MASTER MIND FINNASSET

Tuesday, December 04, 2012

IDBI Mutual Fund launches IDBI Gilt Fund

NFO Period from 5 December 2012 to 17 December 2012

Highlights:

• An open ended dedicated gilt scheme.

• Opportunity to invest in Gilt Papers with a low lumpsum investment of Rs 5,000/-

• Approved investment for exempt Provident Funds, Superannuation Funds, Gratuity Funds and under New Pension Scheme

• Fixed Tenor Trigger (FTT) Plan

• Easy Exit: 0.5% for exit (repurchase/switch-out/transfer) within 30 days from the date of allotment

• Minimum investment lumpsum: Rs.5000. SIP : Rs.500/- per month

• SIP, STP and SWP facilities available

• Benchmark – CRISIL Gilt Index.

• NFO Period: December 5, 2012 to December 17, 2012.

IDBI Mutual Fund today announced the launch of IDBI Gilt Fund, an open ended dedicated gilt scheme. The New Fund Offer (NFO) will open for subscription on December 5, 2012 and close on December 17, 2012. The units will be available at par (Rs.10/-) during the NFO and at NAV related prices thereafter. The scheme will re-open for continuous sale and repurchase from December 27, 2012.

The investment objective of the scheme is to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of central government securities, state government securities, treasury bills and similar other instruments.

The benchmark index for the fund is CRISIL Gilt Index.

Speaking on the occasion, Mr. Debasish Mallick, MD & Chief Executive Officer, IDBI Asset Management Ltd said “IDBI Gilt Fund is an approved instrument for investment by exempt Provident Funds, Superannuation Funds, Gratuity Funds and also under the New Pension Scheme. IDBI Gilt Fund will invest in Gilt securities which bear zero-credit risk and offer adequate liquidity. The Fund will dynamically manage duration of gilt securities so as to optimize returns, in the backdrop of present uncertainties. The launch of IDBI Gilt Fund is in line with our endeavor to offer products across the entire spectrum of investment options to suit all classes of investors and their diverse needs.”

Religare Fixed Maturity Plan - Series XVII - Plan A to F files offer document with Sebi

A close-ended debt scheme

Religare Mutual Fund has filed offer document with Sebi to launch Religare Fixed Maturity Plan - Series XVII - Plan A to F, a close-ended debt scheme. The New Fund Offer price is Rs 10 per unit. Religare Fixed Maturity Plan - Series XVII - Plan A to F offers plans of tenure from 1 month to 60 months from the date of allotment of the respective Plan(s) (including the date of allotment).

Investment objective: To generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.
Options: Religare Fixed Maturity Plan - Series XVII offers six plans viz. Plan A, B, C, D, E & F. Each of these Plans offers growth and dividend payout option. Each Fixed Maturity Plan will be managed as a separate portfolio.

Benchmark:

For Plans having maturity upto 3 months / 91 days: CRISIL Liquid Fund Index.

For Plans having maturity of more than 3 months / 91 days and upto 36 months: CRISIL Short-Term Bond Fund Index.

For Plans having maturity of more than 36 months: CRISIL Composite Bond Fund Index
Loads: Nil

Minimum Application Amount: Rs.5,000 per application and in multiples of Rs. 10 thereafter.

Minimum Target Amount: Rs. 20 Crores for each Fixed Maturity Plan.

Asset Allocation:

Plans under the Scheme having maturity upto 400 days from the date of allotment: The scheme shall invest upto 100% in debt instruments including money market instruments.
Plans under the Scheme having maturity more than 400 days and upto 1098 days / 3 years from the date of allotment: The scheme shall invest 60%-100% in debt instruments and up to 40% in money market instruments.

Plans under the Scheme having maturity more than 1098 days / 3 years and upto 1830 days / 5 years from the date of allotment: The scheme shall invest 80%-100% in debt instruments and up to 20% in money market instruments.

Fund Manager: Mr. Nitish Sikand

Bharti AXA Life launches an improved version of eProtect

Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and the world's largest insurance company - AXA, announced the launch of its improved online term insurance plan 'Bharti AXA Life eProtect'.

Announcing the launch, Sandeep Ghosh, CEO Bharti AXA Life Insurance, said "Online life insurance has shown tremendous growth potential in the last 12 months. We launched our online channel earlier this year with Bharti AXA Life eProtect and the customer response has been very encouraging. Within 6 months of launch, we are currently amongst the top five players in the online term market. We have incorporated customer feedback to our existing term product in the new version of the online product to ensure that it is truly a best in class product in the market".

Life cover for eProtect has now been increased to age 75 years. The maximum age of entry has been increased to 65 years as well. This is in line with the increased life expectancy in India. "We found that customers today are looking for insurance products that offer comprehensive protection, especially after retirement. An individual's responsibilities towards his family do not necessarily end with retirement. By increasing the tenure of eProtect, we are providing a longer coverage at extremely affordable premiums, making the new version one of the most competitive products in the markets", Sandeep Ghosh added.

Bharti AXA Life eProtect also provides a unique and industry first service guarantee – "Family Care benefit" that ensures a release of Rs.100,000 during times of distress within 48 hours of claim intimation. To ensure that existing customers do not lose out on this opportunity, Bharti AXA Life will offer the current customers of eProtect an option to upgrade to the new version at a nominal cost.

Bharti AXA Life eProtect is an easy to buy product available exclusively online at http://buyonline.bharti-axalife.com.

HDFC Life launches 2 unit-linked pension plans

First private life insurer to launch pension plans based on new guidelines by IRDA

HDFC Life, one of India's leading life insurance companies, has announced the launch of two pension plans. HDFC Life Pension Super Plus is a regular premium unit linked plan whereas HDFC Life Single Premium Pension Super is a single premium unit linked plan.

Speaking at the launch, Amitabh Chaudhry, MD & CEO, HDFC Life said, "It gives me great pleasure to announce that we are the first private life insurance company to bring back pension plans to customers under the new regulatory regime. Saving for retirement has been an important part of financial planning, which most of us tend to neglect or postpone."

HDFC Life Value Notes Life Freedom Index, a survey conducted earlier this year to understand the current state of financial planning in urban India, revealed that consumers are skeptical about the adequacy of their financial plans to meet their desired standard of living throughout their lifetime. In fact, only 13% of youth and women are extremely confident that they have adequate retirement planning in place. Though the Wisdom investor segment (45 years and above) scored better in the level of confidence, their percentage stood at only 24%. This reflects that planning for retirement among all customer segments needs significant improvement.

"HDFC Life Single Premium Pension Super and HDFC Life Pension Super Plus are designed to build a sizeable corpus for post retirement income and offer assured vesting value with minimum guarantee benefits," Amitabh added. Both the plans offer assured benefit on death and vesting. HDFC Life Pension Super Plus offers assured death benefit of total premiums paid to date accumulated at a guaranteed rate of 6% per annum and an assured vesting benefit of 101% of total premiums paid. HDFC Life Single Premium Pension Super offers assured benefit of 101% of total premiums paid on death and vesting.

HDFC Life has also launched a traditional annuity plan, HDFC Life New Immediate Annuity Plan. As per IRDA's new guideline, customers need to purchase immediate annuity from the proceeds of the Pension Plan from the same company.

PC Jeweller IPO opens on 10 December 2012

IPO price band of Rs 125 to Rs 135 per share

The initial public offer (IPO) of PC Jeweller will open for subscription on 10 December 2012. The issue closes on 12 December 2012. The company is selling about 4.51 crore equity shares of face value Rs 10 each with a price band of Rs 125 to Rs 135 per share. The IPO will constitute 25% of the post issue paid-up equity share capital of the company.

The company's operations include the manufacture, retail and export of jewellery. The net proceeds from the issue will be utilized to finance establishment of new showrooms; and for general corporate purposes.

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