JM Financial MF launches FMF Series X
JM Financial Mutual Fund launched JM Fixed Maturity Fund - Series X - Quarterly Plan 1. The investment objective of the fund is to generate regular returns through investments in fixed income securities normally maturing in line with the time profile of the respective plan. Each series will have regular and institutional plan. The scheme offers investors growth option and dividend option under both the plans.
ICICI Prudential MF files an offer document
Name of Fund: ICICI Prudential Interval Fund III
Scheme: It is a debt-oriented scheme.
Objective: The primary objective of the scheme to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.
Investment options: Investors under the ICICI Prudential Interval Fund III have a choice of retail option and an institutional option. The investors will have sub options of cumulative and dividend with dividend payout and dividend reinvestment facilities.
Asset Allocation: The scheme will invest 30-100% of its portfolio in money market instruments. The scheme will invest 0-70% in government securities issued by Central and or state government and other fixed income / debt securities including but not limited to corporate debt and securitised debt. Debt securities may include securitised debt, which may go up to 70% of the portfolio and derivative instruments to the extent of 50% of the net assets of the scheme. Average maturity of the securities will be in line with the maturity profile of the plan.
Face Value: Rs 10.
Entry Load: There will no entry load charged for the scheme.
Exit Load: The scheme charges an exit load of 0.2% on redemption of units anytime other than the specified transaction period.
Minimum Investment Amount: The minimum investment amount under retail option is Rs. 5000 and in multiples of Re.1 thereafter. Under institutional option, the minimum investment option is Rs 2 crore in multiples of Re 1 thereafter.
Minimum target amount: Rs 2 crore
Benchmark Index: CRISIL Liquid Fund Index
Fund Manager: Mr. Chaitanya Pande
DSP Merrill Lynch MF extends NFO period for two FMP
DSP Merrill Lynch mutual fund has extended the new fund offering (NFO) period of DSP Merrill Lynch Fixed Maturity Plan- 13 months Series 1 and DSP Merrill Lynch Fixed Maturity Plan 3 Months Series 6 from 11 March to 12 March 2008. The issue is open for subscription from 5 March 2008. Both the schemes are close-ended income scheme. The NFO price for the fund is Rs 10 per unit. The minimum investment amount under regular plan will be Rs. 25,000 and in multiples of Re. 1 thereafter for both the schemes. Both schemes will have the investment under institutional plan will be of Rs.1 crore and in multiples of Re. 1 thereafter.
Exit Load Revision under Birla Income Plus
Birla Sun Life Mutual Fund has revised the load structure of Birla Income Plus Currently the scheme charges an exit load of 0.60% for investment upto Rs 1 crore and redeemed within 6 months. Effective March 10, 2008 the fund would charge an exit load of 0.75% for investment upto Rs. 10 lakhs and redeemed within 6 months.
Max New York Life unveils Lifeline health insurance plan
Mangalore: Max New York Life Insurance on March 11 unveiled its Lifeline health insurance plan in Mangalore. Max New York Life Insurance, said that the `Lifeline' series comprises three distinct groups of solutions such as `Medicash Plans', `Wellness Plans' and `Safety Net'. `Lifeline' series brings long-term insurance coverage for hospitalisation, surgeries and critical illness. It also gives coverage for largest range of ailments.
ABN Amro MF launches ABN Amro FTP - Series 10 Plan F
ABN Amro Mutual Fund launched ABN Amro FTP - Series 10 Plan F. The Investment objective of the Scheme would be to achieve growth of capital through investments made in a basket of fixed income securities in line with the duration the Scheme. The scheme has two plans-regular and institutional plans. The scheme offers growth, dividend option (Calendar Monthly, Calendar Quarterly, Calendar Half Yearly, Calendar Yearly, and Dividend on Maturity Option).
ING MF changes the name of its schemes
ING mutual fund has decided to change the names of the below mentioned schemes. The changes will be effective from 15 March 2008. ING Select Stocks Fund changed to ING Core Equity Fund. ING A.T.M. (Against the Market) changed to Fund ING Contra Fund. ING Income Fund-Short Term Fund changed to ING Short Term Income Fund.
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