Personal finance Monday

Birla Sun Life MF launches Capital Protection Oriented Fund-Series 3; BNP Paribas MF introduces Fixed Term Fund-Series 19 F; Fidelity MF floats Fidelity Fixed Maturity Plan Series IV-Plan F; IDFC Mutual Fund launches Fixed Maturity Plan-Thirty-Six Months Series 2; Kotak Mahindra MF floats 370 days plan; Birla Sun Life MF unveils Capital Protection Oriented Fund-Series 4; Motilal Oswal MF launches MOSt Shares M100

Birla Sun Life MF launches Capital Protection Oriented Fund-Series 3

Birla Sun Life Mutual Fund has launched Birla Sun Life Capital Protection Oriented Fund-Series 3, a close-ended growth scheme.

The scheme seeks to provide capital appreciation linked to equity market with downside protection at the end of tenure. Fund expects to achieve down side protection by investing in debt securities with tenure comparable with the tenure of the plan, subject to the credit risk. Fund expects to achieve the market-linked appreciation (upside) by investing in premium of exchange traded options.

The new issue opens on 10th January and closes on 24th January. The minimum investment amount is Rs5,000.

The scheme will be managed by Satyabrata Mohanty. CRISIL Balanced Fund Index is the benchmark index.

BNP Paribas MF introduces Fixed Term Fund-Series 19 F

BNP Paribas Mutual Fund has launched BNP Paribas Fixed Term Fund-Series 19 F, 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 10th January and closes on 12th January. The minimum investment amount is Rs5,000.

The scheme will be managed by Alok Singh. The benchmark index for the scheme is CRISIL Liquid Fund Index.

Fidelity MF floats Fidelity Fixed Maturity Plan Series IV-Plan F

Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan Series IV-Plan F, a close-ended income scheme.

The investment objective of the scheme is to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short to mid term debt instruments having maturity, on or before the date of maturity of a plan.

The new issue opens on 10th January and closes on 12th January. The minimum investment amount is Rs5,000.

IDFC Mutual Fund launches Fixed Maturity Plan-Thirty-Six Months Series 2

IDFC Mutual Fund has launched IDFC Fixed Maturity Plan-Thirty-Six Months Series 2, a close-ended income scheme.

The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme.

The new issue opens on 10th January and closes on 20th January. The minimum investment amount is Rs10,000.

Kotak Mahindra MF floats 370 days plan

Kotak Mahindra Mutual Fund has launched Kotak FMP Series 32 (370 Days), 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 will invest in debt and money market securities, maturing on or before maturity of the scheme.

The new issue opens on 10th January and closes on 11th January. The minimum investment amount is Rs5,000.

Birla Sun Life MF unveils Capital Protection Oriented Fund-Series 4

Birla Sun Life Mutual Fund has launched Birla Sun Life Capital Protection Oriented Fund-Series 4, a close-ended growth scheme.

The scheme seeks to provide capital appreciation linked to equity market with downside protection at the end of tenure. Fund expects to achieve down side protection by investing in debt securities with tenure comparable with the tenure of the plan, subject to the credit risk. Fund expects to achieve the market-linked appreciation (upside) by investing in premium of exchange traded options.

The new issue opens on 10th January and closes on 24th January. The minimum investment amount is Rs5,000.

The scheme will be managed by Satyabrata Mohanty. CRISIL Balanced Fund Index is the benchmark index.

Motilal Oswal MF launches MOSt Shares M100

Motilal Oswal Asset Management Company Ltd has launched Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares M100), an open ended index exchange traded fund which seeks to track the CNX Midcap Index. This Midcap ETF is India's first exchange traded fund (ETF) which tracks the performance of the Midcap segment of the broader stock market.

MOSt Shares M100 is the second offering and also second 'India's First' product from the stable of Motilal Oswal Mutual Fund, in line with Motilal Oswal AMC's endeavour to launch such specialised first of their kind products.

MOSt Shares M100 ETF will be listed on the NSE. The minimum investment amount during the New Fund Offer (NFO) is Rs10,000. On an ongoing basis, on the exchange, the units of the scheme can be bought/sold in round lot of one unit.

The fund manager of the scheme is Rajnish Rastogi. The new issue will be open for subscription from 12 January 2011.

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Import of sensitive items up 14% in Apr-Oct period

New Delhi: India's import of sensitive items, including pulses, vegetables and automobiles have risen by 14.1% to Rs40,499 crore during the April-October period of the current fiscal, reports PTI.

The country had imported such items worth Rs35,487 crore in the same period of last fiscal, official data said today.

Edible oil contributed the highest to the import kitty with Rs15,882 crore during the reporting period, against Rs14,205 crore in the same period of last fiscal, mainly due to 17.2% spurt in import of crude oil like soyabean.

Imports of milk and dairy products also increased to Rs536.12 crore and that of automobiles to Rs1,249.92 crore during the period of the current financial year from Rs131.16 crore and Rs583.28 crore, respectively last year.

However, cotton and silk, tea and coffee imports dipped by 26.7% and 19.5% during the period to Rs945.44 crore and Rs149.19 crore, respectively.

Foodgrains, milk, silk and beverages are among the items categorised as sensitive ones and their imports are monitored by government to check any possible adverse impact on the local industry.

Import of automobiles registered a significant rise of 114.3% during April-October to Rs1,249.92 crore from Rs583.28 crore in the corresponding period of last fiscal.

Gross import of all commodities during the period under review was Rs8,89,827 crore compared to Rs7,43,469 crore in the corresponding period of last year.

Import of sensitive items amounted to 4.6% of the country's total imports during the period.

Imports of sensitive items from Indonesia, China, Malaysia and the United States have gone up while those from Myanmar, Canada, Brazil and Japan have gone down.

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The pain in grain

Russia is likely to swing from being a net exporter of wheat to a net importer in 2011, possibly requiring as much as 3 million metric tonnes. This could be hugely bullish news not only for wheat, but corn, soybeans, and rice as well.

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