Kotak PSU Bank ETF tops MF scheme last week
Bangalore: 'Kotak PSU Bank ETF' topped the list of mutual fund schemes in the week ended September 18, 2009. The value of Kotak scheme went up by 10.03 percent with the net asset value (NAV) of 
321.61. Sajit Pisharodi is the Fund Manager of this open ended scheme, which had a market size of 43.11 crore, as on August 31, 2009. Some of the key holdings of the fund are State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda and Union Bank Of India.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of CNX PSU bank index, subject to tracking errors. According to mutualfundsindia.com, other funds which followed Kotak PSU Bank ETF in top list for the last week are PSU Bank Benchmark Exchange Traded Scheme, which gained by 9.77 percent, DSP BlackRock World Gold Fund by 7.34 percent and AIG Infrastructure and Economic Reform Fund by 6.76 percent.
Last week, the Securities and Exchange Board of India (Sebi) announced that mutual funds would need to have a systems audit conducted by an independent certified information systems auditor (CISA) or its equivalent authority. The market regulator has advised fund houses that the audit should be conducted once in two years. For financial years 2008-2009 and 2009-2010, Sebi said the systems audit should be completed by September 30, 2010. The domestic mutual fund industry manages assets of over 7.5 lakh crore.
321.61. Sajit Pisharodi is the Fund Manager of this open ended scheme, which had a market size of 43.11 crore, as on August 31, 2009. Some of the key holdings of the fund are State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda and Union Bank Of India.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of CNX PSU bank index, subject to tracking errors. According to mutualfundsindia.com, other funds which followed Kotak PSU Bank ETF in top list for the last week are PSU Bank Benchmark Exchange Traded Scheme, which gained by 9.77 percent, DSP BlackRock World Gold Fund by 7.34 percent and AIG Infrastructure and Economic Reform Fund by 6.76 percent.
Last week, the Securities and Exchange Board of India (Sebi) announced that mutual funds would need to have a systems audit conducted by an independent certified information systems auditor (CISA) or its equivalent authority. The market regulator has advised fund houses that the audit should be conducted once in two years. For financial years 2008-2009 and 2009-2010, Sebi said the systems audit should be completed by September 30, 2010. The domestic mutual fund industry manages assets of over 7.5 lakh crore.