SBI Mutual Fund launches Debt Fund Series 180 Days 18

SBI Mutual Fund new issue closes on 11th May

SBI Mutual Fund has launched SBI Debt Fund Series 180 Days 18, a close-ended income scheme.

The minimum investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, AAA/AA+ bonds and money market instruments maturing on or before the maturity of the scheme.

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

CRISIL Liquid Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.

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Religare Mutual Fund floats 369 days fixed maturity plan

Religare Mutual Fund new issue closes on 11th May

Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series VII-Plan A to F-Plan C (369 Days), a close-ended income scheme.

The investment objective of the scheme 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 11th May. The minimum investment amount is Rs5,000.

Nitish Sikand is the fund manger for the scheme. CRISIL Short-Term Bond Fund Index is the benchmark index.

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BSE to waive annual charges for WDM trade

BSE has decided to waive off the annual subscription fee of Rs25,000 for its wholesale debt market (WDM) trading members. At the same time, the bourse has also lowered the net worth requirement drastically from Rs1.5 crore to Rs30 lakh

New Delhi: Bombay Stock Exchange (BSE), India’s oldest stock exchange, is looking to revive its wholesale debt trading platform with the waiver of annual charges and lower net worth requirements for those willing to trade on the bourse, reports PTI.

The exchange has decided to waive off the annual subscription fee of Rs25,000 for its wholesale debt market (WDM) trading members, the BSE said in a circular.

At the same time, BSE has also lowered the net worth requirement drastically from Rs1.5 crore to Rs30 lakh only.

The transaction charges would be levied at a rate of 0.01% of the traded value, or Rs50 per trade, whichever is lower, and the cumulative annual charge for any member would be capped at Rs1 lakh.

The WDM segment allows institutional investors such as banks, primary dealers and financial institutions in India to undertake transactions in debt instruments among themselves or with non-bank clients through the members of BSE.

BSE’s larger rival, the National Stock Exchange (NSE), has fixed the net worth requirement at Rs2 crore for the WDM segment, while the annual subscription charges are Rs1 lakh.

At the NSE, the average daily transaction value in the WDM segment is Rs2489.49 crore for the current fiscal. In the last fiscal ended 31 March 2011, the exchange registered a net traded value of about Rs6,00,000 crore.

While the figures were not available for the BSE, the exchange says that its WDM segment has shown “a gradual but consistent growth in turnover in the past few years with increased participation from the mainstream banking and institutional players.”

“This segment expects a sustained rise in turnover and participation in the coming years with the initiation of activity by new members and the continued support and participation of major banks, primary dealers and financial institutions,” the BSE said.

BSE began trading in wholesale debt securities in June 2001, although the government securities market is the largest and oldest component of the Indian debt market and has been in place at the BSE since the beginning of the 19th century.

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