Reliance Fixed Horizon Fund – XXIX – Series 14 Floats On

NFO period is from 05 November to 09 November 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 14, a close ended income scheme with the duration of 1112 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. 

The new issue will be open for subscription from 05 November to 09 November 2015. 

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue. 

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. 

The scheme offers growth and dividend pay out option under both regular plan and direct plan. 

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is Crisil Composite Bond Fund Index. 

The fund manager of the scheme will be Amit Tripathi. 

SBI Debt Fund Series B – 27 (1100 Days) Floats On

NFO period is from 13 November to 16 November 2015 

SBI Mutual Fund has unveiled a new fund named as SBI Debt Fund Series B – 27, a close ended debt scheme. The tenure of the scheme is 1100 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 November and close on 16 November 2015. 

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme. 

The scheme offers regular and direct plan. Both the plans will have growth and dividend option. 

The scheme will invest 60%-100% of assets in debt and invest upto 40% of assets in money market securities with low to medium risk profile. Exposure to domestic securitized debt may be to the extent of 40% of the net assets. 

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. 

Entry and exit load charge will be nil for the scheme. 

The units of the scheme will be listed on NSE in order to provide liquidity. 

Benchmark Index for the scheme is CRISIL Short Term Bond Fund Index. 

The fund manager of the scheme is Rajeev Radhakrishnan. 

HDFC Fixed Maturity Plan 1107D November 2015 (1) Floats On

NFO period is from 10 November to 17 November 2015

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1107D November 2015 (1), a plan under HDFC Fixed Maturity Plans – Series 34 (a close-ended income scheme). The tenure of the scheme is 1107 days from the date of allotment of units. 

The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 10 November to 17 November 2015. 

The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan. 

The plan shall offer three options – growth, dividend and flexi option. 

The plan would invest 80%-100% of assets in debt instruments & government securities with medium risk profile and invest upto 20% of assets in money market instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be not applicable for the plan. 

Benchmark Index for the plan is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Anil Bamboli & Rakesh Vyas (Dedicated fund manager for overseas investments). 

Mutual funds turn net sellers

Net outflow of Rs 89.80 crore on 4 November 2015

Mutual funds sold shares worth a net Rs 89.80 crore yesterday, 4 November 2015, as compared with net inflow of Rs 352.40 crore on 3 November 2015. 

The net outflow of Rs 89.80 crore on 4 November 2015 was a result of gross purchases of Rs 685 crore and gross sales of Rs 774.80 crore. On that day, the Sensex fell 37.67 points or 0.14% to settle at 26,552.92, its lowest closing level since 1 October 2015. 

Mutual funds have purchased shares worth a net Rs 429.80 crore in this month so far (till 4 November 2015). They had bought shares worth a net Rs 2935.40 crore in October 2015. 

Canara Robeco MF Announces change in constitution of the board of directors

Canara Robeco Mutual Fund has announced that Antony Edwards has resigned from the board of directors of Canara Robeco Asset Management Company. 

Bond yield rises

10-year G-sec Paper yield closes at 7.65% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, increased 02 basis points (bps) to 7.65%, compared with 7.63% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 30,995 crore. 

Bond yield increased tracking fall in Rupee. 

The weighted average rate in the overnight call money eased to 6.49% compared with 6.66% in previous session. The call money rate hovered in the range of 5.40% to 6.95% with the volume of Rs 10,175.27 crore. 

Rupee slumps further

At 65.6450/6550 per dollar 

Rupee closed lower at 65.6450/6550 per dollar on Tuesday (03 November 2015), versus its previous close of 65.59/60 per dollar.

Asia Pacific Market: Stocks take heart from US rally

Asia Pacific share market advanced on Tuesday, 03 November 2015, as investors risk sentiments boosted by tracking rally on the Wall Street overnight and on hopes that US interest rates are not likely to rise as quickly as previously thought. Meanwhile, sentiments also received boost from the Australia's central bank decision to left the door open to lower interest rates, underlining a trend for the region's policymakers to keep stimulus taps open. 

Overnight, US stocks closed in the green reflecting positive reaction to M&A activity and better than expected economic data. The Dow Jones rose 165.22 points, or 0.94%, the S&P 500 gained 24.69 points, or 1.19%, and the Nasdaq Composite added 73.40 points, or 1.45%.
The Reserve Bank of Australia on Tuesday held the cash rate at 2% for the sixth month in a row, but left the door open to another cut if growth and inflation fail to pick up in the next few months. Striking a slightly less fixed tone about current settings, RBA governor Glenn Stevens said in his statement that "the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand". Central banks in China, Japan, Singapore and other Asian countries are also trying to support growth with accommodative monetary policy. 

Among Asian bourses
  
Australian market rebounds 1.4%
 
The Australian share market record its first gain in seven sessions, as investors chased for bargain buying across the board on tracking rally on the Wall Street overnight and indication from the Reserve Bank of Australia to another cut if growth and inflation fail to pick up in the next few months. The benchmark S&P/ASX 200 index advanced 73.40 points, or 1.42%, to 5165.80 points, while the broader All Ordinaries index jumped 69.90 points, or 1.34%, to 5291.20 points.

China market ends softer 
 
The Mainland China stock market settled mild softer after moving between gains and losses in thin trading, amid concerns over a cooling economy and a continuing crackdown on risky trading. Investors were also cautious ahead of more details on Beijing's 13th-five year plan, a blue-print of policy priorities of the Chinese Communist Party Central Committee. The Shanghai Composite Index declined 0.25%, or 8.39 points, to close at 3316.70 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.03%, or 0.50 point, to close at 1987.47. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was down 0.11%, or 2.77 points, to close at 2429.27. Total volume of A shares traded in Shanghai was 19.2 billion shares, while Shenzhen volume was 22.4 billion shares. 

Hong Kong market gains 0.9%
 
Hong Kong stock market advanced as risk sentiments buoyed by tracking rally on the Wall Street overnight. But gains were limited amid jitters surrounding a crackdown on illegal futures trading in Beijing and ongoing anti-corruption investigations into companies such as Dongfeng Motor Group. The benchmark Hang Seng Index advanced 198.39 points, or 0.89%, to 22568.43 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 43.09 points, or 0.42%, to 10283.42 points. Turnover reduced slightly to HK$64.6 billion from HK$67.4 billion on Monday. 

Indian markets snaps 6-day losing streak
 
Indian stock market ended marginally higher after swinging between gains and losses, as concerns about earnings continued to weigh, although higher Asian shares supported sentiment. Sensex closed 31.44 points up at 26,590.59 and snapped its 6-day losing streak. Similarly, Nifty closed 9.90 points up 8,060.70.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 1.1% to 873.19. South Korea's KOPSI added 0.7% to 2048.40. Singapore's Straits Times index gained 0.9% at 2999.56. Indonesia's Jakarta Composite index rose 1.5% to 4533. Malaysia's KLCI gained 0.8% to 1677.56. New Zealand's NZX50 grew 0.6% to 6022. Japan market closed for the Culture Day holiday.

Sundaram Long Term Tax Advantage Fund -Series II Floats On

NFO period is from 03 November 2015 to 15 March 2016 

Sundaram Mutual Fund has launched a new fund named as Sundaram Long Term Tax Advantage Fund -Series II, a 10 year close ended equity linked savings scheme. The duration of the scheme is 10 years from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 03 November 2015 and closes on 15 March 2016. 

The investment objective of the Scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies along with income tax benefit. 

The scheme offers growth and dividend payout (quarterly & half yearly) options. 

The scheme will allocate 80%-100% of assets in equity & equity related securities with high risk profile and invest upto 20% of assets in fixed income and money market securities with low to medium risk profile. 

The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period. 

The scheme is proposed to be listed on NSE. 

Entry load: Nil 

Exit load: Not applicable. 

The scheme's performance will be benchmarked against S&P BSE 500 Index. 

The scheme will be managed by S. Krishnakumar & Dwjendra Srivastava. 

Canara Robeco MF Announces Appointment of Associate Director

With effect from 01 November 2015 

Canara Robeco Mutual Fund has announced that Rakesh Sharma has been appointed as an Associate Director on the Board of Directors of Canara Robeco Asset Management Company, with effect from 01 November 2015. 

ICICI Prudential MF Announces Change in Fund Managers under two schemes

With effect from 02 November 2015

ICICI Prudential Mutual Fund has announced the following change in the fund managers in addition to the other schemes managed by them, with effect from 02 November 2015. 

Accordingly, ICICI Prudential Long Term Equity Fund will be managed by George Heber Joseph and ICICI Prudential Child Care Plan – Gift Plan will be jointly managed by George Heber Joseph (Equity) & Manish Banthia (Debt). 

Mutual funds continue buying

Net inflow of Rs 167.20 crore on 2 November 2015

Mutual funds bought shares worth a net Rs 167.20 crore yesterday, 2 November 2015, as compared with net inflow of Rs 1645.30 crore on Friday, 30 October 2015. 

The net inflow of Rs 167.20 crore on 2 November 2015 was a result of gross purchases of Rs 792.40 crore and gross sales of Rs 625.20 crore. On that day, the Sensex lost 97.68 points or 0.37% to settle at 26,559.15, its lowest closing level since 1 October 2015. 

Mutual funds had bought shares worth a net Rs 2935.40 crore in October 2015. 

FPIs continue selling

Net outflow of Rs 187.52 crore on 2 November 2015 

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 187.52 crore yesterday, 2 November 2015, compared with net outflow of Rs 1375.22 crore on Friday, 30 October 2015. 

The net outflow of Rs 187.52 crore from the secondary equity markets on 2 November 2015 was a result of gross purchases of Rs 3284.90 crore and gross sales of Rs 3472.42 crore. On that day, the Sensex had lost 97.68 points or 0.37% to settle at 26,559.15, its lowest closing level since 1 October 2015. 

There was an inflow of Rs 180.74 crore into the category 'primary markets & others' on 2 November 2015. 

FPIs have purchased stocks worth a net Rs 6358.77 crore from the secondary equity markets in October 2015. 

FPIs have bought shares worth a net Rs 5077.10 crore from the secondary equity markets in calendar year 2015 so far (till 2 November 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 290.81 crore in October 2015. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 21250.50 crore in calendar year 2015 so far (till 2 November 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014.