Mutual funds step up selling

Mutual funds (MFs) sold shares worth a net Rs 298.10 crore on Thursday, 22 July 2010, higher than Rs 201.20 crore on Wednesday, 21 July 2010.

The net outflow of Rs 298.10 crore on 22 July 2010 was a result of gross purchases Rs 596.30 crore and gross sales Rs 894.40 crore. The BSE Sensex surged 135.92 points or 0.76% to 18,113.15 on that day.

MFs sold shares worth net Rs 2276.60 crore in July 2010 (till 22 July 2010). Mutual funds had sold equities worth a net Rs 1093.10 crore in June 2010.

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

Franklin Templeton MF Announces Change in Fundamental Attributes of Templeton Monthly Income Plan

Franklin Templeton Mutual Fund has announced change in Fundamental Attributes of Templeton Monthly Income Plan with effect from 26 July 2010. The following are the proposed changes.

Revised Name of the Scheme: Templeton India Low Duration Fund

Type of Plan Introduced: Growth Plan.

Asset Allocation Pattern: The scheme would allocate upto 100% of assets in debt including corporate debt, PSU, Gilts and Securitized debt with low to medium risk, upto 20% in Money Market instruments with low risk profile and up to 15% in Equity and Equity linked schemes with medium to high risk profile.

Load Structure: Entry load charge will be nil for the scheme. Exit load charge will be 0.50% of the NAV if investors who redeem/switch out such investments within 3 months from the date of allotment.

Minimum Application/Redemption Amount: Minimum investment Rs 10000 additional/redemption amount of Rs 1000.

This addendum forms an integral part of the Scheme Information Document. All the other terms and conditions will remain unchanged.

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

UTI Dividend Yeild Fund declares 5% dividend

The record date for the dividend is July 27, 2010.

UTI Dividend Yield Fund declares tax-free dividend of 5% (Re.0.50 per unit on face value of Rs.10). Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any.

The record date for the dividend is July 27, 2010.

All unitholders registered under the dividend option of UTI Dividend Yield Fund as on July 27, 2010 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.

The NAV per unit as on July 21, 2010 was Rs. 14.91 under the dividend option.

Source: http://www.indiainfoline.com/Markets/News/UTI-Dividend-Yeild-Fund-declares-5-percent-dividend/4888707747