DSP BlackRock Mutual Fund new issue closes on 7th March
DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-12M-Series 15, a close-ended income scheme.
The primary 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 tenor of the scheme is 15 months.
The new issue closes on 7th March. The minimum investment amount is Rs10,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Dhawal Dalal is the fund manager of the scheme.
Kotak Mahindra new issue closes on 18th March
Kotak Mahindra Asset Management Company has launched its latest fund-of-fund named 'Kotak Gold Fund'. This open-ended fund will enable investors to take exposure to gold without having a demat account. In addition to this Kotak AMC will offer investors the option to invest Rs1.000 per month through the SIP route.
The Kotak Gold Fund closes on 18th March and its performance will be benchmarked against the prices of physical gold.
Sandesh Kirkire chief executive officer, Kotak Mahindra Asset Management Company said, "We see a lot of potential with Kotak Gold Fund primarily because of two significant factors. One by providing a platform to investors to invest in gold without a demat account and also create a discipline by systematically investing in Gold as an asset class." Mr Kirkire elaborated, ' In recent times, gold has shown a low correlation with other asset classes while at the same time its returns potential has been similar to equity assets performance. As a result allocation into gold improves portfolio diversification and can minimise the downside risk of the portfolio.'
The fund attracts the benefit of long term capital gains tax after one year of investment. This is in contrast to physical gold where you have to pay short term capital gains tax for a period upto three years. Also the returns of this fund do not attract any wealth tax, which is not the case with physical gold.
BSLI Foresight Plan is a medium-term unit linked savings plan apt for a volatile market providing the perfect blend of guarantee, flexibility and liquidity options
Birla Sun Life Insurance, a subsidiary of Aditya Birla Nuvo, has launched BSLI Foresight Plan, a cutting-edge solution that provides customers the upside of market returns while completely shielding their investments from downside risks. This medium-term unit linked savings plan is apt for a volatile market providing the perfect blend of guarantee, flexibility and liquidity options.
Fabien Jeudy, chief actuarial officer, Birla Sun Life Insurance said, "Equity markets have a huge potential towards meeting customer's long-term wealth creation needs. However, many customers tend to stay away from this attractive opportunity due to the lack of knowledge on timing the market and the resultant fear of loosing their money. This behavior brings forth the need for a product offering that can eliminate this fear and give customers the confidence of not just optimizing investments when the markets are low but also locking the gains, when the markets are at a high."
He further adds "Keeping this unfelt customer need in mind, we have designed BSLI Foresight Plan, an innovative investment avenue that addresses this requirement. We are positive that this product will induce many more customers to take their first step towards participating in the equity markets, help them protect their investment downside and lock their gains."
BSLI Foresight Plan provides upside of market related returns while shielding investments from downside risks. The plan offers full freedom to switch from one fund to another-from amongst 10 investment funds under self-managed option. It also offers options-such as increase protection by choosing higher sum assured multiple, option to pay all five years premium in advance, tax benefits under Sections 80C and 10(10D) of the Income Tax Act,1961 and opportunity to invest in New Generation Foresight Fund.