Recent Updates in the Mutual Fund Industry

The mutual fund industry has witnessed several key announcements recently, ranging from IDCW (Income Distribution cum Capital Withdrawal) declarations to new fund launches and leadership changes. Here is a comprehensive summary of the latest updates.

New Fund Launch

SBI Quant Fund

SBI Mutual Fund has submitted draft documents to SEBI for launching the SBI Quant Fund. This open-ended equity scheme is designed for long-term capital appreciation using a quantitative model-based investment strategy.

Key Features:

• Minimum Investment: Rs 5,000 (and in multiples of Rs 1 thereafter)
• Benchmark: Nifty 200 TRI (Total Return Index)
• Management Team: Led by Sukanya Ghosh and Pradeep Kesavan

Investment Strategy:

• 80-100% in equity and equity-related instruments selected by the quantitative model
• Up to 20% in other equity-related instruments
• Up to 20% in debt and money market instruments
• Up to 10% in REITs and InvITs

Risk Profile: Very high risk, suitable for investors seeking long-term capital growth through a quantitative model-driven approach.

Leadership Change

PPFAS Mutual Fund

PPFAS Mutual Fund has announced that Mr. Shashi Kataria has resigned from his roles as CFO and Whole Time Director at PPFAS Asset Management Private Limited and PPFAS Trustee Company Private Limited, effective 31 May 2024.

IDCW Announcements

DSP Mutual Fund

DSP Mutual Fund has declared 28 May 2024 as the record date for IDCW under the following schemes:

HSBC Mutual Fund

HSBC Mutual Fund has set 27 May 2024 as the record date for IDCW under the following schemes:

Baroda BNP Paribas Mutual Fund

Baroda BNP Paribas Mutual Fund has announced 27 May 2024 as the record date for IDCW under the following schemes:

ICICI Prudential Mutual Fund

ICICI Prudential Mutual Fund has declared 27 May 2024 as the record date for IDCW under the following schemes:

HDFC Mutual Fund

HDFC Mutual Fund has set 27 May 2024 as the record date for IDCW under the following scheme:

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.