Deutsche Mutual Fund floats Fixed Term Fund-Series 85

Deutsche Mutual Fund new issue closes on 22nd June

Deutsche Mutual Fund has launched DWS Fixed Term Fund-Series 85 (DFTF-85), a close-ended income scheme.

The objective of the fund is to generate 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 The new issue closes on 22nd June. 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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Birla Sun Life MF unveils 180 days fixed maturity plan

Birla Sun Life Mutual Fund new issue opens on 16th June and closes on the same day

Birla Sun Life Mutual Fund has launched Short Term FMP-Series 17, a close ended income scheme.

The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The scheme will have duration of 180 days.

The new issue opens on 16th June and closes on the same day. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Kaustubh Gupta would be the fund manager.

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Tata AIG Life launches Gyan Kosh

Gyan Kosh offers two protection options to customers to ensure the protection of their financial goals—Security Net and Safety Net

Tata AIG Life Insurance has launched Tata AIG Life Insurance Gyan Kosh, a non-participating unit linked endowment insurance plan. The plan comes with in-built benefits to ensure financial protection of one's goals for children's education, important milestones of life like marriage, providing funds for setting up a business etc.

The plan offers two protection options to customers to ensure the protection of their financial goals-Security Net and Safety Net. Both these options have inbuilt waiver of premium benefit that waives all future premiums payable under the plan in case of death or total permanent disability of the insured.

In case of Safety Net a sum assured is paid to the nominee on death of the life assured, future premiums are waived and the policy benefits continue.

In case of Security Net, in addition to the sum assured getting paid to the nominee on death of the life assured and future premiums getting waived, the inbuilt "Family Income Benefit" also gets triggered. The "Family Income Benefit" pays a re-adjustment income of 1% of sum assured to the family for the next 100 months or end of the policy term, whichever is earlier, in case of death or total permanent disability of the insured.

Under both the options, the Total Fund Value is paid to the policyholder (in case of total permanent disability and survival till maturity) or the nominee (in case of death of life assured) on maturity.

Gyan Kosh offers the investor the opportunity to choose from a wide range of seven investment funds as per their risk profile. In addition, they can also benefit from Tata AIG Life's portfolio strategies-SMART (Systematic Money Allocation & Regular Transfer) to optimize ones returns due to rupee cost averaging or AAA (Automatic Asset Allocation) to benefit from age appropriate allocation of assets.

On survival to the end of the policy term Guaranteed Maturity Addition of 1.5% to 3% of Regular Premium Fund Value (depending on the policy term) is paid to augment the maturity corpus.

The policy can be purchased by an individual at any age ranging from 18 years to 50 years. Tax benefits are available as per Income Tax Act, 1961.

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