Baroda Pioneer Dynamic Bond Fund will invest entirely in fixed income instruments across various maturity profiles while Quantum's Multi-Asset Fund will invest in diversified asset classes like equity, gold and debt
Mumbai: Private mutual fund houses Baroda Pioneer and Quantum Mutual Fund on Friday launched two new schemes, reports PTI.
Baroda Pioneer Asset Management Co has launched a fixed income scheme, Baroda Pioneer Dynamic Bond Fund. It will invest entirely in fixed income instruments across various maturity profiles.
"The fund aims to generate returns in the form of interest income and capital gains, by managing the portfolio dynamically through interest rate cycles," the company said.
Quantum's Multi-Asset Fund, an open-ended fund-of-fund, will invest in diversified asset classes like equity, gold and debt, a company release said.
"The NFO will generate moderate capital appreciation while trying to reduce risk by diversifying risk across asset classes from a combined portfolio of equity, debt or money and gold schemes of Quantum MF," the fund house said.
The NFO, which opened on 22nd June will close on 5th July and will reopen for subscription from 16th July.
According to the company, Multi Asset Fund will invest in Quantum Long-term Equity Fund, Index Fund, Liquid Fund and Gold ETF Fund in different denominations.
The life insurance plan provides relatively lower premium rates for women and special rates for non-tobacco users, Reliance Life said in a statement
New Delhi: Reliance Life Insurance said it has launched an online plan -- Reliance Life Insurance eTerm -- with a maximum life cover of Rs1 crore for policyholders in the age bracket of 18-60 years, which will simplify the process of buying an insurance cover, reports PTI.
The plan provides relatively lower premium rates for women and special rates for non-tobacco users, Reliance Life said in a statement.
Apart from tax benefits, the plan also has a free look period of 15 days from the date of receipt of policy bond to continue or return the policy.
The online plan would offer a life cover of Rs1 crore and also provides accidental death benefit up to Rs50 lakh, it said.
“Our new offering simplifies the process of purchasing an insurance cover and empowers customers to take an informed decision,” Reliance Life Insurance president and executive director Malay Ghosh said.
The product would have a minimum annual premium of Rs3,500 and provides a minimum cover of Rs25 lakh with no upper limit and a policy term of 10-30 years.
It offers annual premium payment mode only with a grace period of 30 days from the due date for payment of regular premiums.
Besides, the company also plans to introduce more online products and tap digital insurance distribution channel in future.
“The digital platform is a growing distribution channel in the insurance market and still untapped in India. We see a great potential opportunity in the online space and would introduce a slew of insurance products in a couple of years,” Ghosh said.
Reliance Life Insurance has sold over one million policies in 2011-12. It has recorded a net profit of Rs373 crore for the fiscal ending 31 March 2012 and garnered a total premium of Rs5,498 crore.
To a question on deputy CM Ajit Pawar's comment expressing surprise how the Chief Minister's chambers survived the inferno, Chavan said his chambers are paperless and there was only one notepad on his table
Mumbai: Following Thursday's fire at Mantralaya, the state secretariat, reconstruction of documents in damaged files was the government's top priority, Maharashtra Chief Minister Prithviraj Chavan said on Friday, reports PTI.
Chavan told reporters that 2.25 lakh files had been digitalised and 3.18 crore papers had been scanned prior to the incident.
"Hard disks of damaged computers will be retrieved, for which assistance of NASCOM and IT experts, including foreign agencies, will be taken," Chavan added.
Referring to speculation that files related to Adarsh housing scam may have been damaged, Chavan, who also holds the Urban Development portfolio, said the papers were with CBI and the judicial commission.
"We have photocopies with us. Hence, the speculation that Adarsh probe will be hampered due to the fire is ruled out," the Chief Minister said. Files of Land Ceiling department too were safe, he said.
All the files at Mantralaya will be put in steel trunks and taken to a safe place, he said. Secretaries of respective departments had been entrusted the task of recovering the files, he added.
Entry to the building was prohibited and the access would be allowed only after a structural audit, the Chief Minister said.
"The annexe building is safe while the top three floors of the main building have been damaged. The annexe building would be cleared in two days. Even in the main building, the first three floors have been flooded with water though there is no damage due to the fire," he said.
Ministers had been asked to shift to their offices in the nearby legislature complex temporarily, Chavan said. "They can also function from the field offices of their respective departments."
All the ministers had been asked to remain in Mumbai during the weekend, Chavan said.
The Chief Minister appealed to the people to avoid rumour-mongering, describing the fire as "an accidental calamity". "No doubt, the government's functioning will be affected. But our endeavour will be to minimise the impact," he said.
To a question on his deputy Ajit Pawar's comment expressing surprise how the Chief Minister's chambers survived the inferno, Chavan said "my conference room and cabinet room have been damaged severely. The door between these two rooms and my chambers is strong, made of wood. Perhaps, it is the reason why the damage in the chambers was minimal. My chambers are paperless and there was only one notepad on my table."
Chavan said he would discuss the fire and the steps being taken by the government in its aftermath with the opposition leaders later in the day.