Mutual fund houses bring new schemes
By siliconindia   |   Monday, 13 July 2009, 23:08 IST   |    1 Comments
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Mutual fund houses bring new schemes
Bangalore: After the announcement of scrapping entry load on all mutual fund schemes by market regulator, the Securities and Exchange Board of India (SEBI) from August 1 onwards, all the fund houses have started attracting investors by bringing in the lucrative schemes. JP Morgan Mutual Fund launched JF Greater China Equity Offshore Fund, an open Ended equity scheme. The objective of the scheme is to provide long term capital appreciation. It is an equity fund, which invests primarily in a diversified portfolio of companies incorporated or which have their registered office located in, or derive the predominant part of their economic activity from, a country in the Greater China region. The minimum investment amount is 10,000 and in multiple of Re.1 thereafter. The new fund offer (NFO) opened for subscription from July 9 to July 31, 2009. The scheme offers Growth option. The fund manager of this fund is Namdev Chougule. Mirae Asset Mutual Fund also came up with the new scheme termed as 'Mirae Asset Short Term Bond Fund'. The primary objective of this fund is to generate returns through an actively managed diversified portfolio of debt and money market instruments. There is no assurance or guarantee of returns. This is also an open ended scheme with both growth and dividend option. The minimum investment amount for this scheme is 5,000 and in multiple of Re.1 thereafter. This NFO opened for subscription from June 23 to July 23, 2009. Murthy Nagarajan has been appointed fund manager for this fund. Managed by Vetri Subramaniam, Religare Mutual Fund has launched Religare Business Leaders Fund, an open ended equity scheme. The objective of the scheme is to generate long term capital appreciation by investing in equity and equity related instruments including equity derivatives of companies which in our opinion are leaders in their respective industry or industry segment. The NFO opened for subscription from July 10 to July 31, 2009. The fund will re-open on August 29,2009. The face value of the new issue will be 10 per unit. The scheme offers Growth and Dividend Options. The dividend option offers dividend payout and dividend reinvestment facility. The minimum investment amount is Rs 5,000 and in multiple of Re.1 thereafter. Sahara launched scheme named as 'Sahara Super 20 Fund' to attract investors. This open ended growth scheme has been launched with the aim of providing long term capital appreciation in equity and equity related securities to around 20 potentially attractive companies selected out of the top 100 largest market capitalization companies, at the point of Investment. During the NFO period, the units of "Sahara Super 20 Fund" can be subscribed at 10/- per unit (plus applicable load). The NFO opened for subscription from June 25 to July 23, 2009. The minimum investment amount for the scheme is 5000 and in multiples of Re.1 thereafter. AN Sridhar has been appointed as the fund manager of the new scheme.

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