Deutsche MF launches DWS Hybrid Fixed Term Fund-Series 1; L&T Mutual Fund introduces new fixed maturity plan; DSP BlackRock MF unveils DSP BlackRock FMP-3M-Series 19; HSBC Mutual Fund revises exit load structure under two schemes; Birla Sun Life MF declares dividend under two schemes; ICICI Prudential Life launches iProtect

Deutsche MF launches DWS Hybrid Fixed Term Fund-Series 1

Deutsche Mutual Fund has launched a new fund called DWS Hybrid Fixed Term Fund-Series 1. The fund is a close-ended income scheme. The new issue opens on 23 August 2010 and closes on 6 September 2010. The new fund offer (NFO) price for the scheme is Rs10 per unit. The minimum subscription amount for the scheme is Rs5,000. The entry and exit load for the scheme is nil. The investment objective of the scheme is to generate income by investing in high quality fixed income securities maturing on or before the date of the maturity of the scheme. The scheme also aims to generate capital appreciation by investing in equity and equity related instruments.

L&T Mutual Fund introduces new fixed maturity plan

L&T Mutual Fund has introduced a new fund called L&T FMP- I (August125D A). The fund is a closed ended income scheme having a tenor of 125 days. The new issue opens for subscription on 23 August 2010 and closes on 25 August 2010. The new fund offer (NFO) price for the scheme is Rs10 per unit. The duration of the scheme is 125 days. The scheme offers two options-growth and dividend (payout) option. The minimum application amount is Rs5,000 and in multiples of Re1 thereafter. The fund seeks to collect a minimum target amount of Rs1 crore under the scheme during the NFO period. Entry and exit load charge will be nil for the scheme. The investment objective of the scheme is to achieve growth of capital by making investments in debt/fixed income securities maturing on or before the maturity of the scheme.

DSP BlackRock MF unveils DSP BlackRock FMP-3M-Series 19

DSP BlackRock Mutual Fund has unveiled DSP BlackRock FMP-3M-Series 19. The fund is a close ended income fund. The new issue opened for subscription on 20 August 2010 and will close on 25 August 2010. The new fund offer (NFO) price for the scheme is Rs10 per unit. The minimum subscription amount for the scheme is Rs10,000 and in multiples of Rs10 thereafter. The investment objective of the schemes is to seek capital appreciation by investing in debt and money market securities maturing on or before the date of maturity of the schemes.

HSBC Mutual Fund revises exit load structure under two schemes

HSBC Mutual Fund has revised the exit load structure under its two schemes-HSBC Ultra Short Term Bond Fund and HSBC Income Fund-Short Term Plan. As per the revision, HSBC Ultra Short Term Bond Fund will charge 0.25%, if the investment is redeemed within 15 days from the date of allotment of units. HSBC Income Fund-Short Term Plan will charge 0.25%, if the investment is redeemed within three months from the date of allotment of units. The revision is effective from 23 August 2010. Both schemes are benchmarked against CRISIL Short Term Bond Fund Index. 

Birla Sun Life MF declares dividend under two schemes

Birla Sun Life Mutual Fund has announced dividend under its two schemes namely Birla Sun Life MNC Fund and Birla Sun Life India Opportunities Fund. The quantum of dividend decided for Birla Sun Life MNC Fund is Rs5.25 per unit and for Birla Sun Life India Opportunities Fund is Rs1.25 per unit on the face value of Rs10 per unit. The record date decided for distribution of dividend for the schemes is 27 August 2010. Both the schemes are open ended equity schemes.

ICICI Prudential Life launches iProtect

ICICI Prudential Life Insurance Company Ltd has launched iProtect-an online term insurance plan. An individual can apply online for iProtect and the payment can be made either through his/her Internet banking account or credit card. The life cover commences as soon as the premium is paid. Upto a certain limit, the life cover can be bought immediately without the need for any medical tests. Above this limit also, the entire transaction can be finished online but the cover will start post a medical test. The policy can be bought online as no physical documentation is required. iProtect provides financial security to the family of the policy holder in the event of his untimely death. In case of such an eventuality, the nominee will receive the entire sum assured. The entry age for a customer is a minimum of 20 years and a maximum of 65 years with a minimum policy term of 10 years and a maximum of 30 years. The maximum age at policy expiry is 75 years.