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Fresh offerings from mutual funds

Nov 12, 1999

Kothari Pioneer Mutual Fund (MF) and Dundee MF have outlined plan to launch new schemes in the future. While the former will launch a balanced fund in the next week (15th November), the latter will launch several sector-specific schemes over the next two years. This was reported by a leading financial daily. Kothari Pioneer's balanced fund will be open for subscription from November 15 to December 10. It will be open for repurchase on an ongoing basis from January 17, 2000. A load of 2% will be charged on the net asset value. With the launch of the balanced fund, the only product missing in the Kothari Pioneer MF basket of schemes is the gilt scheme, which it plans to launch in future.

Under normal conditions, the scheme will be investing around 60% of its corpus in equity/equity-related instruments and the remaining in debt. It could veer towards a 70:30 mix depending on market conditions.

Balanced funds attempts to maintain a balance between interest income and capital appreciation. It is ideal for investors who prefer the safety of fixed income securities, but at the same time don't want to lose out on the rising fortunes of equities.

Dundee MF (Canada) plans to increase exposure in India by launching a slew of gilt funds over the next two years. The MF manages assets worth Rs 435 bn (US$ 10 bn) worldwide.

These launches will broaden the investment avenues for the MF investor. The investor will have an increasing range of investment options at his disposal. With the advent of several insurance majors (AIG), and foreign banks (HSBC, BankAm) in the Indian MF segment, the going can only get better for the investors.

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