The domestic fund market saw a substantial dip of 93 per cent in net inflows in the various schemes in February, compared with the earlier month. Courtesy, flow of redeemed money of the December quarter in January and profit booking in the equity segment of the later part of February, before the Union Budget. The net inflows dipped to Rs 6,365 crore in February against Rs 97,242 crore in the previous month, according to the Association of Mutual Funds in India. At the same time, sales of mutual fund products also dipped to Rs 7.5 lakh crore from Rs 8.8 lakh crore during the period, a dip of over 14 per cent.

This scheme is a Close Ended Income scheme. The new fund offer starts from 8th March 2010 to 15th March 2010.

Birla Mutual Fund has declared dividend under its scheme, Birla Sun Life Tax Relief 96 (open ended equity ELSS scheme). The quantum of dividend decided for distribution is 70 per cent that is Rs 7 per unit on the face value of Rs. 10 per unit. The record date decided for distribution of dividend is 12th March, 2010.

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan - Series 51 - 14 Months Plan D, a close ended debt scheme. The tenure of 14 Months Plan D is 431 days. The new issue is open for subscription from 9 March and closes on 11 March 2010.