NFO NEST
November 2013
Closed-end funds on a comeback trail?
Mutual funds hit by redemptions from equity funds in recent
months, are turning to lock-in products for bringing stability to their assets
under management. Three closed-ended equity funds have been launched in the
past month or so and another is set to open soon for subscription. A lock-in
product would help funds churn better returns over the longer run, as many mid-
and small-cap stocks are trading at cheaper valuations. Moreover, such a fund forces
investors to stay invested for the long term. The lock-in for these products is
between three and five years. The investment horizon of smaller investors,
particularly in equity, had become extremely short, leading to heavy redemptions.
But, investors would not like to lock-in when the markets are turbulent.
Ironically, fund houses are now rushing to launch equity funds as the market revives with three equity funds figuring in the November 2013 NFONEST.
R* Share Nifty ETF
Opens: November
8, 2013
Closes: November 19, 2013
Reliance Mutual Fund has launched a new fund in name of R*Share Nifty ETF. The objective of the fund is to provide investment returns that, before expenses, closely correspond to the total returns of the securities as represented by the CNX Nifty Index, subject to tracking errors. It invests in securities constituting CNX NIFTY Index (95%–100%) medium to high risk profile and Money Market instruments including CBLO (with maturity not exceeding 91 days) (0% – 5%) low to medium risk profile. The fund’s performance will be benchmarked against CNX Nifty Index and its fund manager is Krishan Daga.
ICICI Prudential Capital Protection Oriented – Series IV Plan
F (60M)
Opens:
November 7, 2013
Closes: November 21, 2013
ICICI Prudential has launched
a new fund ICICI Prudential Capital Protection Oriented Fund Series IV Plan F. The
investment objective of the fund is to seek to protect capital by investing a
portion of the portfolio in highest rated debt securities and money market
instruments and also to provide capital appreciation by investing the balance
in equity and equity related securities. The debt securities will mature on or
before the maturity of the fund. Rajat Chandak, Rahul Goswami, and Atul Patel
are the fund managers.
Axis Small Cap Fund
Opens:
November 11, 2013
Closes: November 25, 2013
Axis Mutual Fund has unveiled
a new fund Axis Small Cap Fund, a five year close ended equity fund with
automatic conversion into an open ended equity scheme on completion of 5 years.
The investment objective is to generate long-term capital appreciation from a
diversified portfolio of predominantly equity and equity related instruments of
small cap companies. The fund will allocate 80% to 100% of assets in equity and
equity related instruments of small cap companies, 0% to 20% of assets in
equity and equity related instruments of non-small cap companies. The
fund will allocate upto 0% to 20% of assets in debt & money market instruments.
The fund’s performance will be benchmarked against CNX Small-cap Index. The
fund will be managed by Pankaj Murarka.
Pramerica
Midcap Opportunities Fund
Opens:
November 11, 2013
Closes: November 25, 2013
Pramerica Mutual Fund has launched a NFO in the name of Pramerica Midcap Opportunities Fund. The investment objective of the fund is to achieve long-term capital appreciation by predominantly investing in equity and equity related instruments of mid cap companies (65%–100%), equity and equity related instruments of Large Cap and Small Cap Companies (0%–35%) and Cash, Money Market, Debt Securities, Liquid and Debt fund of Pramerica Mutual Fund (0% – 35%). The fund will be benchmarked against CNX Midcap Index. B P Singh will manage the fund.
LIC Nomura Mutual Fund Capital Oriented Fund Series 1
Opens: November
11, 2013
Closes: November 25, 2013
LIC Nomura launched ' Capital
Protection Oriented Fund- Series I' ,
a 36 month close ended fund. The product is designed for investors
who are seeking to achieve capital protection. The fund will invest
85% in debt and 15% in equity. The investment objective of the fund is to
achieve capital protection by investing in fixed income securities maturing
on or before the tenure of the fund and seeks capital appreciation by investing
in equity and equity related investments. The fund is managed by Y.D.
Prasanna.
ICICI Prudential Multiple Yield Fund – Series 5 – Plan B
Opens:
November 15, 2013
Closes: November 29, 2013
ICICI Prudential
has launched a new fund ICICI Prudential Multiple Yield Fund – Series 5 – Plan
B. The primary objective of the fund is to seek to generate income by investing
in a portfolio of fixed income securities/
debt instruments. The secondary objective of the fund is to generate long term
capital appreciation by investing a portion of the fund' s
assets in equity and equity related instruments. Rajat Chandak and Aditya
Pagaria are the fund managers.
Reliance Close Ended Equity Fund – Series A
Opens:
November 15, 2013
Closes: November 29, 2013
Reliance Mutual fund has
launched a new fund -- Reliance close-ended equity fund- series A -- having a
five year lock-in period. The fund aims to provide capital appreciation to the investors,
which will be in line with their long-term savings goal,
by investing in a diversified portfolio of equity and equity related
instruments with small exposure to fixed income securities. The fund will invest across all market caps to retain
the flexibility in portfolio adjustment. Sailesh Raj Bhan will be the fund
manager.
ICICI Prudential Value Fund – Series 2
ICICI Prudential Value Fund – Series 2
Opens:
November 18, 2013
Closes: November 29, 2013
ICICI Prudential Value Fund is a three- year close-ended equity fund, which will invest in 25-30 high conviction stocks by following a value investment philosophy. The investment objective of the fund is to provide capital appreciation by investing in a well diversified portfolio of stocks through fundamental analysis. The fund managers are Sankaran Naren and Atul Paul. The fund is benchmarked against S&P BSE 500 index.
Religare Invesco Asia Consumer Demand Fund, Pramerica Overnight Fund, DWS Medium Term Income Fund, Union KBC Capital Protection-oriented Fund Series 4 and 5, Sundaram RGESS Fund Series I to V, J P Morgan Europe Dynamic Equity Offshore Fund, Religare Invesco Pan European Equity Fund, Reliance Japan Equity Fund, and HDFC Retirement Savings Fund are expected to be launched in the coming months.
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