Edelweiss Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of Edelweiss Quarterly Interval Fund - Series 1 (interval income scheme). The record date for dividend has been fixed as 10 March 2010. The quantum of dividend will be 100% of distributable surplus as on the record date.

After flagging equity sales and shrinking margins, mutual fund distributors are facing another challenge - maintaining know-your-customer (KYC) documents with Registrar and Transfer Agents (RTAs). The Securities and Exchange Board of India's (Sebi's) deadline for this is April 1. Sebi had said on December 11 that all documents related to an investor, including KYC and power of attorney details in respect of transactions/requests made through MF distributors, should be available with RTAs and asset management companies. It had asked fund houses to confirm if they were maintaining all investor-related documents.

Birla Mutual Fund has revised the exit load structure under Birla Sun Life Floating Rate Fund - Short Term Plan. After the revision scheme will not charge any exit load. The change has been effective from 05th March, 2010. Currently scheme charges an exit load of 0.50 per cent if units are redeemed within 90 days form the date of allotment. Birla Sun Life Floating Rate Fund-Short Term Plan is an open ended income scheme with investment objective is to generate regular income through investment in a portfolio comprising substantially of floating rate debt and money market instruments. The scheme is managed by Mr. Prasad Dhonde and Ms. Sunaina Da Cunha and is benchmarked against CRISIL Liquid Fund Index.

JM Mutual Fund has announced that there is no dividend reinvestment sub-option in JM Fixed Maturity Fund - Series XVIII. The scheme has only two options i.e. Growth and Dividend option. All references to dividend reinvestment option appearing in any documents pertaining to the NFO of JM Fixed Maturity Fund - Series XVIII including the SID, KIM and Application form stand deleted.

UTI Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of UTI Fixed Income Interval Fund - Series II - Quarterly Interval Plan VI. The record date for dividend has been fixed as 9 March 2010. The quantum of dividend will be 100% of distributable surplus as on the record date.

This scheme is a Close Ended Income scheme. The new fund offer starts from 4th March 2010 to 9th March 2010.

Motilal Oswal Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch MOSt Shares M50 - Motilal Oswal ETF, an open ended Index Exchange Traded Fund. The investment objective of the scheme is to seek investment return that corresponds (before fees and expenses) generally to the performance of the MOSt 50 Index (Underlying Index), subject to tracking error.

L & T Mutual Fund has decided to introduce Daily Investment Plan (DIP), under which investor has facility to transfer a fixed amount from liquid scheme to open ended equity scheme on a daily basis. This facility will be available for the investors with effect from 05th March, 2010. DIP facility is available under the schemes- L&T Opportunities Fund, L&T Growth Fund, L&T Midcap Fund, L&T Multi-Cap Fund, L&T Hedged Equity Fund, L&T Contra Fund, L&T Global Advantage Fund. Under this plan, minimum investment amount in L&T Liquid Fund - Regular Plan - Cumulative Option will be Rs. 10000 and minimum transfer amount in open ended equity scheme will be Rs.50. DIP facility will be available only on mutual fund business day.

The Average Assets Under Management (AAUM) of Mutual Fund Industry has grown 2.64% for February 2010, after facing 4.14% fall in January 2010. According to the data provided by the Association of Mutual Funds in India (AMFI), the AAUM of 38 fund houses stood at Rs 7.82 lakh crore in February compared with Rs 7.62 lakh crore (for 37 fund houses) in January 10. AAUM for February has grown by Rs 20085.98 crore compared with a fall of Rs 32860.51 crore in January. The industry has been back on the growth path, after witnessing fall in AAUM for two consecutive months.

IDFC Mutual Fund has launched a new fund named as IDFC Fixed Maturity Plan - Fourteen Months Series 1, a close ended income scheme. The scheme shall mature on 16 May 2011. The new issue is open for subscription from 3 March and closes on 10 March 2010.

SBI Mutual Fund has announced a dividend of 40% in SBI Magnum Taxgain Scheme 1993 (open-ended equity linked savings scheme). The record date for dividend is March 5, 2010.

The average assets under management, or AAUM, of the Indian Mutual Fund (MF) industry - declared so far - grew around 3% month-on-month in February 2010 on the back of short-term institutional fund flows. The 31 fund houses which have declared their AAUM numbers so far have reported gross AAUM of close to Rs 5,75,233 crore against Rs 5,56,858 crore in January 2010.

Kotak Mutual Fund has declared that Kotak Emerging Equity Scheme which is a close ended scheme will be converted to an open ended scheme. The change will be effective from 31st March 2010. Investor who does not agree with the conversion may redeem or switch their units between the periods of 1st March, 2010 to 30th March, 2010 without paying any exit load. After the conversion in open ended the scheme will charge 1 per cent exit load if units are redeemed within 1 year and it is applicable on 31st March, 2010. The scheme will be benchmarked against BSE Mid Cap and will be managed by Mr. Anurag Jain and Mr. Emmanuel Elango.

Principal Mutual Fund has launched a new fund named as Principal Pnb Fixed Maturity Plan 540 Days - Series IV, a close ended debt scheme offering Fixed Maturity Plan. The new issue is open for subscription from 2 March and closes on 8 March 2010.

Sundaram BNP Paribas Mutual Fund has approved Mar. 05, 2010 as the record date for declaration of dividend under dividend option of Sundaram BNP Paribas - Select Thematic Funds - CAPEX Opportunities Fund (open ended equity scheme). It has announced dividend of 25% (Rs 2.50 per unit on the face value of Rs 10) as on the record date.

Kotak Mutual Fund has launched a new fund named as Kotak FMP 13M Series 6, a close ended debt scheme. The new issue is open for subscription from 2 March and closes on 8 March 2010.