ICICI Prudential Mutual Fund has has launched a systematic withdrawal plan (SWP) at quarterly frequency in ICICI Prudential Corporate Bond, which is an open-ended debt scheme. Unitholders of the scheme can opt to withdraw a specified amount, the minimum being R500 and in multiples of R1 at quarterly intervals from the scheme. The objective of the fund is to generate income through investments in a range of debt and money market instruments of various maturities to maximise income while maintaining the optimum balance of yield, safety and liquidity.
IIFL MF launches short-term fund
IIFL Mutual Fund has launched an open-ended income scheme where the NFO will close on September 11. The asset allocation will be in debt instruments and, or, money market instruments to the extent of 80-100% with a residual maturity of less than 3 years and 0-20% in debt instruments with a residual maturity of less than 5 years. The scheme would invest in securities with an average maturity of up to 3 years. There are three options under this scheme — growth, dividend and bonus, and systematic investment plan. An exit load of 0.50% is charged for exits before three months from the allotment date.
Tata MF dividend for balanced fund
Tata Mutual Fund has declared dividend under the monthly dividend option of Plan A and Direct Plan under Tata Balanced Fund and the record date for the dividend is September 4. The dividend amount on the face value of R10 per unit will be R0.25 per unit under each plan.
ICICI Prudential MF introduces FMP
ICICI Prudential Mutual Fund has launched a new fund offer (NFO) for a fixed maturity plan of 745 days. The NFO of the close-ended income scheme closes on September 6. Being a listed scheme, there will be no exit load. The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme. The minimum subscription amount is R5,000 and the scheme’s performance will be benchmarked against the Crisil Short Term Bond Fund Index.
UTI MF’s dividend under monthly plan
UTI Fund has declared dividend under dividend sub-option of UTI Fixed Income Interval Fund Monthly Interval Plan. The record date for dividend is September 4 and the rate will be 100% of distributable surplus as on the record date on the face value of R10 per unit.
ING MF’s dividend under FoF