Personal finance Friday

Aviva Life Insurance launches two new insurance plans; Birla Sun Life MF launches Short Term FMP-Series 5; Taurus MF floats Fixed Maturity Plan Series A; RBI to issue notes in Rs10 denomination with new features; Omkar Speciality Chemicals to introduce IPO on 24th January

Aviva Life Insurance launches two new insurance plans

Aviva Life Insurance has launched two new insurance plans-Aviva Life Shield Platinum and Aviva Dhan Varsha. Aviva Life Shield Platinum comes at a competitive cost with options to choose the protection need ranging from life protection, income replacement or loan protection. Aviva Dhan Varsha, traditional investment cum protection plan which gives a guaranteed addition of 6% to 9% of the life cover along with life protection and riders to secure one's future.
TR Ramachandran, CEO and managing director, Aviva Life Insurance India said, "The two products that we have introduced are on a traditional platform and seek to address concerns on loan protection, income protection as well as offer guaranteed returns. India is grossly underinsured with only 4% of insurance penetration and a growing base of insurable population in the age group of 15-59 years. We believe that term insurance products like Aviva LifeShield Platinum will act as a catalyst in providing protection to many more Indians at affordable rates."

BNP Paribas MF launches Fixed Term Fund-Series 20 B

BNP Paribas Mutual Fund has launched BNP Paribas Fixed Term Fund-Series 20 B, a close-ended income scheme.
The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of fixed income securities maturing on or before the maturity of the scheme.
The new issue opens on 20th January and closes on 24th January. The minimum investment amount is Rs5,000.

ICICI Pru MF floats Fixed Maturity Plan-Series 55-1 Year Plan A

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 55-1 Year Plan A, a close-ended income scheme.
The investment objective of the plan under the scheme is to generate regular returns by investing in fixed income securities/debt instruments which mature on or before the date of maturity of the plan/scheme.
The new issue opens on 20 January and closes on 1st February. The minimum investment amount is Rs5,000.

Tata MF unveils Fixed Maturity Plan Series 30-Scheme B

Tata Mutual Fund has launched Tata Fixed Maturity Plan Series 30-Scheme B, a close-ended income scheme.
The investment objective 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 opens on 20th January and closes on 24th January. The minimum investment amount is Rs10,000.

IDFC Mutual Fund announces dividend under Imperial Equity Fund

IDFC Mutual Fund has declared dividend under IDFC Imperial Equity Fund. The quantum of dividend for distribution will be Rs2 per unit, subject to the availability of distributable surplus. The investment objective of the scheme is to generate capital appreciation by investing predominantly in equity and equity related instruments. The record date for distribution of dividend is 25 January 2011.

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The raw truth

The S&P GSCI Spot Index of 24 commodities has climbed 24% during the past year to its highest level since September 2008 as prices of raw materials-including oil, copper, wheat and cotton-have increased. But the US should not be worried.

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Cartoon of the week

Mark my words, this just might happen.

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