IDFC Mutual Fund new issue closes on 31st October
IDFC Mutual Fund has launched IDFC Fixed Maturity Plan Yearly Series 53, 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 on or before the maturity of the scheme. The tenure of the scheme is one year.
The new issue closes on 31st October. The minimum investment amount is Rs10,000.
Crisil Short Term Bond Fund Index is the benchmark index. Anupam Joshi is the fund manager.
Birla Sun Life MF new issue closes on 31st October
Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series DS, a close-ended income scheme.
The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The tenure of the scheme is 367 days.
The new issue closes on 31st October. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Kaustubh Gupta is the fund manager.
Money balance plan offers life insurance cover, an additional benefit to earn and secure returns on the invested money
Private insurer IndiaFirst Life Insurance has launched money balance plan that offers life insurance cover an additional benefit to earn and secure returns on the invested money.
"Our IndiaFirst Money Balance Plan offers an insurance cover on your life and additionally helps you earn and secure returns on the money that you invest with us. The idea is that our money should not only work hard for us; but should also be kept safe for our future needs," company managing director and CEO P Nandagopal said in a release.
Under the plan, the earnings on investment from equity are transferred to debt on a daily basis, if the return is 10% or higher, so that one can enjoy the upside of the equity market and also secure the returns on your investments. This is done using the automatic trigger-based investment strategy that helps a healthy balance of equity and debt. The plan offers a life cover in case of unfortunate demise of the customer. It also provides customers of switching their premiums between funds every week with 52 free switches.
Apart from tax benefits, the plan allows easy access to money by providing you a loan facility during the first five years and allows one to withdraw partially (after five years) in case of any financial emergency.
IndiaFirst Life Insurance is a joint venture between two of India’s largest public sector banks-Bank of Baroda and Andhra Bank along with UK's risk, wealth and investment company Legal General.