BNP Paribas Mutual Fund’s new issue closes on 7th February
BNP Paribas Mutual Fund has launched BNP Paribas Fixed Term Fund-Series 20 C, a close-ended income scheme.
The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of fixed income securities maturing on or before the maturity of the scheme. The tenor of the scheme is 15 months.
The new issue opens on 31st January and closes on 7th February. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Alok Singh is the fund manager.
Axis Mutual Fund’s new issue closes on 14th February
Axis Mutual Fund has launched Axis Midcap Fund, an open-ended growth scheme.
The investment objective of the scheme is to achieve long term capital appreciation by investing predominantly in equity & equity related instruments of mid size companies. The focus of the fund would be to invest in relatively larger companies within this category.
The new issue opens on 31st January and closes on 14th February. The minimum investment amount is Rs5,000.
BSE Midcap Index is the benchmark index. Pankaj Murarka is the fund manager.
A major thrust of ADB's India Country Operations Business Plan for 2011-2013 will be to support infrastructure development, particularly through public-private partnership (PPP) programs
New Delhi: The Asian Development Bank (ADB) will extend $7.4 billion assistance to India for developing the country's infrastructure for a period of three years from 2011-13. The development follows signing of an agreement earlier this month for $1.5 billion funding from the World Bank to supplement the Pradhan Mantri Gram Sadak Yojana (PMGSY) or the Prime Ministers Rural Roads Program.
"ADB and the government of India have agreed on a new three-year business plan that will provide lending assistance of $7.4 billion to support inclusive and environmentally sustainable growth in the country," reports PTI quoting the multilateral lending agency.
A major thrust of ADB's India Country Operations Business Plan (COBP) for 2011-2013 will be to support infrastructure development, particularly through public-private partnership (PPP) programs, the statement added.
Continued assistance for development of the vital energy sector by means of projects involving clean and renewable energy sources, including solar power is another key focus area, ADB said.
"ADB is pleased to note that approval of the India COBP comes against the backdrop of record performance by ADB in terms of both program delivery and portfolio performance in 2010," ADB country director (India) Hun Kim said.
In 2010 ADB approved loans amounting to $2.2 billion while its annual disbursement reached a record level of $1.7 billion.
"We very much look forward to continue to work closely with the government of India in implementing the projects in the COBP to help promote inclusive growth and reduce poverty in the country," Mr Kim said.
In order to help bridge inter-state economic disparities, the bank will continue with its projects in transport, energy and urban sectors in states like Assam, Bihar, Chhattisgarh, Himachal Pradesh, Madhya Pradesh, and Rajasthan, the Manila-based lender said.
ADB is a multilateral financial institution that promotes social and economic progress in the Asia-Pacific region.
The agency would also continue to provide assistance for the critical national Rural Roads Development Program in Assam, Chhattisgarh, Madhya Pradesh, Orissa, and West Bengal and for public resource management in Assam and Mizoram, it added.