Edelweiss Mutual Fund has filed an offer document with SEBI to launch Edelweiss Super Select Equity Fund, an open ended equity scheme. The primary investment objective of the scheme is to generate long term capital appreciation from a relatively concentrated portfolio of predominantly equity and equity related securities including derivatives. The Scheme may also invest in debt and money market instruments for managing liquidity or when the fund manager has a defensive view on the market.

ICRA Online (ICRON), a subsidiary of rating firm ICRA, and Belgium-based Society for Worldwide Interbank Financial Telecommunication (SWIFT), on Wednesday entered into an agreement for setting up a payment gateway for transactions in mutual funds. The ICRON-SWIFT gateway will help reduce the time span for mutual fund transactions to one day as against the existing three days. This would be operational by early 2011. The platform would enable both institutions and retail investors to make payments against purchase of mutual fund units without writing cheques. PK Choudhury, vice-chairman and group CEO, ICRA, said, "The platform will effectively make use of secured mobile messaging system or the email messaging facility for fund transfer advices."

Bharti AXA Mutual Fund has approved Mar.29, 2010 as the record date for declaration of dividend under quarterly dividend option in eco plan and regular plan of Bharti AXA Equity Fund (open ended equity growth). The quantum of dividend under both the plans will be 10% i.e. Rs 1 per unit as on the record date.

Prospective mutual fund and ULIP investors can now use the standard messaging service or SMS to make payments, rather than issuing cheques, while buying units. Icra Online has entered into a strategic tie-up with an international agency for setting up a new payments gateway in India. Credit rating agency Icra's tie-up with SWIFT, or Society for Worldwide Interbank Financial Tele-communication, is aimed at bringing down the turnaround time between making payment and receiving units in hand.