Peerless Mutual Fund new issue opens on 11th March
Peerless Funds Management Co Ltd, sponsored by The Peerless General Finance India Co Ltd is launching "Peerless MF Child Plan", an open ended fund on 11th March. This is a multiple asset class product wherein the investment will be made in debt, equity and gold exchange traded funds.
The investment objective of the scheme is to generate long term capital appreciation through a portfolio of fixed income securities, Gold Exchange traded funds (ETFs) of other mutual funds and equity & equity related Instruments. Peerless MF Child plan is an open ended scheme and investing minimum 60% and maximum 90% in debt fund, the scheme will also invest 5-35% in equity and equity related instruments and 5-35% in gold ETFs of other mutual funds.
The scheme comes with two investment options-growth and dividend (payout and Re-investment). The fund provides systematic investment plans (SIPs) to help parents to build capital in installments. Parents can also create multiple SIPs based on various needs or goals planned for their child.
The product features, including a minimum lump sum amount of Rs1,000 and Rs500 for an SIP, show the resolve of the Peerless group for inclusive investing.
Akshay Gupta, managing director and CEO said, "Peerless MF Child Plan is designed to help parents in attempting to achieve their children's long term goals and take advantage of dynamic management of multiple asset classes like gold, equity and debt. Investment in debt instruments ensures stability and security with regular income while Gold ETF and equity investment will attempt to achieve capital appreciation in the long term. Inflation levels in India are high and with a view to outperform inflation in long term, Peerless Mutual Fund has introduced this product."
The issue price for the scheme is Rs10 each for cash during the NFO and applicable NAV thereafter on an ongoing basis. No entry and exit load will be charged for Peerless MF Child Plan; however, an exit load of 1% would be applicable, if redeemed before one year. Retail investors can start investment with Rs1,000. Minimum additional purchase amount would be Rs100. The scheme shall reopen for all the transactions within five days of allotment.
The fund is benchmarked against Crisil MIP Blended Index + Price of Gold (85:15) Ganti N Murthy (Debt) & Kaushik Dani (Equity Gold Fund) are the fund managers for the schemes.
Bharti AXA General Insurance is introducing customised group health plans for women
Bharti AXA General Insurance is introducing customised group health plans for women. The group health insurance plan offers critical illness benefit with a special double compensation feature for woman centric critical diseases that include ovarian, cervical, breast cancer and endometrial carcinoma. The benefits also include surgical cash for major surgeries, hospital cash allowance, custom made medical check ups for woman, helpline for consulting woman doctors or specialists and add-on cover on hospitalisation expenses for dependent children. All these will be provided on a group basis to corporates, banks, NGOs and SHGs (self help groups) with the option of voluntary enrollment.
Additionally, Bharti AXA General Insurance is rolling out a 10% discount to all women customers across its Retail Health and Personal Accident products for the month of March 2011.
Birla Sun Life Mutual Fund new issue closes on 9th March
Birla Sun Life Mutual Fund has launched Birla Sun Life Short Term FMP-Series 11, a close-ended income scheme.
The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The scheme will have duration of 91 days.
The new issue closes on 9th March. The minimum investment amount is Rs5,000.
CRISIL Liquid Fund Index is the benchmark index. Kaustubh Gupta is the fund manager.