Top mutual fund news of the day- September 7, 2015

Reliance Mutual Fund has launched a new fund called Reliance Fixed Horizon Fund XXIX- Series 6.

Reliance Mutual Fund has launched a new fund called Reliance Fixed Horizon Fund XXIX- Series 6, a close-ended income scheme with the duration of 1112 days from the date of allotment.

Birla Sun Life MF has set September 10 as record date for declaration of dividend on the face value of Rs. 10 per unit under the direct plan dividend option of Birla Sun Life Fixed Term Plan, Series HW.

ICICI Prudential MF has announced September 10 as the record date for declaration of dividend under the dividend option of ICICI Prudential Interval Fund - Quarterly Interval Plan I.

Axis MF has announced September 10 as the record date for declaration of dividend under the dividend option and direct plan - dividend option of Axis Midcap Fund.

Sahara Mutual Fund, which has been ordered by the Securities and Exchange Board of India (Sebi) to transfer its asset management business to a new fund house by December, is unlikely to find a buyer as fears of litigation and regulatory issues keep fund houses away.

Investors from smaller towns may have to pay less for investing in mutual fund products as industry body Amfi is looking to reduce expense ratio by 30 basis points by October 2016.

IIFL Mutual Fund has filed offer document with SEBI to launch a close ended income scheme as IIFL Fixed Maturity Plan-Series 11 & 12. The New Fund Offer price is Rs 10 per unit. Entry load and exit load will be Nil for the scheme.