Indians Mutual Funds: March 2008

Wednesday, March 19, 2008

DWS Money Plus Fund

Deutsche Asset Management (India) Pvt. Ltd.

The investment objective of the Scheme is to generate steady return by investing in debt and money market securities across the credit spectrum. The portfolio will be invested in money market instruments and investment grade debt securities with an aim to preserve capital and offer higher return and moderate liquidity over a short-medium term. There can be no assurance that the investment objective of the scheme will be realized.

Read more..

Open-End Fund ?

What is Open-End Fund?

A type of mutual fund that does not have restrictions on the amount of shares the fund will issue. If demand is high enough, the fund will continue to issue shares no matter how many investors there are. Open-end funds also buy back shares when investors wish to sell.

Investopedia Says...
The majority of mutual funds are open-end. By continuously selling and buying back fund shares, these funds provide investors with a very useful and convenient investing vehicle.

It should be noted that when a fund's investment manager(s) determine that a fund's total assets have become too large to effectively execute its stated objective, the fund will be closed to new investors and in extreme cases, be closed to new investment by existing fund investors.

Read More...

Reliance gold ETF collects over 1.5 bln rupees-Yahoo.com

http://in.biz.yahoo.com/071107/137/6myni.html

MUMBAI (Reuters) - India's largest mutual fund, Reliance Capital Asset Management Ltd, has collected over 1.5 billion rupees for its gold exchange-traded fund, a top company official said on Wednesday.

"We have collected in excess of 150 crore rupees as of today ... we are still waiting for the final figure," Vikrant Gugnani, chief executive officer, told Reuters.

Gugnani said the company tapped around 400 towns for the gold ETF, the fourth in the country.

The three existing ETFs, including Benchmark Asset Management Co and UTI Asset Management Co had a collection of over three tonnes of gold at the end of October.

Gugnani said the fund is likely to be listed at the end of November.

Reliance gold ETF collects over 1.5 bln rupees-Yahoo.com

Reliance Gold ETF

Reliance Gold ETF
Reliance Mutual Fund has launched a Gold Exchange Traded Fund - Reliance Gold Exchange Traded Fund. This open-ended fund will track domestic prices of gold through investments in physical gold. The fund will be initially available for subscription from October 15, 2007 to November 1, 2007.

The fund aims to provide returns that closely correspond to the return provided by the price of gold through investment in physical gold. The performance of the scheme may differ from that of domestic price of gold due to expense and other related factors.

An investor can buy/sell units of RGETF on a continuous basis on the National Stock Exchange and/or other recognised stock exchanges where units are listed and traded like any other publicly traded securities at market prices which may be close to the actual NAV of the scheme.

Around 90-100 per cent of investments would be allocated to physical gold and gold related instruments. Debt and money market component in the portfolio would be upto 10 per cent.

Snapshot
Face value: Rs 100
Type: Open-end, Gold ETF
Options: Dividend
Minimum application amount: Rs. 5000
Entry load: The fund would charge an entry load of 1.50% for investment less than Rs. 1 lakh, 0.75% for investment equal to or greater than Rs.1 lakh but less than Rs. 25 lakhs, 0.50% for investment equal to or greater than Rs.25 lakhs but less than Rs. 50 lakhs and 0.25% for investment equal to or greater than Rs.50 lakh but less than Rs. 1 crore.
Exit Load: Nil
This load is applicable during the NFO period but on the continuous basis the fund would not charge any entry or exit load.
Fund managers: Mr. Vikram Dhawan

Source: http://www.valueresearchonline.com/story/storyview.asp?str=10535

Kotak Gold Eternity : Customer FAQs

Kotak Gold Eternity : Customer FAQs

Why should I buy Gold?
Why should I buy it from Kotak Mahindra Bank?
What form is Gold being sold in?
In what weight are the gold bars available?
How will Kotak Mahindra Bank sell the gold?
What is the purity factor of gold?
What is the authenticity proof?
Who can buy the gold?
What is the price that the gold will be sold at?
Will Kotak Mahindra Bank buy back the gold?
How can I buy gold through a Branch?

Kotak Gold Eternity Gold as an Investment

Kotak Gold Eternity : Gold as an Investment
Gold is the oldest currency in the world and is coveted across continents and cultures for a variety of reasons.

Maintains long term value
Market cycles have their ups and downs, but gold has maintained its long-term value. Paper currencies may rise and fall but gold always endures. Gold has demonstrated its capacity to store value for centuries
Safe refuge
During times of calamities like war or economic crisis, there may be a negative effect on investments like currencies, bonds and equities, but may have an opposite effect on the value of gold. Also gold is not a liability of any government or corporation and hence it does not run a risk of becoming worthless due to unexpected events.
Inflation Hedge
The value of gold, in terms of real goods and services that it can buy, has remained remarkably stable whereas the purchasing power of many currencies has generally declined
Helps build a robust portfolio
Adding gold to a portfolio introduces an entirely different asset class. Portfolios that contain gold are generally more robust and better able to cope with market uncertainties than those which don't. Recent independent studies have shown that traditional diversifiers (such as bonds and alternative assets) often fail during times of market stress or instability. Even a small allocation of gold has been proven to significantly improve the consistency of portfolio performance during both stable and unstable financial periods.
Effective Diversifier
Diverse investments help protect the portfolio against fluctuations in the value of any single asset class. Gold is an excellent portfolio diversifier because its performance tends to move independently of other investments and key economic factors.
Both tangible and liquid
Gold is an asset that is both tangible and liquid, unlike real estate which is tangible but not liquid, or company shares and bonds which are liquid but not tangible.

Kotak Gold Eternity

Kotak Gold Eternity : Overview
Kotak Mahindra Bank brings you Gold Eternity, 24 Carat pure gold bars, carrying a 99.99% Assay Certification, signifying the highest level of purity as per international standards. Manufactured in Switzerland by PAMP, one of the world’s premier gold refiners and a brand recognized world wide as a guarantee of excellence and quality
Certified by one of the top assayers in the world
Tamper proof packaging to ensure the purity of the gold bar
Unique number on every gold bar and certicard, with records maintained in Switzerland

Kotak Gold Eternity come to you in two weights, 50 gms and 100 gms.

Benchmark Gold ETF launch on NSE in a few weeks

Benchmark Gold ETF launch on NSE in a few weeks -Hindubusinessonline.com

Mumbai March 1 The country's first Gold Exchange Traded Fund (Gold ETF), promoted by Benchmark Asset Management Company, has managed to collect a corpus of Rs 100 crore. The ETF is expected to be launched on the National Stock Exchange in a couple of weeks' time, Mr Rajan Mehta, the company's Executive Director said.

The Rs 100-crore corpus on its New Fund Offer has been generated at a time when gold prices are on an upward curve and ruling firm above $670 an ounce or Rs 9,800 per 10 grams.

The idea of Gold ETF was mooted in the first Union Budget of the present Government in July 2004; but the idea ran into technical troubles including custodial issues, all of which were resolved a few months ago. Benchmark had filed its first application to SEBI in early 2002.

"It is a good start, much higher than other ETF's launched by us in the past like Nifty, Nifty Junior and others," said Mr Mehta. He expressed optimism that the corpus of the open-ended scheme would grow over a period of time.

`Soft launch'

The company is in the process of allotting the units to investors before the units are launched on the Exchange. While calling it a soft launch to build up through the exchange mechanism, Mr Bhargav Vidya of B.N. Vidya and Associates said that the size of corpus was expected, given the high entry rate (Rs 10,000).

There is an entry load of 1.5 per cent in the NFO route. Investors will be spared this if they bought units through the NSE mechanism from the Authorized Participants.

Currently the price band of gold's daily movement is around $15/oz, which is very volatile, Mr Vaidya pointed out, adding that Indian consumers like price stability in the yellow metal from where they can decide a comfortable buying level.

The product is such that investment will grow post the NFO, said Mr R. Raja, Senior Vice-President of Products, UTI, adding that according to UTI homework there was huge interest in the product.

UTI's Gold ETF opened on Thursday. In two years' time, the ETF industry would be a sizeable one of around Rs 5,000 crore, he said.

The corpus would have been larger at Rs 400-500 crore had gold prices been lower at around Rs 9,000-9,100, said Mr Prithviraj Kothari, Director, Riddhi Siddhi Bullion. When the Benchmark NFO opened, gold was ruling at $640/oz or Rs 9,400/10 grams.

Product uses

The unit could be used as a collateral security, and used by anyone including Government to hedge against inflation. Banks, mutual funds and institutional investors that are not allowed to participate on the commodity exchanges can also use this product, which will make it more liquid, he explained. The units can also be purchased and gifted.

Mr Suresh Hundia, President of Bombay Bullion Association, wondered about the working of Gold ETF in India where traditionally gold is associated with physical holding than as a paper document.

Cost of holding the units will have to be incurred, while conversion of units to gold will be dictated by market makers, he apprehended. The corpus of the fund is not big compared to the market volume, according to Mr Mukul Sonawalla, former President of the BBA.

UTI Gold Exchange Traded Fund launched

http://chennaionline.com/

UTI Mutual Fund has announced the launch of UTI Gold Exchange Traded Fund from March 1, 2007. The new fund offer (NFO) closes on March 12, 2007.

UTI Gold Exchange Traded Fund is an open-ended exchange traded fund designed to track the performance and yield of the underlying asset viz. gold. The scheme will be invested in gold bullion and will reflect the international price of gold in the market. The objective of UTI Gold Exchange Traded Fund is to endeavour to provide returns that, before expenses, closely track the performance and yield of gold.
Every unit of UTI Gold Exchange Traded Fund will approximately represent one gram of pure gold. Units allotted under the scheme will be credited to investors' demat accounts.

U K Sinha, chairman and managing director, UTI AMC, said, “UTI Gold Exchange Traded Fund offers investors a new, innovative, relatively cost efficient and secure way to access the gold market without the necessity of taking physical delivery of gold. It is like having gold in your demat account.”

Mohit Sachdev, country head and president, UTI AMC, said, "UTI Mutual Fund offers an opportunity to investors to diversify their portfolio by investing in a new asset class viz. gold without the hassles of handling the physical asset. Investors can buy and sell as small as one unit of the scheme on National Stock Exchange once the scheme is listed."

Salient features of UTI Gold Exchange Traded Fund

Eligible investors: An application for issue of units may be made by resident individuals, institutions as well as by NRls and Flls.

Purchase and sale of units: Investors can invest during the NFO with a minimum application amount of Rs 20,000 and in multiples of Re.1 thereafter. After the NFO, post-listing, units can be bought/sold by investors on the National Stock Exchange.

Dematerialisation: Units will be available only in dematerialised form and hence an investor applying for units is required to have a demat account.

R Rangaraj
http://chennaionline.com/ Published on March 6th, 2007

Gold exchange traded funds to hit market -Sify

Sify.com

Gold exchange traded funds to hit market

By R.Pattabiraman

Gold exchange traded funds (GETF) are special types of exchange traded funds tracking the price of gold. They are traded in foreign exchanges. In India, mutual fund regulations have been amended to make way for valuation of gold by GETF. The GETF was proposed in the Union Budget. Gold can be bought and sold in units, similar to the mutual fund units.

Exchange traded fund is like a security. It tracks the index movements. In the case of GETF, the units will have a face value of Rs 100 or Rs 10 each. The investor can buy and sell the units at the prevailing market price. The physical gold can be sold only at a discount and it is a cumbersome process. At present, futures gold is traded in the commodity exchanges and the regulatory mechanism comes under Forward Market Commission. The mutual fund will float the GETF and the regulator is Securities and Exchange Board of India (SEBI). Since gold is already traded in commodity exchanges, such units can be allowed to be traded in commodity exchanges. The necessary amendments can be carried out in this regard.

GETF should value the gold at AM fixing price of London Bullion Market Association in US dollars per troy ounce for gold having a fineness of 995 parts per thousand of gold. The transport cost and customs duty is added to arrive at the price.

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Sify Home >> Finance >> Commodities >> Fullstory

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Gold exchange traded funds to hit market

By R.Pattabiraman

Gold exchange traded funds (GETF) are special types of exchange traded funds tracking the price of gold. They are traded in foreign exchanges. In India, mutual fund regulations have been amended to make way for valuation of gold by GETF. The GETF was proposed in the Union Budget. Gold can be bought and sold in units, similar to the mutual fund units.

Exchange traded fund is like a security. It tracks the index movements. In the case of GETF, the units will have a face value of Rs 100 or Rs 10 each. The investor can buy and sell the units at the prevailing market price. The physical gold can be sold only at a discount and it is a cumbersome process. At present, futures gold is traded in the commodity exchanges and the regulatory mechanism comes under Forward Market Commission. The mutual fund will float the GETF and the regulator is Securities and Exchange Board of India (SEBI). Since gold is already traded in commodity exchanges, such units can be allowed to be traded in commodity exchanges. The necessary amendments can be carried out in this regard.

GETF should value the gold at AM fixing price of London Bullion Market Association in US dollars per troy ounce for gold having a fineness of 995 parts per thousand of gold. The transport cost and customs duty is added to arrive at the price.

Click here to read previous articles

Only banks can act as a custodian for exchanging gold into units of GETF. The process will help an individual to get capital appreciation over the period of time. The GETF can act as a hedge of inflation and also give protection during cyclical fluctuation. Further GETF can act as a portfolio during stock market fall.

GETF allow investors to buy or sell gold without taking delivery of the physical gold. The securities are backed by gold kept in a vault. According to a study, investors purchase gold through GETF at 18 million ounces in foreign countries.

GETF prices changes throughout the day, depending on supply and demand. It is important to remember that while GETF attempt too replicate the return on gold price movements but there is no guarantee that they will do so exactly. By owning a GETF, an investor gets the diversification of an exchange-traded fund plus the flexibility of a unit. Because GETF is traded like units, it can be short sold, buy on margins and purchase as little as one unit. Another advantage is that the expense ratio of GEFT is lower than that of others.

The views expressed in the article are the author's and not of Sify.com.

Gold exchange-traded funds

What are exchange-traded funds?

Exchange-traded funds (ETFs) are mutual fund schemes that are listed and traded on exchanges like stocks. ETFs trading value is based on the net asset value (NAV) of the assets it represents. Generally, ETFs invest in a basket of stocks and try to replicate a stock market index such as the S&P CNX Nifty or BSE Sensex, a market sector such as energy or technology, or a commodity such as gold or petroleum.

Recently, the Securities and Exchange Board of India (Sebi) amended its regulations and allowed mutual funds launch gold exchange-traded funds (GETFs) in India. Two mutual funds, UTI mutual fund and Benchmark Mutual Fund, are set to launch GETEs in a few days. These funds would be listed on the National Stock Exchange (NSE).

What are gold exchange-traded funds?

A gold-exchange traded fund unit is like a mutual fund unit backed by gold as the underlying asset and would be held mostly in demat form. An investor would get a securities certificate issued by the mutual fund running the Gold-ETF defining the ownership of a particular amount of gold. GETFs are designed to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold, and to buy and sell through trading of a security on a stock exchange.

With gold being one of the important asset classes, GETFs will provide a better, simpler and affordable method of investing as compared to other investment methods like bullion, gold coins, gold futures, or jewellery.

Advantages of GETFs

· No risk of holding physical stock: As GETFs are issued in demat form, the risk associated with holding physical gold is reduced considerably.

· Affordable: GETFs are ideal for small retain investors as they can buy a just one unit from the exchange. The minimum amount of investment during the NFO period for Cash is Rs 10,000 and in multiples of Rs 1,000 thereafter. One unit of the fund will represent one gram of gold.

· High Liquidity: GETFs can be easily bought / sold like any other stock on the exchange during market hours at real-time prices as opposed to end of day prices.

· Lower cost: GETFs enjoy the benefits of lower cost and higher transparency. As they are listed on the exchange, costs of distribution are much lower. Further, exchange traded mechanism helps reduce minimal collection, disbursement and other processing charges. Gold futures include the cost of carry that will be absent on a GETF.

· Low tracking error: Tracking Error of GETFs is likely to be low as compared to a normal fund. Due to the creation / redemption of units only through in-kind mechanism the fund can keep lesser funds in cash. Also, time lag between buying / selling units and the underlying physical gold is much lower.

Conclusion

India is the world's biggest consumer of gold, consuming 700-800 tonnes annually, the majority of which is used for jewellery. Gold ETFs are expected to be popular as investment-led buying for gold has pushed aside some of the demand for gold jewellery. Buying jewellery as an investment in gold can be expensive as charges in the form of making, storage and other services tend to increase the cost, while gold-ETFs can be an effective invest tool to help one build significant wealth over time.

About a gold fund

http://in.rediff.com/getahead/2005/mar/03gold.htm

Was your interest piqued when you heard about the introduction of gold exchange traded funds in the Budget?

Before you get sold on the idea, here's a lowdown on what they really are and what you can expect.

The essence of a mutual fund

An equity mutual fund invests in shares of various companies.

A diversified equity mutual fund may have shares of, say, 20 companies belonging to 10 sectors.

If you buy a mutual fund that invests only in one sector, it is a sector fund. So you may have a pharma sector fund that invests only in pharma companies or a healthcare sector fund that only invests in such companies.

When we talk of gold exchange traded funds, it means they are funds focused only on one asset: gold.

They do not derive their value from the share prices of various companies. Instead, they do so from gold.

The underlying asset is not equity, but gold.

How the unit price is determined

A mutual fund will sell units. Each unit will cost a particular amount, called the Net Asset Value.

In an equity fund, the NAV depends on the current market prices of the shares of the companies the fund has invested in, the amount of cash the fund is holding and the number of units the fund has.

As the prices of the shares of the invested companies rise, so will the NAV.

Abroad, the practice with gold traded funds is that one unit represents one-tenth of an ounce of physical gold.

1 ounce
28.35 grammes

1 troy ounce
31.1035 grammes

So if there are investors in the fund who hold 10,000 units, that means the fund must have physical gold worth 100 ounces.

As the price of gold rises and falls, the value of the unit will move accordingly.

Just like a mutual fund, the value per unit will be the total value of gold held divided by the number of units, minus the expenses of the fund.

Should you buy gold?
Does it make sense to buy gold?

Yes.

It is wise to have some amount of your money invested in gold. You could put it as anywhere from 5% to 10% of your total investments.

Gold is a hedge against inflation. As inflation rises, your rupee will buy you less than what it did earlier. But the price of gold will continue to rise. That means your investment in gold does not lose its value; its value could increase.

Come what may, gold is an international currency.

That is why in the face of war and terrorism, people tend to buy gold as a safety measure. Even if the value of your currency falls to nothing, gold will be linked to the international price.

And even if no one wants your currency anywhere in the world, they will buy your gold.

Buy a gold bar, not a necklace!
Why jewellery is a bad investment
Does it make sense to invest in such a fund?

There are three ways of owning gold.

1. Buying the shares of mining companies.

2. Buying physical gold (gold bars or coins).

3. Investing in a gold traded fund.

How to buy gold bars
Unfortunately, the first option is not really available. After all, only if mining companies go public (list their shares on a stock exchange) can you buy their shares.

From the other two, there are a number of factors to look at:

i. Convenience

The only area where a gold traded fund will score over owning actual gold is in convenience and actual storage. You don't have to worry about safety and keeping it in a bank locker.

ii. Cost

It may be cheaper to buy a few units of the fund if you cannot afford a gold bar. However, you will have to check and see if they sell minimum number of units or have a minimum investment criteria.

iii. Fees

When buying a gold bar, you pay the actual cost of the gold and a 1% sales tax. Look to see what fees are applicable when you buy from a mutual fund: entry fee, exit fee, transaction tax.

Why pay the mutual fund fees when there is no savvy trading being done? Or no expertise required of you?

Instead, buy a gold bar and sell it when you want. You will make a profit.

iv. Tax

Gold does attract capital gains tax. This should also be applicable for the gold traded mutual fund.

Buying gold? You will be taxed?

Sundaram Mutual launches Capex Opportunities Fund

Sundaram Mutual launches Capex Opportunities Fund

Sundaram Mutual has launched Sundaram Capex Opportunities Fund. The offer will be between August 10 and September 5. This open-end fund will invest in companies that have a presence in the capital goods sector.
The universe will encompass companies that supply equipment, materials and services to implement capital expansion activity. The benchmark will be the BSE Capital Goods Index. The minimum investment amount is Rs 5,000.

If investments made during the New Fund Offering period were pulled within six months from the allotment date, there will be an exit load of 3 per cent. There is no entry load for funds that are invested in this period.

Birla Mutual has announced a dividend of 75 per cent for Birla MNC Fund. The record date for the dividend is August 26. The fund paid a 50-per cent dividend in January.

Kotak Mutual has declared a dividend of 5 per cent for Kotak Midcap Fund. The record date for the dividend is August 24. This is the first dividend payment by the fund house for Kotak Midcap, which was launched in December 2004.

Taurus Mutual plans to launch Taurus Liquid Fund. This fund will offer two plans - Institutional and Regular. The fund will invest in money market instruments and debt. The fund has filed with SEBI for approval.

UTI Mutual plans to launch an offshore debt fund in alliance with Deepfa Bank of Germany. The fund names as UTI India Debt Fund aims to have a corpus of $ 500 million over a twelve-month period. There are also plans to launch to two new funds as part of a tie-up with State Street Bank of US. The two funds will invest in securities in overseas market. These funds will be launched once regulatory clearances are secured.

The new fund offering period for Prudential ICICI Infrastructure Fund closes on August 16.

What lies in store in 2008

What lies in store in 2008

1) Guidelines on real estate funds
We expect the launch of real estate funds to be among the high points of 2008. A draft of the guidelines has already been released by SEBI (Securities and Exchange Board of India). Once the guidelines are finalised, you can expect fund houses to go all out with their real estate offerings. The launch of REITs (real estate investments trusts) will be the logical conclusion to the launch of real estate funds.

2) Entry load waiver
Despite the steps taken by SEBI to empower investors, it can be safely stated that fund houses and distributors continue to call the shots in the mutual fund industry. To further the cause of investor empowerment, SEBI has waived entry loads on open-ended funds. Investors can now invest directly with the fund house without the intervention of a mutual fund distributor. The advantage of this move is that a) there will not be an entry load and investors can have their entire investment corpus invested in the markets and b) they will no longer be at the mercy of unethical mutual fund distributors for their mutual fund investments. Finally, distributors will be forced to truly 'earn' their income and this bodes well for investors.

What should investors do in 2008?
For starters, investors would do well to appreciate the importance of sticking to the basics of investing. This is probably their best defense in light of the complex investment environment that they will have to contend with. Investors must have predetermined investment objectives and plans before they start investing; also, they must invest in line with the same at all times. Finally, not losing sight of their risk profile is pertinent as well. 'Block all the noise and stick to the basics' - that could well be the mantra for a rewarding 2008.

Mutual Funds: Enter 2008, exit 2007

http://in.mutualfunds.yahoo.com/080101/93/6qclk.html

Mutual Funds: Enter 2008, exit 2007
By Personalfn.com

With the Indian stock markets growing at a frantic pace in 2007 (much like 2006), investors who were willing to take on risk have been rewarded rather handsomely for their efforts. While the smart investor has been grounded, many an ecstatic investor has lost his bearings taking on even higher dosage of risk for that additional return. Nonetheless, 2007 had a lot of innovation in store for the mutual fund investor, not all of which were positive. And there are indications that 2008 could prove to be just as innovative.

The year gone by
Given that the domestic mutual fund industry has far from matured, it is only natural to expect a lot of new products and innovation along the way. 2007 witnessed some of these innovations.

1) Gold ETFs make a debut
While there was considerable talk (which built up even more anticipation) about Gold ETFs (exchange traded funds) for quite some time, they never really took off. That changed in 2007. As regulations crystallised and there was greater clarity on this front, fund houses stepped in to launch Gold ETFs, actually they rushed in. And like with all other innovations, every fund house now looks eager to launch a Gold ETF, even those who don't even have the basic mutual fund offerings in place.

2) Global funds take off
Another long-standing innovation - global funds, debuted in the industry. This is another investment option that never really took off as expected because a) there was lack of clarity regarding the regulations and b) fund houses were averse to launching global funds in the avatar of debt funds (since global equities are classified as debt from a taxation perspective). Nonetheless, global funds did take off although fund houses adopted varying routes; while some invested directly in global equities, others opted for the Fund of Funds (FoF) route by investing in global funds.

3) Infrastructure funds storm the rankings
Like we mentioned, not all innovations were positive; infrastructure funds count among the innovations that the industry could have done without. We believed that after the disaster with the technology/media/telecom (TMT) funds in 2000, fund houses would have become wiser regarding sector/thematic funds. But no, themes like infrastructure were as popular as ever and many fund houses launched infrastructure-centric funds. Those that already had one open-ended infrastructure fund did not hesitate in launching more infrastructure funds (although of the close-ended variety). Of course, there is nothing to detract from the blistering performance of infrastructure funds. However, this has come at higher risk to the investor and unfortunately investors haven't been told this in as many words. At Personalfn, our view on sector/thematic funds is that they are best avoided; instead investors should opt for well-managed, well-diversified equity funds which in any case do invest in infrastructure (and also have the flexibility to exit the theme when valuations have peaked).

Net Asset Value

Net Asset Value

"Net asset value," or "NAV," of an investment company is the company’s total assets minus its total liabilities. For example, if an investment company has securities and other assets worth $100 million and has liabilities of $10 million, the investment company’s NAV will be $90 million. Because an investment company’s assets and liabilities change daily, NAV will also change daily. NAV might be $90 million one day, $100 million the next, and $80 million the day after.

Mutual funds and Unit Investment Trusts (UITs) generally must calculate their NAV at least once every business day, typically after the major U.S. exchanges close. A closed-end fund, whose shares generally are not "redeemable"—that is, not required to be repurchased by the fund—is not subject to this requirement.

An investment company calculates the NAV of a single share (or the "per share NAV") by dividing its NAV by the number of shares that are outstanding. For example, if a mutual fund has an NAV of $100 million, and investors own 10,000,000 of the fund’s shares, the fund’s per share NAV will be $10. Because per share NAV is based on NAV, which changes daily, and on the number of shares held by investors, which also changes daily, per share NAV also will change daily. Most mutual funds publish their per share NAVs in the daily newspapers.

The share price of mutual funds and traditional UITs is based on their NAV. That is, the price that investors pay to purchase mutual fund and most UIT shares is the approximate per share NAV, plus any fees that the fund imposes at purchase (such as sales loads or purchase fees). The price that investors receive on redemptions is the approximate per share NAV at redemption, minus any fees that the fund deducts at that time (such as deferred sales loads or redemption fees).

For the statutory and regulatory provisions relating to NAV, refer to the Investment Company Act of 1940 and the rules adopted under that Act, in particular Section 2(a)(41), and Rules 2a-4 and 22c-1.

http://www.sec.gov/answers/nav.htm

What It Is:
Most commonly used in reference to mutual or closed-end funds, net asset value (NAV) measures the value of a fund's assets, minus its liabilities. NAV is typically calculated on a per-share basis.

How It Works/Example:
A fund's NAV fluctuates along with the value of its underlying investments. The formula for NAV is:

NAV = (Market Value of All Securities Held by Fund + Cash and Equivalent Holdings - Fund Liabilities) / Total Fund Shares Outstanding

Let's assume at the close of trading yesterday that a particular mutual fund held $10,500,000 worth of securities, $2,000,000 of cash, and $500,000 of liabilities. If the fund had 1,000,000 shares outstanding, then yesterday's NAV would be:

NAV = ($10,500,000 + $2,000,000 - $500,000) / 1,000,000 = $12.00

A fund's NAV will change daily as the value of a fund's securities, cash held, liabilities, and the number of shares outstanding fluctuate.

Why It Matters:
Net asset values are like stock prices in that they measure the value of one share of a fund. Also, they give investors a way to compare a fund's performance with market or industry benchmarks (such as the Standard & Poor's 500 or an industry index). However, some analysts argue that comparing long-term changes in a fund's NAV is not as meaningful as comparing long-term changes in its share price because funds periodically distribute capital gains to their fundholders, thus reducing their NAV.

What is NAV?

http://www.investopedia.com

NAV (NET ASSET VALUE)

1. A mutual fund's price per share or exchange-traded fund's per-share value. In both cases, the per-share dollar amount of the fund is derived by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.

2. In terms of corporate valuations, the value of assets less liabilities equals net asset value, or "book value".

Investopedia Says..

1. In the context of mutual funds, net asset value per share is computed once a day based on the closing market prices of the securities in the fund's portfolio. All mutual fund buy and sell orders are processed at the NAV of the trade date; however, investors must wait until the following day to get the trade price.

Mutual funds pay out (distribute) virtually all of their income and capital gains. As a result, changes in NAV are not the best gauge of mutual fund performance, which is best measured by annual total return.

Because exchange-traded funds and closed-end funds trade like stocks, their shares trade at market value, which can be a dollar value above (trading at a premium) or below (trading at a discount) net asset value.

Latest NAV-TATA

http://www.tatamutualfund.com/latest-nav.asp

Tata Mutual Fund

Overview

At Tata Asset Management Company, we believe that your investment needs depend on personal and financial goals. Identifying your financial goals is the key to achieving the big things in your life, be it your child's education or a carefree and comfortable retired life.

After identifying and defining your financial goals, you now need to plan for each of them in an organised and a professional way. Investment experts around the world advise instruments like equity funds and stocks for long-term (more than 5 years), income funds for medium-term and liquid funds for short-term needs.

The investment matrix here depicts the entire available variety of investment options. Those at the top provide for a greater opportunity for long-term capital growth while those at the bottom take care of current income and reasonable return & liquidity. Tata Mutual Fund offers a wide range of funds for different investment instruments designed to cater to your individual profile and life-stage.

Open Ended
Tata Balanced Fund
Tata Contra Fund
Tata Dividend Yield Fund
Tata Dynamic Bond Fund
Tata Equity Opportunities Fund
Tata Equity P/E Fund
Tata Fixed Horizon Fund
Tata Floater Fund
Tata Floating Rate Fund
Tata Gilt Securities Fund
Tata Growth Fund
Tata Income Fund
Tata Income Plus Fund
Tata Index Fund
Tata Infrastructure Fund
Tata Life Sciences & Technology Fund
Tata Liquid Fund
Tata Liquidity Management Fund
Tata Mid Cap Fund
Tata MIP Plus Fund
Tata Monthly Income Fund
Tata Pure Equity Fund
Tata Select Equity Fund
Tata Service Industries Fund
Tata Short Term Bond Fund
Tata Tax Saving Fund
Tata Treasury Manager Fund
Tata Young Citizen's Fund

Close Ended
Tata Capital Builder Fund
Tata Equity Management Fund
Tata Indo-Global Infrastructure Fund
Tata SIP Fund Scheme I
Tata SIP Fund Scheme II
Tata Tax Advantage Fund 1

Morgan Stanley Mutual Fund

http://www.indobase.com/markets/mutual-fund/morgan-stanley-mutual-fund.php

Morgan Stanley is a global financial services firm and a market leader in securities, investment management and credit services. It has more than 600 offices in 27 countries and manages $421 billion in assets for institutional and individual clients around the world. Morgan Stanley Investment Management (MSIM), the asset management company of Morgan Stanley was established in 1975. Morgan Stanley entered Indian market in 1989 with the launch of India Magnum Fund. In 1994, Morgan Stanley launched Morgan Stanley Growth Fund (MSGF). It is one of the largest private sector schemes investing in equities.

Standard Chartered-Grindlays Super Saver Income Fund - Medium Term Plan

Grindlays Super Saver Income Fund - Medium Term Plan

Investment Objective

The primary investment objective of the scheme is to seek to generate stable returns by investing in good quality fixed income and money market securities.

Ideal investment horizon

The scheme is designed for investors seeking a balance of stable returns and risk over a tenor of 4-12 months.

More Returns in 9 months?

Presenting The Medium Term Plan in Grindlays Super Saver Income Fund.

Interest rates are at an all time low. Term deposit rates for a tenure of 6-12 months are at abysmally low of around 5.5%. Factor in inflation (3.75%) and your real rate of return is not even 2%.

A heavy price indeed for the safety of term deposits.

Instead, consider a highly liquid investment opportunity that can generate more returns in the 6-12 month term with minimal risk to your capital.

The Medium Term Plan in Grindlays Super Saver Income Fund

Ideal for an investment horizon of 6-12 months, the Medium Term Plan seeks to combine the safety of a short-term fund and the potentially higher returns of a long-term fund. So what you get is nothing but a balanced investment option.

The fund invests 100% of its portfolio in highly rated debt instruments like securities issued by the Central/State government and bonds issued by Blue Chip companies with no exposure whatsoever to equities.

Options

The fund offers the option of Growth or Dividend. While the appreciation continues to compound in the Growth option, under the Dividend option the fund will endeavour to distribute the appreciation in the form of dividends on a bi-monthly basis (once in two months).

What's more, dividends post April 2003 are completely tax-free in the hands of the investor*.

All you need is Rs. 500 (in Plan A - Regular Plan) with no limit whatsoever on the maximum amount you can invest)

Risk Management through the 3D Factor Process

To help manage the interest risk, we have put in place a proven and robust investment management process called the 3D Factor Process. This proprietary interest forecasting model tracks 14 factors that impact interest rates. Weightages are assigned to each of the factors, based on their importance at the relevant time. The fund management team then assigns a bullish or bearish rating to each factor, each week. This helps in deciding the composition and duration of the portfolio.

Redemption within 24 hours

And should you require your investment back. You can have the same at a day's notice and that too directly into your bank account**.

Standard Chartered Mutual Fund

Equity Schemes

Simply Unrestricted

Presenting Standard Chartered Classic Equity Fund - a Fund that seeks to stand by you through the test of time.

Standard Chartered Classic Equity Fund is a truly diversified fund that would not be limited by diktats of investing in either a particular section of the market or a particular style of investing.

It would attempt to retain its freshness and stay contemporary with an unrestricted investment style (within pre-defined and controlled boundaries) and thus deliver returns that are truly consistent and relevant.

With its broad idea generation theme, it is ideal for investors with a 1 to 10 year time frame.

Debt Schemes
Introduction

Grindlays Super Saver Income Fund - Investment Plan

Investment Objective

The Primary investment objective of the scheme is to seek to generate stable returns with a low risk strategy by creating a portfolio that is invested in good quality fixed income and money market securities.

Ideal investment horizon

The scheme is designed for investors seeking stable returns over a relatively longer tenor period of investment of more than a year

Asset allocation pattern

Type of Investment Indicative Allocation Risk Profile

Debt instruments with
maturity more than
one year 50% - 100% Low

Debt instruments 0% - 50% Low to medium

Mutual Fund Companies in India

http://finance.indiamart.com/

The concept of mutual funds in India dates back to the year 1963. The era between 1963 and 1987 marked the existance of only one mutual fund company in India with Rs. 67bn assets under management (AUM), by the end of its monopoly era, the Unit Trust of India (UTI). By the end of the 80s decade, few other mutual fund companies in India took their position in mutual fund market.

The new entries of mutual fund companies in India were SBI Mutual Fund, Canbank Mutual Fund, Punjab National Bank Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund.

The succeeding decade showed a new horizon in indian mutual fund industry. By the end of 1993, the total AUM of the industry was Rs. 470.04 bn. The private sector funds started penetrating the fund families. In the same year the first Mutual Fund Regulations came into existance with re-registering all mutual funds except UTI. The regulations were further given a revised shape in 1996.

Kothari Pioneer was the first private sector mutual fund company in India which has now merged with Franklin Templeton. Just after ten years with private sector players penetration, the total assets rose up to Rs. 1218.05 bn. Today there are 33 mutual fund companies in India.

Major Mutual Fund Companies in India

ABN AMRO Mutual Fund

ABN AMRO Mutual Fund was setup on April 15, 2004 with ABN AMRO Trustee (India) Pvt. Ltd. as the Trustee Company. The AMC, ABN AMRO Asset Management (India) Ltd. was incorporated on November 4, 2003. Deutsche Bank A G is the custodian of ABN AMRO Mutual Fund.

Birla Sun Life Mutual Fund

Birla Sun Life Mutual Fund is the joint venture of Aditya Birla Group and Sun Life Financial. Sun Life Financial is a golbal organisation evolved in 1871 and is being represented in Canada, the US, the Philippines, Japan, Indonesia and Bermuda apart from India. Birla Sun Life Mutual Fund follows a conservative long-term approach to investment. Recently it crossed AUM of Rs. 10,000 crores.

Bank of Baroda Mutual Fund (BOB Mutual Fund)

Bank of Baroda Mutual Fund or BOB Mutual Fund was setup on October 30, 1992 under the sponsorship of Bank of Baroda. BOB Asset Management Company Limited is the AMC of BOB Mutual Fund and was incorporated on November 5, 1992. Deutsche Bank AG is the custodian.

HDFC Mutual Fund

HDFC Mutual Fund was setup on June 30, 2000 with two sponsorers nemely Housing Development Finance Corporation Limited and Standard Life Investments Limited.

HSBC Mutual Fund

HSBC Mutual Fund was setup on May 27, 2002 with HSBC Securities and Capital Markets (India) Private Limited as the sponsor. Board of Trustees, HSBC Mutual Fund acts as the Trustee Company of HSBC Mutual Fund.

ING Vysya Mutual Fund

ING Vysya Mutual Fund was setup on February 11, 1999 with the same named Trustee Company. It is a joint venture of Vysya and ING. The AMC, ING Investment Management (India) Pvt. Ltd. was incorporated on April 6, 1998.

Prudential ICICI Mutual Fund

The mutual fund of ICICI is a joint venture with Prudential Plc. of America, one of the largest life insurance companies in the US of A. Prudential ICICI Mutual Fund was setup on 13th of October, 1993 with two sponsorers, Prudential Plc. and ICICI Ltd. The Trustee Company formed is Prudential ICICI Trust Ltd. and the AMC is Prudential ICICI Asset Management Company Limited incorporated on 22nd of June, 1993.

Sahara Mutual Fund

Sahara Mutual Fund was set up on July 18, 1996 with Sahara India Financial Corporation Ltd. as the sponsor. Sahara Asset Management Company Private Limited incorporated on August 31, 1995 works as the AMC of Sahara Mutual Fund. The paid-up capital of the AMC stands at Rs 25.8 crore.

State Bank of India Mutual Fund

State Bank of India Mutual Fund is the first Bank sponsored Mutual Fund to launch offshor fund, the India Magnum Fund with a corpus of Rs. 225 cr. approximately. Today it is the largest Bank sponsored Mutual Fund in India. They have already launched 35 Schemes out of which 15 have already yielded handsome returns to investors. State Bank of India Mutual Fund has more than Rs. 5,500 Crores as AUM. Now it has an investor base of over 8 Lakhs spread over 18 schemes.

Tata Mutual Fund

Tata Mutual Fund (TMF) is a Trust under the Indian Trust Act, 1882. The sponsorers for Tata Mutual Fund are Tata Sons Ltd., and Tata Investment Corporation Ltd. The investment manager is Tata Asset Management Limited and its Tata Trustee Company Pvt. Limited. Tata Asset Management Limited's is one of the fastest in the country with more than Rs. 7,703 crores (as on April 30, 2005) of AUM.

Kotak Mahindra Mutual Fund

Kotak Mahindra Asset Management Company (KMAMC) is a subsidiary of KMBL. It is presently having more than 1,99,818 investors in its various schemes. KMAMC started its operations in December 1998. Kotak Mahindra Mutual Fund offers schemes catering to investors with varying risk - return profiles. It was the first company to launch dedicated gilt scheme investing only in government securities.

Unit Trust of India Mutual Fund

UTI Asset Management Company Private Limited, established in Jan 14, 2003, manages the UTI Mutual Fund with the support of UTI Trustee Company Privete Limited. UTI Asset Management Company presently manages a corpus of over Rs.20000 Crore. The sponsorers of UTI Mutual Fund are Bank of Baroda (BOB), Punjab National Bank (PNB), State Bank of India (SBI), and Life Insurance Corporation of India (LIC). The schemes of UTI Mutual Fund are Liquid Funds, Income Funds, Asset Management Funds, Index Funds, Equity Funds and Balance Funds.

Reliance Mutual Fund

Reliance Mutual Fund (RMF) was established as trust under Indian Trusts Act, 1882. The sponsor of RMF is Reliance Capital Limited and Reliance Capital Trustee Co. Limited is the Trustee. It was registered on June 30, 1995 as Reliance Capital Mutual Fund which was changed on March 11, 2004. Reliance Mutual Fund was formed for launching of various schemes under which units are issued to the Public with a view to contribute to the capital market and to provide investors the opportunities to make investments in diversified securities.

Standard Chartered Mutual Fund

Standard Chartered Mutual Fund was set up on March 13, 2000 sponsored by Standard Chartered Bank. The Trustee is Standard Chartered Trustee Company Pvt. Ltd. Standard Chartered Asset Management Company Pvt. Ltd. is the AMC which was incorporated with SEBI on December 20,1999.

Franklin Templeton India Mutual Fund

The group, Frnaklin Templeton Investments is a California (USA) based company with a global AUM of US$ 409.2 bn. (as of April 30, 2005). It is one of the largest financial services groups in the world. Investors can buy or sell the Mutual Fund through their financial advisor or through mail or through their website. They have Open end Diversified Equity schemes, Open end Sector Equity schemes, Open end Hybrid schemes, Open end Tax Saving schemes, Open end Income and Liquid schemes, Closed end Income schemes and Open end Fund of Funds schemes to offer.

Morgan Stanley Mutual Fund India

Morgan Stanley is a worldwide financial services company and its leading in the market in securities, investmenty management and credit services. Morgan Stanley Investment Management (MISM) was established in the year 1975. It provides customized asset management services and products to governments, corporations, pension funds and non-profit organisations. Its services are also extended to high net worth individuals and retail investors. In India it is known as Morgan Stanley Investment Management Private Limited (MSIM India) and its AMC is Morgan Stanley Mutual Fund (MSMF). This is the first close end diversified equity scheme serving the needs of Indian retail investors focussing on a long-term capital appreciation.

Escorts Mutual Fund

Escorts Mutual Fund was setup on April 15, 1996 with Excorts Finance Limited as its sponsor. The Trustee Company is Escorts Investment Trust Limited. Its AMC was incorporated on December 1, 1995 with the name Escorts Asset Management Limited.

Alliance Capital Mutual Fund

Alliance Capital Mutual Fund was setup on December 30, 1994 with Alliance Capital Management Corp. of Delaware (USA) as sponsorer. The Trustee is ACAM Trust Company Pvt. Ltd. and AMC, the Alliance Capital Asset Management India (Pvt) Ltd. with the corporate office in Mumbai.

Benchmark Mutual Fund

Benchmark Mutual Fund was setup on June 12, 2001 with Niche Financial Services Pvt. Ltd. as the sponsorer and Benchmark Trustee Company Pvt. Ltd. as the Trustee Company. Incorporated on October 16, 2000 and headquartered in Mumbai, Benchmark Asset Management Company Pvt. Ltd. is the AMC.

Canbank Mutual Fund

Canbank Mutual Fund was setup on December 19, 1987 with Canara Bank acting as the sponsor. Canbank Investment Management Services Ltd. incorporated on March 2, 1993 is the AMC. The Corporate Office of the AMC is in Mumbai.

Chola Mutual Fund

Chola Mutual Fund under the sponsorship of Cholamandalam Investment & Finance Company Ltd. was setup on January 3, 1997. Cholamandalam Trustee Co. Ltd. is the Trustee Company and AMC is Cholamandalam AMC Limited.

LIC Mutual Fund

Life Insurance Corporation of India set up LIC Mutual Fund on 19th June 1989. It contributed Rs. 2 Crores towards the corpus of the Fund. LIC Mutual Fund was constituted as a Trust in accordance with the provisions of the Indian Trust Act, 1882. . The Company started its business on 29th April 1994. The Trustees of LIC Mutual Fund have appointed Jeevan Bima Sahayog Asset Management Company Ltd as the Investment Managers for LIC Mutual Fund.

GIC Mutual Fund

GIC Mutual Fund, sponsored by General Insurance Corporation of India (GIC), a Government of India undertaking and the four Public Sector General Insurance Companies, viz. National Insurance Co. Ltd (NIC), The New India Assurance Co. Ltd. (NIA), The Oriental Insurance Co. Ltd (OIC) and United India Insurance Co. Ltd. (UII) and is constituted as a Trust in accordance with the provisions of the Indian Trusts Act, 1882.

HSBC Mutual Funds

Funds Details

Investment needs of an individual vary over time and depend on his / her investment objectives and financial goals. Defining your investment objectives and identifying financial goals is the key to financial security and wealth.
Once investment objectives have been identified, you now need to plan meticulously to achieve them. Investment experts around the world advise instruments like equity funds and stocks for long-term (more than 5 years), income funds for medium-term and liquid funds for short-term needs.

The investment matrix above depicts a broad variety of available investment options in mutual funds. These are categorized by risk / return levels. Those at the top provide for a greater opportunity for long-term capital growth with a higher risk level while those at the bottom take care of current income and conservation of capital with a lower risk level. HSBC Mutual Fund offers products at both ends to cater to your individual needs.

Equity Products

HSBC Equity Fund
HSBC India Opportunities Fund
HSBC Midcap Equity Fund
HSBC Advantage India Fund
HSBC Tax Saver Equity Fund
HSBC Unique Opportunities Fund
HSBC Dynamic Fund
HSBC Emerging Markets Fund
HSBC Small Cap Fund

Debt Products

HSBC MIP
HSBC Gilt Fund
HSBC Income Fund
HSBC Floating Rate Fund
HSBC Cash Fund
HSBC Fixed Term Series
HSBC Liquid Plus Fund

Product Add ons

HSBC Systematic Investment Plan Plus (HSBC SIP Plus)
HSBC Systematic Investment Plan (HSBC SIP)
HSBC Systematic Transfer Plan (HSBC STP)

Mutual funds are a tax efficient investment vehicle. Tax benefits are available for investments made in both equity and debt mutual funds. Additionally, there are other benefits to investing in mutual funds. To know more about these benefits, follow the links below.

Tax Benefits of Investing in Mutual Funds Benefits of Investing in Mutual Funds Privacy and Security Terms of Use Hyperlink Policy Risk Factors © Copyright. HSBC Asset Management (India) Private Ltd. All rights reserved

Birla Sun Life-Offshore Schemes-2

Excel India Fund

Excel India Fund is an open-ended unit trust created under the laws of Ontario, Canada pursuant to a declaration of trust dated November 17, 1997. Excel Funds Management Inc. is the manager, trustee and promoter of the Fund. The principal office of Excel and the Fund is located at 2000 Argentia Road, Plaza Four, Suite # 290, Mississauga, Ontario, L5V 1W1. The Fund is open for subscription to the Residents of Canada.

Excel India Fund invests most of its assets in India Excel (Mauritius) Fund (the "Mauritius Sub-fund") which is an open-ended investment trust organized under the laws of Mauritius. The Mauritius Sub-fund in turn invests most of its assets in India Excel (Offshore) Fund (the "India Sub-fund') established as a dedicated Sub-fund of Birla Mutual Fund. India Excel (Offshore) Fund is managed by Birla Sun Life Asset Management Company Limited. India Excel (Offshore) Fund invests in a diversified portfolio of well researched, globally competitive Indian companies with sound growth potential.

For complete details on Excel India Fund visit the official website of Excel Funds Management Inc. www.excelfunds.com

Who can invest?

The fund is open for subscription to residents of Canada.

How to invest?

Units of EIF are offered for sale on a continuous basis. Units of the Fund may be purchased by submitting a purchase order through a registered investment dealer, securities dealer or mutual fund dealer in all provinces of Canada. The investor can choose one of three commission options when purchasing units of the Fund, namely the Initial Sales Charge Option, Deferred Sales Charge Option or Volume Sales Charge Option. You can fill up the form and send it to the following address along with payment advice.

Ms. Wendy Roland
Excel Funds Management Inc.
2000 Argentia Rd.
Plaza 4, suite 280
Mississauga, Ontario
Canada
L5N 1W1
Tel: (888) 813 9813
email: excel@excelfunds.com

Why should you invest?
Excel India Fund provides you an ideal opportunity to invest and create wealth through opportunities which India provides. It follows a conservative, long term approach to investments, which is based on extensive research and analysis. The equity investments are made in fundamentally strong companies and emphasis is placed on quality of management and risk control.

Birla Sun Life-Offshore Schemes-1

Offshore Schemes

India Advantage Fund

About the Fund (Company)
The Company (India Advantage Fund Ltd.) was incorporated in Mauritius on 23rd May 1996, as an investment company with limited liability with registration number 16491/2635. The Company is a "company holding a category 1 global business license" according to the Mauritian Companies Act, 2001 and is resident in Mauritius. Application was made to the Commissioner of Income Tax in Mauritius for a certificate of Mauritian tax residence, which was issued to IAFL on 15th August 1996.The Company is registered with the Financial Services Commission, Mauritius.

Birla Sun Life Asset Management Company Limited (BSLAMC) was incorporated in India on 5th September 1994, BSLAMC previously owned by the Aditya V. Birla Group and Capital International Group of USA in the ratio of 60:40 is now held by Aditya V. Birla group as to 50% and a subsidiary of Sun Life Assurance Company of Canada (Sun Life) namely, Sun Life (India) AMC Investments Inc. as to 50%.

Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of June 30, 2007, the Sun Life Financial group of companies had total assets under management of CDN$ 435 billion.

The Aditya Birla Group is India's first truly multinational corporation. Global in vision, rooted in Indian values, the Group is driven by a performance ethic pegged on value creation for its multiple stakeholders. A US$ 24 billion conglomerate, with a market capitalisation of US$ 28 billion, it is anchored by an extraordinary force of 1,00,000 employees belonging to over 25 different nationalities. Over 50 per cent of its revenues flow from its operations across the world. The Group's products and services offer distinctive customer solutions. Its 85 state-of-the-art manufacturing units and sectoral services span India, Thailand, Laos, Indonesia, Philippines, Egypt, China, Canada, Australia, USA, UK, Germany, Hungary, Brazil, Italy, France, Luxembourg, Switzerland, Malaysia and Korea. A premium conglomerate, the Aditya Birla Group is a dominant player in all of the sectors in which it operates such as viscose staple fiber, metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilisers, insulators and financial services, telecom, BPO and IT services. The group has been adjudged the best employer in India and among the top 20 in Asia by Hewitt-Economic Times and Wall street Journal study 2007.

In December 1994, BGFL established a mutual fund, named "Birla Mutual Fund'', and appointed BSLAMC as its investments manager. The trustee of Birla Mutual Fund is Birla Sun Life Trustee Company Limited, an Indian company. The Sub-Fund has been established as a dedicated scheme of Birla Mutual Fund.

About the Fund (Management)
The Board
The Board of Directors comprises six persons. The following are the directors of the Company:
1. Mr. Kumar Mangalam Birla
2. Mr. M. Amade Hajee Dawjee Vayid
3. Mr. B.N. Puranmalka
4. Mr. Couldip B. Lala
5. Mr. Subhas C. Lallah
6. Mr. Venkatesh Mysore

The International Investment Manager
BSLAMC (Mauritius) has been appointed as investment manager of the Company, with responsibility for the general management of the Company subject to the supervision of the Directors. BSLAMC (Mauritius), was incorporated in Mauritius on 20th May,1996, and is registered with FSC, as “a Company holding a category 1 global business license “ under the Mauritian Companies Act, 2001. It has been authorized by FSC to conduct fund management business. The directors of BSLAMC (Mauritius) are:

1. Mr. Kishore Sunil Banymandhub
2. Mr. Kapil Dev Joory
3. Mr. Ajay Srinivasan
4. George Andre Robert
5. Mr. Venkatesh Mysore

The Sub-Fund Investment Manager
BSLAMC has been appointed as investment manager and administrator of the Sub-Fund. It has discretion as to the investments, which it makes on behalf of the Sub-Fund, subject to the overall policies of the Directors and the requirements that the Sub-Fund’s investments and other assets and liabilities comply with the investment objectives, policies and restrictions applicable to the Company from time to time. The directors of BSLAMC, the Sub-Fund Investment Manager are:

1. Mr. Kumar Mangalam Birla - Chairman
2. Mr. Donald Stewart
3. Mr. N.C. Singhal
4. Mr. N.N. Jambusaria
5. Mr. S.S. Raman
6. Mr. Ajay Srinivasan
7. Mr. Ashok Goenka
8. Mr. Stephan Rajotte

Administrator of the Company
International Financial Services Limited ("IFS"), a Mauritius company, acts as administrator, secretary and registrar of the Company.

Birla Sun Life-Hybrid Schemes

Balanced Funds

>>Birla Balance

>>Birla Sun Life 95' Fund

MIP

>>Birla MIP

>>Birla MIP II

>>Birla Sun Life - Monthly Income

Fund of Funds

>>Birla Asset Allocation Fund

Capital Protected Fund

>>Birla Sun Life Capital Protection Oriented Fund

Birla Sun Life-Debt Schemes

Long Term Funds

>>Birla Income Plus

>>Birla Sun Life Income Fund

>>Birla Bond Index Fund

>>Birla Dynamic Bond Fund

Gilt Fund

>>Birla Gilt Plus
>>Birla Sun Life - Government Securities Fund (LTP)

Short Term Fund

>>Birla Sun Life Liquid Plus

>>Birla Sun Life - Short Term Fund

Floating Rate Funds

>>Birla Floating Rate Fund

Cash Funds

>>Birla Cash Plus

>>Birla Sun Life - Cash Manager

Fixed Maturity Plans

>>Birla FMP

Fixed Term Funds

>>Birla Fixed Term Plan Series

Birla Sun Life - Equity Schemes - Mutual Funds-6

Birla Dividend Yield Plus

Birla Dividend Yield Plus has a portfolio that seeks to provide a combination of
High dividend yield
Substantial capital protection
Strong possibility of capital gains

Historically, stocks of high dividend yielding companies provide a high degree of protection even in a scenario when the equity markets are volatile.

Add to this protection, a good possibility of stock prices appreciating, as and when the equity markets revive. When a high dividend yield investment is made in conjunction with other parameters like:

a. Low price to book value ratio (price-to-book) and
b. Low market capitalization to sales ratio (market cap-to-sales)

The possibility of upward re-rating of the stock increases.

More..

Birla Index Fund

Birla Index Fund is an open ended Index Linked Growth Scheme with an objective to generate returns that are commensurate with the performance of the Nifty. This is the fund that benchmarks the S & P CNX Nifty and aims at delivering competitive returns through a broadly diversified portfolio. Investments in Birla Index Fund gives you access to an entire basket of Blue Chip stocks.

More...

Birla Sun Life - Equity Schemes - Mutual Funds-5

Birla Midcap Fund

Birla Midcap Fund is an open ended growth fund which focuses on investing in the Midcap segment of the market with a disciplined investment approach. More than 65% of the portfolio at any point of time comprises of Midcap stocks. Diversification and superior risk control form an integral part of the fund management strategy to keep portfolio volatility at lower levels vis-a-versa the benchmark CNX Mid-cap Index. The key portfolio strategy is summarized as follows:
Strong process driven investment philosophy matched with a disciplined risk management strategy.
Identifying stocks that can demonstrate strong growth over 3-5 years horizon.
Avoid market timing and cash calls.
Avoid concentrated & aggressive calls.
Focus on identifying scaleable businesses with objective of identifying tomorrows large-cap.
Sharpe-eye on valuations.

The fund seeks to achieve long-term growth of capital at controlled level of risk by primarily investing in Mid Cap Stocks. The Midcap segment comprises mostly of companies that have been able to sustain themselves in the initial phases of growth. Since many companies out of this segment would show higher growth in future and move towards the large cap segment, this segment offers very high potential. With over 250 stocks in the Midcap segment, there exists a large variety of business to choose from. Further, this segment is relatively under researched and hence offers an excellent opportunity for bottom-up focus thus enabling the spotting of winners ahead of the market.

More..

Birla Sun Life Special Situations Fund

Birla Sun Life Special Situations Fund endeavors to generate long-term growth by identifying stocks that may have the potential for special situation. Stocks that are undergoing or have undergone such a situation are also potential picks.

Most special situations often result in incremental value addition to a stock/business. This may get reflected in the price within a short period or gradually depending on the special situation that the company is in.

The objective of the scheme is to generate long-term growth of capital by investing in a portfolio of equity and equity related securities. The scheme would follow an investment strategy that would take advantage of special situations and contrarian investment style.

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Birla Top 100 Fund

Birla Top 100 Fund is an open ended growth scheme which will focus on investing predominantly in a diversified portfolio of Large Cap stocks. It is specifically designed for those investors who seek exposure to a broader large market capitalization stocks and growth cum value style of investing. The Fund shall invest at least 65% of its corpus in equity and equity related securities of the top 100 Indian companies as measured by market capitalization and listed on stock exchanges. The remaining portion of the portfolio can be invested in equity and equity related securities of companies other than the top 100 companies which in the opinion of the Fund Manager have attractive growth prospects and potential to outperform the broad market indices.

Birla Sun Life Long Term Advantage Fund - Series 1

The Indian stock market has witnessed a strong rally in the last four years. From a level of 2,949 in October'02 the broad based Sensex has grown to 13,072 as of March 31st 2007; An encouraging compounded annual growth of 40%.

Last 4 years have seen unprecedented YoY returns

Transition from gross under valuation to fair valuations
Re-rating of a lot of frontline stocks

While the rally has been broad based, going forward, prudent stock selection would be a key to generating superior returns. Small and mid cap segment with a large universe of stocks provide an ideal ground for identification of future
performers.

In a growing economy like India's, good quality stocks in the small and mid cap segment provide higher opportunities for growth.

A few reasons being :

The base effect translates any absolute increase in sales and net profits into higher % growth
Being smaller in size these companies are far more nimber to capture potential opportunities
These companies have a higher Re-rating potential since they are not yet in the mainstream and therefore are under researched.

Birla Sun Life - Equity Schemes - Mutual Funds-4

Birla Sun Life Equity Fund

Birla Sun Life Equity Fund is a diversified equity fund enabling investors to capitalize on the immense growth opportunities provided by the stock market while at the same time minimizing the risk.

Launched in August 1998 (as Alliance Equity Fund and subsequently taken over by Birla Mutual Fund on Sep 24, 2005), the fund is an open-ended growth scheme with a Multicap theme. It dynamically shifts weightages between large-cap and mid-cap stocks depending on the market outlook.

Significant portion of the scheme is invested in sectors with high growth prospects. Additional focus is kept in identifying sunrise industries / concept stocks. The large in-house research team is especially helpful in identifying such stocks. The fund also takes medium-term bets on certain sectoral trends to ride on the growth momentum.

The Fund invests in a wide cross-section of sectors thereby offering adequate diversification to investors.

More..

Birla Sun Life - Equity Schemes - Mutual Funds-3

Birla Long Term Advantage Fund

Birla Long Term Advantage Fund is a five year closed-end equity scheme with an objective of providing for long-term capital appreciation, by investing predominantly in a diversified portfolio of equity and equity related securities.

Birla Long Term Advantage Fund would invest in a portfolio of reasonably priced stocks that are expected to post attractive growth in the next 3-5 years' horizon.

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Birla Equity Plan

Birla Equity Plan (BEP) aims at achieving long term growth of capital along with Income Tax benefits for investors. It follows a bottom-up approach to investing, where the emphasis is on identifying companies in quality businesses with a strong competitive position and run by quality management. Essentially the focus is on long term fundamentally driven values. The fund offers superior growth opportunities. Since investments are planned for a 3 year period it helps the Fund Manager to take a long term view while selecting stocks and not remain constrained by short term liquidity pressures.

TAX BENEFITS U/S 80C:
Investments in this fund would enable you to avail benefits under Section 80C of the Income Tax Act, 1961. Investments upto Rs. 1 lakh by eligible investors in the scheme may qualify for deductions. Investors are requested to consult their tax advisor in this regard.

OPPORTUNITY FOR WEALTH CREATION:
Equities inherently offer a potential for better returns as compared to Debt instruments, which are fixed or restrictive in nature. Most of the other options under Section 80C like PPF, NSC, Bonds, etc. represent fixed returns with higher lock-in periods. However, BEP offers a lock-in of only 3 years and the potential of higher returns.

Birla Tax Plan '98

Birla Tax Plan 98 is a Close-Ended equity linked savings scheme (ELSS) launched in December 1997. Essentially the focus is on long term fundamentally driven values. The fund offers superior growth opportunities since investments are planned taking a long-term view and not constrained by short-term liquidity pressures. It follows a bottom-up approach to investing, where the emphasis is on identifying companies in quality businesses with a strong competitive position and run by quality management.

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Birla Sun Life - Equity Schemes - Mutual Funds-2

Birla Sun Life International Equity Fund

Birla Sun Life International Equity Fund is an open-ended diversified equity Scheme. It seeks to generate long-term growth of capital, by investing predominantly in a diversified portfolio of equity and equity related securities in international markets under Plan A and in the domestic and international markets under Plan B.

International Investing
>>> It's time to reach out to the world

With global markets now being open to Indian investors, you have an opportunity to invest in international stocks to diversify your portfolio across borders. Performance knows no boundaries. High Performance Stocks exist all over the world, even in markets that post low growth figures. You can now benefit from the performance of global giants like Lenovo, Adidas, Hitachi, BMW, Nestle, Boeing, Nokia, Samsung and many more...

It's time to make the World's best work for one person - You.

>>> A truly international equity fund

India and Asia, the emerging markets as we call them, constitute approximately 20% of the world market capitalization. However, there exists a world of top performers beyond the continent of Asia. A truly International Fund is one which..

Invests in stocks across the world without any regional bias.
Capitalizes on the strengths of individual countries all across the world.
Identifies top performing stocks even in markets that post low growth figures.

>>> Why should I invest in international Markets?
Equity investors should look at the vast opportunities that are available globally.
Investing internationally enables an investor to benefit from the best. Investors can capitalize on each country's strength. Egg. No one can match the mass production capabilities of China. Similarly, to select the best aircraft designer, one has to go the US.
Global markets are not correlated. They differ from each other in terms of performance, volatility, etc. Thus they offer constant opportunities for growth.
Global events may affect Indian markets while the converse is not necessarily true. Hence, diversifying your investments internationally reduces your overall risk.
There are Performing stocks all across the world. Performing Stocks are not confined to Continents or Regions. It's all a matter of selecting the right ones.

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Birla Advantage Fund

Birla Advantage Fund (BAF) is an open-ended, diversified equity fund, which aims to deliver an above average long-term performance on a sustained basis. The fund has a superior track record of more than 10 years.

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Birla Sun Life - Equity Schemes - Mutual Funds

Equity Schemes - Mutual Funds

Birla Sun Life Pure Value Fund

As savvy consumers, all of us look at great value deals in our everyday life. In the world of equity investments, investing in stocks with great value has been a timeless principle.

Value investing, is a classical approach that looks at investing in quality stocks that may be available at bargain prices. The underlying rationale being that once the factors influencing the stock prices change, these stocks may get closer to their true or intrinsic value.

Birla Sun Life Pure Value Fund is a fund that seeks to generate consistent long-term capital appreciation by investing predominantly in equity and equity related securities by following value investing strategy.

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Birla Sun Life Frontline Equity Fund

Birla Sun Life Frontline Equity Fund is an open-ended diversified equity fund, which invests in handpicked frontline stocks (i.e. stocks which have the potential of providing superior growth opportunities) such that it is representative of all leading sectors of its chosen benchmark. The scheme targets the same sectoral weights (+/- 5%) within its portfolio as the benchmark, the BSE 200. However, the choice of stocks is not limited to the benchmark, thus providing a wider universe of investible stocks.

Investing across sectors ensures diversification and at the same time investing in frontline stocks provides for a possibility of higher returns. Birla Sun Life Frontline Equity Fund is ideal for investors looking at investing in quality stocks across the leading sectors of the economy.

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Birla Sun Life Tax Relief '96

There are various income tax saving investment options available under Section 80C of the Income Tax Act. Among them, Equity Linked Savings Schemes (ELSS) offer an option of investing primarily in equity markets and thus the potential of generating higher returns. 80C investments like ELSS provide the investor with the dual benefit of Tax rebate under section 80C + Long term wealth creation.

Birla Sun Life Tax Relief '96 (BSLTR 96) is a fund which aims at achieving long term growth of capital along with Income Tax benefits for investors under section 80C. It follows a bottom-up approach to investing, where the emphasis is on identifying companies in quality businesses with a strong competitive position and run by quality management. Essentially the focus is on long term fundamentally driven values.

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Tuesday, March 18, 2008

ABN AMRO Mutual Fund

UTI Mutual Fund-ALL

UTI Mutual Fund

Open Ended
UTI Auto Sector Fund
UTI Balanced Fund
UTI Banking Sector Fund
UTI Bond Advantage Fund LTP
UTI Bond Fund
UTI Brand Value Fund
UTI Charitable & Religious Trust & Registered Society
UTI Children Career Bond Plan
UTI Contra Fund
UTI Dividend Yield Fund
UTI Dynamic Equity Scheme
UTI Equity Fund
UTI Equity Tax Savings Plan
UTI Floating Rate Fund STP
UTI Growth and Value Fund
UTI Growth Sector Fund Services
UTI Growth Sector Fund Software
UTI Index Select Fund
UTI India Advantage Equity Fund
UTI Infrastructure Fund
UTI Large Cap Fund
UTI Leadership Equity Fund
UTI Liquid Cash Plan
UTI Liquid Short Term Plan
UTI Mahila Unit Scheme
UTI Master Index Fund
UTI Master Plus Unit Scheme
UTI Master Value Fund
UTI Mastergain Unit Scheme
UTI Mastergrowth
UTI Mastershare Unit Scheme
UTI Mid Cap Fund
UTI MIS Advantage plan
UTI MNC Fund
UTI Money Market Fund
UTI Monthly Income Scheme
UTI Nifty Index Select Fund
UTI Opportunities Fund
UTI Petro Fund
UTI PSU Fund
UTI Retirement Benefit Pension Fund
UTI SPREAD Fund
UTI Sunder
UTI ULIP
UTI Unit Scheme 2002
UTI Variable Investment Scheme
UTI-Children Career Plan (Bond)
UTI-G-SEC STP
UTI-G-Sec-Investment Plan
UTI-Gilt Advantage Fund LTP
UTI-Growth Sector Fund Pharma

Close Ended
UTI Capital Protection Oriented Scheme
UTI Long-Term Advantage Fund
UTI MEPUS
UTI Wealth Builder Fund

UTI Mutual Funds IPO may hit the market in April

UTI Mutual Funds IPO may hit the market in April

UTI Mutual Funds Initial Public Offer (IPO) is likely to hit the stock market in April 2008, reports Business Standard.

The mutual fund house, which had earlier fixed the IPO price band, is likely to cut the offer price of its 48.5 million shares IPO, due to the sharp fall in the stock markets.

State-run UTI MF suffered a dip in its assets in February, which stood at Rs 524.64 billion compared to Rs 526.56 billion in the previous period.

http://freemanstrikes.blogspot.com/

UTI Infrastructure Fund -Rediff Moneywiz

Essentials

Fund category: Equity - Sector Fund
Scheme plan: Growth
Scheme type: Open Ended
Launch date: April 07, 2004
Fund manager: Mr. Sanjay Dongre
Fund info

AMC UTI Asset Management Co. (P) Ltd.
Objective Investment Objective is "capital appreciation" by investing in the companies engaged in the sectors like Metals, Building Materials, Oil ; Gas, Power, Chemicals, Engineering etc. The fund will invest in the stocks of the companies, which form the part of Basic Industries.
Asset (Rs crore) 1687.15 ( February 29, 2008 )
Dividend (Rs) 35.00 ( June 22, 2007 )

Click Here More...

UTI-Funds

UTI Funds

Click Below to find Your Schemes

http://www.utimf.com/product_services/funds/fund_display.aspx

UTI-Mutual Funds Overview

Introduction

Vision
To be the most Preferred Mutual Fund.

Our mission is to make UTI Mutual Fund:
• The most trusted brand, admired by all stakeholders
• The largest and most efficient money manager with global presence
• The best in class customer service provider
• The most preferred employer
• The most innovative and best wealth creator
• A socially responsible organisation known for best corporate governance

Genesis
Jan 14, 2003 is when UTI Mutual Fund started to pave its path following the vision of UTI Asset Management Company Limited, who has been appointed by the UTI Trustee Pvt. Limited Co. for managing the schemes of UTI Mutual Fund and the schemes transferred/migrated from the erstwhile Unit Trust of India.

The UTI Asset Management Company provides professionally managed back office support for all business services of UTI Mutual Fund (excluding fund management) in accordance with the provisions of the Investment Management Agreement, the Trust Deed, the SEBI (Mutual Funds) Regulations and the objectives of the schemes. State-of-the-art systems and communications are in place to ensure a seamless flow across the various activities undertaken by UTIMF.

UTI AMC is a registered portfolio manager under the SEBI (Portfolio Managers) Regulations, 1993 on 3rd February 2004, for undertaking portfolio management services and also acts as the manager and marketer to offshore funds through its 100 % subsidiary, UTI International Limited, registered in Guernsey, Channel Islands.

Assets Under Management
UTI Asset Management Company presently manages a corpus of over Rs. 52,464 Crores as on 31st Jan 2008 (source: www.amfiindia.com) . UTI Mutual Fund has a track record of managing a variety of schemes catering to the needs of every class of citizenry. It has a nationwide network consisting 83 UTI Financial Centres (UFCs) and UTI International offices in London, Dubai and Bahrain. With a view to reach to common investors at district level, 3 satellite offices have also been opened in select towns and districts.

We have a well-qualified, professional fund management team, who have been highly empowered to manage funds with greater efficiency and accountability in the sole interest of unit holders. The fund managers are also ably supported with a strong in-house securities research department. To ensure better management of funds, a risk management department is also in operation.

Reliability
UTIMF has consistently reset and upgraded transparency standards. All the branches, UFCs and registrar offices are connected on a robust IT network to ensure cost-effective quick and efficient service. All these have evolved UTI Mutual Fund to position as a dynamic, responsive, restructured, efficient and transparent SEBI compliant entity.

Icici-Schemes Overview

Compare Schemes

This section lets you compare the investment objectives, horizons and other critical factors like minimum investment amounts, entry / exit loads etc of different ICICI Prudential Mutual Fund Schemes, thus helping you make a more informed choice.

You can select any two ICICI Prudential Mutual Fund Schemes you want to compare from the below given drop down menu and click "Go".

Performance Analyser

This tool allows you to track NAV movements of various ICICI Prudential Mutual Fund Schemes since their inception. You can also compare the scheme performance with relevant benchmarks.

How to use the performance analyser?
Just select the date range, the scheme you wish to analyse ansd the type of analysis required. You can analyse the scheme based on its NAV / Dividend History over any period of your choice. Or, you could choose to simulate the return on Rs. 1000 invested over any period of your choice under any scheme. In schemes where the Systematic Investment Plan (SIP) option is available, you can also simulate the returns from following this approach. Alternatively you could compare scheme performance vs relevant benchmark over standard horizons (1 year, 3 years, 5 years and since inception as applicable).

By default the From Date is taken as inception date of the scheme and To Date is taken as the current date. You can change this as per your query.

Fund Facts

You are unique - and that's why what's right for someone else may not be right for you. So is the case with your investment needs. As an investor you could be very cautious or very aggressive or someone who would like to maintain a balance.

We at ICICI Prudential Mutual Fund, understand this reality and therefore to meet the investment needs of different kinds of investors we offer a range of solutions that enable them to create a portfolio of the tenor, return and risk that they desire.

On the debt market side, from simple parking solutions for efficient utilization of each rupee for each day, to long term interest rate view-based products, our range spans varying time horizons and incomes. Our debt products are managed to minimize liquidity & credit risks and also manage interest rate risks. They come with periodic dividend and growth options to enable you to choose your income streams in a manner most efficient for your needs.On the equity market side, our equity funds offer a choice of size, sectors, themes and styles to enable participation in the broad market and its segments.

The chart below plots schemes offered by ICICI Prudential Mutual Fund on a risk-return scale that helps you zero-in on the relevant schemes that match your risk taking ability and the returns you desire.

Systematic Schemes

The world of investing offers a wide array of options. You need to choose wisely according to your needs. One of the simplest and most sensible ways of investing, especially when you are just starting off on your Investment journey is to use the Systematic Investing Option.

ICICI Prudential Mutual Fund allows you to invest systematically through the following 3 different systematic investing options which allow you to make your transactions - whether purchasing a new fund, transferring between funds or redeeming from a fund - in a systematic and disciplined manner.

1. ICICI Prudential Systematic Investment Plan (ICICI Prudential SIP)
ICICI Prudential SIP allows you to make your investments in periodic installments instead of a lump sum amount. This has the following advantages:
It helps you start small, with as low as Rs. 1000 per month.
It helps you reduce the risk of mistiming the market.
It helps you buy more units when the market is down and fewer units when the market is up. Thus reducing the cost of entry.
You can apply the ICICI Prudential Systematic Investment Plan on any ICICI Prudential Mutual Fund Scheme and see how it works for you by using our SIP Calculator. Click here

2. ICICI Prudential Systematic Transfer Plan (ICICI Prudential STP)

ICICI Prudential STP allows you to make a lump sum investment in a money-market or a debt oriented ICICI Prudential Scheme and subsequently transfer partial amounts to any equaity oriented ICICI Prudential Scheme at reqular intervals. This way your money continues to earn while it waits to be fully deployed in the equity scheme of your choice. You can choose from three frequencies(weekly,monthly and quarterly) if you wish to transfer your invetments from one scheme to another.

To apply for an ICICI Prudential Systematic Transfer Plan you can visit our Invest Online section. Click here

3. ICICI Prudential Systematic Withdrawal Plan (ICICI Prudential SWP)
ICICI Prudential SWP operates like the reverse of ICICI Prudential SIP. It allows you to systematically withdraw your existing investment in a ICICI Prudential Mutual Fund scheme by redeeming your units in periodic installments instead of all at one go. As in the case of the SIP, this helps you reduce your risk of mistiming your exit from a paricular scheme

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Wednesday, March 19, 2008

Tuesday, March 18, 2008

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