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

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

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

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

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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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.

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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.

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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.

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