Reliance Mutual Fund launched “Any Time Money Card” to give retail consumers instant access to their mutual fund investments.An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Himanshu Vyapak, CEO of Reliance Capital Asset Management Ltd., “Reliance Mutual Fund is the first fund house in the country to launch this card that offers all the convenience of a debit card for investments made in Reliance mutual fund schemes.”Any Time Money is the first card in India launched by Reliance Mutual Fund to offer all the convenience of a debit card for investments in RMF.Further he said in his statement about Reliance Any Time Money Card, “For long, investors have been shying away from investing in MF schemes, especially liquid funds, primarily for lack of options that assure them...
Triple Health Insurance Plan Introduced by Bharti AXA Life
Recently, Bharti AXA Life introduced a new critical illness plan - Triple Health Insurance Plan. It covers up to 3 unrelated critical illnesses.An online news portal about business and economy - economictimes.indiatimes.com, writes about Triple Health Insurance Plan, “The sum assured is paid out in lump sum upon diagnosis of ailments covered under the policy. While other critical illness covers cease once the claim is disbursed, this product promises to extend the cover to include three critical illness claims during the life of the policy.”Further it adds, “However, it is restricted to 13 diseases or conditions covered by the policy. The claims can be to the extent of 100% sum assured for all the three illnesses, provided they do not fall in the same group as listed by the policy, which covers 13 such ailments, segregated...
Capital Protection Oriented Fund Launched by SBI Mutual Fund
Recently, SBI Mutual Fund launched a close-ended Capital Oriented Fund. It is featured with the twin objective of capital protection and growth.An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement about SBI Capital Protection Oriented Fund, “The objective of the three-year close-ended fund is to protect the capital invested on maturity of the scheme through focused investments in equity, debt and money market instruments, at the same time also seeking to provide investors with opportunities for long-term growth in capital.”SBI Capital Protection Oriented Fund is aimed to fulfill the objective of protecting the 3-year close-ended fund from the capital invested on maturity of the scheme. It protects the fund focused in equity, debt and money market. It seeks investors also to...
SBI Gold Fund Launched by SBI Mutual Fund
Recently, SBI Mutual Fund launched a new fund - SBI Gold Fund. It is an open-ended fund to enable investors to invest systematically in gold and gain advantage of the recent rally in the metal’s prices.
An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Deepak Chatterjee who is the SBI MF Managing Director and Chief Executive Officer, “It is a convenient product and will give an opportunity to an investor to invest in the purest form of gold without the need of buying and storing physical gold, that too, without a dematerialised account unlike gold exchange traded funds.”
So, SBI Gold Fund will give an opportunity to an investor to invest in the gold without buying and storing it. It is just like gold exchange traded funds.
He added, “There was a demand for ETFs and...
HDFC Bank INFINIA Card Launched for Only 5000 Individuals
Recently, HDFC Bank announced to launch a new credit card for the rich people of the country named – INFINIA. Initially, the bank will issue only to 5000 individuals.The ultra premium credit card is featured with virtually “no limits” – not just in terms of spend, but also the luxuries as per the announcement of HDFC Bank.An online news portal - economictimes.indiatimes.com about business and economy, quotes a statement of HDFC Bank Managing Director Aditya Puri about INFINIA Credit Card, “…What prompted us to conceive INFINIA was the need our clients felt for such a product. We are confident INFINIA will soon be the card of choice for India's rich.”So, INFINIA is launched by HDFC to satisfy the need of the Bank’s clients. The card is introduced as the choice for India’s rich.Further the news portal quotes a statement...
Loans against Gold ETF Units to be offered by Muthoot Finance
Recently, Muthoot Finance Ltd announced to offer loans against Gold ETF (Exchange Traded Funds) units as security. The Company claims to be the largest gold finance NBFC in India.An online news portal about business and economy - economictimes.indiatimes.com quotes a statement of Muthoot Finance Ltd Managing Director George Alexander Muthoot about loans against gold ETF units, “loans against gold ETF units was a scheme through which Muthoot Finance plans to venture into a totally new segment of gold financing, which would not only add value, but also enable the company to service the financial requirements of newer customer segments.”Further he adds, “The new scheme would come into force by this month end and would enable the customers to avail finance at the rate of 15 per cent interest against their Gold ETF units to...
Loan against Gold Units Launched by Reliance Commercial Finance
Recently, Reliance Commercial Finance (RCF), part of the Anil Dhirubhai Ambani Group, launched a unique initiative plan – loan against gold.An online news portal - economictimes.indiatimes.com, writes about the offer, “Customers can avail of loans up to 90 percent of the value of gold units held, while the minimum amount offered under this initiative would be Rs.100,000 and the maximum would be Rs.1 crore.The tenure of the loans will vary from 6 months to 12 months and can be paid in easy repayment options available under the initiative.”The news portal adds a statement of K.V. Srinivasan, chief executive of Reliance Commercial Finance also, “These loans, being offered by RCF, are part of an exclusive tie-up with Reliance Mutual Fund and would initially be available to investors of Reliance Gold Savings Fund only. We strongly...
Equity Plus Scheme Launched by Sundaram Mutual Fund
Recently, Sundaram Mutual Fund launched Equity Plus scheme, an open-ended scheme. The scheme was open for only May 16, 2011. It is closed now. It was open from May 4, 2011.An online news portal about business and economy - economictimes.indiatimes.com, writes about the Sundaram Mutual Fund Equity Plus scheme, “Sundaram Equity Plus aims to invest between 65-85 per cent in equity to give all the tax advantages of a designated equity fund and a maximum of 35 per cent in gold ETF.”So, Sundaram Equity Plus is aimed to invest more than 80% equity to give all the tax advantages of a designated equity fund.The portal quotes a statement of Sundaram Mutual Fund's Director-Sales & Marketing, Sunil Subramaniam also, “The scheme will primarily focus on opportunities in Indian equities with the addition of gold-ETF to provide diversification...
Pramerica Fixed Duration Fund-Series 2 Launched by Pramerica MF
Recently, Pramerica Mutual Fund announced to launch of a close-ended income scheme. It is Pramerica Fixed Duration Fund-Series 2.About Pramerica Fixed Duration Fund-Series 2 an online news portal about business and economy - economictimes.indiatimes.com writes, “Pramerica Fixed Duration Fund-Series 2 is open for subscription from March 24 till March 28, 2011. The duration of the fund will be for 366 days from the date of allotment, including the date of allotment.”Further it quotes a note of press release, “The scheme seeks to provide reasonable returns, commensurate with a moderate level of risk, through investments in a portfolio of debt and money market instruments. The scheme has low credit risk and is tax-efficient.”So, the scheme is aimed to provide reasonable returns with a moderate level of risk. It is a low credit...
Bright Stars Power Plus and Wonder Years Retirement Plan Launched by Bharti AXA Life
Recently, Bharti AXA Life announced to launch two new insurance plans - Bright Stars Power Plus and Wonder Years Retirement Plan.Wonder Years Retirement Plan is a retirement plan of Bharti AXA Life. It is a traditional product and offer combined benefits of guaranteed returns and life insurance cover.Bright Stars Power Plus is a child plan of Bharti AXA Life. The insurance plan is featured with protecting and building savings for the child's key lifestages.An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Bharti AXA Life Chief Marketing & Operations Officer Mark Meehan, “Both the products are based on extensive consumer research and hence address the needs highlighted by customers. They have been specifically designed to provide returns at the key life stages.”So,...
Samridhi Plus Launched by LIC under ULIP Portfolio
Recently, Life Insurance Corporation of India launched - Samridhi Plus. It is launched under unit linked portfolio. It is aimed to offer insurance protection, safety and growth.An online news portal about business and economy - economictimes.indiatimes.com, writes about the Samridhi Plus, “The minimum age at entry level for Samridhi Plus is 8 years while the maximum age is 65 years.The minimum premium ranges from Rs 1500 (monthly - ECS) to Rs 30,000 (single premium) depending on the mode of payment while the maximum is Rs 1 lakh per annum under any mode for the 5 year premium paying term.”So, LIC has minimized and maximized the age of entry level for the Samridhi Plus. There is 8 years minimum age and 65 years maximum age for the insurance policy.Premium of Samridhi Plus is also affordable and flexible which starts from...
Reliance SIP in Gold Savings Fund Introduced by Reliance Mutual Fund
Recently, Reliance Mutual Fund announced to launch India’s first systematic investment plan (SIP) in Gold Savings Fund. Premium of the SIP Gold Savings Fund can be made on the monthly basis.An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of CEO of Reliance Capital Asset Management Sundeep Sikka, “It was the first SIP in gold introduced in the domestic mutual fund industry aimed at helping investors to accumulate the yellow metal in small amounts regularly.”So, the first SIP will be known as the collecting yellow metal in small amounts regularly. The Mutual fund helps investors in accumulating gold with their regular income.Further he said, “We are introducing SIP in Reliance Gold Savings Fund. This is aimed at cultivating a regular savings habit among investors to accumulate...
Life Shield Platinum and Aviva Dhan Varsha Launched by Aviva Life Insurance
Recently, Private insurer Aviva Life Insurance announced the launch of two new insurance plans - Life Shield Platinum and Aviva Dhan Varsha. These fulfill the requirement of loan protection, income protection as well as offer guaranteed returns.Life Shield Platinum and Aviva Dhan Varsha are two traditional insurance products of Aviva Life Insurance.Life Shield Platinum of Aviva Life Insurance is featured with options to choose the protection need ranging from life protection, income replacement or loan protection.On the other hand, Aviva Dhan Varsha of Aviva Life Insurance is featured with traditional investment cum protection plan. It gives a guaranteed addition of 6 % to 9 % of the life cover along with life protection and riders to secure one's future.An online news portal - money.oneindia.in, quotes a statement of...
Smart Horizon Ulip Plan Launched by SBI Life
Recently, Private sector SBI Life launched a Unit Linked Insurance Product (Ulip) - Smart Horizon. The plan is launched to provide long-term capital appreciation.An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of MN Rao, SBI Life managing director, “The unique Automatic Asset Allocation feature makes Smart Horizon ideal for many evolving Indian investors who do have the time to make fund allocation decisions on an on-going basis.”Further he said, “Automatic Asset Allocation (AAA), an algorithm-based active investment allocation mechanism. This IT-based system developed by testing over 5,000 potential scenarios in the Indian equity and bond markets, determines the optimal risk-return combination. The investment will be made in such a manner that initially there will be...
Subscribe to:
Posts (Atom)