Two biggest service providers of the mutual fund industry, Karvy Computershare Pvt. Ltd. and Computer Age Management Services Ltd. (CAMS), have launched FINNET – a web-based platform to help small distributors and individual financial advisors (IFAs) access information and transact in mutual fund schemes. FINNET will aid distributors and IFAs in buying and selling of [...]

UTI Mutual Fund has declared a 15 per cent dividend under two of its schemes – UTI Thematic Transportation and Logistics Fund and UTI Equity Tax Savings Plan (UTI-ETSP). The record date for distribution of tax-free dividend is fixed as Dec. 23, 2009. All unitholders registered under dividend option of these schemes will receive Rs. [...]

Bharti AXA Mutual Fund has announced a 30 per cent dividend under regular and eco plans of its equity scheme Bharti AXA Tax Advantage Fund. The record date for distribution of dividend is December 23, 2009. All unit holders registered under the dividend option of both the plans will get a dividend of Rs. 3 [...]

ICICI Prudential Mutual Fund has declared dividend in two of its equity schemes – ICICI Prudential Discovery Fund and ICICI Prudential Growth Fund. The record date for distribution of dividend is set as Dec. 18, 2009. All policyholders registered under ICICI Prudential Discovery Fund and ICICI Prudential Growth Fund as on the record date will [...]

Country’s leading stock exchanges National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have decided to start equity trading from 9 a.m. from Friday, Dec 18, 2009. Earlier BSE has announced to lengthen the trading time by 10 minutes which prompted its arch rival NSE to announce a timing cut by 55 minutes which attracted [...]

Asia’s oldest and India’s leading stock exchange Bombay Stock Exchange has decided to extend its trading timing ahead by 10 minutes in comparison to its rival NSE in a bid to boost volumes. It would open for trading at 9:45 a.m. instead of 9:55 a.m. from Dec 18, 2009. The closing time will remain the [...]

Reliance Mutual Fund, an arm of Anil Dhirubhai Ambani Group, has announced dividend for three of its mutual fund schemes. The fund house has declared a dividend of 20 per cent, 15 per cent and 15 per cent in Reliance Banking Fund, Reliance Pharma Fund and Reliance Tax Saver Fund (ELSS) respectively. “Our aim has [...]

The Pension Fund Regulatory Development Authority (PFRDA), the pension regulator has said it may broaden the list of assets allowed as eligible equity investments under the New Pension Scheme (NPS) so that when the pension fund grows bigger, the higher flow of money into select stocks does not influence their prices. Currently, the index funds [...]

HDFC Bank, the country’s largest mutual fund distributors, has decided to waive the charges on mutual fund investments done through the Systematic Investment Plans (SIPs), a step which can force other distributors to announce similar structures for investors. For physical applications, where there is no advisory, HDFC Bank will charge Rs 200 per transaction. If [...]

Asia’s oldest stock exchange, Bombay Stock Exchange (BSE), launched an Initial Public Offering (IPO) index, the first of its kind, to track the value of companies for two years from the date of their listing after their IPOs. IPOs of companies having a free-float market capitalisation of Rs 100 crore and above on its first [...]