Smart Money: Aviva launches products compliant with Irda norms

Updated: Nov 15 2013, 16:52pm hrs
Aviva Life Insurance has launched 13 products that are compliant with the new guidelines of Insurance Regulatory and Development Authority. The products will focus on providing higher minimum guarantee on premature withdrawal, higher life cover for customers and better surrender values.

Revival option of lapsed policies from Reliance Life

Reliance Life Insurance policy holders can revive their lapsed life insurance policies by paying the due premium without any penalty or medical tests. The new revival option will be open across all its insurance products till November 30.

Closed-ended income plan from ICICI Pru MF

ICICI Prudential MF has launched the new fund offer (NFO) of ICICI Prudential Capital Protection Oriented Fund IV. The NFO of the close-ended income scheme will close on November 21. The investment objective of the scheme is to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the plan under the scheme.

Franklin Asian Equity Fund declares dividend

Franklin Templeton MF has announced dividend at R0.974 per unit under Franklin Asian Equity Fund-D and Franklin Asian Equity Fund Direct-D. It is an open end diversified equity fund that seeks to provide medium- to long-term appreciation via investments primarily in Asian companies/sectors (excluding Japan) with long-term potential across market capitalisation. The record date for the dividend is November 15.

Birla Sun Life Mutual Fund launches Fixed Term Plan

Birla Sun Life MF has launched the new fund offer (NFO) of Birla Sun Life Fixed Term Plan Series IW for 368 days. The NFO for this close-ended income scheme will close on November 15 and the investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.

Reliance AMC launches R*Shares Nifty ETF

Reliance Capital Asset Management launched R*Shares Nifty ETF new fund offer (NFO), which is an open ended index ETF tracking Nifty Index. Subscription to the NFO will close on November 19 and the fund will help investor take exposure to broader market. To facilitate liquidity, R*Shares Nifty ETF can be transacted directly with the AMC at close to live rates in multiple of 50,000 units. R*Shares Nifty ETF will be listed on NSE.

Changes in Principal Mutual Fund schemes

Principal MF has announced that Systematic Investment Plan facility will be available under Principal Cash Management Fund and Principal Retail Money Manager Fund from November 13. Unit holders of the scheme can opt to invest a specified amount subject to a minimum of six installments of R500 each.