Power of Investment: Wipro (via Manual Web Crawler)

Amazing power of compounding growth in long term investment.

Frankly here, you need to think of your future, your children’s future, long term economic growth to stay invested in long term.

and yeah it requires immense patience and luck to have such a stock

After reading a related email I was just going through the stock of Wipro and got unbelievable impressive figure for long term investment. Wipro was founded in 1941 with 17000 equity shared and incorporated in 1945. As the base price per share price used to be Rs 100 at that time so considering the premium of Rs 80 the share price must be Rs 180 approximately. Also there used to be norm for minimum subscription of 100 units at a time so you need … Read More

via Manual Web Crawler

ICICI Prudential Gold Exchange Traded Fund

ICICI Prudential Mutual Fund came up with an open ended gold exchange fund which launched on 30^th Jun 2010 and will close on 29^th Jul 2010.

New Fund Offer specifications are as follows:

ICICI Prudential Mutual Fund
Scheme	Name	ICICI Prudential Gold Exchange Traded Fund
	Objective	ICICI Prudential Gold Exchange Traded Fund seeks to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the LBMA AM fixing prices.
	Type	Open Ended
	Category	GOLD ETFs
	Manager	Mr Chaitanya Pande
Date	Launch	30th Jun 2010
	Closure	29th Jul 2010
	Re-Opens	Within 30 days of closure
Load Structure	Entry Load	N.A.
	Exit Load	There will be no exit load on units bought or sold through the NSE and BSE.
Offer Price (INR/Rs.)	100
Minimum Subscription Amount	Rs. 5,000/-
Benchmark	LBMA AM fixing price
Type of Asset / Instruments	Gold bullion and instruments with Gold as underlying that may be specified by SEBI	95 to 100 % (Medium Risk)
	Debt & Money Market Instruments (including cash & cash equivalent)*	0 to 5 % (Low Risk)
Further Details	http://www.icicipruamc.com/

Document Details:

Offer/Scheme information document	Access Here
Application form	-
Statement of Additional Information (SAI)	-

It is highly recommended to thoroughly go through the offer document before making any investment.

MF News Buzz Update for 23 Jul

Latest news buzz update for mutual fund industries in India.

• Kotak Mutual Fund has launched a new fund named as Kotak FMP 370 Days Series 6, a close ended debt scheme. The duration of the scheme is 370 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 23 July and closes on 26 July 2010. More …
• HDFC Mutual Fund has been given in-principle approval for listing of the units of HDFC Gold Exchange Traded Fund, an open ended exchange traded fund has been received from Bombay Stock Exchange Limited vide its letter dated 14 July 2010. More …
• Reliance Mutual Fund has announced the declaration of dividend under dividend option for its Reliance Interval Fund – Monthly Interval Fund Series II – Retail and Institutional Plan. The record date for dividend has been fixed as 28 July 2010. More …
• The Securities and Exchange Board of India (Sebi) wants trustees and independent directors to become more proactive in the functioning of fund houses and enhance their roles to ensure investor protection. More …

MF News Buzz Update for 21 Jul

Latest news buzz update for mutual fund industries in India.

• Nearly half a dozen fund houses, including foreign institutional investors (FIIs) and mutual funds, have offloaded in South Indian Bank (SIB). More …
• Axis Mutual Fund has announced the introduction of Systematic Withdrawal Plan (SWP) under Axis Equity Fund, Axis Income Saver and Axis Triple Advantage Fund. More …
• Tata Mutual Fund has announced a dividend of 2.00% (Re 2.00/- on the face value of Rs10/- per unit) under the dividend option of Tata Dividend Yield Fund. The record date for dividends has been fixed as July 23, 2010. More …
• Tweaking its earlier stance to enter into mutual fund business, the private sector lender Dhanlaxmi Bank is looking for a financial partner to kick off its mutual fund business in a tripartite way. More …
• Even as their assets under management (AUM) dwindle, equity mutual funds have something to cheer about. A study conducted by iFAST Financial has revealed that Indian diversified equity mutual funds are among the top performers globally in the last one year compared to their counterparts in other advanced markets. More …
• Franklin Templeton Mutual Fund has declared dividend on the face of Rs 10 per unit under dividend option in Retail & Institutional Plan of Templeton Fixed Horizon Fund – Series IV – Plan A. The record date for the dividend has been fixed as 26 July 2010. More …
• HDFC Mutual Fund has unveiled two new fixed term plans named as HDFC FMP 100D July 2010 (1), under HDFC Fixed Maturity Plans – Series XIII and HDFC FMP 370D July 2010 (1), under HDFC Fixed Maturity Plans – Series XV, a close-ended income scheme. The face value of the new issue will be Rs 10 per unit. The new issue of both the schemes will be open for subscription from 22 July and close on the same day. More …

MF News Buzz Update for 19 Jul

Latest news buzz update for mutual fund industries in India.

• UTI Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of UTI Fixed Income Interval Fund – Monthly Interval Plan – I. The record date for dividend has been fixed as 22 July 2010. More …
• Single consolidated statement of mutual fund (MF) holdings will soon become a reality for MF investors. This, in other words, would mean MF investors holding MF units in different fund houses will soon be able to get one single statement. More …
• HDFC Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of HDFC FMP 22m September 2008. The record date for dividend has been fixed as 22 July 2010. More …
• UTI Mutual Fund has announced the conversion UTI India Lifestyle Fund a close ended into open ended equity oriented scheme with effect from July 16, 2010. More …
• Edelweiss Mutual Fund has announced changes in the exit load structure of Edelweiss Diversified Growth Equity Top 100 (E.D.G.E Top 100) Fund, Edelweiss Nifty Enhancer Fund and Edelweiss Absolute Return Equity Fund. More …
• Tata Mutual Fund has approved 23 July 2010 as record date for declaration of dividend on the face value of Rs 10 per unit under dividend option of Tata Dividend Yield Fund. More …
• After losing investors for three consecutive months in a large-scale exodus, mutual funds seem to be gaining investors’ confidence again, as they managed to get over 21,000 new accounts last month i.e. June. More …
• Birla Sun Life Commodity Equities Fund led the mutual fund schemes last week with a growth rate of 3.833 percent. As on July 16, the net asset value (NAV) of the scheme was Rs. 13.67. More …

MF News Buzz Update for 16 Jul

Latest news buzz update for mutual fund industries in India.

• The National Stock Exchange (NSE) recently extended the existing fee waiver on mutual-fund transactions till March 31 next year to encourage more buying and selling of schemes through its platform. But, asset management industry officials and brokers remain skeptical about the potency of such steps to drive this platform, where investors can buy and sell schemes just like shares, as an alternative investment route for mutual fund investments. More …
• UTI Mutual Fund has announced the conversion of its close ended UTI-India Lifestyle Fund into open ended equity oriented scheme. The changes will be effective from 16 July 2010. More …
• The Securities and Exchange Board of India (Sebi) has formed a committee to look into International Financial Reporting Standards (IFRS) compliance of asset management companies (AMCs). Sebi executive director Usha Narayanan is heading the committee, a senior Sebi official said. More …
• After buying out the stakes of its mutual fund joint venture partner BNP Paribas, city-based Sundaram Finance is not in a hurry to tie-up with any other group for its asset management business. More …
• There is some good news for the mutual fund industry. Despite the sharp drop in average assets under management (AAUM), the number of folios – a parameter for gauging the number of investors – has risen. And retail investors seem to be entering the market through the debt fund route. More …

MF News Buzz Update for 15 Jul

Latest news buzz update for mutual fund industries in India.

• ICICI Prudential Mutual Fund has announced the revision of exit load structure for many of its schemes with effect from 16 July 2010. More …
• India’s gold collection under exchange-traded funds rose 76 percent in June from a year ago to 10.453 tonnes as the yellow metal hit its all-time high, data from the funds showed. More …
• Equity folios of mutual funds saw a sharp decline of over 1.47 lakh in June. On a daily basis, almost 5,000 investor folios are getting redeemed from equity funds at the current rate. More …