HDFC Mutual Fund unveils 100 days fixed maturity plan

HDFC Mutual Fund new issue closes on 3rd March

HDFC Mutual Fund has launched HDFC FMP 100D March 2011 (1), a close-ended income scheme.

The investment objective of the plans under the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenor of the scheme is 100 days from the day of allotment.

The new issue opens on 1st March and closes on 3rd March. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Bharat Pareek and Miten Lathia (for overseas investments) are the fund managers for the scheme.

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IDFC Mutual Fund floats Fixed Maturity Plan-Seventeen Months Series 3

IDFC Mutual Fund new issue closes on 7th March

IDFC Mutual Fund has launched IDFC Fixed Maturity Plan-Seventeen Months Series 3, a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme. The tenor of the scheme is 17 months.

The new issue opens closes on 7th March. The minimum investment amount is Rs10,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Anupam Joshi is the fund manager.

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Diesel price deregulation will depend on inflationary pressures, says revenue secretary

Govt to react to increasing fuel prices globally as the situation unfolds; official says difficult to tell how high prices will go

New Delhi: The government today said that a decision to free diesel prices from government control will depend on the inflation situation. "We had announced last year that a decision would be taken at an appropriate time to deregulate diesel, the government hasn't changed its decision... We have to see how the inflationary pressures go and take a decision," revenue secretary Sunil Mitra told journalists on the sidelines of an Assocham function.

On the rising crude prices globally, Mr Mitra said that the government would react as the situation unfolded. "It would have been inappropriate for us to take a stand (in the Union Budget) on how much petroleum is going to cost," he said.

Crude oil prices in the international market are ruling above $100 a barrel and with the crisis in Libya and some West Asian countries continuing, they may go up further, reports PTI.

Although food inflation declined from 20.2% in February 2010 to 9.3% in January 2011, it still remains a concern. Headline inflation in January at 8.23% is above the comfort level of around 5-6%.

Mr Mitra said it was impossible to assess the ramifications of the current crisis. "... It is impossible to say now where it is going to go, whether it will affect Saudi Arabia or Iraq and other sources from where we get oil. So this is something that we will have to react to as the situation unfolds," he explained. He said that if global crude prices increased, petrol prices would also increase, as it is deregulated.

Answering some questions on the Goods and Services Tax regime (GST), Mr Mitra said that as the Budget was over, he would talk to the Empowered Committee of State Finance Ministers to take the issue forward. "We have been tied up with the Budget, we will now sit down and work on that... We will have to discuss this, have a talk with the empowered committee and take a decision," he said.

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