DBS Chola MF launches hedged equity fund
Mumbai: DBS Chola Mutual Fund has launched an open-ended fund called DBS Chola Hedged Equity Fund which seeks to generate long-term capital appreciation by investing in equity, equity-related and derivative instruments and minimise risk by use of hedging tools such as index and stock derivative instruments. It aims to generate returns with lower volatility.

The new fund offer opens on March 1 and closes on March 23.
The fund will invest 65-100 per cent of its corpus in equities and equity-related instruments and 0-35 per cent in debt and money market instruments. The scheme will offer cumulative and dividend options.

The minimum application amount is Rs5,000. Investors can also participate in the fund through the SIP route.

For investments below Rs 1 crore, an entry load of 2.5 per cent is applicable, while no entry load will be applicable on investments above that amount.
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UTI to introduce Global Navigator Fund
Kolkata: UTI Mutual Fund plans to launch a Global Navigator Fund next fiscal. UTI MF has tied up with State Street Global Advisors of Boston, which would advise it on how to manage the fund, the proceeds of which would be primarily invested in emerging global markets, according to Jaideep Bhattacharya, chief marketing officer of UTI AMC.

Bhattacharya said the Global Navigator Fund would provide Indian investors with an opportunity to invest in emerging and developing economies on the global scale "such as China, Taiwan, Brazil and may be even India".

UTI MF has sought permission from SEBI for the Fund and discussions are under way for road shows that would be held in this regard.
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Thomas Cook proposes stock split
Mumbai: The board of directors of Thomas Cook (India) has proposed to split the company's face value of a share to Rs1 per share from Rs10 per share, the company said in a press release on Monday. The change is subject to the approval of the shareholders through a postal ballot.

If the split goes through, the company's shares will increase to 34.58 crore.
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FIIs net sellers of Rs503 crore on Tuesday
Mumbai: Foreign institutional investors (FIIs) sold equities to the tune of Rs503.38 crore (provisional) today, according to data released by BSE.

While FIIs made gross purchases of Rs1,806.50 crore, gross sales were to the tune of Rs2,309.88 crore.

FIIs were net sellers of Rs582 crore on Monday, February 26, according to data released by Sebi today. While FIIs made gross purchases of Rs2483.10 crore, gross sales totalled Rs3065.10 crore.

Mutual funds (MFs) were net buyers of Rs270.59 crore on Monday. MFs made purchases of Rs821.03 crore and sales of Rs550.44 crore.
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Citigroup cancels plans to invest in ICSA India
Hyderabad: Citigroup Venture Capital International Growth Partnership Mauritius & other Trusts (Citigroup) have cancelled plans to invest $30 million in ICSA India Ltd, the company informed the BSE. This investment was approved by the ICSA shareholders at the EGM held on February 12, along with another investment of $22 million from Goldman Sachs. ICSA stated that the transaction with Citigroup could not be completed within the prescribed statutory time limit of 15 days from the date of the EGM due to certain technical reasons. However, another investor Goldman Sachs has committed $22 million in ICSA.
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