Daiwa launches asset management business in India; Fidelity MF launches India Children's Plan; Franklin Templeton MF floats Fixed Tenure Fund-Series XV; IDFC Mutual Fund launches Fixed Maturity Plan-Quarterly Series 62


Daiwa launches asset management business in India

Daiwa Asset Management Co Ltd (DAM), the asset management arm of the Japan-based Daiwa Securities Group, has launched its business in India. DAM manages over 300 funds investing in various asset classes with assets under management of over $115 billion.
Mr Toshiro Ishibashi, president, DAM, said, "This investment in India is of strategic importance to the Daiwa Securities Group as it gives us a foothold in potentially, one of the largest retail asset management markets in the world."
In March 2010, the Daiwa Securities Group had announced a buy-out of Shinsei Asset Management (India) Pvt Ltd. Post the completion of this acquisition in December 2010, the company has been renamed Daiwa Asset Management (India) Pvt Ltd.  
Consequent to the above acquisition, the other associated entities, Shinsei Trustee
Company (India) Pvt Ltd and Shinsei Mutual Fund along with three existing schemes have all been re-named as Daiwa entities.


Fidelity MF launches India Children's Plan

Fidelity Mutual Fund has launched Fidelity India Children's Plan, an open-ended balanced fund.
Education Fund seeks to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities and to generate reasonable returns through a portfolio of debt and money market instruments to help generating funds in the long term to save for the cost of children's education.
Marriage Fund seeks to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities and to generate reasonable returns through a portfolio of debt and money market instruments. The Fund could also additionally invest in domestic Gold ETFs. This could help generating funds in the long term to save for the cost of children's marriage.The new issue opens on 17th January and closes on 31st January. The minimum investment amount is Rs5,000.
Savings Fund seeks to generate reasonable returns predominantly from a diversified portfolio of debt and money market instruments.
The benchmark index for Education Fund is 70%-BSE 200 Index and 30%-CRISIL Short Term Bond Fund Index. For Marriage Fund: 70%-BSE 200 Index, 20%-Gold Prices and 10% - CRISIL Short Term Bond Fund Index. For Savings Fund: CRISIL Short Term Bond Fund Index.

Franklin Templeton MF floats Fixed Tenure Fund-Series XV

Franklin Templeton Mutual Fund has launched Franklin Templeton Fixed Tenure Fund (FTFTF)-Series XV (3 year plan), a close-ended income scheme.
The scheme seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure.The new issue opens on 17th January and closes on 31st January. The minimum investment amount is Rs10,000.

IDFC Mutual Fund launches Fixed Maturity Plan-Quarterly Series 62

IDFC Mutual Fund has launched IDFC Fixed Maturity Plan-Quarterly Series 62, 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 before the maturity of the scheme.The new issue opens on 17th January and closes on 18th January. The minimum investment amount is Rs10,000.