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News

Updates for October

Author: Team Finapolis/Thursday, October 26, 2017/Categories: MF News / Analysis

Updates for October

Canara Robeco Mutual Fund announced that Robbert C. Vonk had been appointed Chief Operating Officer of AMC effective October 1, 2016.

HDFC Mutual Fund has changed the name of HDFC Small & Midcap Fund to HDFC Small Cap Fund, effective November 9, 2016. The scheme will invest 80%-100% of corpus in equity and related instruments of small-cap and mid-cap companies, of which up to 20% can be invested in mid-cap companies with high risk profile, up to 20% can be invested in equity and related instruments outside target universe with medium to high risk and up to 20% can be invested in debt and money market instruments having low to medium risk. Existing investors can exit the fund without payment of exit load between October 10, 2016 and November 8, 2016.

Kotak Mutual Fund revised the benchmark of the Kotak Equity Arbitrage Scheme to the Nifty 50 Arbitrage Index, , effective October 1, 2016.

Birla Sun Life Mutual Fund announced that Satyabrata Mohanty shall be the designated fund manager for Birla Sun Life Special Situations Fund, effective October 5, 2016.

BNP Paribas Mutual Fund announced that the BNP Paribas Bond Fund, effective November 9, 2016, will invest 80%-100% of assets in corporate bonds / securitised debt and up to 20% in other debt instruments such as limited to money market instruments, government securities, T-Bills, etc. Existing investors can exit the scheme without payment of exit load between October 10, 2016 and November 8, 2016.

ICICI Prudential Mutual Fund announced a change in the exit load structure for ICICI Prudential Regular Savings Fund, effective October 5, 2016. Investors can redeem or switch-out up to 10% of units within a year from allotment at nil load, while redemptions or switch-outs in excess of 10% will attract 1% exit load. There is no exit load for redemptions or switch-outs of units after a year of allotment.

Canara Robeco Mutual Fund announced a new exit load structure for the Canara Robeco F.O.R.C.E Fund, effective October 3, 2016. Redeemed or switch-outs within a year from allotment will attract 1% exit load. Transactions after a year of allotment attract nil load.

ICICI Prudential Mutual Fund announced that Ihab Dalwai has been appointed fund manager of ICICI Prudential US Bluechip Equity Fund — US portion, ICICI Prudential Global Stable Equity Fund — Overseas investments and ICICI Prudential Indo Asia Equity Fund — Asia Portion. Also, Ashwin Jain and Manish Gunwani will not jointly manage the ICICI Prudential Technology Fund.

Axis Mutual Fund announced the appointment of Anupam Tiwari as fund manager effective September 23, 2016. Tiwari will manage the Axis Small Cap Fund and Tiwari and R.Sivakumar will jointly manage the Axis Equity Saver Fund, effective October 6, 2016.

L&T Mutual Fund announced that Vihang Naik will be the new fund manager of L&T Long Term Advantgae Fund - I and the L&T Tax Saver Fund, effective October 5, 2016. Rajesh Pherwani has resigned and ceased to be fund manager.

Mirae Asset Mutual Fund announced that Ankit Jain has been appointed Associate Fund Manager for Mirae Asset Great Consumer Fund, effective October 5, 2016. Jain and Neelesh Surana will jointly manage the domestic portion of the scheme, while the overseas portion will be handled by Bharti Sawant.

Taurus Mutual Fund announced changes to Taurus Short Term Income Fund, effective November 16, 2016. The scheme will invest 80%-100% of assets in money market securities and/ or debt securities having residiual maturity of 3 years of less with low to medium risk and invest up to 20% of assets in debt securities with residual maturity greater than 3 years with medium risk profile. Existing investors can exit without payment of exit load between October 17, 2016 and November 15, 2016.

Indiabulls Mutual Fund announced that Kunal M. Jain has been appointed Co-Fund Manager - Fixed Income, effective October 7, 2016. Jain and Malay Shah will jointly manage Indiabulls Income Fund, Indiabulls Monthly Income Plan and Indiabulls Gilt Fund.

Taurus Mutual Fund announced that redemptions from Taurus Infrastructure Fund, Taurus Banking & Financial Services Fund and Taurus Bonanza Fund will attract nil exit load effective October 10, 2016.

BNP Paribas Mutual Fund announced that Karthikraj Lakshmanan has been appointed Senior Fund Manager (Equity) effective October 7, 2016. Abhijeet Dey shall be Senior Fund Manager - Equities and Saumil Mehta shall be the dedicated fund manager for the AMC's overseas investments, effective October 7, 2016.

BNP Paribas Mutual Fund announced that effective October 7, 2016, BNP Paribas Equity Fund & BNP Paribas Long Term Equity Fund will be managed jointly by Karthikraj Lakshmanan and Shreyas Devalkar, while the BNP Paribas Dividend Yield Fund and BNP Paribas Mid Cap Fund will be managed jointly by Shreyas Devalkar and Abhijeet Day. The BNP Paribas Monthly Income Plan and BNP Paribas Dual Advantage Fund - Series 1 will be managed jointly by Karthikraj Laksmanan and Shreyash Devalkar (for equity portfolio) and Puneet Pal (for debt portfolio).

Birla Sun Life Mutual Fund announced a change in the exit load structure for multiple schemes. In case of Birla Sun Life MIP II - Wealth 25 Plan, Birla Sun Life Medium Term Plan, Birla Sun Life Balanced Advantage Fund, Birla Sun Life Balanced 95 Fund & Birla Sun Life Dividend Yield Plus, redemptions or switch-outs on or before 365 days from date of allotment will attract exit load of 1% of NAV. For Birla Sun Life Dynamic Bond Fund and Birla Sun Life Short Term Opportunities Fund, redemptions or switch-outs on or before 90 days from the date of allotment and 180 days from allotment (respectively) will attract exit load of 0.50% of NAV.

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