Offshore India Bond Fund to be Launched by HSBC Global Asset Management

Thursday, July 19, 2012

Offshore India Bond Fund is to be launched by HSBC Global Asset Management. The Company has planned to launch Offshore India Bond Fund over the next few months.

About Offshore India Bond Fund, Economic Times quotes a statement of Sridhar Chandrasekharan, chief executive, HSBC Global Asset Management, “Given the long term confidence, the credit, rates and currency considerations have made Indian fixed income attractive.”

Further he adds, “Helpful in this has been the ultra-low interest rate environment in much of the developed world, and also the steps taken to allow foreign investors to access the Indian fixed income market, although more needs to be done.”

It writes his statement, “A lot of other countries are also facing similar issues, even in the developed world, and hence investors will always look at relative value across a range of countries and the rating alone is not a make or break scenario of the investment case for them.”

ET online magazine writes about Offshore India Bond Fund, “according to offshore fund managers, higher interest rates are prompting funds to take a lighter view of a probable downrating (of India sovereign) by top rating agencies, asset managers said. Yield on India's 10-year benchmark bond is about 8.3%, which is higher then what crisis-hit countries in the Eurozone are paying investors. The 10-year UK gilts fetches 1.55% while the ten-year US treasury bonds yield 1.49%. Triple A-rated Indian corporate bonds yield about 9.3%.”
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Taurus Banking & Financial Services Fund Launched by Taurus Mutual Fund

Sunday, May 13, 2012

Recently, Taurus Mutual Fund launched Taurus Banking & Financial Services Fund which is the first sector fund of the Company.

An online news portal about business and economy – www.economictimes.indiatimes.com reported about Taurus Banking & Financial Services Fund, “The fund will be actively managed and benchmarked to the BSE Bankex. Being a sectoral fund, the portfolio could be concentrated. The fund manager will invest with a long term horizon and a time frame of 3 to 5 years. The minimum investment amount is Rs 5,000. While there is no entry load, there is an exit load of 1% if you redeem before the completion of one year of allotment of units. The NFO closes on May 16, 2012.”

Further it added, “The central bank reduced repo rates by 50 basis points, signaling rates have peaked out and could be headed downwards. This along with the fact that the stock markets are in a correction phase could give the fund manager a good opportunity to build a portfolio. However, not all is well specially within the PSU banking space.”

It quotes a statement of Kartik Mehta also who is AVP (Research), Sushil Financial Consultants, “Restructured assets have increased five fold without any material change in the reported level of non performing assets. Also, the government is expected to increase its borrowings which in turn would increase the cost of capital for banks, thereby reducing their margins.”

So, Taurus Banking & Financial Services Fund is the first and new area of investment by Taurus Mutual Fund like IDBI Dynamic Bond Fund.
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New ULIP Launched by Reliance Life Insurance

Wednesday, February 29, 2012

Recently, Reliance Life Insurance Company (RLIC) which is a part of Reliance Capital Ltd announced to launch a new unit-linked insurance plan. The new ULIP of RLIC comes with both regular as well as single premium options.

About the new Reliance Life Insurance ULIP, online news portal - economictimes.indiatimes.com about business and economy quotes a statement of Malay Ghosh, President and ED, Reliance Life Insurance, “This is the first time that RLIC is introducing a new life cover option in its ULIP portfolio and it offers customer life cover benefit that is equal to the sum assured or the fund value, whichever is higher.”

Further he adds to the ET, “This feature is a clear differentiator from the existing ULIP plans in our portfolio that offer life cover benefit that is equal to the sum assured plus fund value.

This new feature allows the customer to get the benefit of enhancing their savings, coupled with insurance protection, at minimal cost.”

The news portal quotes the statement of Ghosh about the New ULIP of Reliance Life Insurance in details, “Reliance Life Insurance Classic Plan-II comes with regular as well as single premium options, while premium for regular option starts at Rs 15,000 and for single premium at Rs 50,000.

The minimum policy term under the plan is 15 years and the maximum policy term is 30 years. The age of entry for this policy can be from 7 years to 60 years and the maturity age can vary from 22 years to 75 years.”

In the conclusion, the news portal writes, “The maximum sum assured for regular premium policies ranges from 20 to 30 times annualized premium (depending on age at entry) and for single premium policies it ranges from 2-6 times the single premium.”

So, New ULIP of Reliance Life Insurance is the beneficial and contemporary plan for the customers like Reliance Mutual Fund Any Time Money Card.
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IDBI Dynamic Bond Fund Launched by IDBI Mutual Fund

Tuesday, January 31, 2012

There is a new fund offer (NFO) from IDBI Mutual Fund, Mumbai Asset Management Firm known as IDBI Dynamic Bond Fund. The fund is featured with generating income while maintaining liquidity on a minimum investment of Rs 5,000. It opens from 31st January, 2012.

An online news portal about business and economy - economictimes.indiatimes.com, writes about IDBI Dynamic Bond Fund, “The scheme will invest in portfolio comprising debt instruments like government securities, PSU and corporate bonds and money market instruments.”

The news portal quotes a statement of Debasish Mallick also about IDBI Dynamic Bond Fund who is the IDBI Asset Management managing director and chief executive, “Debt is the flavour of the market. People consider debt to be the best option compared to equities which is still considered uncertain”

Further he added about IDBI Dynamic Bond Fund, “However, the asset allocation in the debt and money market instruments is not predetermined and could vary according to market conditions.”

“We want to collect a sizable corpus and allow it to grow with time,” according to the executive director B Sarath Sarma. So, IDBI Dynamic Bond Fund is a comprehensive MF to grow with time.

In the conclusion, “The open-ended debt scheme will close on February 14 and has an exit load of 1 percent if redeemed within a year. The company is aiming to collect a corpus of at least Rs 107 crore from the issue.”

IDBI Dynamic Bond Fund is an open ended debt scheme. It will lose on 14th February, 2012. The Company has targeted to collect a corpus of at least Rs. 107 crore from the Fund.

IDBI Mutual Fund is a part of IDBI Bank to invest in Mutual Fund market. IDBI Dynamic Bond Fund is the new fund from IDBI Mutual Fund. It can be compared with Any Time Money Card of Reliance Mutual Fund.
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