Reliance Mutual Fund Any Time Money Card Launched

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 access to their investments, as and when required, without restricting the growth potential of investments. We feel this card will fill this gap and provide them the necessary reassurance of instant access to their money, allowing them to access their investments just as they would a savings account.”

Reliance Mutual Fund Any Time Money Card will provide an access to the investments of investors and necessary reassurance of instant access to their money.

The Reliance Mutual Fund Any Time Money Card will be made available to investors investing in RMF. Himanshu Vyapak added, “the card will be linked to investments made in the designated funds and can be used to withdraw cash from any VISA authorized ATM or payments at Point of Sale (PoS) outlets. The card has no annual fees or transaction charges within India.”

There is no annual fee or transaction charge within India for the card. It will be linked to investments and can be used to withdraw cash from any VISA authorized ATM. It is a new product of Reliance Mutual Fund after Reliance SIP in Gold Savings Fund.

Read more

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 into three groups in all.

Note that this condition means that no claim will be payable in the event of recurrence of say heart attack or cancer, since they would fall in the same group. Group A includes conditions like heart attack, coronary artery bypass, kidney or heart transplant, kidney failure and paralysis. Group B has coma, multiple sclerosis, liver or lung transplant. And Group C takes care of cancer, benign brain tumour and bone marrow transplant.”

About the details of Triple Health Insurance Plan the news portal writes, “Only those with no pre-existing illnesses at the time of applying will be eligible for this policy, which will kick in after a waiting period of 90 days from the policy's inception. Also, between diagnoses of two illnesses, there has to be a gap of 365 days, for the second or third claim to be admissible. Premium rates are guaranteed for the first three policy years, post which they can be reset annually.

The total policy and premium paying term is 15 years. The minimum and maximum ages at entry are 18 and 50, respectively, with the upper age limit at maturity being 65 years. You have to buy a cover of at least Rs 2 lakh, while the highest cover available under the policy is Rs 30 lakh.”

So, it is one of the best health policies for the age group of 18 to 50. Maturity of age for the plan is 65 years. Policy paying term is 15 years. You can take a look of Capital Protection Oriented Fund of SBI Mutual Fund also.

Read more

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 provide opportunities for long-term growth in capital.

Further it adds,

“Fund combines investment avenues and caters to the prime requirement of all the Indian investors who want returns along with the capital protection.”

SBI Capital Protection Oriented Fund is combined with the investment avenues. It creates the prime requirement of all the Indian investors who want returns along with capital protection. It is the latest offering from SBI after SBI Gold Fund of SBI Mutual Fund.

Read more

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 the assets under ETF schemes in the country crossed Rs 6,000 crore last month.”

SBI Gold Fund will open on August 22 and close on September 5, 2011. Investors have to invest minimum Rs. 5000 in this fund.

The portal quotes another statement of SBI MF Chief Investment Officer Navneet Munot,

“Gold could show some volatility in future and hence the SIP route makes more sense. Looking at the current global economic conditions and stock market volatility, gold is a better option.”

So, gold is a better option to see the economic conditions and stock market volatility. In this situation, SBI Mutual Fund launches SBI Gold Fund to grab the investors from the market.

Gold loans and investment in gold are the main market in India these days. Loan against Gold Units of Reliance Commercial Finance and Loans against Gold ETF Units of Muthoot Finance are the most effective products of the recent days. Now, SBI Mutual Fund has introduced SBI Gold Fund to grab Indian market.

Read more

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 of HDFC Bank Country Head (Retail Assets and Credit Cards) Pralay Mondal,

“…HDFC Bank already enjoys the highest mind and wallet share in credit cards. With INFINIA, we will redefine the lifestyle experience of the elite.”

So, HDFC Bank thinks to redefine the lifestyle experience of the elite. The bank has already targeted highest mind of India to share experience of credit cards.

INFINIA Card will be available in both Visa and MasterCard format. The card is launched for India's High Networth Individual (HNI) population.

HDFC Bank INFINIA card will became the honorable card for the rich population of India. The bank will initially offer the card only to 5000 HNI population.

HDFC Bank has 186 distribution network and 5,471 ATMs in 996 cities in India as on March, 2011. HDFC is one of the most influencing banks in Indian banking sector. Indian financial market is taking a new shape with banking institutions. Loans against Gold ETF Units of Muthoot Finance have given a new vision to the Indian investors.

Read more

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 the extent of 85 per cent of the Net Asset Value of ETFs.”

The news portal quotes a statement of Sunita Anand also who is National Stock Exchange Assistant Vice-President and Southern Region Head,

“Gold ETFs have seen a progressive rise in popularity throughout the country over the past two to three years, attaining a whopping size of over Rs 5,000 crore as of June this year, resulting out of active investments from over 320,000 investors.”

In an analysis of the fund, the news portal writes,

“Commonly referred as 'paper gold', gold ETFs are mutual fund units issued by asset management companies against 99.5 per cent purity physical gold deposited with a SEBI-registered custodian.

These funds are passively managed and mirror domestic gold prices. By enabling investors to invest in gold without holding it in physical form, gold ETFs offer a rather unique investment opportunity to investors.”

So, essence of the gold ETFs offer is giving a rather unique investment opportunity to investors by Muthoot Finance Ltd. It is introduced just after Loan against Gold Units of Reliance Commercial Finance.

Read more

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 believe that gold funds have opened an entirely new avenue for offering loans to customers. We expect this segment to ramp up aggressively as investors start embracing this form of gold for future investments. The tie-up provides a unique opportunity for Reliance Gold Savings fund investors to unlock the value of their savings held in form of Gold mutual fund units. Investors will continue to enjoy benefit of gold price appreciation during the tenure of loan.”

The news portal writes about the character of loan against gold units,

“Reliance gold savings fund enables investments in the precious metal in paper form, without having to open a dematerialised account. In other similar funds, a demat account is mandatory.”

This facility is offered across 17 locations in India. These are launched with an exclusive tie-up with Reliance Mutual Fund. It would initially be available to investors Reliance Gold savings fund only. So, it enables investments in the precious metal in paper form. It is launched just after Reliance SIP in gold savings fund.

Read more

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 and exposure to the relative attractiveness of gold in certain phases. The investors will get benefit from equity and gold ETF- two asset classes in terms of capital appreciation and avail tax benefits.”

It provides diversification and exposure to the relative attractiveness of gold in certain phases as per the stamen of Sunil Subramaniam who is the Sundaram Mutual Fund's Director-Sales & Marketing.

It quotes the statement of Sundaram Equity Plus Fund Manager, Srividhya Rajesh also,

“The performance of the scheme will be benchmarked to the S&P CNX Nifty index for the equity and equity related instruments and to the price of gold for the investments in gold-ETF. The objective of this scheme would be to seek capital appreciation by investing in equity and equity-related instruments listed in India to the extent of at least 65 per cent and in gold-ETF up to 35 per cent.”

The news portal writes about the Sundaram Mutual Fund,

“Sundaram Mutual Fund, a major player in the fund management has an average asset under management (AUM) of about Rs 14,556 crore as on April 2011.”

We already have experienced Samridhi Plus of LIC. Now, tell your experience with Equity Plus Scheme of Sundaram Mutual Fund.

Read more

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 risk and tax-efficient scheme.

The online news portal quotes a statement of Mahendra Jajoo who is the Pramerica Executive Director and CIO-Fixed Income,

“FMPs can be an ideal product for all investors who wish to invest in a product with moderate risk for a fixed tenure and earn tax-efficient returns. In the mid-quarter Monetary Policy review conducted on March 17, RBI hiked key rates by 25 bps.”

"Bank CDs are currently trading at attractive yields and with the fresh round of rate hike, they are expected to stabilise around these attractive levels. Thus, this could be an opportune time to invest in a FMP.”

It is time to invest in a FMP when bank CDs are currently trading at attractive yields. It is being considered as an ideal product for all investors who wish to invest in a product with moderate risk for a fixed tenure and earn tax-efficient returns. It is the most appreciating product like Samridhi Plus of LIC.

Read more

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, both products have been introduced after having researched of market and consumers’ requirement. The plans have been designed to provide returns at the key life stages.

The news portal writes about the insurance plans,

“While the retirement plan - Bharti AXA Life Wonder Years Retirement Plan - will be a traditional product and offer combined benefits of guaranteed returns and life insurance cover.

The child plan - Bharti AXA Life Bright Stars Power Plus - would have the features that protects and build savings for the child's key lifestages.”

So, these insurance plans are compatible with new requirement of customers. These are as impressive as Samridhi Plus of LIC.

Read more

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 1500 monthly amount. There is 1 lakh per annum under any mode for the 5 year premium paying term.

It quotes a statement of LIC also,

“Samridhi Plus safeguards policyholders' investment from market fluctuations. Accident benefit option is also available under this plan that will be equal to the life cover up to a maximum of Rs 50 lakh; subject to certain conditions. The policy term for the plan is fixed for 10 years.”

So, there is an accident benefit option also under this plan. It will be known as equal to the life cover up to a maximum of Rs. 50 lakh. It is fixed for 10 years for the policy term.

Samridhi Plus is launched with the new aspect of flexibility in the insurance sector. You are able to choose it according to your needs and requirement. The plan is really impressive for all age. The plan is as impressive as Life Shield Platinum and Aviva Dhan Varsha of Aviva Life Insurance.

Read more

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 gold in small amount through the SIP mode.”

Reliance SIP in Gold Savings Fund is aimed to cultivating a regular saving habit in gold sector with small amount through SIP mode.

With another statement of Sikka, “Reliance Gold Savings Fund is the only fund in the market which will enable investors to invest in gold in a paper form without the need of a Demat account as it provides the facility to invest through online medium and physical application mode.”

It is the most secure way to invest in Reliance Gold Savings Fund with Reliance Mutual Fund. Investors can invest in gold in a paper form without the need of a Demat account. There are both modes to apply for the Reliance Gold Savings Fund – physical and online. It is as benefited as Classic ULIP Plan of Reliance.

In the conclusion he said, “The new fund offer was a convenient way to diversify investment portfolio and reap the returns of gold from a long-term perspective.”

The news portal writes about the fund, “The fund allows small regular investments as low as Rs 100 per month and in multiples of Re one thereafter.”

Read more

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 Mr. T R Ramachandran, CEO and Managing Director, Aviva Life Insurance India, “…Moreover, the 2 products are on a traditional platform and take care of the problems on loan protection, income protection and provide guaranteed returns.

The country is underinsured with only 4% of insurance penetration and a growing base of insurable population in the age group of 15-59 years.

Aviva India is a joint venture between one of the country's oldest and largest groups, Dabur, and Aviva plc, the UK's largest insurance group, whose association with India dates back to 1834.

Our vision is to be amongst India's leading life insurers with a quality business model, focused on sustainable growth. We seek to build a robust product portfolio meeting all customer lifecycle needs related to - Savings, Retirement, Investments and Protection.”

Life Shield Platinum and Aviva Dhan Varsha traditional insurances products are benefited with various features like Smart Horizon Ulip Plan of SBI Life. These are helpful in savings, retirement, investments and protections. You can get the biggest advantage with Life Shield Platinum and Aviva Dhan Varsha insurance products of Aviva Life Insurance.

Read more

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 higher exposure to equities, followed by increasing exposure to debt and money markets as the plan nears maturity. Thus, AAA mechanism ensures better returns for investors, while protecting their capital.”

According to SBI Life, there is a great chance of better returns for the investors, while protecting their capital.

About the benefit of the plan, he added, “To avail the benefit of Automatic Asset Allocation facility, the customer can choose either Plan A or Plan B, depending on his risk appetite. Under Plan A, the equity exposure is higher as compared to Plan B. The product also provides the flexibility to allow the customer to actively manage his investment through a choice of four funds namely, Index, Equity, Balance and Bond Fund. This option is possible under Plan C.”

People can choose the plan according to their benefit. There is Plan A, B and C. There is flexibility also in each plan to manage investment through a choice of four funds - Index, Equity, Balance and Bond.

Smart Horizon Ulip Plan of SBI Life is compared with ING Market Shield ULIP. Both plans have greater offers for the investors.

Read more