Personal finance Wednesday

ICICI Pru MF unveils 371 days plan; Reliance MF floats Fixed Horizon Fund-XVI-Series 5; Motilal Oswal MF files for India's 1st US Equity ETF based on the 'Nasdaq-100 Index'; BSNL reduces STD call charges; ICICI Securities introduces new brokerage structure for its customers; Tata Motors ties up with United Bank of India for financing commercial vehicles

ICICI Pru MF unveils 371 days plan

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 53-One Year Plan C, a close-ended income scheme.

The investment objective of the Plan C 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. The duration of the plan is 371 days. The plan has growth and dividend (payout) option.

The new issue opens on 1st December and closes on 7th December. Since the plan will be listed on the stock exchange, load will not be applicable. The minimum investment amount is Rs5,000.

The plan will be benchmarked against CRISIL Composite Bond Fund Index. The plan will be managed by Chaitanya Pande.

Reliance MF floats Fixed Horizon Fund-XVI-Series 5

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XVI-Series 5, a close-ended income scheme.

The primary investment objective of the scheme is to generate regular returns and growth of capital by investing in central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. The tenor of the scheme is 367 days and the exit load is nil. The scheme has growth and dividend (payout) option.

The new issue opens on 1st December and closes on 2nd December. The minimum investment amount is Rs5,000. The minimum target amount is Rs20 crore.

CRISIL Short Term Bond Fund Index is the benchmark index. The scheme will be managed by Amit Tripathi.

Motilal Oswal MF files for India's 1st US Equity ETF based on the 'Nasdaq-100 Index'
Motilal Oswal Asset Management Company and The Nasdaq OMX Group have filed an offer document with the Securities and Exchange Board of India (SEBI) for the Motilal Oswal MOSt Shares Nasdaq-100 ETF (MOSt Shares N100), an open ended index ETF, which seeks to track the Nasdaq-100 Index. This will be India's first US Equity based exchange traded fund (ETF), once it is approved by the Indian regulators.

The Nasdaq-100 Index is made up of the 100 largest non-financial companies listed on The Nasdaq Stock Market. The Nasdaq 100-Index is developed and maintained by The Nasdaq OMX Group, the world's largest exchange company.
Nitin Rakesh, MD & CEO of Motilal Oswal AMC said, "MOSt Shares N100 aims to provide Indian investors with a global, diversified, rupee denominated, Indian market hours access to high growth Nasdaq-100 Index companies such as Google, Microsoft, Apple and other leading global companies."

Investing in the ETF does not impact overseas investment limits and is treated at par with all Indian mutual fund investments while trading like a share on Indian stock exchanges.

 "Once MOSt Shares N100 is approved by regulators, investors in India will have exposure to one hundred of the world's most innovative non-financial companies," said John Jacobs, Executive Vice President, Nasdaq OMX.

BSNL reduces STD call charges

The state-run Bharat Sanchar Nigam Ltd (BSNL) has slashed landline STD call charges. With this, BSNL's landline STD and local call rates have become same.
BSNL said that the pulse rate of STD calls made from its landline number to any other landline number across India would be increased to three minutes from one minute from 1st December.

Till now it was only in local calls that the pulse rate was three minute, but now this will be extended to all landline connections across India, thus giving people facility to talk more without paying more.

BSNL's fixed line phone subscriber will be able to call any other fixed line networks having less than 10 digit numbers throughout India. Customers will now be able to talk for three minutes in one call unit charge, which varies from 80 paise to Rs1.20 depending upon the tariff plan.

ICICI Securities introduces new brokerage structure for its customers
Active Trader Service (ATS), a specialised service offered by ICICI Securities for active traders, today announced a new brokerage structure for its customers.
ATS, which was launched across multiples cities in India last year, provides specialised research & personalised service, with the aid of latest technology & infrastructure.

"Over the past one year we have seen an increased interest by retail investors in the derivatives segment. There are a lot of retail investors who participate in the markets to benefit from intraday movements in the index and stock options. These actively trading participants form an important segment of the option market," said Mr Ketan Karkhanis, head of Active Trader Service, adding "When a customer trades to benefit from small intraday movements, he needs to keep the transaction costs minimal so as to earn maximum spreads on individual trades."

Recognising this need, ICICI Securities has introduced an innovative order based brokerage structure in the options segment. Under this brokerage structure, for all executed orders in options segment, Rs195 is charged as a fixed brokerage for its customers. This is applicable up to 10 lots and Rs15 per lot thereafter. If only one trade is executed in such order, Rs95 is charged instead of Rs195. This helps the active traders to keep the transaction cost at the minimum and do better spread management. 
Tata Motors ties up with United Bank of India for financing commercial vehicles

Tata Motors has entered into an understanding with the United Bank of India for financing its range of commercial vehicles to provide an added facility of finance to its customers.

With this tie-up, the United Bank of India will offer loans for Tata Motors' commercial vehicles to both Existing and New Transport operators up to 90% of the cost of vehicle (including chasis, body,insurance and registration) , for a tenure ranging up to five years, at competitive rates. No collateral security will be required on funding up to Rs10 lakh for cases done under CGTSME.

This facility will be available at all 1,555 branches of the bank and commercial vehicle dealerships of Tata Motors.


Experian India enters into mass email marketing business

Mumbai: Experian India, the unit of information services company Experian, said it launched its mass email marketing services 'CheetahMail' in the country. Experian's CheetahMail is used by some of the world's best-known brands, including Audi, Barclays, Discovery Channel, HMV, JCPenny, KLM and Starbucks amongst many others, the company said in a release.

Navin Chandani, managing director of Experian Marketing Services in India, said: "This launch signals the next phase in the range of Experian's global digital marketing products we will be bringing to the Indian market."

According to an Experian official, the deliverability rate for Cheetahmail can go as high as 99.7% as is seen from their experience in the US and UK. He said," Since CheetahMail is permission-based email services, we share good relations will all email service providers and inform them about the volume that we would be sending beforehand. This helps us to send mailers to inboxes of the users."

Experian provides email marketing services that sends out e-mails on an ‘Opt-In’ basis only, which means, it is only sent to consumers who have agreed to receive such e-mails. This, in conjunction with the process of keeping ISPs informed well in advance about forthcoming email campaigns is what ensures high delivery levels.

CheetahMail is offering three types of subscriptions modules with different pricing. While the official declined to provide exact costing of CheetahMail, he said it would be competitive with other mass emailing service providers in India.


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