SBI Mutual Fund launches SBI Debt Fund Series-18 Months–8

SBI MF new fund offer closes 20th October

SBI Mutual Fund has launched SBI Debt Fund Series-18 Months–8 scheme, a close-ended income scheme.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is 18 months.

The new issue closes on 20 October 2011. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.

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Union KBC MF launches 92 days fixed maturity plan

Union KBC MF new fund offer closes 19th October

Union KBC Mutual Fund has launched Union KBC Fixed Maturity Plan-92 Days-Series 1 a close-ended income scheme.

The investment objective of the scheme is to seek to generate income/capital appreciation by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is 92 days.

The new issue closes on 19 October 2011. The minimum investment amount is Rs10,000.

CRISIL Liquid Fund Index is the benchmark index. Devesh Thacker is the fund manager.

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SCI accepts delivery of mv SCI Ratna

With addition of mv SCI Panna, SCI’s fleet strength has increased to 82 vessels and has touched a new high of 5.827 million DWT

Shipping Corporation of India Ltd (SCI) had signed contracts for acquisition of four units newbuilding 80 T BP anchor handling, towing & supply vessels with Bharati Shipyard Ltd, India. The first vessel, “mv SCI Panna” was delivered to SCI on 23 August 2011 and the remaining two vessels are scheduled for delivery by the end of 2011.

The vessel has a gross tonnage of 2,039 tonnes and deadweight of 1,983 tonnes. The vessel has been classed with IRS, equipped with DP I system and has been built to comply with the latest and most stringent international regulations. In the offshore sector, SCI presently has a fleet of 11 vessels of which 10 vessels were acquired during the eighties. These vessels have been dedicatedly serving the oil exploration and production sector in India for the last 25 years. The four AHTSVs ordered with Bharati Shipyard are 1st phase replacement of SCI’s 10 AHTSVs & comply with superior specifications like dynamic positioning, reverse osmosis plant and UKOOA compliance as required by Indian E&P operators, etc. As a National carrier, SCI has been aiming to increase its presence in India’s offshore sector. To promote Indian Shipbuilding industry, SCI has ordered four AHTSVs of 120 BP capacity and two PSVs with Cochin Shipyard on nomination basis. The service of these vessels would be crucial to the E&P operators in the Indian Offshore sector. Apart from serving the nation’s interest, the vessel would also strengthen SCI’s fleet base as well as start a new era in its offshore segment.

SCI today has a diversified fleet of 82 vessels which includes 12 offshore supply vessels. With addition of this vessel, SCI’s fleet strength has increased to 82 vessels and has touched a new high of 5.827 million DWT. Acquisition of the vessel is in line with SCI’s strategy of maintaining a modern and young fleet of vessels. The Company has 27 vessels on order at present and 9 of these are scheduled for delivery by the end of 2011.

In the early afternoon, SCI was trading at around Rs70.85 per share on the Bombay Stock Exchange 0.78% up from the previous close.

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