Personal finance Thursday

SBI Mutual Fund launches SBI Debt Fund Series 180 Days-14; HDFC Mutual Fund announces dividend for two schemes; ING Life unveils ING Market Shield

SBI Mutual Fund launches SBI Debt Fund Series 180 Days-14

SBI Mutual Fund launches SBI Debt Fund Series 180 Days-14, a close-ended income scheme.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, PSU & corporate bonds and money market instruments maturing on or before the maturity of the scheme.
The new issue opens on 23rd December and closes on 27th December. The minimum investment amount is Rs5,000.

HDFC Mutual Fund announces dividend for two schemes

HDFC Mutual Fund has approved the declaration of dividend under the dividend option of its two schemes. The schemes are-HDFC FMP 100D September 2010(1) and HDFC FMP 100D September 2010(2). The quantum of declaration will be 100% of the distributable surplus as available under the plan(s) on the record date. The record date is 28th December.
 
ING Life unveils ING Market Shield

ING Life has launched ING Market Shield, a guaranteed net asset value (NAV) unit-linked insurance product. The plan provides an opportunity to participate in the equity market while protecting investments from its downside with a guaranteed NAV throughout the term of the product and not just at maturity. The product targets investors who want to enjoy the upside of equity participation, while protecting profits from fluctuations.

It assures guaranteed or current NAV-whichever is higher-for all benefits like partial withdrawals, death benefit, surrender benefit and maturity benefit. For a term of five years the minimum premium is Rs48,000 and of 10 years or the entire policy term Rs36,000. Customers can choose their desired life cover ranging between 10 and 20 times the annual premium.

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