Mutual Funds

Fund update

| Updated on January 24, 2011 Published on January 24, 2011

Motilal Oswal Asset Management Company has launched an open-ended index exchange traded fund, Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares M100). This new fund offer, which opened for subscription on January 12, will close of January 24. The fund will track the CNX Midcap Index and will be listed on the NSE. The minimum investment amount for the NFO will be Rs 10,000 and in multiples of Re 1, thereafter.

BNP Paribas Mutual Fund has approved the renaming of the scheme BNP Paribas Future Leaders Fund to BNP Paribas Mid Cap Fund. The revised name will be effective from January 24. BNP Paribas Future Leaders Fund, an open-ended equity scheme, invests primarily in companies with high-growth opportunities in the middle and small capitalisation segment.

HDFC Mutual Fund has announced that with effect from January 24, if dividend amount payable to the unit holders under dividend option of its pure equity schemes as well as that of HDFC Arbitrage Retail, HDFC Balanced and HDFC Prudence Fund is equal to or less than the threshold limit of Rs 500, then such dividend amount will be automatically re-invested in the respective schemes by issuing additional units of the scheme.

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