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.

Birla Mutual Fund has declared dividend under its open ended schemes - Birla Sun Life Tax Plan, Birla Sun Life Equity Fund, Birla Sun Life Top 100 Fund and Birla Sun Life 95 Fund. The quantum of dividend decided for distribution are 75 per cent, 50 per cent, 10 per cent and 70 per cent respectively on the face value of Rs. 10 per unit each. The record date decided for distribution of dividend for all the schemes is 12th March, 2010.

This scheme is a Close Ended Income scheme. The new fund offer starts from 10th March 2010 to 18th March 2010.

Bharti AXA Mutual Fund has approved the declaration of dividend in Eco and Regular plan under dividend option (dividend pay-out and re-investment facilities) of Bharti AXA Tax Advantage Fund (open-ended equity linked savings scheme). The record date for the declaration of dividend is 16 March 2010. The quantum of dividend will be 30% (Rs 3 per unit) on the record date.

Benchmark Mutual Fund has declared dividend under its open ended schemes - Benchmark S&P CNX 500 Fund, Benchmark Derivative Fund and Benchmark Equity & Derivatives Opportunities Fund. The quantum of dividend decided for distribution is Rs. 6.75, Rs. 20 and Rs. 0.10 respectively. The record date decided for distribution of dividend for all the schemes is 15th March, 2010.

Quantum Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Quantum Gold Savings Fund, an open ended fund of fund scheme. The investment objective of the scheme is to provide capital appreciation by predominantly investing in units of Quantum Gold Fund - Exchange Traded Fund (QGF).

Religare Mutual Fund has declared dividend under its scheme, Religare Contra Fund (open ended equity diversified scheme). The quantum of dividend decided for distribution is 20 per cent that is Rs 2 per unit on the face value of Rs. 10 per unit. The record date decided for distribution of dividend is 12th March, 2010.

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.

SBI Mutual Fund has announced a dividend of 50% in SBI Magnum Global Fund (open ended equity diversified scheme). The record date for dividend is March 12, 2010.

For nearly six months now, Indian mutual funds have been selling more shares than they have been buying, as they grapple with weak inflows into their schemes. This is in stark contrast to peers like foreign institutional investors (FIIs) and local insurance firms, which have been net buyers during this period. Mutual fund watchers say unless the distribution issues are sorted out and retail investor confidence improves, inflows are unlikely to improve anytime soon.

India's Rs7.6 trillion mutual fund industry, seeking ways to counter a ban on entry loads they charged customers to pay for marketing and distribution costs, is bringing back closed-ended schemes that lock in investments for a predetermined tenure. At least two fund houses have won regulatory approval to launch three tranches of such schemes each in the next couple of months. Birla Sun Life Asset Management Co. Ltd and IDFC Asset Management Co. Ltd are marketing the schemes as investment plans aimed at protecting capital. Franklin Templeton Asset Management (India) Pvt. Ltd, which has been offering such schemes, currently has a similar plan open.

In a closed-ended fund, investments can be made only during the new fund offers (NFOs) and no new investor can apply to buy mutual fund units once the it closes. These funds have a fixed tenure and investors can liquidate their investments only on maturity. Although these schemes are listed, they are illiquid, making withdrawals difficult and expensive. An investor cannot easily withdraw money in an emergency. Also, the investor can't book profits and get out of the scheme even if he or she takes a view that the markets have peaked.

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