Fund manager changes
Fidelity Mutual Fund has announced some changes in its fund management responsibilities from February 15, 2012. Mahesh A. Chhabria and Shriram Ramanathan will be responsible for managing Fidelity Cash, Fidelity Ultra Short Term Debt, Fidelity Wealth Builder, Fidelity Fixed Maturity Plan Series V-Plan A, C, E and F and Fidelity Fixed Maturity Plan Series VI-Plan A to Plan F.
Further, Vikram Chopra and Shriram Ramanathan will manage Fidelity Short Term Income, Fidelity Flexi Bond, Fidelity Flexi Gilt, Fidelity India Children's Plan-Education, Marriage Fund and Savings Fund (investments in debt and money market instruments).
Reliance Mutual Fund has appointed Sanjay Parekh as Senior Fund Manager- Equity Investment from February 1, 2012. He has over 17 years of experience in capital market. Earlier he had worked with ICICI Prudential AMC as a Senior Fund Manager.
UTI Mutual Fund has announced change in the fund manager in some of its debt schemes with immediate effect. Accordingly, Amandeep S Chopra will be the new fund manager for the following scheme UTI Bond, UTI Dynamic Bond, UTI Gilt Advantage, UTI Government Securities, UTI Short Term Income and UTI Treasury Advantage.
Change in fundamental attribute
AIG Global Investment Group Mutual Fund has changed the maturity period of Specified Transaction Periods (STP) of AIG Quarterly Interval Series I & Series II from 91st and 92nd days to 95th and 96th days. So, the next STP for Series I will be on May 29, 2012 and May 30, 2012. While for Series II, the STP will be on June 11, 2012 and June 12, 2012.
Exit loads and dividend news
HDFC Mutual Fund had begun charging an exit load of 2% under HDFC Medium Term Opportunities from February 16, 2012, if units are redeemed / switched out within 12 months from the date of allotment. Further, a load of 1% would be charged if redemption / switch is made after 12 months but within 18 months from the date of allotment. Post this, no load will be applicable.
Franklin Templeton Mutual Fund has begun charging an exit load of 1% under FT India Feeder - Franklin US Opportunities from February 14, 2012, if units are redeemed within 1 year from the date of allotment. Earlier, A 2% load was charged if units were redeemed within 1 year from allotment.
HDFC Mutual Fund has declared dividend under the dividend option HDFC Core & Satellite. The quantum of dividend is Rs 2 per unit with February 16, 2012 set as the record date.
