DSP BlackRock MF unveils FMP–3M–Series 38

DSP BlackRock Mutual Fund new issue closes on 14th June

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-3M-Series 38, a close-ended income scheme.

The investment objective of the schemes is to seek 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 schemes. The schemes may also use fixed income derivatives for hedging and portfolio balancing.

The new issue closes on 14th June. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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DSP BlackRock MF floats FMP–12M–Series 22

DSP BlackRock Mutual Fund new issue closes on 14th June

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-12M-Series 22, a close-ended income scheme.

The investment objective of the schemes is to seek 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 schemes.

The new issue closes on 14th June. The minimum investment amount is Rs5,000.

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

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BBVA gets FII licence to invest in Indian bond market

This licence will help BBVA to invest in the on-shore bond market in India

The Indian regulator SEBI (Securities and Exchange Board of India) has granted the certificate of registration, permitting BBVA to access the Indian on-shore bond market.

This marks BBVA's second undertaking in the Indian financial market and is consistent with the bank's strategy of entering emerging markets. India has a robust securities market and the current Indian regulation allows foreign institutional investor (FII) licence holders to invest in the Indian debt market up to $10 billion in government securities, $15 billion in corporate bonds and $25 billion in long term corporate bonds for infrastructure development.

Gonzalo Toraño, managing director and head of BBVA Asia, said, "We are delighted to receive this FII licence from the Indian capital market regulator, the SEBI. This licence will enable us to access this rapidly growing market, and to apply our global expertise to invest in the Indian bond market."

Jeffrey Chu, managing director, said "We have a fully fledged global markets business in Hong Kong, which actively trades most Asian currencies and interest-rate products. This FII license will allow BBVA access to the Indian on-shore bond market for the first time, adding an important market to BBVA's fixed-income securities product offering."

Following the receipt of the FII licence, BBVA intends to increase its exposure to the Indian financial market by bringing in its emerging market experience in risk management and investment expertise BBVA has maintained a representative office in India since 2007 and in December 2010 it signed a MOU with Bank of Baroda to acquire a 51% stake in the bank's credit card business, BOB Cards. Through the joint venture, BOB Cards aims to become a top credit card player issuing more than 5 million cards in the coming years.

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