Baroda Pioneer MF new issue closes on 19th September
Baroda Pioneer Mutual Fund has launched Baroda Pioneer 90 Day Fixed Maturity Plan-Series 4, a close-ended income scheme.
The investment objective of the scheme is to generate regular returns by investing in a portfolio comprising of debt instruments and money market instruments maturing on or before the maturity of the scheme.
The new issue closes on 19th September. The minimum investment amount is Rs5,000.
Birla Sun Life MF new issue will close on 29 September 2011
Birla Sun Life Asset Management Company Ltd (BSLAMC) has launched Capital Protection Oriented Fund Series 7, an alternative to the traditional investment options like traditional deposits. This is a 36 month close-ended scheme which offers protection to the invested money by investing into high quality bonds (debt) till the end of tenure and exploring capital growth prospect by investing a part of the capital for equity market exposure.
A Balasubramanian, CEO, BSLAMC, said,“ The company intends to provide a platform which aims to help investors protect their capital and at the same time allows them an opportunity to invest a small portion of their capital for equity market exposure,” he said.
This product is designed to keep the investors’ money safe. At the same time it allows the investor an opportunity to take a small exposure to equity market through investing in premium of exchange traded index options. The returns of such funds are also more tax – efficient as compared to traditional deposit.
BSL CPOF Series 7, has been rated CARE AAAmfs (so) by CARE. The fund offers growth option only with minimum application amount of Rs5,000 and multiples of Rs 10 thereafter during the new fund offer period. The new issue will close on 29 September 2011.
The fund is benchmarked against CRISIL Balanced Fund Index and shall be managed by Satyabrata Mohanty and Ajay Garg.
Government tries to distance itself from hike as Trinamool demands rollback and CPI(M) describes it as a callous step
New Delhi: Responding to the resentment expressed over the yesterday’s hike in petrol prices, the government today distanced itself from the decision, saying the call was taken by oil marketing firms.
"So far as petrol prices is concerned, petrol has been deregulated. It is oil marketing companies' review," union finance minister Pranab Mukherjee said when asked about the Rs3.14 per litre hike announced by the oil companies last evening.
Mr Mukherjee was talking to journalists after a function this morning in the national capital to launch the book “Land of Two Rivers”, by Nitish Sengupta.
On Thursday, state-owned oil companies hiked petrol prices, explaining that depreciation of the rupee had increased the cost of crude oil imports. This is the second major hike in four months. In May, the price of petrol was increased by Rs5 a litre, PTI reports.
UPA ally Trinamool Congress has already demanded a rollback of the petrol price hike, whereas the CPI(M) said it was a "callous" decision and it demanded restoration of the administrative regulation of petrol pricing. The CPI(M) said the petrol price hike would have a cascading effect on price rise.
The RBI in its monetary policy review today said the petrol price hike would push WPI inflation up by seven basis points and would have a cascading effect.
Petrol prices were freed from government control in June last year.