Thursday, March 11, 1999
Dundee Mutual Fund plans to invest Rs 56 cr in software stocks
Dundee Mutual Funds, which manages assets worth Canadian $6.5 billion through 30 schemes, is bullish on the Indian IT sector and plans to invest upto Rs 56 crore (Canadian $20 million) in the sector. This will be done through the international fund which is to be launched in Canada shortly.
FIIs join the party on the bourses
After a hesitant start, FIIs seem to have joined the party on the bourses. Post-Budget, a whopping Rs 430 crore come into the Indian markets through the FII route while the Sensex has gained 16%. According to the figures by Sebi, the net FII investment on March 9 was Rs 170 crore ($ 39.8 million) as against $ 65.2 million in the entire month of February.
Time-lag between UTI's sale price, historic NAV cut
Unit Trust of India has reduced the time lag between the sale price of its open-end equity funds and the pricing based on historic net asset value. The mutual fund behemoth is attempting to price its units closer to the intrinsic value of underlying assets rather than link the sale price to a week-old NAV.
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