Recent Updates in the Mutual Fund Industry

In the dynamic world of mutual funds, there have bee­n some interesting updates that reveal the changing approaches and products of various investment firms. The shifts in the mutual fund landscape highlight the ongoing efforts by different fund houses to offer more diverse and tailored investment options to their clients. Let’s take a closer look at the latest happenings:

1. Motilal Oswal Mutual Fund Introduces Five New Funds (17th April 2024):

Motilal Oswal Mutual Fund has filed paperwork with SEBI for five new mutual fund schemes, showcasing a diverse range of investment opportunities. These include four index funds and one actively managed quantitative fund.

Index Funds: The new index funds aim to track specific Nifty MidSmall indices, offering exposure to the mid and small-cap segment across different sectors. They are named as follows:

• Motilal Oswal Nifty MidSmall Financial Services Index Fund
• Motilal Oswal Nifty MidSmall Healthcare Index Fund
• Motilal Oswal Nifty MidSmall IT and Telecom Index Fund
• Motilal Oswal Nifty MidSmall India Consumption Index Fund

Actively Managed Fund: The Motilal Oswal Quant Fund utilizes a quantitative investment strategy to select stocks, aiming for medium to long-term capital appreciation by investing in equity and equity-related instruments. The fund’s performance will be benchmarked against the NIFTY 500 Index TRI.

Investors have the flexibility to choose between regular and direct plans, with growth options available in both. The minimum investment amount is set at Rs 500, with multiples of Re 1 thereafter. Further details regarding weightage allocation and specific investment strategies for the index funds will be disclosed in the final offer documents.

2. Aditya Birla Sun Life MF Announces Income Distribution cum Capital Withdrawal (IDCW) (17th April 2024):

Aditya Birla Sun Life Mutual Fund has announced 19th April 2024 as the record date for Income Distribution cum Capital Withdrawal (IDCW) under several schemes. The amount of IDCW per unit varies across schemes and plans:

Aditya Birla Sun Life Arbitrage Fund:

• Regular Plan: IDCW Option – Rs 0.065
• Direct Plan: IDCW Option – Rs 0.067

Aditya Birla Sun Life Balanced Advantage Fund:

• Regular Plan: IDCW Option – Rs 0.146
• Direct Plan: IDCW Option – Rs 0.164

Aditya Birla Sun Life International Equity Fund:

• Regular Plan: IDCW Option – Rs 1.175

3. TATA MF Announces Fund Manager Change (16th April 2024):

TATA Mutual Fund has announced a change in fund manager for its scheme effective from 15th April 2024. Tata Mutual Fund has stated that its Tata Hybrid Equity Fund, which was formerly managed by Chandraprakash Padiyar, Murthy Nagarajan, and Satish Chandra Mishra, would now be managed by Murthy Nagarajan and Satish Chandra Mishra.

4. PGIM India Mutual Fund Declares Monthly Income Distribution cum Capital Withdrawal (IDCW) (16th April 2024):

PGIM India Mutual Fund has announced 19th April 2024 as the record date for monthly Income Distribution cum Capital Withdrawal (IDCW) under various schemes. The IDCW amount per unit for different schemes and plans is as follows:

PGIM India Arbitrage Fund:

• Regular Plan: Monthly IDCW Option – Rs 0.0437
• Direct Plan: Monthly IDCW Option – Rs 0.0441

PGIM India Hybrid Equity Fund:

• Regular Plan: Monthly IDCW Option – Rs 0.1751
• Direct Plan: Monthly IDCW Option – Rs 0.1915

PGIM India Equity Savings Fund:

• Regular Plan: Monthly IDCW Option – Rs 0.0726
• Direct Plan: Monthly IDCW Option – Rs 0.0789

The fund houses constantly innovating to meet the evolving needs of investors.

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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.