Balanced scheme from DSPMF: DSP Merrill Lynch AMC is planning to launch an open-end balanced scheme in the first week of May. The mutual fund plans to invest 50-60 per cent of the scheme's corpus in equity in order to benefit from the Budget sops given to mutual funds. The balance will be invested in debt instruments. At present, DSP Merrill Lynch Mutual Fund manages three schemes -- DSP ML Equity Fund, DSP ML Bond Fund and DSP ML Liquidity Fund.

Kothari Pioneer ELSS opens: Kothari Pioneer Mutual Fund haslaunched an open-ended equity linked saving scheme (ELSS) on April 5 christened as Kothari Pioneer Taxshield. The scheme is open for subscription till April 12. The fund has closed an equity linked saving scheme, Kothari Pioneer Taxshield '99, on March 31, 1999, with a mobilisation of Rs 5 crore.

$ 364m net FII outflow in FY 1999: Fiscal 1999 saw an FII outflow to the tune of $364.90 million from the Indian markets. According to the latest FII released by Sebi, this is in sharp contrast to the $1463.5 million inflow during the previous fiscal. Fiscal 1999 was the first year since the FIIs were allowed into the Indian market back in early-1993 that the country experienced negative FII figures.

Zurich Prudence opens for sale: Zurich India Mutual Fund has announced opening up of Zurich India Prudence Fund, an open-ended balanced scheme, for on-going sale and repurchase from March 31, 1999. The fund is available for purchase at an entry load of 1 per cent on the NAV on daily basis, while therepurchase will be at NAV. For original unitholders there will be no enty load till April 30.