Kotak MF Announces Changes in Key Personnel

Kotak Mutual Fund has announced that Mr. Gaurang Shah is appointed as Director on the Board of Kotak Mahindra Asset Management Company Limited and Mr. Sandeep Kamath as Compliance Officer with effect from 1 May 2010.

Mr. Narayan S.A. has ceased to be the Director of Kotak Mahindra Asset Management Company Limited with effect from 1 May 2010.

Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24

DSP BlackRock MF to Transact Additional Schemes through Online MF Platform

DSP BlackRock Mutual Fund has announced that the units of the following additional schemes will be available for transaction through MFSS (Mutual Fund Service System) and BSE StAR MF (BSE Stock Exchange Platform for Allotment and Repurchase of Mutual Funds), trading platforms of NSE and BSE respectively, with effect from 17 May 2010.

The eligible schemes are DSP BlackRock Bond Fund, DSP BlackRock Floating Rate Fund – Regular Plan, DSP BlackRock Government Securities Fund, DSP BlackRock Treasury Bill Fund, DSP BlackRock Money Manager Fund – Regular Plan, DSP BlackRock Short Term Fund, DSP BlackRock Strategic Bond Fund – Regular Plan, DSP BlackRock World Energy Fund – Regular Plan, DSP BlackRock World Gold Fund – Regular Plan, DSP BlackRock World Mining Fund – Regular Plan and DSP BlackRock Natural Resources and New Energy Fund – Regular Plan.

Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24

No trail commission if MF account is transferred

Association of Mutual Funds in India (AMFI) has announced that distributors will not get trail commission in case the investor transfers his Mutual Fund (MF) account. The unpaid trail commission will be put in an investor education find. SEBI had earlier allowed investors to change distributors without No Objection Certificate from current distributor; this had led to a sharp rise in the transfer of accounts. As per the new guideline, AMC will not pay trail commission to either the old or the new distributor if MF account is transferred.

Source: https://www.karvymfs.com/karvy/InformationCenter/News_Get.aspx