Quantum Mutual Fund introduces “zero” transaction charges

Quantum Mutual Fund has also published details of commissions paid to distributors-zero commissions paid since inception till date-on its website

Quantum Mutual Fund has announced “zero” transaction charges for all subscription applications received from distributors, which will ensure that there are no deductions made from the investor's subscription amount.

The fund house has also published details of commissions paid to distributors-zero commissions paid since inception till date-on its website: www.QuantumMF.com.

SEBI’s recent guidelines permit asset management companies (AMCs) to pay distributors a transaction charge of Rs100 for existing investors and Rs150 for first time investors as transaction charges for each subscription of Rs10,000 and above. The AMC shall deduct the transaction charges from the subscription amount received from the investor and pay the same to the distributor. The balance amount will be invested in the scheme.

However, investors in Quantum Mutual Fund will not have to incur any such charges. As per the SEBI guidelines, AMCs are required to publish their commission details on their respective websites. Disclosures of commission give the investor information. The investor has always had the right to question. Now with such information, he has the knowledge to question well.

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Postmygreetings.com launches portal offering door-step delivery of customised greeting cards

Postmygreetings website includes special features and applications to send and receive greetings

Online retailer of printed greeting cards, Postmygreetings.com has added a host of new customisation options ushering the era of bespoke greetings to India. Users across the globe can express their warmth through creativity as they play with colours and fonts; insert clipart, upload images and add effects; choose an envelope; try their hands at poetry or write personal messages and much more.
Postmygreetings website includes special features and applications to send and receive greetings. It also enables members to organise and maximise their social greeting skills with effective and easy-to-use tools like ‘My address book’ and ‘My calendar’. One can also track upcoming occasions by setting up reminders or design and process cards in advance ensuring delivery on desired date.
An account on Postmygreetings.com also allows you to maintain a ‘Wallet’ thus reducing the cumbersome process of repeated online payments.

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Bajaj Finserv gets SEBI approval for mutual fund business

Bajaj Finserv is likely to enter mutual fund business by end-2012

Bajaj FinServ, the financial services arm of Bajaj Group, has received approval from the capital markets regulator SEBI for setting up mutual fund business and is likely to enter the fray by end-2012, the company's managing director Sanjiv Bajaj told reporters on the sidelines of the India Economic Summit of the World Economic Forum on 13th November.

Mr Bajaj, however, said the company's consumer lending business may be hit going forward. "Going ahead, it (consumer lending) will slow down. Consumer lending is the last one to be affected in a high rates cycle and I see some impact on the vertical," Mr Bajaj said.

Bajaj FinServ's business plans continue to be "steady" even as fears of a slowdown are being expressed, he said. "The market is large enough for us to find our attractive business," he said adding that a lot remains to be done on the inflation front.

Bajaj Finserv posted a more than two times rise in its net profit at Rs158 crore in the second quarter of current fiscal on the back of sound rise in income in its general, and life insurance business among others. Net profit during the July-September period of the company was at Rs69 crore.

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