Rubber Board launches group life insurance scheme for tappers

The minimum contribution for membership in the scheme is Rs300 per year

The Rubber Board has launched a group life insurance-cum-terminal benefit scheme for tappers working in the small holding sector.

The scheme, being implemented in collaboration with LIC, provides insurance cover for natural and accidental deaths, compensation for disabilities due to accidents and terminal benefits for the members.

In addition, members' children studying from Classes 9 to 12 will be eligible for an educational scholarship. Board chairperson Sheela Thomas, said membership is limited to tappers in the 18-59 age group.

However those without insurance cover could remit their contribution to the retirement scheme till age 65. The scheme offers Rs35,000 for death due to natural causes, Rs80,000 for accidental death, Rs37,500 for the loss of a limb due to accident and Rs75,000 for loss of two limbs.

The minimum contribution for membership in the scheme is Rs300 per year. Of this, Rs133 will be accounted as premium and Rs167 as contribution to the terminal benefit fund. The board's contribution has been fixed at Rs200, she said.

For tappers that have membership in tappers bank, the Rubber Producers' Societies concerned will remit Rs2,000 per year as their contribution, she added.

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Kotak Mahindra MF floats 370 days fixed maturity plan

Kotak Mahindra Mutual Fund new issue closes on 20th July

Kotak Mahindra Mutual Fund has launched Kotak FMP Series 54 (370 Days), a close-ended income scheme.

The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme. The tenure of the scheme is 370 days days.

The new issue closes on 20th July. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Index is the benchmark index. Deepak Agarwal and Abhishek Bisen are fund managers.

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Despite rebound, asset managers face challenges to building on growth, says BCG

“Investors are becoming ever more demanding. The question of how to achieve further growth in both mature and emerging markets is a daunting one. Asset managers will need to forge strategies to build on the successes we have seen,” says Kai Kramer, a BCG partner

Asset managers had a better year in 2010 than in 2009, confirming the rebound from the global financial crisis. But building on the recovery and achieving growth trajectory will remain a challenge, according to the report- Building on Success: Global Asset Management 2011-released by the Boston Consulting Group (BCG).

According to the report, the global value of professionally managed assets rose by 8% to $56.4 trillion in 2010. The increase-which followed a gain of 13% in 2009 and a decline of 17% in 2008-was driven by the recovery of equity markets, with net new inflows remaining marginally positive.

There was wide regional variation in AuM expansion in 2010, the report says. Latin America, with an increase of 18%, posted the strongest growth. In North America, AuM rose by 8%. AuM in Europe rose by 7. Japan and Australia posted a combined AuM increase of 2% (1% and 4%, respectively), while AuM rose by 11% in the rest of Asia. Kai Kramer, a BCG partner, says, "Investors are becoming ever more demanding. The question of how to achieve further growth in both mature and emerging markets is a daunting one. Asset managers will need to forge strategies to build on the successes we have seen."

The post-crisis evolution of the global asset-management market is reflected by the following trends: Investor demands keep toughening. Although markets have improved, the pressure from investors-both institutional and retail-for performance and transparency has not let up. Product dynamics continue to shift. Many product shifts observed before the crisis began have continued through 2009 and 2010 and into 2011. One key ongoing trend is the faster growth of passively managed and alternative products, compared with actively managed products.

The role of regulation is increasing. Governments and regulatory bodies have pledged to keep a sterner eye on banks, insurers, asset managers, and other providers of financial services. Financial regulation aimed at asset management clients-which forces asset managers to adjust and upgrade their services, often raising costs-may have a bigger impact on the industry than regulation aimed at asset managers.

Mature markets such as North America, Europe, Australia and Japan-where penetration of some asset-management products is stagnating-will likely grow at a modest pace overall. Developing markets such as Latin America and many parts of Asia will likely grow at a faster pace.

To pursue growth in home markets, asset managers need to take concrete steps. These include developing crystal-clear value propositions; focusing more on the end customer, and streamlining the product portfolio. To pursue growth across borders, asset managers must develop a clear view about which markets they would like to enter given their current capabilities and resources. Finally, they must decide where they do not want to be in terms of regions, products and client segments.

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