Key personnel changes
Canara Robeco Mutual Fund informed that Girish Hisaria has been designated as Senior Fund Manager - Fixed Income of Canara Robeco Asset Management Company from August 18, 2014. Further, it changed fund management responsibilities for a few schemes: Canara Robeco Gilt PGS and Canara Robeco Dynamic Bond Fund are now being managed by Girish Hisaria; Canara Robeco Treasury Advantage Fund, Canara Robeco Floating Rate Fund and Canara Robeco Liquid Fund are being jointly managed by Girish Hisaria and Suman Prasad.
Peerless Mutual Fund informed that from August 22, 2014, Vikram Pamnani has been appointed as Fund Manager - Fixed Income and he shall act as fund manager for Peerless Liquid Fund, Pearless Short Term Fund, Peerless Ultra Short Term Fund and Peerless Flexible Income Fund and together with Vishal Jain for Peerless Income Plus Fund, Peerless MF Child Plan and Peerless Equity Fund. Manish M. Prajapati, who was appointed as Fund Manager of the aforesaid schemes in the interim from August 15, 2014, ceases to be the fund manager for the aforesaid schemes from August 22, 2014.
New scheme launched and NFO extension
ICICI Prudential Mutual Fund launched ICICI Prudential Constant Maturity Gilt Fund, an open ended income fund. The investment objective of the scheme is to provide reasonable returns by investing in portfolio of government securities with average maturity of around 10 years. The NFO period is from August 25 to September 8, 2014. Its performance will be benchmarked to CRISIL 10-year Gilt Index and will be managed by Rahul Goswami.
ICICI Prudential has changed the default option of ICICI Prudential Value Fund-Series 5 to dividend payout option instead of cumulative option from August 26, 2014. The fund house also extended its closing date to September 5 against the previous September 2, 2014.
Fundamental changes in scheme
Union KBC Mutual Fund approved the merger of Union KBC Asset Allocation Fund - Conservative Plan with Union KBC Asset Allocation Fund - Moderate Plan from October 1, 2014. Due to this fundamental change, investors can exit without payment of exit load between September 1 and September 30, 2014.
Changes in exit load and dividends declared
UTI Mutual Fund declared bonus under three of its schemes - UTI-Children's Career Balanced Plan, UTI Unit Linked Insurance Plan and UTI Retirement Benefit Pension Fund in the ratio of 1 unit for every 10 units held. The record date is set as September 1, 2014.
Birla Sun Life Mutual Fund declared dividend under Birla Sun Life Special Situations Fund. The quantum of dividend is Rs 1.30 per unit with the record date set as August 28, 2014.
SBI Mutual Fund will stop charging exit load under SBI Magnum Multicap Fund from September 1, 2014. Currently it charges 1% for redemption within 1 year of allotment.
IDBI Mutual Fund will stop charging exit load under IDBI Short Term Bond Fund, IDBI Nifty Index Fund and IDBI Nifty Junior Index Fund from September 1, 2014.