NFO Nest - Jan 2008

NFO Nest

Infrastructure and global funds stole the limelight in 2007, with a total collection of Rs.27,500 a tad lesser than Rs. 28,970 cr in 2006. 2008 has started with a slew of tax saving mutual fund schemes (with the financial year-end approaching) but infrastructure funds still seem to be ruling the roost.

The following funds find their place in the NFO nest in January, 2008.

Reliance Natural Resources Fund Opens: 1 Jan , 2008 Closes: 30 Jan, 2008

This open-ended equity fund will invest at least 65% of its corpus in shares of companies engaged in discovery, development, production or distribution of natural resources in the domestic market. It also has provision to invest up to 35% in foreign securities, especially those listed on the London Stock Exchange, New York Stock Exchange, Toronto Stock Exchange and Australian Stock Exchange. A custom benchmark has been created using the BSE-200 to the extent of 65% of portfolio and MSCI World Energy Index for balance 35% of portfolio.

AIG Infra and Economic Reform Fund Opens:10 Jan ,2008 Closes:31 Jan, 2008

AIG Infrastructure and Economic Reforms Fund is an open-ended equity fund that aims to generate long-term capital appreciation from a diversified portfolio with at least 65 per cent in equity and equity-related securities of companies involved in economic development of India as a result of potential investments in infrastructure and unfolding economic reforms. AIG Infrastructure’s key distinguishing feature may be its plan to identify companies that have ‘multi-year opportunities’ that would outlast the primary infrastructure development. These companies may participate in infrastructure building but later branch out to complementary areas once the primary infrastructure needs are met.

The ICICI Prudential Fixed Maturity Plan Opens:8 Jan ,2008 Closes:8 Feb,2008

The ICICI Prudential Fixed Maturity Plan is the country’s first ever equity linked fixed maturity plan. The fund is a close-ended debt fund providing an opportunity to gain from equity market linked returns.

ICICI Prudential Fusion Fund Series-III Opens:8 Jan ,2008 Closes:21 Feb,2008

ICICI Prudential Fusion Fund is a three-year close-ended diversified equity fund designed to invest in companies across market capitalisations and having long-term growth prospects through a fusion of investment approaches. Approaches such as pre-IPO investment, companies participating in secular growth opportunities due to the growth in demand, taking stakes in select small companies to facilitate their market re-rating and early identification of companies that are set to transition into a new growth orbit. This fund will be investing up to 80 per cent in equity-linked debentures. The balance will be invested in debt securities with fixed and floating interest rates. This product is specially targeted towards investors who are risk averse and do not invest in equity markets due to fear of losing their money.

JM Core 11 Fund - Series II Opens :14 Jan ,2008 Closes:15 Feb, 2008

JM Core 11 Fund - Series II is a three-year close-ended scheme and will have a concentrated portfolio with not more than 11 stocks in the portfolio with each stock being invested to the extent of 9.09 percent of the NAV (net asset value) of the scheme.The fund would invest at least 65 percent of the assets in equities and the rest in debt and money market instruments.

Lotus India Mid N Small Cap Fund Opens :7Jan ,2008 Closes:19 Feb, 2008

Lotus India Mid N Small Cap Fund is a three year close-ended equity scheme. Exposure in mid-cap companies will be in the range of 65-100 per cent while in the case of small cap companies it would be 5-40 per cent. The market capitalisation of mid-cap companies would fall within the range of highest and lowest market cap in the CNX Midcap Index. For small-cap companies the range would be the within the highest and lowest market cap of BSE Small Cap Index.

HDFC Infrastructure Fund Opens :8 Jan ,2008 Closes:21 Feb, 2008

HDFC Infrastructure Fund is a three year close-ended equity scheme with automatic conversion into an open-ended scheme upon maturity. The scheme aims to invest in sectors like airports, banking and financial services, cement and cement products, construction and related industries, electrical and electronic components, energy, oil & gas and allied industries, petroleum and related industries, ports, power and power equipment, telecom, industrial capital goods, etc.

Reliance Equity Linked Saving Fund Opens:18 Dec,2007 Closes:17 Mar, 2008

Reliance Equity Linked Saving Fund is a 10 year close-ended Equity Linked Savings Scheme. The performance of the scheme will be measured against BSE 100.

JM Tax Gain Fund Opens:24 Dec , 2007 Closes:25 Mar, 2008

JM Tax Gain Fund aims at generating long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities and to enable investors a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time. The fund will invest 80%-100% in equity and equity related instruments with medium to high-risk profile and 0%-20% in money market instruments / debt instruments such as bonds and debentures.

ABN AMRO Sector Select Fund, AIG World Gold Fund, Escorts Power Fund, SBI Nation Builder Fund, Optimix Global Commodities Fund, ICICI Prudential Long Short Fund, Benchmark Structured Fund Series I & II and Benchmark S & P CNX 500 Fund are expected to be launched in the coming months.