SBI Mutual Fund launches SBI Debt Fund Series-60 Months-1; Taurus MF unveils Taurus Fixed Maturity Plan-120 Days Series-1; Kotak Mahindra MF introduces Kotak FMP-24M Series-2; Star Union Dai-ichi Life launches three products
SBI Mutual Fund launches SBI Debt Fund Series-60 Months-1
SBI Mutual Fund has launched SBI Debt Fund Series-60 Months-1, a close-ended income scheme. The investment objective of the scheme is to provide regular income, liquidity and returns by investing in debt instruments maturing on or before the maturity of the scheme. The scheme offers two options - growth and dividend (payout). The scheme opens on 17th September and closes on 27th September. The new fund offer (NFO) price is Rs10 per unit. The minimum investment amount is Rs5,000. The scheme will be benchmarked against CRISIL Composite Bond Fund Index.
Taurus MF unveils Taurus Fixed Maturity Plan-120 Days Series-1
Taurus Mutual Fund has launched Taurus Fixed Maturity Plan-120 Days Series-1, a close-ended income scheme. The investment objective of the scheme is to generate income with minimum volatility through investments in debt and money market instruments maturing on or before the maturity of the scheme. The scheme has two options - growth and dividend. The scheme opens on 17th September and closes on 22nd September. The new fund offer (NFO) price for the scheme is Rs10 per unit. The minimum investment amount is Rs10,000. The performance of the scheme will be measured against CRISIL Short Term Bond Fund Index.
Kotak Mahindra MF introduces Kotak FMP-24M Series-2
Kotak Mahindra Mutual Fund has launched Kotak FMP-24M Series-2, a close-ended income scheme. The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme offers two options - growth and dividend (payout). The exit load for the scheme is nil. The scheme opened on 16th September and closes on 21st September. The new fund offer (NFO) price for the issue is Rs10 per unit. The minimum investment amount is Rs5,000. The minimum target amount for the scheme is Rs50 lakh. The benchmark index for the scheme is CRISIL Composite Bond Fund Index.
Star Union Dai-ichi Life launches three products
Star Union Dai-ichi Life Insurance Company has launched a new traditional endowment product 'Defined Benefit Endowment Plan'. The product ensures regular tax-free monthly benefit for 15 years.
The company has also launched two new unit-linked endowment insurance plans - Dhan Suraksha 3 and Dhan Suraksha Premium 3 - which comply with new Insurance Regulatory and Development Authority (IRDA) regulations. Both the plans provide death benefit if the death occurs within the term of the policy. The plans also offer maturity benefit if the policy holder survives the term of the policy. The plans come with two riders which provide cover against accidental death or permanent disability and cover against critical diseases. The plans offer high returns on the money paid by policy holder by offering the policy holder the option of choosing among four available fund types.
The difference among the two products is the death benefit payable. In Dhan Suraksha 3, it is only either sum assured or fund value which ever higher or at least 105% of total premium paid. While in Dhan Suraksha Premium 3, death benefit is both fund value and sum assured, said the company in a statement.
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New Delhi: Faced with declining profits, multinational companies (MNCs) are restructuring their international programmes by shortening overseas assignments and hiring expatriates locally, reports PTI quoting a survey by global HR consultancy firm Mercer.
According to Mercer's 'International Assignments Survey 2010', covering over 220 multinational companies (MNCs) across all industries, firms are forced to balance cost constraints on international assignments while retaining the competitive edge over their rivals.
The survey revealed that, "Organisations globally now have more structured international assignment programmes that put emphasis on shortened assignments, hiring locally and eliminating non-essential benefits in an effort to manage costs more effectively."
About 50% of the companies surveyed reported a rise in short-term overseas assignments, which are becoming more aligned with organisations' objectives due to their quick approval process.
Around two-thirds of companies globally have developed special policies for short-term assignments, it added.
"As the global economy moves slowly into recovery mode, particularly for certain regions such as the Asia-Pacific, the focus on cost containment is still prevalent among firms, particularly when it comes to international assignment policy," Mercer Asia-Pacific global mobility leader Cathy Loose said.
Moreover, MNCs are trimming costs by hiring expatriates locally in project countries instead of paying more to bring in talent from outside.
According to the survey, around 50% of firms have increased or plan to increase the number of expatriates hired locally.
Given the financial and administrative costs associated with international assignments, most firms are reviewing their global expatriate policies.
Nearly nine out of 10 MNCs worldwide have been revising or are planning to revise their expatriate policy, which includes benefits and allowances, in order to reduce expenditure, the survey added.
"As a result of the economic climate, many companies have had to postpone planned foreign investments and have turned the focus to their existing overseas operations," the Mercer report stated.
MNCs are still cautious about the prevailing economic climate globally and are cutting costs to maintain the profitability of their businesses.