Deutsche Mutual Fund floats Fixed Term Fund-Series 80

Deutsche Mutual Fund new issue closes on 25th April

Deutsche Mutual Fund has launched DWS Fixed Term Fund-Series 80 (DFTF-80), a close-ended income scheme.

The objective of the fund is to generate regular income by investing in debt and money market instruments maturing on or before the date of the maturity of the scheme. The tenor of the scheme is 370 days.

The new issue closes on 25th April. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Index is the benchmark index. Kumaresh Ramkrishnan is the fund manager.

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Future Generali launches Wealth Protect

Future Generali India Life Insurance has launched a flexible unit linked insurance plan that offers protection as well as the opportunity to create wealth

Future Generali India Life Insurance Company said that it has launched a flexible unit linked insurance plan that offers protection as well as the opportunity to create wealth.

"Wealth Protect has been designed from the very start with a singular objective-to provide maximum flexibility and protection to customers seeking long term wealth creation," Future Generali India Life Insurance Company MD and CEO, Deepak Sood, said in a statement issued.

The product is available for customers between 7-60 years and the premiums can be paid on a monthly, quarterly, half yearly or yearly basis, with a minimum annualised premium of Rs25,000 and a maximum of Rs2 lakh.

The premium paid in Future Generali Wealth Protect gets allocated to a fund of one's choice, thereby, providing flexibility in directing investments to any one or more out of the six unit-linked funds of the company.

The policy holders can also choose to manage their investments actively, by making up to 12 free fund switches per year.

Future Generali India Life Insurance Company is a joint venture between Future Group of India and Generali Group of Italy.
 

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Edelweiss Tokio Life Insurance gets R2 approval from IRDA

Edelweiss Tokio Life Insurance has received the second stage R2 approval from IRDA to operate in the life insurance space

Edelweiss Tokio Life Insurance Company has received the second stage R2 approval from the Insurance Regulatory & Development Authority (IRDA) to operate in the life insurance space.

Edelweiss Tokio Life Insurance is a joint venture between the Edelweiss Group, India's leading diversified financial services conglomerate and Tokio Marine, one of the world's largest insurance group based in Japan. "We have secured the R2 approval from the regulator and now keenly await the certificate of registration (R3).Thereafter, we plan to launch insurance products that will cater to the long term savings and protection needs of the Indian consumers," Edelweiss Tokio Life insurance director, Deepak Mittal said in a statement.

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