A quick wrap up of mutual fund industry: June 24, 2011

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A quick wrap up of mutual fund industry
Mutual Fund News as on June 24, 2011:

Change in exit load and minimum investment amount under DWS Premier Bond
Deutsche Mutual Fund has revised exit load structure under all plans of DWS Premier Bond Fund, with effect from June 27, 2011.

The revised exit load will be 1.5 percent if redeemed within 11 months from the date of allotment. Earlier exit load used to be 0.50 percent if redeemed within 6 months from the date of allotment.

Further, Deutsche Mutual Fund also revised minimum investment amount under DWS Premier Bond Fund (Institutional Plan), with effect from June 27, 2011.

The revised minimum investment amount will be Rs 1 crore and in multiples of Rs 1 thereafter. Earlier minimum investment amount under DWS Premier Bond Fund (Institutional Plan) used to be Rs 50 lakh and in multiples of Rs 1 thereafter.

Birla Sun Life Mutual Fund offer units through NSE and BSE
Birla Sun Life Mutual Fund has announced that with effect from June 24, 2011, units of Birla Sun Life Cash Plus and Birla Sun Life Floating Rate – Short Term will be available for transaction through the Mutual Fund Service System (MFSS) of NSE and StAR MF of BSE.

IDFC MF increased Maximum STP Amount of IDFC Premier Equity Fund
IDFC Mutual Fund has decided to increase the maximum Systematic Transfer Plan (STP) amount to Rs 1 crore (each transfer) in IDFC Premier Equity Fund with effect from June 24, 2011.

(To know what is STP, click here)

Under the STP, the investor need to have minimum number of six installments. In case the investor does not honor the minimum six installments the AMC reserves right to take appropriate action as deemed fit.

OneIndia Money

Read more about: mutual funds, birla sun life, bse, nse
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