IDFC MF introduces quarterly & annual dividend options under Dynamic Bond Fund

The quarterly and annual dividend options under IDFC Dynamic Bond Fund-Plan B is effective from 6th April

IDFC Mutual Fund said that it has introduced quarterly and annual dividend options under IDFC Dynamic Bond Fund-Plan B. The scheme is an open-ended fund. The option is effective from 6th April.

Under dividend option, the board shall reserve the right to declare quarterly and annual dividend, subject to availability of distributable surplus. The investment objective of the scheme is to achieve optimal returns by investing in high quality money market and debt instruments.

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Taurus MF revises exit load on Taurus Dynamic Income Fund

The revised exit load will be 1% if redeemed within one year from the date of allotment

Taurus Mutual Fund has declared that it has revised the exit load structure of Taurus Dynamic Income Fund, with effect from 9th April. The revised exit load will be 1% if redeemed within one year from the date of allotment.

Earlier, the exit load was charged at 1% if redeemed within 90 days from the date of allotment.

Taurus Dynamic Income Fund is an open ended income scheme. The investment objective of the scheme is to generate optimal returns with high liquidity through active management of the portfolio by investing in Debt & Money Market Instruments.

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New India Assurance reaches Rs10,000 crore premium collection mark in FY12

“Though all the verticals witnessed good growth, majority of the premium collection came from motor and health segments,” a New India Assurance official said

Public sector general insurance company, New India Assurance has achieved Rs10,000 crore premium collection for the FY12, on the back of strong growth in motor and health insurance verticals, a top company official said.

“We have reached Rs 10,000 crore premium collection in the last fiscal year on the back of sound growth in both domestic and international business,” the official told PTI on the condition of anonymity.

As per the Insurance Regulatory and Development Authority (IRDA), New India Assurance had collected Rs6,367.33 crore in premium amount for the period April 2010 to February 2011, which was 17.2% growth over its business of Rs5,431.9 crore over the corresponding period of the previous fiscal. Referring to the growth in various verticals, the official said motor and health insurance segment contributed significant part of the total premium collected during the last fiscal.

“Though all the verticals witnessed good growth, majority of the premium collection came from motor and health segments,” he said. The official further said growth prospects look better in the current fiscal due to uptick in economic activity.

“We are hopeful of maintaining the present growth momentum in the current fiscal as the economic outlook looks better during this year,” he said. Also, the expected rise in risk premium is likely to benefit the company in FY13 as per industry experts.

The Mumbai-headquartered general insurer has a network of 1,068 offices, comprising 28 regional offices, 393 divisional offices and 648 branches. The company also has around 23 overseas branches across Asia, Africa, and Australia among others.

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