMC on all business days.


    Low Cost: Investing in gold through the Kotak Gold Fund in physical application mode enables you to invest at a low cost. The investor does not have to incur the charges for demat account & the brokerage charges. (However, the investors will have to bear the recurring expenses of the scheme, in addition to the expenses of the underlying Scheme.)


    Taxation: A Gold investment by means of this fund attracts the benefit of long term capital gain tax after one year of investments only in contrast to physical hoard of Gold where you have to pay short term capital gain tax for a period upto three years. Also the returns of this fund do not attract any wealth tax, which is not the case with physical investment of gold.of gold.

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