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Taxes on MF investments
How do fund houses charge the various taxes like dividend distribution tax, capital gains tax and securities transaction tax that a mutual fund is subject to? Are these deducted from the returns the fund generates?

Lisbeth Salander returns
The late Swedish journalist/author Stieg Larsson was the man behind Lisbeth Salander — the undeniably twisted and talented female protagonist of his “Millennium” trilogy. The second part in the series, The Girl Who Played With Fire, translated from Swedish by Reg Keeland, continues from where the first book left off — asocial heroine Salander once again back to her punch-throwing, expert computer hacking ways that she honed as a former security analyst in Stockholm, spinning yet another edge-of-the-seat crime thriller. Interestingly, Larsson’s father Erland Larsson, while receiving an award for his late son last year, revealed in an interview that the character of Salander seems to have been inspired by his son’s niece Terese, to whom the author had been very close.

News of the day

Oil chiefs gather in war-scarred Angola
OPEC oil producers gathered in poverty-stricken Angola today said they would hold output firm amid comfortably high prices at their first ever meeting hosted by Africa"s new crude-pumping giant.
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Yes Bank raises $225 mn via share sale

Private sector lender Yes Bank today said it has raised $225 million (about Rs 1,034 crore) through private placement of shares to institutional investors. - Max India zooms on fund raising plans - IL&FS Education raises Rs 172 cr via India Equity Partners - Jet to raise $150-200 mn in 3-4 weeks - Hotel Leelaventure to raise $130 mn via share sale - Kraft to raise 7 bn pound via bonds to fund Cadbury buy - QIPs back in vogue with Rs 10k cr plans "The issue of $225 million, was significantly oversubscribed on strong demand from foreign institutional investors and domestic mutual funds," Yes Bank said in a statement. The bank will issue 3.84 crore equity shares at Rs 269.50 per share to institutional investors under the Qualified Institutional Placement (QIP), which would raise the overall capital adequacy of the bank to over 20 per cent. "This capital raising has been consummated to further augment our core Tier I capital base/capital adequacy, and enhance the long-term resources of Yes Bank. With this capital raising, Yes Bank"s total capital funds have crossed Rs 5,000 crore," Yes Bank Managing Director & CEO Rana Kapoor said. The said QIP will lead to a dilution of 11.33 per cent of the expanded capital base of the bank, the statement said. Morgan Stanley, CLSA and Goldman Sachs were the Joint Global Coordinates and Book Running Lead Managers to the QIP issue. "We will significantly augment our Large Corporates Business (C&IB), and the high growth Commercial Banking businesses...," Kapoor said. Shares of Yes Bank closed at Rs 245.60, up 4.16 per cent over previous close on the BSE.


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