Personal finance Monday

IDFC Mutual Fund to float IDFC Savings Scheme-Series I on 15th October; Taurus MF revises exit load under two schemes; Principal MF mergers Principal Resurgent India Equity Fund into Principal Growth Fund; Deutsche MF revises exit load structure under two schemes; Infra BeES gets listed on National Stock Exchange; ING Vysya Bank increases base rate to 7.75%     

IDFC Mutual Fund to float IDFC Savings Scheme-Series I on 15th October

IDFC Mutual Fund has launched a new fund called IDFC Savings Scheme-Series I, a close-ended debt scheme with the duration of 36 months. The Scheme shall mature on 7 November 2013. The new fund offer (NFO) price for the Scheme is Rs10 per unit. The new issue will open on 15th October and will close on 29th October.

The Scheme seeks to generate income by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective.

The Scheme offers growth and dividend options. The Scheme will allocate 75% to 100% of assets in debt and money-market instruments with medium risk profile. It would further allocate up to 25% of assets in equity and equity related instruments with high risk profile. Investment in securitised debt would be nil. Investments in foreign securities would be up to 50% of the net assets of the Scheme.Investments in derivatives would be up to 50% of the net assets of the Scheme.

The minimum application amount is Rs5,000. The fund seeks to collect a minimum target amount of Rs1 crore under the Scheme during the NFO period. Entry load and exit load charge will be nil for the Scheme. CRISIL MIP Blended Index is the benchmark index for the Scheme. Ashwin Patni is the fund manager.

Taurus MF revises exit load under two schemes   
 
Taurus Mutual Fund has revised the exit load structure under its two schemes, Taurus Nifty Index Fund and Taurus Bonanza Fund. According to the revision, the exit load for both the Schemes will be nil. Initially, Taurus Nifty Index Fund charged 1% exit load, if the investment was redeemed within 15 days from the date of allotment, while Taurus Bonanza Fund charged 1% exit load, if the investment was redeemed within one year from the date of allotment.

 Principal MF mergers Principal Resurgent India Equity Fund into Principal Growth Fund

Principal Mutual Fund has decided to merge Principal Resurgent India Equity Fund into Principal Growth Fund. The dividend and growth option of Principal Resurgent India Equity Fund will be merged into the respective options under Principal Growth Fund. After the merger, the investment objective, asset allocation pattern and all other features of Principal Growth Fund will remain unchanged. Investors, who do not agree with the merger, can redeem their investments till 29th October without any exit load.

Deutsche MF revises exit load structure under two schemes   
 
Deutsche Mutual Fund has revised the exit load structure under its two schemes, DWS Treasury Fund-Cash Plan and DWS Short Maturity Fund. According to the revision, DWS Treasury Fund-Cash Plan will charge 1%, if the investment is redeemed within seven days from the date of allotment, while DWS Short Maturity Fund will charge 1.5%, if the investment is redeemed within 12 months from the date of allotment. The Schemes are benchmarked against CRISIL Liquid Fund Index and CRISIL Short Term Bond Fund Index, respectively. 

Infra BeES gets listed on National Stock Exchange

Benchmark Asset Management Company's Infrastructure Benchmark Exchange Traded Scheme (Infra BeES), an index exchange traded fund (ETF) on infrastructure sector, has got listed on the National Stock Exchange. Infra BeES is the first infrastructure sector fund which will mirror CNX Infrastructure Index. The index includes companies engaged in the business of telecom, power, port, air, roads, railways, shipping and other utility services providers.

ING Vysya Bank increases base rate to 7.75%

ING Vysya Bank has increased its base rate by 0.5% per annum from 11th October. The Bank has revised its base rate to 7.75% per annum from 7.25% per annum. The Bank has also revised its interest rates on term deposits of various tenors, effective from 4th October. Base rate is the minimum rate of interest that a bank is allowed to charge its customers. Unless mandated by the government, Reserve Bank of India rule stipulates that no bank can offer loans at a rate lower than base rate to any of its customers.
 

User

Nerolac Paints: Painting the town, er, not red!

Environment protection is the cool new attitude now. However, the rendition of the thought in the ad is entirely contrived, and the execution too patchy to evoke any feelings

Makers of Nerolac paints, quite possibly because they can't match the media budgets of giants like Asian Paints, have done what most risk-averse marketers do: Sign up Shah Rukh Khan! But they have tried to come up with an offbeat strategy. So instead of talking durability, shiny walls, colour codes, etc, they want to make our cities better, prettier places to live in. A sort of a pseudo-environmental ad campaign. Readers may recall their earlier work came with the slogan: 'Jab Ghar Ki Raunak Badhani Ho, Deewaron Ko Jab Sajaana Ho - Nerolac'. Well, now they want to decorate big cities.

The commercial features a man spitting deep red on a wall. Badshah Khan, who happens to be hanging around on the city streets (yes, you read that right!), has a conscience attack. He summons his partners, all school children, and decides to do something about this 'decoration'. And he and the kids, like fire-fighters, jump across the streets, in a race to swiftly 'douse' the paan stains. But they go beyond the task. Splashing paints from various containers, they progress to paint the entire street. Cool! But since SRK is at play out here, action alone shan't do. We need some emotion as well. So the star then finds himself inside a decaying home for the elderly. And jazzes up that place too. But not before a close dance with an elderly lady. Cool! 'Nerolac: Kuchh change karein, chalo paint karein' is the message. The commercial ends, but I am pretty sure the paan spitter returned with a vengeance… what to do, we are like this only!

We are also like this only in terms of being inspired by firang ads. Dulux has done a similar commercial for its international 'Let's Colour' campaign. But this must be a coincidence. They didn't feature Mr Khan, you see, haha!

These days, everybody and their daddies want to do social awareness ads for their brands. Environment protection is the cool new attitude now. So it's understandable why the Nerolac brand manager didn't want to be left behind in this race to save the world. However, the rendition of the thought is entirely contrived, and the execution too patchy to evoke any feelings. And this despite the mighty presence of Shah Rukh Khan. For a low involvement category like paints, public awareness brand campaigns have to work really hard in order to evoke some amount of passion from the viewers. I am afraid, Nerolac leaves no impression behind on that score, as the commercial totally lacks soul.

Apparently the idea is to do a long term social campaign. But if this is going to be the result, the Nerolac suits would do themselves a favour by returning to 'Jab Ghar Ki Raunak Badhani Ho…'

Because the bottom-line is this: We Indians desire beautiful homes. As for the streets, we give a fig. Spitting is our favourite pass-time. And so is watching SRK rom-coms. Neither will go away in a hurry.
 

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Indian Railways: Off the track!

This commercial bores you — not only is the idea expected, the treatment dull and off-putting, it also fails on that one thing it is supposed to hinge on: emotion

Close on the heels of a brilliant advert by Kerala Tourism, in comes an utterly boring one from Indian Railways. In fact, before I come to the creative itself, let me state that it's a crying shame that the organisation is promoting itself. When the product itself sucks badly.

Dirty toilets, used blankets, corruption in the booking system, cockroaches and rats in the bogies, the sordid list goes on. Doesn't simple marketing logic suggest that you need to first get your product right, and then attempt to hawk it? Isn't this a case of putting the cart before the horse? Or, in this case, putting the stinking bogies before the ancient engine?

Well, probably aware of their many screw-ups, the Indian Railways bosses have taken leave of logic, and are trying to use an emotional route to win back lost passengers.

And what the ad agency has done is totally predictable. It's the first thought that would strike a trainee copywriter. (By the way, the ad industry is rife with allegations that the ad is a direct lift from a Hong Kong Trains commercial, and yup, they're sensationally similar!)

They have tried to re-create yesteryear actor Ashok Kumar's legendary song, 'Rail gaadichhuk chhuk chhuk'. And instead of children running together like a moving train, adult men from all walks of life and from different communities (why not them women?) are shown performing the gig. As they form a human chain and run around the streets and homes and rooftops. Much to the amusement of onlookers.

Here's what I suspect will happen: Many award juries will honour this commercial. With this justification: 'Wow, how nicely they've simplified the story of a large, complex organisation like the Indian Railways!"

Well, simplicity in communications is all very fine. But at the end of the day, an ad must also be surprising and entertaining, right? This particular commercial bores you. Not only is the idea expected, the treatment dull and off-putting, it also fails on that one thing it hinges on: emotion. The TV commercial leaves you cold and indifferent.

What a waste of time, money and Mamata didi's energies! Really wish the Indian Railways staffers would rather have invested all of that in giving us trains we would enjoy boarding. And travelling in. Rather than feeling anxious right through the yatra about rodents, dirty toilets and food that makes you want to retch. And they don't even bother to provide barf bags. Aaargh!

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COMMENTS

krish

6 years ago

I HAVE TONNES OF WRITING I CAN DO ON INDIAN RAILWAYS IF ML IS WILLING TO ACCEPT, PUBLISH & PAY FOR IT. PL INFORM.

Biyani

6 years ago

Such commercials are made for awareness of the public at large and more for BRAND building.
Indian Railways needs neither.
When they can't even fulfill the existig demand of seats / bearths, where is the need to advertise for the Railways as a brand.
It must be a silly idea from some one in Central Office who must be interested in obliging some agency at government's expenses

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