MoneyGram and Bank of Baroda to offer remittances; Fidelity MF unveils Fixed Maturity Plan Series IV-Plan B; ICICI Pru MF changes benchmark indices for Advisor Series; IDFC Mutual Fund revises exit load for Ultra Short Term Fund Karvy Computershare launches "K-ATOM" to provide MF services on mobile phones

MoneyGram and Bank of Baroda to offer remittances

MoneyGram International and Bank of Baroda have joined forces to provide global money transfer services. Bank of Baroda will soon offer MoneyGram money transfer services at 2,000 locations across India.

"We are glad to add MoneyGram services to our Bank branches in key locations specifically in Ahmedabad, Bengaluru, Vadodara, Chennai, Delhi, Hyderabad, Kerala, Kolkata, and Mumbai," said  NS Srinath, executive director of Bank of Baroda. The service would be available in a month's time. An individual can receive total 12 transactions in a year.

Fidelity MF unveils Fixed Maturity Plan Series IV-Plan B

Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan Series IV-Plan B, a close-ended income scheme.

The investment objective of the plan is to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short to mid term debt instruments having maturity, on or before the date of maturity of a plan. The tenure of Plan B shall be 94 days from the date of allotment.

The new fund offer opens on 24th November and closes on 25th November. The minimum investment amount is Rs5,000. The exit load for the scheme is nil.

The plan will be benchmarked against CRISIL Liquid Fund Index. The plan will be managed by Shriram Ramanathan and Mahesh Chhabria (assistant fund manager).

ICICI Pru MF changes benchmark indices for Advisor Series

ICICI Prudential Mutual Fund has changed the benchmark indices for ICICI Prudential Advisor Series with effect from 24th November.

For Very Cautious Plan under the scheme, 70% of the proposed allocation will be benchmarked against CRISIL Composite Bond Fund Index and 30% against CRISIL Liquid Fund Index.

For Cautious Plan, 20% of the proposed allocation will be benchmarked against S&P CNX Nifty, 60% against CRISIL Composite Bond Fund Index, 10% against CRISIL Liquid Fund Index and 10% against Gold.

For Moderate Plan, 40% of the proposed allocation will be benchmarked against S&P CNX Nifty, 40% against Composite Bond Fund Index, 10% against CRISIL Liquid Fund Index and 10% against Gold.

For Aggressive Plan, 50% of the proposed allocation will be benchmarked against S&P CNX Nifty, 30% against Composite Bond Fund Index, 5% against CRISIL Liquid Fund Index and 15% against Gold.

For Very Aggressive Plan, 75% of the proposed allocation will be benchmarked against S&P CNX Nifty, 5% against Composite Bond Fund Index, 5% against CRISIL Liquid Fund Index and 15% against Gold.

IDFC Mutual Fund revises exit load for Ultra Short Term Fund

IDFC Mutual Fund has revised the exit load structure for IDFC Ultra Short Term Fund with effect from 24th November. Accordingly, the exit load for all investment including SIP/Micro SIP/STP shall be 1% of the applicable net asset value (NAV) if redeemed/switched out within 31 days from the allotment date. 
 
Karvy Computershare launches "K-ATOM" to provide MF services on mobile phones

Karvy Computershare has launched easy to use mobile interface K-ATOM (KarvyMFS Any Time On Mobile). This will enable mutual fund investors to access latest net asset values (NAVs), trigger a mail back request for an account statement or request for a consolidated statement, locate closest Karvy Investor Service Center and do much more with a simple click of their mobile phone.
The new facility also comes as an added advantage to the distributors of MF who can now access the official consolidated account statements of their distributed MF and therefore extend upon their 'goodwill' service towards their investors.