UTI Mutual Fund, the country's oldest fund house has introduced ‘UTI Fixed Term Income Fund Series V-VIII’, a close-ended income scheme in the market.

The investment objective of the scheme is to generate regular returns by investing in portfolio of fixed income securities normally maturing in line with the maturity period of the plan.

The scheme will invest up to 5-100% in debt including securitized debt and 0-95% in money market instruments. The scheme may invest up to 100% in the securitized debt.

State Bank of India (SBI), India's largest commercial bank has signed a Joint Venture pact with Macquarie Group and International Finance Corporation (IFC).

Under the arrangement, both foreign partners will help the lender in the set up and management of an Infrastructure Private Equity Fund for investing in Indian Infrastructure projects and Companies. 

However, the fund will be operational on receipt of requisite regulatory approvals. The JV agreement is based on the earlier MOU signed on April 16, 2008. 

Reliance Mutual Fund, Country's No 1 fund house, has launched 'Reliance Fixed Horizon Fund- X-Series 8', a close-ended income scheme in the market. The face value of new issue is Rs 10 per unit. 

The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. 

UTI Mutual Fund, the country's oldest fund, has launched its unique 'UTI Wealth Builder Fund-Series II', an open ended equity oriented scheme in the Indian market.

UTI claims that UTI Wealth Builder Fund-Series II is the first of its kind in the mutual fund industry to offer asset allocation which combines traditional as well as non- traditional asset class i.e. Equity and Gold. 

HSBC Mutual Fund, one of the premier asset management companies in India has launched ‘Fixed Term Series 68’, a close-ended income fund in the Indian market. 

The face value of the fund is Rs 10 per unit and the new fund offer period (NFO) for subscription will be from 6 October to 13 October 2008. 

The benchmark index of the scheme is Crisil Liquid Fund Index, which will mature in 3 months from the date of allotment. 

Despite of tight liquidity conditions, Taurus Mutual Fund, one of the oldest mutual funds in the country has successfully collected over Rs 100 crore through its first one month Fixed Maturity Plan (FMP) issue.

The AMC claims that the issue managed to attract funds largely due to the relationship it has built with the investors. Taurus's FMP issue received good response between September 23 and 25.