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Equity MF grows despite entry load ban, Morgan Stanley Report

Monday, February 28, 2011
By Anand Birai

In a report on the mutual funds in India, Morgan Stanley has revealed that the industry is gaining momentum despite the entry load ban. It may be recalled that the ban on entry load came into effect on August 1, 2009. However, the gross inflow in equity funds have been increasing slowly but steadily stated the report, touching a 3-year high in 2010. The report mentions that the SEBI ban has not affected the relative position of the industry in the equity markets.

The mutual fund industry, on the other hand, is claiming that the entry load ban has adversely impacted the industry. According to the report, the gross inflows in equity-based mutual funds have been about Rs 60,000 crore to Rs 70,000 crore. This growth was registered in the ongoing equity schemes for 2010. The inflows remained at Rs 40,000 crore and Rs 50,000 crore for the years of 2008 and 2009 respectively.

MF UPDATE
Infra Equity Fund from IDFC MF
IDFC Mutual Fund’s IDFC Infrastructure Equity Fund is closing on February 28, 2011. The new issue was opened for subscription on February 14, 2011. The IDFC Infrastructure Equity Fund is an open ended equity scheme and its investment objective is to generate long term capital growth by investing predominantly in equity and equity related instruments.
Kotak Midcap Fund announces dividend
Kotak Mutual Fund has declared dividend under Kotak Midcap Fund. The dividend will be on the face value of Rs 10 per unit. The quantum of dividend for distribution will be Rs 1.50 per unit with the record date for dividend distribution of February 28, 2011. Kotak Midcap Fund is an open ended equity growth scheme with an investment objective to generate capital appreciation by investing in equity and equity related instruments.
Dividend announcement for Taurus Tax Shield Mutual Fund
Taurus MF’s Tax Shield Fund has declared dividend on the face value of Rs 10 per unit with the record date of February 28, 2011 in a quantum of Rs 1.25 per unit. Taurus Tax Shield Fund is an open ended equity linked tax savings scheme with an investment objective to generate long term capital appreciation by investing pre-dominantly in equity securities.
  Dividend announcement for Edelweiss ELSS Mutual Fund
Edelweiss Mutual Fund, under its ELSS Fund, an open ended equity scheme has announced the dividend in a quantum of Rs 2 per unit. The record date for dividend distribution is 25th February 2011. The objective of the scheme is to generate long term capital appreciation from a portfolio that invests in equity and equity related instruments.  
IDFC Mutual Fund’s Classic Equity Fund announces dividend
IDFC Mutual Fund has declared dividend under IDFC Classic Equity Fund. The record date for dividend distribution will be February 25, 2011. The quantum of dividend for distribution will be Rs 2 per unit and the scheme’s investment objective is to generate capital appreciation and provide income by investing predominantly in equity and equity related instruments.
ING Mutual Fund renames ING Nifty Plus Fund
ING Mutual Fund has revised name of ING Nifty Plus Fund to ING Large Cap Equity Fund effective from February 25, 2011. Following the revision, the scheme would deploy 70 to 100 per cent of its corpus in securities constituting the S&P CNX Nifty Index as against the existing 70 to 95 per cent. The unit holders disagreeing with the revision can redeem their units from February 23 to March 24, 2011 without any exit load. Other features of the scheme will remain same.
HDFC Mutual Fund announces dividend under two schemes
HDFC Mutual Fund has declared dividend under HDFC Growth Fund and HDFC Capital Builder Fund. The quantum of dividend will be Rs 3 per unit and Rs 2.50 per unit for HDFC Growth Fund and HDFC Capital Builder Fund respectively with the record date of February 24, 2011. HDFC Growth Fund is an open ended growth scheme with an investment objective to generate long term capital appreciation by investing predominantly in equity and equity related instruments. HDFC Capital Builder Fund is an open ended growth scheme with an investment objective to achieve capital appreciation in the long term.
New fund - Sundaram Capital Protection Oriented Fund, from Sundaram MF
Sundaram has launched Capital Protection Oriented Fund Series 2 - 5 years. The closed ended scheme bears tenure of 5 years from the allotment date. The fund will offer the units at Rs 10 per unit during the new fund offer. The new issue period closes on February 28, 2011. The schemes objective would be to seek income and at the same time, minimising risk of capital loss by investing in a portfolio of fixed income securities. The scheme also may invest a part of the assets in equity to seek capital appreciation. The scheme offers dividend payout and growth option. The fund will be benchmarked against Crisil MIP Blended Index and the Fund Managers would be Mr. Dwijendra Srivastava and Mr. S.Krishnakumar.
SIP facility under Reliance Gold Savings Fund
Reliance Mutual Fund has announced the launch of systematic investment plan in gold through its scheme - Reliance Gold Savings Fund. The passively managed fund by Mr. Hiren Chandaria will help the investors with add on facility like systematic withdrawal plan, systematic transfer plan, auto- switch and trigger facility. The scheme will be benchmarked against the price of physical gold and an exit load of 2 per cent will be charged on redeeming or switching out before one year from the date of allotment. The new fund offer will close on February 28, 2011 and it was opened on February 14, 2011.
 

TOP PERFORMING MF SCHEMES IN DIFFERENT SEGMENTS FOR 1 YEAR
Scheme Name                          Nature    1 M %    6 M %    1 Y %    3 Y %
Escorts High Yield Equity         Equity    -6.08    -5.17    22.36    2.72
ICICI Prudential SMART F        Debt    -    -    17.24    -
HDFC Prudence Fund - Gro    Balanced    -5.86    -5.07    16.22    12.53
HDFC Multiple Yield Fund       MIP    -0.41    1.44    8.62    9.42
Escorts Liquid Plan - Gr          Liquid    0.84    4.46    7.02    7.78
Fidelity Tax Advantage F           ELSS    -7.68    -6.59    16.82    8.08
Kotak PSU Bank ETF               ETF    -7.2    -8.98    32.72    12.53
Baroda Pioneer Gilt Fund        Gilt    1.37    5.04    19.27    7.8
HDFC Index Fund - Sensex    Index    -6.82    -3.32    11.32    5.6
*Note:- Returns calculated for less than 1 year are Absolute returns and returns calculated for more than 1 year are compounded annualized

NEW FUND OFFERS           
Name                                                      Open          Close     Category
                                                                  Date           Date   
IDFC Infrastructure Fund (D)               14-02-11    28-02-11    Regular
IDFC Infrastructure Fund (G)              14-02-11    28-02-11    Regular
HDFC Debt Fund for Cancer Cure    18-02-11    04-03-11    Regular
IDBI Monthly Income Plan (G)            14-02-11    28-02-11    Regular
IDBI Monthly Income Plan (MD)         14-02-11    28-02-11    Regular
IDBI Monthly Income Plan (QD)         14-02-11    28-02-11    Regular
Reliance Gold Savings Fund (D)      14-02-11    28-02-11    Regular
Reliance Gold Savings Fund (G)      14-02-11    28-02-11    Regular
SBI Capital Protection Fund- Sr-II    18-02-11    04-03-11    Regular
Sundaram CPOF- Sr 2 -5 yrs (D)     15-02-11    28-02-11    Regular
Sundaram CPOF- Sr 2 -5 yrs (G)     15-02-11    28-02-11    Regular
 

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