Monday, September 17, 2007

NFO Nest

The fledgling funds ready to soar into the sky fill the nest in an ongoing basis with winged wonders taking to the sky as they get adopted by the teeming millions in the fond hope of enhancing their fortunes!

The following funds find their place in the NFO nest this September.

ABN AMRO China India Fund Opens: 3 Sept, 2007 Closes: 1 Oct, 2007

This is an open-ended fund which will invest 65 to 75 per cent of its assets in Indian equities and 25 to 35 per cent of it assets in Chinese equities. The fund will follow both top down and bottom up approaches in identifying promising stocks. It will look for companies that may benefit from the anticipated secular growth of the Chinese and Indian economies.

Birla Sunlife International Equity Fund Opens: 17 Sept, 2007 Closes: 16 Oct , 2007

The Fund is open-ended and has two plans. Plan A will invest in a portfolio of international stocks from across the globe, whereas Plan B will be a combination of domestic (65-75 per cent) as well as international (25-35 per cent).

Fidelity India Growth Fund Opens: 3 Sept, 2007 Closes: 26 Sept, 2007

It is an open-ended equity fund that will invest in growth-oriented companies in the Indian and international markets without any sector or cap bias. The fund managers will follow a bottom-up stock picking strategy. The focus will be on companies that offer best value relative to their respective long-term growth prospects, returns in capital and management quality. However, while investing in the international markets, the fund managers expect to identify such investments which can provide opportunity to participate in the Indian economy. For example - Indian businesses that are listed in international markets or international companies that participate in the Indian economy.

ICICI Prudential Indo Asia Equity Fund Opens: 23 Aug, 2007 Closes: 21 Sept , 2007

It is a diversified equity fund that will invest 65 per cent or more directly into Indian equities, and will initially invest up to 35 per cent in Asian Equity Fund (an open ended equity fund managed by Prudential Asset Management, Singapore) that invests in equity markets across the Asia-pacific region ex-Japan.

LICMF Systematic Asset Allocation Fund Opens : Aug 16, 2007 Closes: Sept 14, 2007

A closed-end hybrid equity fund, this fund would automatically be converted into an open ended fund after the completion of 36 months from the date of allotment.The fund seeks to achieve long term growth by investing initially in debt & money instruments and in a systematic and progressive manner allocating it to equities over the close-ended period. This will help to reduce the risk of volatility of the equity market. The investment approach adopted by the fund will be a mix of top down and bottom up approach. The stock selection will be based on the fundamentals of the business, the industry structure, the quality of management, corporate governance trends, sensitivity to economic factors, the financial strength of the company and the key earnings drivers. At present, there is only one fund available in the market under a similar investment style i.e Tata Sip Fund.

Lotus India Overnight Fund Opens: 12 Sept, 2007 Closes:13 Sept, 2007

The fund aims to provide a high level of liquidity and safety. The corpus of the fund will be predominantly deployed in overnight instruments with some allocation to short term securities having maturity upto 91 days. The average portfolio duration shall normally be upto 15 days. The fund may invest upto 70% in reverse repo, debt instruments, including floating rate instruments, with overnight maturity/ daily put/call option and upto 30% in debt & money market instruments with residual maturity of upto 91 days.

Tata Indo Global Infrastructure Fund Opens: 3 Sept, 2007 Closes: 16 Oct , 2007

A three year closed-end equity fund, it will automatically be converted into an open ended scheme after the expiry of three years from the date of allotment.The scheme aims to generate long term capital appreciation by investing predominantly in equity and equity related instruments of companies engaged in infrastructure and infrastructure related sectors in Asia Pacific Region including India, Europe and Latin America and other growing economies.The equity component will range between 65%- 85% of the portfolio while 15% - 35% will constitute foreign securities, debt and money market instruments will be in the range of 0% - 35%.
A majority of the NFOs during September 2007 seem to have a flair for something foreign…

AIG Infrastructure and Economic Reform Fund ,AIG Mid Cap-fund, ING Liquid Call Plus Fund, JP Morgan India Smaller Companies Fund, Lotus India AGILE Tax Fund, Sahara Real Fund and Sahara Classic Funds, UTI Dynamic Bond Fund and UTI Savings Bond Fund are expected to be launched in the coming months.

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