ICICI Pru Mutual Fund new issue closes on 13th June
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 57-1 Year Plan B, a close-ended income scheme.
The investment objective of the Plan under the Scheme is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme.
The new issue closes on 13th June. The minimum investment amount is Rs5,000.
Kapil Punjabi will be the fund manager for the scheme. CRISIL Liquid Fund Index is the benchmark index.
Alibaba.com is eyeing a 50% rise in number of registered SMEs from India to three million by FY12 end
With China fast losing its edge as a sourcing hub, global e-commerce major Alibaba.com is eyeing a 50% rise in number of registered SMEs from India to three million by FY12 end, a senior official said.
"China is losing its lustre and many buyers are increasingly opting for other markets...we expect growth from India to continue to be 50% which will take us to 3 million accounts by March-end," the company's country general manager Sandeep Deshpande told PTI.
He listed appreciation of the Chinese Renminbi versus the US dollar, rising labour costs and increasing instances of tax subsidies to special economic zones being taken off as the disadvantages affecting China currently.
IDBI Mutual Fund new issue closes on 10th June
IDBI Mutual Fund has launched IDBI Fixed Maturity Plan-367 Days Series I (June 2011)–E, a close-ended income scheme.
The investment objective for each plan(s) under the scheme will be to generate regular income through investments in debt and money market instruments.
The new issue closes on 10th June. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Gautam Kaul is the fund manager.