Religare Mutual Fund new issue closes on 14th June
Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series VIII-Plan A to F-Plan B (13 Months), a close-ended income scheme.
The investment objective of the plan is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.
The new issue closes on 14th June. The minimum investment amount is Rs5,000.
CRISIL Short-Term Bond Fund Index is the benchmark index. Nitish Sikand is the fund manger for the scheme.
Birla Sun Life Mutual Fund new issue closes on 9 June 2011
Birla Sun Life Mutual Fund has launched Birla Sun Life Short Term FMP-Series 16, a close-ended income scheme.
The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The new issue closes on 9 June 2011. The minimum investment amount is Rs5,000.
CRISIL Liquid Fund Index is the benchmark index. Kaustubh Gupta would be the fund manager of the scheme.
A unit linked life insurance plan that enables customers to catch up on lost time
Max New York Life Insurance has launched 'Fast Track Plan', a unit-linked life insurance plan that offers customers the opportunity to catch up on lost time.
The plan provides faster accumulation through choices of shorter policy tenure, faster and safer growth through fund options and an added feature of 'systematic transfer plan' to benefit from market volatility. The customer value proposition of 'Fast Track Plan' is further strengthened by its feature of wide range of protection multiple ranging from 1.25 times to 20 times of the annual premium depending on the payment term and age.
The product allows an entry age of up to 60 years with coverage up to age 70, and the flexibility to choose policy tenure and protection multiple to customers.
The consumer may also choose a protection multiple starting from 1.25 times to 20 times his annual premium amount. He may also choose added protection through personal accident benefit rider and dread disease rider.
The plan also provides free switching up to 12 times a year. It also offers premium redirection flexibility free of cost up to 12 times a year. The partial withdrawal feature allows the customers to withdraw from the fund value, once the policy completes five years.