HOME         WEBSITE         SUBSCRIBE           E-GREETINGS   
Tuesday, February 11, 2014
Why is deflation more dreaded than inflation?
DSP BlackRock Dynamic Asset Allocation Fund collects Rs 476 crore
SEBI gives AMFI the nod to set up distributor SRO
General insurers witness a 13 percent growth in new business premium collection
Slackness in automobile industry and aggressive pricing in health insurance segment led to a decline in the growth of new business premium collection in non-life segment. The industry’s new premium collection growth dipped to 13% in April-December 2013, lowest since April last year. In April 2013, the 27 general insurance companies witnessed a healthy growth of 22%. Subsequently, the industry saw a declining trend in growth of its new business premium collection as it recorded 20%, 18% and 17% in April-May, April-June and April-July respectively.
Last month too, the industry recorded a growth of 13% in new business premium collection. IRDA data shows that general insurers have collected Rs 56,386 crore in April-December 2013 as against Rs 49,897 crore in the corresponding period last year. The 27 companies have collected Rs 6,078 crore in December 2013 compared to Rs 5,447 crore in December 2012. The data also states that private non-life insurers have registered a growth of 17% by collecting Rs 24,817 crore in first three quarters of FY 2013-14 as against Rs 21,275 crore in the corresponding period last year. The public sector insurers have witnessed a 10% growth by accumulating Rs 31,569 crore in April-December 2013 against Rs 28,623 crore in the corresponding period last year.
Among the PSU insurers, New India Assurance collected the highest premium of Rs 8,397 crore followed by United India which reported a premium income of Rs 7,306 crore. Among private insurers, ICICI Lombard General Insurance has topped the premium chart by registering a growth of 13% with premium collection of Rs. 5,078 crore while Bajaj Allianz stood at second position with premium collection of Rs3,266 crore till December 2013.
Source: Team Cafe Mutual
Five things to know about National Savings Certificate
1) The National Savings Certificate (NSC) is eligible for tax deduction under Section 80C for an investment of up to Rs 1 lakh. One can invest in five- or 10-year NSCs.
2) The interest on the NSC is fixed in April every year. The current rate is 8.5% for five years, and 8.8% for 10 years.
3) The interest accumulated every year can be deducted from Rs 1 lakh investible in that year for saving tax, as it is considered to be invested for this purpose.
4) The interest is taxable, but since it can be reinvested as part of Section 80C investment, it makes NSC an attractive option.
5) Investors have to keep an account of the interest received each year and ensure that the overall investment, including the interest, is in the Rs 1 lakh limit.
(Content courtesy: Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre and Arti Bhargava.)
Source: ET
DWS Cash Opportunities Fund Announces bonus units
Opportunities Fund. The bonus units on the face value of Rs 10 per unit will be: Regular Plan: 0.6836 units for every unit held
Direct Plan: 0.6854 units for every unit held
Franklin India Smaller Companies Fund announces dividend
IDBI Mutual Fund launches IDBI Debt Opportunities Fund
Highlights:
• Open-ended income scheme
• Accrual based product with focus on interest income through buys & hold strategy
• Investment universe: Debt including securitized debt and money market instruments across the investment grade credit rating and maturity spectrum.
• Benchmark – Crisil Short Term Bond Fund Index
• Options for investment:
- Growth Option
- Dividend Option
The New Fund Offer (NFO) will open for subscription on 11 February 2014 and close on 24 February 2014. The units will be available at par (Rs.10/-) during the NFO and at NAV related prices once the scheme reopens for subscription. The scheme will re-open for continuous sale and repurchase from 11 March 2014.
The investment objective of the scheme is to provide investors with regular income and opportunities for capital appreciation while maintaining liquidity through active management of a diversified portfolio comprising of debt and money market instruments across the investment grade credit rating and maturity spectrum.
Speaking on the occasion, Mr. Debasish Mallick, MD & Chief Executive Officer, IDBI Asset Management Ltd said “The objective of the scheme is generation of interest income for investors. The launch has been timed to take advantage of the expected elevation in yield at the time of initial launch. The scheme proposes to invest in good quality rated bank and corporate papers of various maturity and duration and adopt a buy and hold strategy as well as benefit from opportunities that may arise on the credit curve.”
DSP BlackRock MF Announces Dividend Under DSP BlackRock Tax Saver Fund
UTI MF Launches UTI-FTIF-Series XVII – XIII (369 Days)
The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.
The scheme offers growth option, quarterly dividend option with payout and reinvestment facility, flexi dividend option with payout and reinvestment facility, annual dividend option with payout and reinvestment facility and maturity dividend option with payout facility.
The scheme will allocate upto 100% of assets in debt instruments with low to medium risk profile and upto 100% of assets would be allocated to money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Short Term Bond Fund Index.
The scheme will be managed by Manish Joshi.
Taurus Mutual Fund announces change of compliance officer
HDFC FMP 370D February 2014 (1) Extends NFO closing date
Accordingly, NFO will open on 11 February 2014 and close on 13 February 2014.
ING Mutual Fund announces change in key personnel
Vishal Shah, Vice President-Operations is 31 years old with B.Com, CA and CFA Level-1. His last 10 years brief experience is:
Vice President-Operations-ING Investment Management (January 2013 onwards)
Asst. Manager, Sr. Manager and Asst. Vice President-Operations (June 2007-December 2012)
Executive-Fund Accounting-ICICI Prudential AMC (January 2006-May 2007)
Mutual Fund Executive-S&S Business Solutions (July 2005-December 2005)
Vandana Vangani, Executive Vice President ceases to be the investor relations officer of the AMC from the close of business hours of 11 February 2014. She continues to be head-finance & administration of the AMC.
Birla Sun Life Fixed Term Plan – Series KC (368 Days) Floats On
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility) and Quarterly Dividend sub-option (Payout Facility).
The scheme would invest upto 100% debt securities and money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil.
Benchmark Index for the scheme is CRISIL Short Term Bond Fund Index.
The fund manager of the scheme will be Kaustubh Gupta.
Mirae Asset Fixed Maturity Plan – Series I (368 Days) Floats On
The investment objective of the plan under the scheme is to generate income through investments in debt and money market instruments maturing on or before the date of maturity date of the plan.
The scheme offers growth option, dividend option with payout facility, dividend sub-option with payout facility and quarterly dividend sub-option with payout facility.
The scheme will allocate 70%-100% of assets in money market instruments with medium risk profile and upto 30% of assets would be allocated to debt instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund manager of the scheme will be Yadnesh Chavan (Debt Portion).
Indian Railways Carry 866.14 Million Tonnes of Freight During April-January 2014
During the month of January 2014, the revenue earning freight traffic carried by Indian Railways was 96.40 million tonnes. There is an increase of 3.83 million tonnes over the actual freight traffic of 92.57 million tonnes carried by the Indian Railways during the same period last year, showing an increase of 4.14 per cent.
Moody's: QE Tapering having greater impact on emerging market countries with external imbalances
The impact of the withdrawal of quantitative easing, or QE tapering, is varying from country to country, but those with external imbalances or a reliance on external funding have been most vulnerable. Specifically, Moody's says that QE tapering is most likely to have a negative impact on countries that lack buffers such as hard currency reserves or policy tools such as a floating exchange rate.
However, Moody's expects that the negative impact of QE tapering on these countries will likely be temporary and part of the adjustment process to normalization of monetary policy in advanced economies.
The currencies of South Africa and Turkey have so far been hardest hit by capital flow adjustments resulting from QE tapering. This is due to country-specific features, such as relatively larger current account deficits, lower-than average total hard currency reserves and lower official interest rates.
Brazil has so far not been affected because it began its own tightening cycle much earlier than other countries --and just before the Fed announced its tapering plan in May 2013, says Moody's. Russia's current account surplus and larger hard currency reserves have so far shielded it from the tightening in global liquidity.
"Recent events confirm previous expectations that the tapering process and its associated increase in US and global financing costs will, on average, have a considerably greater impact on countries in emerging markets than on advanced countries," says Moody's Sovereign Chief Economist Lúcio Vinhas de Souza. "Emerging market countries are among the most exposed to a reduction or reversal of financial flows given that they were the recipients of large amounts of capital during the quantitative easing period."
Global Services PMI at 53.8 in January, close to last September's two-and-a-half year high
Ireland and the UK remained at the top of the global services PMI activity growth league table in January, despite rates of expansion ticking lower in both nations. Higher activity in Germany and Ireland, meanwhile, offset contractions in France and Italy to take the current recovery in eurozone services into its sixth month. The US saw a solid expansion in output; growth was comparatively modest in Japan, while India and Brazil saw contractions.
The level of new business rose again in January, extending the current sequence of unbroken expansion to four-and-a-half years. Although the rate of increase in new orders eased to a three month low, the combination of rising demand and higher activity encouraged service providers to further increase employment.
Payroll numbers rose for the forty-seventh consecutive month, with the rate of jobs growth remaining above the average for this sequence. Increases were signalled for the US, Japan, Germany, the UK, Spain, India, Brazil and Ireland. Cuts were reported by France, Italy and Russia.
Firm's willingness to take on additional staff was also aided by their optimistic outlook for the service sector. Service providers expect business activity to be higher in one year's time than current levels, with the degree of optimism reaching a three-year record.
On the prices front, input cost inflation accelerated slightly in January, but remained below the long-run series average. Companies were able to pass on at least part of the cost increase as output charges rose for the seventh straight month.
Moody's: Strong mandate won't be game changer for Indian credit
However, a fragmented government without either a clear mandate or policy platform would heighten downside credit risks.
As indicated, Moody's does not believe that a strong showing by one of the major parties would, by itself, translate into an immediate improvement in India's economic growth and fiscal consolidation, which are key determinants of the country's overall credit quality.
"Firstly, growth trends over the past few decades show little direct correlation with election outcomes. Secondly, the influence of external conditions on Indian growth is under-appreciated, and developed country growth and global liquidity trends will be crucial determinants," says Rahul Ghosh, a Moody's Vice President and Senior Research Analyst.
Moreover, the increasing importance of regional parties will continue to hamper the efficacy of nationwide policymaking, regardless of the political complexion of the eventual central government.
"But, if a coalition of smaller, regional parties without a common economic reform agenda were to take the helm, it would likely provoke further capital flight, thereby increasing borrowing costs and weakening the Indian rupee, and delaying economic recovery," says Ghosh.
Moreover, consensus building on fiscal consolidation would prove more challenging in a fragmented government.
In addition, the Moody's report highlights that Indian corporates and financial institutions are more exposed than the sovereign to further economic weakness.
While Moody's Indian sovereign rating continues to receive support from the existing structure and ownership patterns of government debt, Indian corporates will remain much more vulnerable to prolonged macroeconomic weakness.
Moody's believes that such vulnerability is due to the aggressive run-up in corporate leverage and the greater exposure to external debt that has built up in recent years.
Indian banks, meanwhile, will feel the pinch of a weak corporate environment via deteriorating asset quality.
The report further notes that public-sector banks are more vulnerable than private-sector banks to the risk of a fragmented government leading to prolonged macroeconomic malaise, because of their greater exposure to lending to higher risk and poorer performing sectors. And they are on average more weakly capitalized than their private sector peers.
Of the corporates rated by Moody's, steel and mining companies -- such as Tata Steel (Ba3 negative) and Vedanta Resources (Ba1 negative) -- are particularly exposed to downside election risks, given their generally high leverage ratios and sensitivity to the policy environment.
Refiners -- such as Indian Oil Corporation Ltd (Baa3 stable) and Bharat Petroleum Corporation Limited (Baa3 stable) -- also face election-related uncertainty over the reimbursement of energy subsidies.
Ind-Ra: Fertiliser Sector Still Awaiting Policy Reforms
As GoI's subsidy allocations have been short of the actual obligations, a build-up of subsidy dues and a lag in their payments in the second half of every year is a regular trend. The delay in the subsidy distribution by GoI compels companies to fund the subsidy shortfall through borrowings, thus impacting their credit profiles.
The long-pending urea price hike is a possibility only after the scheduled elections in mid-2014. A marginal increase in urea prices over the past 10 years and a large subsidy budget have made urea price hike inevitable.
The GoI has already announced an increase in the output prices of domestic gas to almost USD8/mmbtu from USD4.2/mmbtu. However, there could be a subsidy on the input prices for the gas used to manufacture urea and other fertilisers. The gas price hike and the government's intervention on gas prices for the fertiliser industry will determine the total subsidy, fertiliser prices and the credit profile of fertiliser companies in FY15.
The GoI's new investment policy for debottlenecking brownfield and greenfield urea projects has not picked up due to concerns on urea off-take, high prices of gas and delayed subsidy. The next urea capex cycle in the industry to bridge the existing 8mmt-10mmt shortfall in domestic supply will be taken up once clarity emerges on these policies.
What Could Change the Outlook
Weakening of government support: The outlook on the fertiliser industry could be revised to negative if the GoI's subsidy support declines due to pressures to reduce fiscal deficit and an increase in subsidy burden. This could, however, be balanced by urea price hike and policy reforms.
Large capex: Huge debt-funded capex programmes affecting the credit profile of fertiliser companies could lead to their Outlook being revised to Negative, especially for entities with moderate-to-low rating headroom.
Trade deficit narrows to $9913.57 million in January 2014
With the sharp contraction in imports, the trade deficit narrowed to $9913.57 million in January 2014.
After four sequential months of double digit growth exports growth eased to 3.49% in December and but rose slightly to 3.79% in January 2014 (y-o-y basis). Imports continued to dip for eighth straight month at 18.07% (y-o-y basis) in January 2014 with the dip in both oil and non-oil imports.
Oil imports during January 2014 were valued at $13185.9 million which was 10.1% lower than oil imports valued at $14666.2 million in the corresponding period last year. Oil imports during April-January 2013-14 were valued at $138144.0 million which was 1.2% higher than the oil imports of $136498.1 million in the corresponding period last year.
Non-oil imports during January 2014 were estimated at $23480.0 million which was 22.0% lower than non-oil imports of $30088.5 million in January 2013. Non-oil imports during April-January 2013-14 were valued at $238900.1 million which was 12.3% lower than the level of such imports valued at $272498.9 million in April-January 2012-13.
Exports during January 2014 were valued at $26752.36 million (Rs.166067.93 crore) which was 3.79% higher in Dollar terms (18.62% higher in Rupee terms) than the level of $25775.19 million (Rs. 140002.59 crore) during January 2013. Cumulative value of exports for the period April-January 2013 -14 was $257088.08 million (Rs 1552564.25 crore) as against US $ 243190.48 million (Rs 1324751.53 crore) registering a growth of 5.71% in Dollar terms and growth of 17.20% in Rupee terms over the same period last year.
Imports during January 2014 were valued at $36665.93 million (Rs.227607.45 crore) representing a negative growth of 18.07% in Dollar terms and a negative growth of 6.37% in Rupee terms over the level of imports valued at US $ 44754.68 million (Rs. 243093.11 crore) in January 2013. Cumulative value of imports for the period April-January 2013-14 was $377044.14 million (Rs. 2264175.77 crore) as against $408996.91 million (Rs.2227033.70 crore) registering a negative growth of 7.81% in Dollar terms and growth of 1.67% in Rupee terms over the same period last year.
JPMorgan Global All-Industry Output Index at 53.9 in January
The combined output of the world manufacturing and service sectors has now risen for 16 successive months. Manufacturing continued to lead the upturn, with January seeing the pace of expansion in manufacturing production outpace that for services business activity for the fourth straight month.
Disparities between developed and emerging markets remained evident in January. The UK registered the highest PMI All-Industry Output Index reading of all of the nations covered by the survey, despite seeing its rate of expansion slip to a seven-month low. Growth rates were also marked in the US, Japan and Ireland.
A resurgent German economy combined with solid expansion in Spain and signs of recovery in Italy took the eurozone average to a 31-month high, offsetting the continued weakness in France. In contrast, Brazil, Russia and India all saw output contract marginally at the start of 2014.
The level of incoming new business also expanded for a sixteenth month running in January. Despite easing to its weakest since last October, the rate of new order growth remained above the average for the current sequence of increase. Improved demand encouraged further job creation, with employment rising for a forty-seventh consecutive month. Job creation was signalled in the US, Japan, Germany, the UK, Spain, Brazil, India and Ireland.
Input prices increased again at the start of 2014, taking the length of the current sequence of rising costs to four-and-a-half years. Purchase price inflation eased at manufacturers, but accelerated at service providers.
Companies were able to pass part of the increase in costs on to clients in the form of higher selling prices. Output charges rose for the seventh straight month, with increases signaled by both manufacturers and service providers.
Rupee ends stronger
Friday, February 07, 2014
PFRDA proposes to allow partial withdrawal in NPS
Micro insurance sale norms: Sector uneasy with latest Irda proposals
Micro insurance products could soon be sold by local grocery stores, public call offices (PCOs), fuel outlets and ration shops in rural areas. However, insurance sector officials also believe this would hamper the need-based sale objective. The Insurance Regulatory and Development Authority (Irda) has brought out a revised set of proposals on micro insurance products. Regional rural banks, micro finance institutions, district cooperative banks, non-government organisations, self-help groups, urban cooperative banks, banking correspondents and individual owners of kirana stores, PCOs, fuel outlets and ration shops will be allowed to sell these.
“Getting agents to sell micro insurance products is a big challenge. Kirana shops and PCOs neither have the skills nor the expertise. This might do more damage than increasing the penetration,” said a senior executive in a life insurance company. Micro insurance refers to general or life insurance policies offering an assured sum of Rs 50,000 or less. The average size of this category is Rs 2,000-4,000 a policy. This is aimed at coverage for low-income households in rural areas. The regulator has proposed that all micro variable life insurance products shall have a lock-in period of five years from the date of inception of the policy. In this period, surrenders are not to be allowed but partial withdrawals may be permitted. Sector officials said for local personnel to distribute insurance, they will also need to undergo training.
Currently, insurance agents need to undergo mandatory training of 50 hours. Licensing rules by Irda stipulate agents have to undergo 50 hours’ training for a basic licence and 75 hours’ training for composite licence. Insurance agents also have to undergo a 25-hour practical training to renew their licence, valid for three years. Composite agents will have to undergo practical training of 50 hours for renewing their licence.
“Since agents undergo training and brokers have an eligibility criteria, the regulator should have similar criteria for shopkeepers and petrol pump owners selling insurance. Otherwise, there is no accountability for products sold,” said the chief executive of a private general insurer. Mis-selling is another concern. The chief distribution officer of a private life insurance company said mis-selling and other malpractices for sales was high and could be heightened by entry of newer intermediaries.
“Retail store operators and small store owners might not be able to explain the product features or even understand the product themselves, mainly because they are in a different segment of business. However, there could be cases where they might push products to earn the extra income/commission. That is where the danger lies,” a senior broking official explained. In 2012-13, there were 341,012 registered life insurance complaints as compared to 309,613 for 2011-12. According to Irda’s Consumer Affairs Annual Booklet, the number of non-life insurance complaints dropped in the period. There were 78,927 registered non-life complaints for 2012-13, compared to 93,155 in 2011-12.
Source: BS
ICICI Prudential Tax Plan Announces Dividend
Birla Sun Life Tax Relief '96 Announces Dividend
ICICI Prudential Tax Plan Announces Dividend
Sundaram Select Micro Cap – Series III Floats on
The objective of the Scheme would be to generate capital appreciation by investing predominantly in equity/ equity-related instruments of companies that can be termed as micro-caps.
The scheme offers dividend payout and growth option.
The scheme will invest upto 65%-100% in equity & equity related securities of companies of micro-caps with high risk profile. On other hand it would invest upto 35% in other equity with high risk profile and fixed income and money market securities with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge is not applicable for the scheme.
The scheme's performance will be benchmarked against S&P BSE Small Cap Index.
The fund managers of the scheme are S Krishnakumar (Equity) & Dwijendra Srivastava (Fixed – Income).
JM Arbitrage Advantage Fund announces change
ICICI Prudential Interval Fund VII-Annual Interval Plan B extends NFO period
HDFC FMP 372D January 2013 (3) Announces Dividend
HDFC Rajiv Gandhi Equity Savings Scheme – Series 2 Floats On
The investment objective of the Scheme is to generate long term capital appreciation from a portfolio of Eligible Securities as specified in Rajiv Gandhi Equity Savings Scheme.
The plan shall offer two options – growth and dividend payout option. The plan would invest 95% to 100% of assets in equity securities specified as eligible securities for RGSS with medium to high risk profile and invest upto 5% in money market instruments & liquid schemes with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the plan during the NFO period.
Entry and exit load charge will be nil for the plan.
Benchmark Index for the plan is S&P BSE 100 Index.
The fund managers of the scheme are Srinivas Rao Ravuri & Prashant Jain.
UTI MF Launches UTI – FTIF – Series XVII – XII (1148 Days)
The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.
The scheme offers growth option, quarterly dividend option with payout and reinvestment facility, flexi dividend option with payout and reinvestment facility, annual dividend option with payout and reinvestment facility and maturity dividend option with payout facility.
The scheme will allocate 80%-100% of assets in debt instruments with low to medium risk profile and upto 20% of assets would be allocated to money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The scheme will be managed by Manish Joshi.
Birla Sun Life MF Announces Change In Maximum Amount
Revised Maximum Amount: Rs 50 lakhs per investor per day across all subscription transactions i.e. fresh purchase, additional purchases, switch-in and trigger transactions such as Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) and Recurring Savings Plan (RSP) trigger, as available under the schemes.
Reliance Invesco Mutual Fund Appoints Mr Abhishek Bandiwdekar As A Dealer – Fixed Income
HSBC Fixed Term Series 105 Floats On
The investment objective of the scheme would be to seek generation of returns by investing in a portfolio of fixed income instruments which mature on or before the maturity date of the scheme.
The scheme offers growth and dividend payout option.
The scheme would allocate 60% to 100% of assets in money market instruments and upto 40% of assets in debt instruments with low to medium risk profile.
The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge for the scheme will be nil.
Benchmark Index for the scheme is Crisil Short Term Bond Fund Index.
The fund manager for the scheme will be Ruchir Parekh.
ICICI Prudential Interval Fund II–Quarterly Interval Plan A Announces Dividend
The recommended rate of dividend (Rs per unit) on the face value of Rs 10 per unit will be: Direct Plan-Dividend: 0.2083
Regular Plan-Dividend: 0.2070
Direct Plan – Quarterly Dividend Payout: 0.2086
Retail Quarterly Dividend Payout: 0.2100
Regular Plan-Quarterly Dividend Payout: 0.2071
Retail Dividend: 0.2070 Retail Dividend: 0.2046
Motilal Oswal MOSt Focused Midcap 30 Fund Floats On
The investment objective of the scheme is to achieve long term capital appreciation by investing in a maximum of 30 quality mid-cap companies having long-term competitive advantages and potential for growth.
The scheme offers growth and dividend option (payout and re-investment) under both regular plan and direct plan.
The scheme would allocate 65% to 100% of assets in equity and equity related instruments selected between Top 101st and 200th listed companies by market capitalization, upto 25% in equity and equity related instruments beyond the Top 200th listed company and with market capitalization not lower than the smallest company in the CNX Midcap Index with high risk profile and upto 10% in debt, money market instruments, G-Sec, Bonds, Cash and Cash equivalents etc. with low risk profile.
The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load charge will be Nil for the scheme.
Exit Load: If redeemed / swithched-out on of before 1 year from the date of allotment, the exit load charge will be 2%.
If redeemed / swithched-out after 1 year from the date of allotment, the exit load charge will be Nil.
The entire exit load (net of service tax) charged, if any, shall be credited to the scheme.
Benchmark Index for the scheme is CNX Midcap Index.
The fund managers for the scheme are Taher Badshah (Equity component) and Abhiroop Mukherjee (Debt component).
Increasing Monthly Pension Paid to Senior Citizens under IGNOAPS
A Task Force has been constituted under the Chairmanship of Member Planning Commission to prepare a proposal for a Comprehensive National Social Assistance Programme. The Task Force has considered various issues, demands and suggestions relating to pensions, including old age pension, received from various quarters and has submitted its report inter alia, recommending expanding the scope of coverage and increasing the quantum of pension.
RBI announces Cancellation of Deferred Auction of Dated Securities and Switching of G-Sec
Moody's: Asian Liquidity Stress Index Continues to Rise in January
"The index measures the percentage of high-yield companies with an SGL-4 score and increases when speculative-grade liquidity appears to decrease. The reading decreased gradually during 2013 after hitting a recent high of 28.6% in December 2012," says Laura Acres, a Moody's Senior Vice President.
"The January increase reflects both the net addition of three companies (to 26) to the roster of those with our lowest (weakest) speculative-grade liquidity score (SGL-4) and a net increase of one (to 116) in the number of companies with speculative-grade ratings," adds Acres.
Acres was speaking on the release of Moody's latest report on the index, entitled "Asian Liquidity Stress Index."
The reading remains well below the record high of 37% reached during the fourth quarter of 2008 amid the global financial crisis and is just above the long-term rolling average (20%) and in line with the trailing 12 month average (22.5%) for the Asian LSI.
The liquidity sub-index for Chinese speculative-grade companies rose for a third consecutive month, jumping to 27.0% from 22.2% in December. The increase reflects the addition of three companies with SGL-4 scores while the number of rated high-yield Chinese companies remained 63.
China's high-yield property index rose to 23.7% from 21.1% in December as the number of companies with an SGL-4 score increased by one to 9 and the number of rated high-yield property developers remained 38.
The Indonesian sub-index inched up to 4.0% from 3.8%, ending three months with no change. The number of SGL-4 companies was unchanged at one, but the number of speculative-grade Indonesian companies decreased by one to 25.
The Australian index, which doesn't factor into the Asian LSI, declined for a second month, to 26.7% from 28.6% in December, as the number of speculative-grade companies rose by one to 15 and the number of those with an SGL-4 score remained four.
Moody's had assigned speculative-grade ratings to 116 issuers in Asia (excluding Japan and Australia) covering $65.1 billion of rated debt by the end of January, up from 115 issuers and $61.7 billion of rated debt by the end of December.
Blog Archive
-
▼
2014
(1881)
-
▼
February
(46)
- Why is deflation more dreaded than inflation?
- DSP BlackRock Dynamic Asset Allocation Fund collec...
- SEBI gives AMFI the nod to set up distributor SRO
- General insurers witness a 13 percent growth in ne...
- Five things to know about National Savings Certifi...
- DWS Cash Opportunities Fund Announces bonus units
- Franklin India Smaller Companies Fund announces di...
- IDBI Mutual Fund launches IDBI Debt Opportunities ...
- DSP BlackRock MF Announces Dividend Under DSP Blac...
- UTI MF Launches UTI-FTIF-Series XVII – XIII (369 D...
- Taurus Mutual Fund announces change of compliance ...
- HDFC FMP 370D February 2014 (1) Extends NFO closin...
- ING Mutual Fund announces change in key personnel
- Birla Sun Life Fixed Term Plan – Series KC (368 Da...
- Mirae Asset Fixed Maturity Plan – Series I (368 Da...
- Indian Railways Carry 866.14 Million Tonnes of Fre...
- Moody's: QE Tapering having greater impact on emer...
- Global Services PMI at 53.8 in January, close to l...
- Moody's: Strong mandate won't be game changer for ...
- Ind-Ra: Fertiliser Sector Still Awaiting Policy Re...
- Trade deficit narrows to $9913.57 million in Janua...
- JPMorgan Global All-Industry Output Index at 53.9 ...
- Rupee ends stronger
- PFRDA proposes to allow partial withdrawal in NPS
- Micro insurance sale norms: Sector uneasy with lat...
- ICICI Prudential Tax Plan Announces Dividend
- Birla Sun Life Tax Relief '96 Announces Dividend
- ICICI Prudential Tax Plan Announces Dividend
- Sundaram Select Micro Cap – Series III Floats on
- JM Arbitrage Advantage Fund announces change
- ICICI Prudential Interval Fund VII-Annual Interval...
- HDFC FMP 372D January 2013 (3) Announces Dividend
- HDFC Rajiv Gandhi Equity Savings Scheme – Series 2...
- UTI MF Launches UTI – FTIF – Series XVII – XII (11...
- Birla Sun Life MF Announces Change In Maximum Amount
- Reliance Invesco Mutual Fund Appoints Mr Abhishek ...
- HSBC Fixed Term Series 105 Floats On
- ICICI Prudential Interval Fund II–Quarterly Interv...
- Motilal Oswal MOSt Focused Midcap 30 Fund Floats On
- Increasing Monthly Pension Paid to Senior Citizens...
- RBI announces Cancellation of Deferred Auction of ...
- Moody's: Asian Liquidity Stress Index Continues to...
- Ind-Ra: Health Care Sector's Earning Drivers Leadi...
- Rupee closes stronger
- Strong rally at Wall Street
- Asia Pacific Market: Stocks shine amid US recovery...
-
▼
February
(46)
____________________________________________________________________________________________
Disclaimer - All investments in Mutual Funds and securities are subject to market risks and uncertainty of dividend distributions and the NAV of schemes may go up or down depending upon factors and forces affecting securities markets generally. The past performance of the schemes is not necessarily indicative of the future performance and may not necessarily provide a basis for comparison with other investments. Investors are advised to go through the respective offer documents before making any investment decisions. Prospective client(s) are advised to go through all comparable products in offer before taking any investment decisions. Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the fund will be achieved. Information gathered & material used in this document is believed to be from reliable sources. Decisions based on the information provided on this newsletter/document are for your own account and risk.
In the preparation of the material contained in this document, Varun Vaid has used information that is publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the Varun Vaid and which may have been made available to Varun Vaid. Information gathered & material used in this document is believed to be from reliable sources. Varun Vaid however does not warrant the accuracy, reasonableness and/or completeness of any information. For data reference to any third party in this material no such party will assume any liability for the same. Varun Vaid does not in any way through this material solicit any offer for purchase, sale or any financial transaction/commodities/products of any financial instrument dealt in this material. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice.
Varun Vaid, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. All recipients of this material should before dealing and/or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. Any person subscribing to or investigating in any product/financial instruments should do soon the basis of and after verifying the terms attached to such product/financial instrument. Financial products and instruments are subject to market risks and yields may fluctuate depending on various factors affecting capital/debt markets. Please note that past performance of the financial products and instruments does not necessarily indicate the future prospects and performance there of. Such past performance may or may not be sustained in future. Varun Vaid, including persons involved in the preparation or issuance of this material may; (a) from time to time, have long or short positions in, and buy or sell the securities mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation in the financial instruments/products/commodities discussed here in or act as advisor or lender / borrower in respect of such securities/financial instruments/products/commodities or have other potential conflict of interest with respect to any recommendation and related information and opinions. The said person may have acted upon and/or in a manner contradictory with the information contained here. No part of this material may be duplicated in whole or in part in any form and or redistributed without the prior written consent of Varun Vaid. This material is strictly confidential to the recipient and should not be reproduced or disseminated to anyone else.
Varun Vaid also does not take any responsibility for the contents of the advertisements published. Readers are advised to verify the contents on their own before acting there upon.