NFO NEST

April 2016

NFOs with hindi names to tap the rural market

Several mutual fund companies have approached SEBI for launching plans with Hindi names so that investors in rural areas understand the objectives of the schemes in a better manner. The move is seen as moving away from the old tradition of English names for investment schemes. 'Bal Vikas Yojana', a scheme aimed at saving for children's future, Kar Bachat Yojana, a tax saving fund, 'Bachat Yojana' and 'Nivesh Lakshya' both fixed income schemes, are some of the mutual fund schemes with Hindi names, filed with SEBI by Mahindra Mutual Fund and Reliance Mutual Fund.

There is a dearth of NFOs in the April 2016 NFONEST.

ICICI Prudential India Recovery Fund – Series 5
Opens: April 18, 2016
Closes: May 2, 2016

ICICI Prudential Mutual Fund has introduced a close ended growth fund, ‘ICICI Prudential India Recovery Fund-Series 5’. The investment objective of the fund is to provide capital appreciation by investing in equity and equity related securities that are likely to benefit from recovery in the Indian economy. The fund’s erformance will be benchmarked against S&P BSE 500 Index and its fund managers are George Heber Joseph, Atul Patel, and Shalya Shah.

Reliance Dual Advantage Fixed Tenure Fund IX – Plan C

Opens: April 20, 2016Closes: May 2, 2016

Reliance Dual Advantage Fixed Tenure Fund IX – Plan C is a hybrid debt-oriented conservative closed-end fund. The fund seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the fund along with capital appreciation through equity exposure. The fund is benchmarked against the CRISIL Composite Bond (80%) and Nifty 50 (20%). The fund managers are Anju Chajjer and Sanjay Parekh.

UTI Capital Protection Oriented Fund – Series IV-VII

Opens: April 20, 2016Closes: May 4, 2016

UTI Capital Protection Oriented Fund – Series IV-VII (1278 days) is a close-ended capital protection-oriented fund. The fund endeavors to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments. The fund is benchmarked against the CRISIL MIP Blended Index. The fund managers are Sunil Patil and V. Srivatsa.

DHFL Pramerica Money Market Fund, UTI-Retirement Benefit Pension Fund -Wealth Maximiser Plan (WMP) and Income Generator Plan (IGP), ICICI Prudential Liquid ETF, Sundaram Select Micro Cap Series XI-XIII, Mahindra Bal Vikas Yojana, Mahindra Liquid Fund, Reliance Nivesh Lakshya Fund, Franklin India Retirement Solution Fund, Reliance Korea Equity Fund, and Mahindra Mutual Fund 'Kar Bachat Yojana' are expected to be launched in the coming months.