IDFC Asset Allocation Fund to be Transacted through Online MF Platform

IDFC Mutual Fund offers an alternate transaction platform to facilitate purchase/subscription and redemption of units of IDFC Asset Allocation Fund (Aggressive plan, Conservative Plan and Moderate Plan) through the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) – Mutual Fund Service System (MFSS). The facility will be offered from 19 August 2010.

Units can be held as per the choice of the investor, in physical or depository mode.

IDFC Asset Allocation Fund is a fund formed with primary objective to generate capital appreciation through investment in different mutual funds schemes primarily local funds based on a defined asset allocation model.

Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24#

Mutual funds dump equities worth Rs 1432 crore in August

Mutual funds offloaded shares worth a net Rs 169.90 crore on Tuesday, 17 August 2010, lower than Rs 334 crore on Monday, 16 August 2010.

The net outflow of Rs 169.90 crore on 17 August 2010 was a result of gross purchases Rs 565.40 crore and gross sales Rs 735.30 crore. The key benchmark indices ended almost unchanged in range bound trade on that day.

Mutual funds have sold shares worth a net Rs 1432.20 crore this month so far, till 17 August 2010. Mutual funds had dumped shares worth a net Rs 4405.30 crore in July 2010.

Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24#