What is a mutual fund?
A mutual fund is a form of collective investment that pools money from many investors and invests their money in stocks, bonds, short-term money market instruments, and/or other securities.In a mutual fund, the fund manager trades the fund’s underlying securities, realizing capital gains or losses, and collects the dividend or interest income.
The Asset Management part of the ABN AMRO group are transferred to the Fortis group as a part of an indirect change in the control of the ABN AMRO Asset Management India Pvt Ltd. The SEBI has given its no-objection for the same amd jemce the name change from ‘ABN AMRO’ to ‘Fortis’.
A window period from October 10, 2008 to November 9, 2008 without any exit load is available (except for the ABN AMRO Tax Advantage Plan).
Religare Aegon Mutual Fund has filed offer document with Securities and Exchange Board of India (Sebi) to launch Liquid Fund. It is an open-ended liquid scheme. The face value of the new issue will be Rs 10 per unit. The scheme seeks to provide optimal returns and liquidity through a portfolio comprising of debt securities and money market instruments.
UTI Mutual Fund is all set to open around 200 branches across the country by March, next fiscal.
The company aims to further expand its distribution network from 97 UTI Financial centers to 200 centers covering around 422 districts.
According to the company, it will open new UTI Financial Centre in Anantnag, Baramulla, Doda, Jammu, Kathua, Kupwara, Kargil, Ladakh, Poonch, Pulwama, Rajouri, Srinagar and Udhampur, to focus on service sector in Jammu and Kashmir.
The latest move is in line with company’s strategy of making its products and services easily accessible to its clients.
UTI Mutual Fund is a SEBI registered mutual fund whose sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund has assets under management of Rs 46,947.32 crore under its 95 domestic plans as of August 31, 2008.
UTI Mutual Fund today said it will continue selling Unit Linked Insurance Product (ULIP) to its customers even though there is no clarity on the issue of fund houses selling such products. “We have been selling the ULIP plan to the customers of the Balance Fund since 1971 and would continue to do so,” said UTI Mutual Fund Chief Marketing Officer Jaideep Bhattacharya.
UTI sells ULIP plan of Life Insurance Corporation which happens to be one of the sponsors of the fund house.
The product has been sold to about 5 lakh customers and has asset size of about Rs 3,100 crore, he said.
It is one of the low cost product available in the market, he said, adding the cost is as low as 3 per cent as compared to up to 62 per cent in the market.
While there may be several occasions to redeem your mutual fund investment, here are the five most pervasive reasons.
A mutual fund investment is made with the intent of achieving a specific investment objective. Some of these investment objectives include, among others, planning for child’s education, planning for retirement, saving for a house/car.
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