The new scheme aims to provide returns to investors by investing in 50 high-dividend yielding stocks
Mumbai: IIFL Mutual Fund, a subsidiary of India Infoline, launched an open-ended fund called IIFL Dividend Opportunities Index Fund, reports PTI.
The objective of the scheme is to provide returns to investors by investing in 50 high-dividend yielding stocks, IIFL AMC chief executive Gopinath Natarajan told reporters.
The minimum subscription amount for the scheme, which opens 6th June and closes on 19th June, is Rs5,000. The fund will also offer monthly and quarterly investment plans.
The fund house will be investing in the stocks across 25 diversified sectors, comprising large and mid-cap stocks, he said.
“The scheme is good for those who aim to reap benefits from high-dividend yields, cash-flow generating companies, which share their profits by way of dividends. The scheme is not only suited for investors looking at tactical allocation but also to those looking at potential long-term gains,” Mr Natarajan said.
The fund offers two options -- growth and dividend -- as well as a speciality facility of systematic investment plan.
“There is no entry load, while an exit load of 1% will be charged for exit before one year from the date of allotment. The units of the scheme are available in the demat mode also,” he added.
The Aviva Health Secure plan provides the policyholder with a lump sum amount on diagnoses of any critical illness covered by the policy
New Delhi: Private sector life insurance company Aviva launched online health plan called 'Health Secure', reports PTI.
The plan provides the policyholder with a lump sum amount on diagnoses of any critical illness covered by the policy thereby ensuring that the family has adequate funds to meet the unplanned medical expenses and get the best possible treatment, Aviva said in a statement.
Available exclusively on the online platform, the policy can be bought for a nominal premium starting Rs2,000 per year from its website, it said.
While the minimum sum assured is Rs5 lakh, the maximum is Rs50 lakh. The plan can be bought by a person from 18 years to 55 years of age for a minimum policy term of 10 years and a maximum term of 30 years, it added.
The 12 critical illnesses covered by the plan include heart attack, stroke, cancer, end stage kidney failure, major organ transplant, and coronary artery bypass surgery, it said.
Unlike the health insurance product offered by the non-life companies which are indemnity based, it said, Health Secure offers the policyholder a lump sum based on the sum assured for each of the illnesses irrespective of the hospital bills.
After speaking with NCP, the civil aviation minister is trying to get support from Trinmool Congress leader Mamata Banerjee and the DMK for FDI in aviation
New Delhi: Civil Aviation Minister Ajit Singh will soon discuss the issue of allowing foreign airlines to pick up stake in Indian carriers, with West Bengal Chief Minister Mamata Banerjee which her party has been opposing, reports PTI.
"We will talk to Mamata and we will talk to DMK. We have already talked to NCP," Singh told reporters here after a meeting with Home Minister P Chidambaram.
Before meeting Chidambaram, he had told reporters, "We are still talking to our allies" on the issue of allowing foreign airlines to invest in Indian carriers. Singh had met Banerjee once earlier to pursuade her to give a go-ahead to the proposal.
The proposal was mooted by the Commerce Ministry which was later approved by the Civil Aviation Ministry. Trinamool Congress, a key UPA partner, has been opposing it for quite some time.
The RLD chief also said he had discussed with the Home Minister the issue of providing OBC status to Jat community for getting Central government jobs and the forthcoming Presidential election.
Asked about his preference for any candidate in the President poll, Singh said Finance Minister Pranab Mukherjee was "qualified" for the highest constitutional post but his views were "positive" on others as well.
Maintaining that UPA Chairperson Sonia Gandhi would take a call on the Presidential candidate in consultation with UPA allies, Singh said, "My views are positive on him (Mukherjee), but my views are positive on others as well."