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News

Updates for November

Author: Team Finapolis/Monday, November 27, 2017/Categories: MF News / Analysis

Updates for November

BNP Paribas Mutual Fund announced changes in fund management responsibilities effective November 16. Karthikraj Lakshmanan and Abhijeet Day will jointly manage BNP Paribas Equity Fund, BNP Paribas Dividend Yield Fund, BNP Paribas Mid Cap Fund and BNP Paribas Long Term Equity Fund. They will also jointly manage the equity portfolio of BNP Paribas Monthly Income Plan, while Puneet Pal will manage the scheme's debt portfolio. Shreyas Devalkar, Fund Manager (Equity) resigned from the AMC, effective November 15.

DSP BlackRock Mutual Fund announced change in the exit load of DSP BlackRock Equity Savings Fund, effective November 21. Redemptions or switch-outs up to 10% of units within 12 months from allotment will attract no exit load. However, redemptions or switch-outs in excess of 10% will attract 1% exit load. Exits after 12 months of allotments will not attract any exit load.

Reliance Mutual Fund announced that Payal Wadhwa Kaipunjal and Siddharth Deb had been designated fund managers for various schemes effective November 5. Kaipunjal will manage R*Shares Nifty BeES, R*Shares Junior BeES, R*Shares Bank BeES, R*Shares PSU Bank BeES, R*Shares Shariah BeES, R*Shares Infra BeES, R*Shares Gold BeES and CPSE ETF, while Siddharth Deb will manage R*Shares Liquid BeES. The two will jointly manage R*Shares Hang Seng BeES, with Kaipunjal managing investments in foreign securities and Deb managing investments in debt securities.

HSBC Mutual Fund announced changes in the benchmark index for three schemes, effective November 11. The HSBC Equity Fund will be benchmarked to the Nifty 50 Index, while HSBC India Opportunities Fund will be benchmarked to the S&P BSE 200 Index. The HSBC Infrastructure Equity Fund will use the S&P BSE India Infrastructure Index as its benchmark.

ICICI Prudential Mutual Fund announced change in exit load structure for five schemes, effective November 10. For ICICI Prudential Balanced Fund, ICICI Prudential Dynamic Plan & ICICI Prudential MIP 25, redemption or switch-outs of up to 10% of units within a year of allotment will nil exit load, but units in excess of 10% will attract 1% of applicable NAV. Redemptions or switch-outs after a year from allotment will not attract any exit load. In the case of ICICI Prudential Balanced Advantage Fund, up to 15% of allotted units can be redeemed or switched out with 18 months of allotment without exit load, but exit load of 1% of NAV will be levied on redemptions or switch outs of units in excess of 15%. Exits after 18 months of allotment will not face exit load. For ICICI Prudential Equity Income Fund, redemption or switch-outs of up to 10% of units within a year of allotment will nil exit load, but units in excess of 10% will attract 1% of applicable NAV. Redemptions or switch-outs after a year from allotment will not attract any exit load. Furthermore, switches made to all open-ended equity schemes within a year from the date of allotment will not attract exit load.

IIFL Mutual Fund announced that Prashasta Seth was designated as Fund Manager for IIFL India Growth Fund and Ritesh Jain was designated as Fund Manager for IIFL Dynamic Bond Fund and IIFL Liquid Fund, effective November 3.

BNP Paribas Mutual Fund announced the name of BNP Paribas Bond Fund had been changed to BNP Paribas Corporate Bond Fund, effective November 9.

Union KBC Mutual Fund announced the appointment of Hardick Bora as Co-Fund Manager of the Union KBC Small & Midcap Fund, effective October 25.

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