MF industry assets grow 3 pct in April.
The mutual fund industry witnessed nearly 3 per cent growth in its assets under management over April, with the country~s second largest fund house HDFC MF adding over Rs 5,900 crore to it. The industry~s average assets under management AUM) rose by Rs 20,836 crore or 2.71 per cent during April. The combined average AUM of the 37 fund houses stood at Rs 7,68,361 crore. Country~s top three fund houses -- Reliance MF, HDFC MF and ICICI Pru -- together saw their assets surge by Rs 9,376 crore, with HDFC MF alone accounting for Rs 5,923 crore. Over April, the largest fund house Reliance MF saw an addition of Rs 1,407 crore to its average assets to Rs 1.12 lakh crore, as per data released by the Association of Mutual Funds in India (AMFI).

Attached is the latest Mutual Fund NFO List.

GENERAL
1.DSP BlackRock Mutual Fund converts DSP BlackRock Micro Fund into open ended fund.

DSP BlackRock Mutual Fund has announced that DSP BlackRock Fund, which is currently a close ended scheme, will be converted into an open ended scheme. The change will be effective from 15th June, 2010. The scheme will offer regular and institutional plan with growth option. The scheme will charge 0.25 per cent exit load, if units are redeemed within 7 days from the date of allotment. Investors, who do not agree to the revision, have an option to redeem or switch their units on or before 14th June, 2010 without paying any exit load.
News Source - MUTUALFUND INDIA.
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Mutual Fund News for Today (June 17th 2010) -- Evening Edition
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DIVIDEND


1.Tata Mutual Fund announces dividend under its scheme Tata Equity Opportunities Fund.


Tata Mutual Fund has declared dividend under its scheme Tata Equity Opportunities Fund. The quantum of dividend decided for distribution on the face value of Rs. 10 per unit. The record date decided for declaration of dividend is 22nd June, 2010.


News Source - MUTUALFUND INDIA.
GENERAL


2.Kotak MF revises exit load structure for Quarterly Interval Plan.


Kotak Mutual Fund has announced the revision of exit load structure for Kotak Quarterly Interval Plan Series 1. The changes will be effective from Jun.17, 2010.

Latest Dividends June 2010 - MFs (Mutual Funds)



LATEST DIVIDEND LIST

AMC Scheme Name Rate of Dividend Record Date Nav as on June 24,2010 (Per unit)
UTI Banking Sector Fund 10% 24/06/2010 Rs.22.86
PRINCIPAL Large Cap Fund 15% 24/06/2010 Rs.20.19
BIRLA Infrastructure Fund-A 7.30% 25/06/2010 Rs.13.19
BIRLA Dividend Yield PlusFund 7.10% 25/06/2010 Rs.14.78
ICICI Growth  Fund 10% 28/06/2010 Rs.18.96
ICICI Discovery Fund 10% 28/06/2010 Rs.20.83

DIVIDEND News


1.Sahara Mutual Fund announces dividend under Sahara Power & Natural Resources Fund.


Sahara Mutual Fund has declared dividend under its scheme, Sahara Power & Natural Resources Fund (open ended equity fund). The quantum of dividend decided for distribution is Rs. 2.00 per unit on the face value of Rs. 10. The record date for declaration of dividend is 30th July, 2010.
Record date July 30, 2010

Kotak Contra Fund - Rs 1.50 on Face Value of Rs 10 per unit
NAV of Rs 19.246 (Dividend Option) as on July 23, 2010.

MFs resist SEBI idea of same charges for small, big investors.


Mutual fund houses are strongly resisting a proposal from market regulator SEBI for treating small investors at par with large institutional ones in terms of various charges, such as exit-loads, with the argument that retail investors are costlier to service. The Securities and Exchange Board of India, in its latest communication to about three-dozen fund houses operating in the country, has suggested that they charge equal exit-loads, which are the fees that investors are asked to pay when redeeming their mutual fund investments, from both retail and institutional investors.

News Source - ECONOMIC TIMES.