News

 

 

 

 

 

 

 

 

 

 

 

 

This was during the initial public offering from 1 November to 3 December, with investors said to be attracted to consumption-themed products tied to China’s growth story.

ICICI Prudential Mutual Fund has started a fresh fund called ICICI Prudential Fixed Maturity Plan Series 53.   The scheme is for 371 Days and New Fund Offer will be priced at Rs. 10 per unit. It is reported that the subscription will be opened from 1 December to 7 December 2010. The scheme’s investment objective is producing regular returns through investments.   At present the two alternatives available for the scheme are cumulative and dividend option. The entry load and exit load charges will not be applicable for this current scheme. The minimum amount for application is Rs. 5000. The performance of the scheme will be evaluated against Crisil Composite Bond Fund Index.

Nikko Asset Management is set to acquire Tyndall Investments from Suncorp Group. Tyndall currently has over US$24.5 billion in assets managed on behalf of institutional investors, superannuation funds and private clients in a broad range of equity and fixed income products. It is the fifteenth largest fund manager in Australia and fifth largest in New Zealand. The acquisition of Tyndall will bring Nikko’s assets under management to US$145 billion. Nikko CEO Timothy McCarthy says the acquisition strengthens the company’s bid to be the leading Asian investment management company, according to the International Adviser.  “Tyndall Investments brings us a first rate investment team and tremendous local knowledge. We know there is a lot of appetite for Tyndall’s products in Japan, as well as significant growth in Australia,” said McCarthy.

The Australian equities specialist for BNY Mellon has been named to manage an Australian equity mandate for Russell Investments. Ankura Capital’s mandate forms part of Russell Investments’ newly launched Australian Shares Enhanced Income Fund.