LIC eastern division targets Rs6,700 crore new business

“We have given a target of Rs6,700 crore as first premium income during 2011-12,” LIC Eastern Region Zonal Manager, SK Roy, said

Life Insurance Corporation's (LIC) Eastern Division has set a target for Rs6,700 crore in new business premium during the 2011-12 financial year, an official of the corporation said.

"We have given a target of Rs6,700 crore as first premium income during 2011-12," LIC Eastern Region Zonal Manager, SK Roy, said.

He said while the target was Rs5,400 crore in the last fiscal, the region was only able to collect Rs5,200 crore.

"We are confident to meet the target this fiscal," Mr Roy said.

He said that the approach of LIC this fiscal would be to maintain a balanced business of traditional and ULIP-linked plans.

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Tata Mutual Fund floats 370 days fixed maturity plan

Tata Mutual Fund new issue closes on 6th June

Tata Mutual Fund has launched Tata Fixed Maturity Plan Series 35 Scheme B (370 days maturity), a close-ended income scheme.

The investment objective of the scheme is to generate income and/or capital appreciation by investing in wide range of debt and money market instruments having maturity in line with the maturity of the scheme.

The new issue closes on 6th June. The minimum investment amount is Rs10,000.

Crisil Short Tern Bond Fund Index is the benchmark index. Murthy Nagarajan is the fund manager.

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Religare Mutual Fund introduces 367 days fixed maturity plan

Religare Mutual Fund new issue closes on 1st June

Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series VII-Plan A to F-Plan F (369 Days), a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in debt and money market instruments maturing on or before the date of maturity of the scheme.

The new issue closes on 1st June. The minimum investment amount is Rs5,000.

CRISIL Short-Term Bond Fund Index is the benchmark index. Nitish Sikand is the fund manger for the scheme.

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