Reliance Mutual Fund floats Fixed Horizon Fund-XIX-Series 21

Reliance Mutual Fund new issue closes on 11th July

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XIX-Series 21, a close-ended income scheme.

The investment objective of the scheme is to generate regular returns and growth of capital by investing in government securities and other fixed income/debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. The tenure of the scheme is 727 days.

The new issue closes on 11th July. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund    Index is the benchmark index. Amit Tripathi is the fund manager.

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BNP Paribas MF unveils Fixed Term Fund-Series 22 B

BNP Paribas Mutual Fund new issue closes on 11th July

BNP Paribas Mutual Fund has launched BNP Paribas Fixed Term Fund-Series 22 B, 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 tenure of the scheme is 369 days.

The new issue closes on 11th July. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Alok Singh is the fund manager.

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IRDA postpones launch of health insurance portability to 1st October

Earlier, IRDA had announced that it would implement health insurance portability from 1st July

Insurance Regulatory and Development Authority (IRDA) has postponed implementation of portability of health insurance policies across non-life insurance companies to 1st October.

Earlier, IRDA had announced that it would implement health insurance portability, which allows a customer to shift from one insurer to another while retaining the policy, from 1st July.

IRDA has embarked upon providing a web-based facility for insurers to feed in all relevant details on health insurance policies issued by them to individuals which will be accessed by the new company to which a policyholder wishes to port his policy.

Such a system will enable the new insurer to obtain efficiently data on history of health insurance of the policyholder wishing to port. Such a facility is necessary to enable the smooth running of the system.

"The web-enabled facility is being established by IRDA and the Authority will implement portability of health insurance policies across non-life insurers in the country not later than 1 October 2011," IRDA said in a release.

IRDA said the modalities of portability to be effective and consumer friendliness have been discussed with the non life insurers in the country.

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COMMENTS

Nagesh KiniFCA

5 years ago

Just because the mobile mobility has succeeded,it can't be said the same of health insurance portability.
IT IS LIKE COMPARING APPLES WITH ORANGES.
Only when there is just one frill less vanilla product with standard common covers can portability kick off. otherwise it is sure to abort at take off. a still born, as simple at that.
why is IRDA not inviting suggestions and objections? High time.

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