DSP BlackRock MF launches 12 months fixed maturity plan

DSP BlackRock FMP-Series 14-12M closes 10th October.

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-Series 14-12M, a close-ended income scheme.

The investment objective of the scheme is to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme. The tenure of the scheme is 12 months.

The new issue closes on 10 October 2011. The minimum investment amount is Rs5,000 and in multiples of Re1 thereafter.

CRISIL Short Term Bond Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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Birla Sun Life MF launches Birla Sun Life Fixed Term Plan-Series DQ

Birla Sun Life Fixed Term Plan—Series DQ closes 11th October

Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series DQ, a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The tenure of the scheme is 370 days.

The new issue closes on 11 October 2011. The minimum investment amount is Rs5,000 and in multiples of Rs10 thereafter.

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

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Factory output posts slowest growth in two and half years

Commenting on the data, Leif Eskesen, chief economist for India & ASEAN at HSBC said:"The growth momentum in India's manufacturing sector eased further in September. This was driven by weaker orders, with export orders still contracting due to the weaker global economic conditions"

The factory growth, as measured by the HSBC Purchase Managers' Index (PMI), was recorded at 50.4 in September, down from of 52.6 in the previous month. The latest reading was the weakest in the current two-and-a-half year sequence of growth.

The HSBC India Manufacturing PMI is based on data compiled from replies to questionnaires sent to purchasing executives in over 500 manufacturing companies.

While Indian manufacturers have recorded a modest rise in new business received in September, the rate of new order growth slowed for a sixth successive month.

New orders from export markets fell in September, continuing the trend seen since July. While the rate of contraction eased slightly since August, it remained solid. The reduction in new export orders suggested that domestic demand provided the principal support to overall new business growth. In line with the weaker increase in new orders, a slower rise in output was also recorded (the weakest in two-and-a-half years).

Although weaker trends in production and new orders had impacted negatively on requirements for staff, there were also some reports that unfulfilled wage requests from employees had led to resignations.

Input costs faced by Indian manufacturers rose substantially during September, reflective of higher raw material costs. The rate of input price inflation slowed since August to an 11-month low, but remained strong in the context of historical data. Charges increased at a marked rate that was broadly unchanged from the previous month.

Commenting on the data, Leif Eskesen, chief economist for India & ASEAN at HSBC said:"The growth momentum in India's manufacturing sector eased further in September. This was driven by weaker orders, with export orders still contracting due to the weaker global economic conditions.

"While the persistent inflation pressures support the RBI's (Reserve Bank of India) tightening bias, the slowdown in manufacturing growth suggests that the end to the tightening cycle is at least now in sight."

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