Top mutual fund news of the day- July 23, 2015

Mutual fund (MF) distributors are concerned at the Securities and Exchange Board of India's hinting at an advisory-based model for them.

Mutual fund (MF) distributors are concerned at the Securities and Exchange Board of India's hinting at an advisory-based model for them.They say it is premature to expect Indian investors to pay for financial advisories. MFs continue to be a 'push' product, not a 'pull' one.

Investment in Indian equity mutual funds by domestic retail investors has hit the highest since 2008, signaling the return of individual players drawn to a stock market that is outperforming physical assets such as gold and real estate. 

Even after the signing of a treaty between the governments of India and America to comply with the latter's Foreign Account Tax Compliance Act (Fatca), mutual funds (MFs) continue to remain wary of accepting investments from their or from Canada. 

Mutual funds bought shares worth a net Rs 122.50 crore yesterday, 21 July 2015, compared with net outflow of Rs 208.80 crore during the preceding trading session on Monday, 20 July 2015.

Edelweiss Mutual Fund has announced 27 July 2015 as the record date for declaration of dividend under Edelweiss Absolute Return Fund and Edelweiss Short Term Income Fund. The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be:
Edelweiss Absolute Return Fund-dividend option: Rs 0.22
Edelweiss Absolute Return Fund-direct plan-dividend option: Rs 0.22
Edelweiss Short Term Income Fund-dividend option: Rs 0.20 

Edelweiss Mutual Fund has announced that in addition to the existing facility of purchase and redemption of units of the eligible schemes/plans of the fund on stock exchange infrastructure viz. BSE StAR MF platform, the facility for switching of units among the eligible schemes/plans, except Edelweiss ELSS Fund is also being made available to the investors with effect from 22 July 2015.

Kotak Mutual Fund has announced 27 July 2015 as the record date for declaration of dividend under the bimonthly dividend option of Kotak Equity Arbitrage Fund, an open ended equity growth scheme. The amount of dividend on the face value of Rs 10 per unit will be:
Kotak Equity Arbitrage Fund - Regular Plan-Bimonthly Dividend Option: Re 0.2318 per unit.
Kotak Equity Arbitrage Fund - Direct Plan - Bimonthly Dividend Option: Re 0.2514 per unit.