Meeting on ONGC share allotment today
Mumbai: Minister for Disinvestment, Arun Shourie, has said that a meeting to sort out the issues involved in the ONGC share allotment would be held on Monday. Officials of Finance Ministry, SEBI, BSE, NSE, merchant bankers and the registrar to the issue would attend the meeting. The Minister said the meeting is expected to examine the losses suffered by some investors who sold shares in excess of what they had been allotted.
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Kotak Mahindra MF moots Fund of Funds
Kolkata: Kotak Mahindra Mutual Fund will launch a Fund of Funds (FoF) that will chiefly invest in diversified equity schemes, including a select few managed by other fund houses. The FoF will have Nifty as its benchmark, and will aim to generate long-term capital appreciation. The usual asset allocation will be 90-100 per cent in open-ended equity schemes carrying medium-to-high risk profiles. The fund manager will also normally invest in Kotak MF's liquid and floating rate schemes.
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