LIC Mutual Fund has declared dividends in LIC G-Sec and Bond Funds. The record date for both the funds is November 7, 2001. Both LIC Government Securities Fund and LIC Bond Fund will pay a dividend of 3.5 per cent (Rs 0.35 per unit) each. While LIC G-Sec Fund has posted a one-year return of 14.73 per cent, LIC Bond Fund has provided a one-year return of 16.21 per cent, as on October 31, 2001.
Birla Income Plus, a medium-term debt fund from Birla SunLife AMC will be available on a "no-load basis" for investments of Rs 5 crore or above from November 1 to 30, 2001. While the fund does not charge an entry load, an exit load of 0.25 per cent is charged for redemption within 90 days of investment. With a consistence performance over its six-year track record, Birla Income Plus has returned an annualised 13.44 percent since launch.
Birla Mutual Fund has introduced fresh options in its series of Fixed Maturity Plans. Apart from recently launched Quarterly Plan (Group 1); it has now come up with Quarterly Plan (Group 2), Half-Yearly Plan (Group 1) and Long Term Plan (Group A).
All the above are open-end income schemes. The Quarterly and Half-Yearly Plans will be open for subscription from November 6, 2001 to November 19, 2001, whereas for Long Term Plan, it will be from November 19, 2001 to November 30, 2001.
Minimum subscription for the Quarterly and Half-Yearly Plan will be for Rs 1,00,000 and in multiples of Rs. 10,000 thereafter, and for Long Term Plan, it will be for Rs 25,000 and in multiples of Rs 10,000 thereafter at an issue price of Rs 10 per unit.
The objective of all the above schemes is to generate income through investments in debt and money market instruments including derivatives. There is no entry load for all the schemes but has an exit load of 1% in Quarterly Plan, 2% (No load between 8th and 15th March 2002) in Half-Yearly Plan and 4% in Long Term Plan.
Franklin Templeton Mutual Fund has announced changes in the pricing structure of Templeton India Liquid Fund (TILF), with effect from November 01, 2001. For subscription, the applicable NAV for subscription will be the NAV of the day prior to the day when the purchase request is made.
For redemption, the applicable NAV for redemption will continue to be the NAV at the close of business day on which the application for redemption is accepted except in the following case : The applicable NAV for redemption accepted on a day which is followed by a non-business day(s), will be the NAV of the day prior to the following business day.
