Taurus Mutual Fund has filed an offer document with SEBI to launch Taurus Sector Rotation Fund, an open ended equity growth scheme. The primary investment objective of the scheme is to generate long term capital growth from a portfolio of predominantly equity and equity related instruments including equity derivatives. The scheme would normally be investing in a minimum of 4 and maximum of 6 high conviction sectors only. The Scheme may hold a limited number of additional sectors at times such as when the Fund Manager is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions. The Scheme may also invest in debt and money market securities, for defensive considerations and/ or for managing liquidity requirements.

ICICI Prudential Fund has declared that ICICI Prudential Fusion Fund Series II which is a close ended scheme will be converted to an open ended scheme. The change will be effective from 31st March, 2010. Investors who do not agree with the conversion may redeem or switch their units on or before 30th March, 2010 without paying any exit load. After the conversion into open ended, the scheme will not charge any exit load. The scheme is benchmarked against S&P Nifty and is managed by Mr. Sanjay Parekh.