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Canara Robeco Mutual Fund has introduced a facility by which investors can set a target return under the Canara Robeco Gilt PGS Fund. Once the target value is achieved, you can opt to transfer the returns to an open-ended fund of your choice. The principal investment will remain in the Gilt PGS Fund even as the returns will be invested in a fund of your choice.
Stay put
Birla Sun Life Mutual Fund has amended the load structure for select schemes, discouraging pre-mature pullout of money by investors. If you wish to redeem investment in Birla Sun Life International Equity Fund Plan A within 365 days from the date of investment, you will have to forego 1 per cent of the proceeds. Earlier, there was no exit load for early withdrawal from this scheme.
Similarly, forego 1 per cent of the total investment when you redeem units of Birla Sun Life Index Fund and Birla Sun Life Advantage Fund within 90 days. Earlier, 0.5 per cent of the total investment was deductible only for redemption within seven days.
Withdrawal from Birla Sun Life India Opportunities within seven days of subscription only was chargeable at 0.5 per cent of the total investment proceeds until recently.
But from June 2, 2014, investors will have to stay put for at least 365 days, else pay an exit load of 1 per cent. Pulling out investment in Birla Sun Life Value Fund will cost you more now. Should you redeem within a year, you will lose 2 per cent of your proceeds as against the erstwhile penal charge of 1 per cent.
Now open
IDFC Mutual Fund’s flagship scheme IDFC Premier Equity is now open for lumpsum investment. Even as the scheme, with assets of about ₹3,990 crore, accepts investment under the SIP window, it opens for lumpsum investment only for brief periods.
IDFC Premier Equity has been one of the consistent performers in the mid-cap category and has sustained top-to-mid-quartile performance across time periods. Managed by Kenneth Andrade, the fund’s returns are 9-11 percentage points higher than its benchmark — the BSE 500 Index — across one-, three- and five-year time frames.
In case you wish to invest in the fund in one shot you can do so over the next three months.
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