JPMorgan Asset Management Company has launched India Top 100 Fund, an open-ended equity growth scheme that aims to provide capital appreciation by investing in select blue-chip and large-cap stocks, diversified across sectors. Subscription to the new fund offer will close on June 16. The funds investment objective will be to identify companies in the large-cap category that have superior growth potential based on strong fundamentals and management expertise and are considered leaders in their respective industries. It aims to predominantly adopt a bottom-up style of investing, focusing on balancing returns with less volatility. The AMC is launching the fund at a time when Indian stock markets are reasonably valued and are poised for an upturn, riding the optimism of the recently formed pro-growth government. If redeemed or switched out within 18 months from the date of allotment, the exit load is 1%. The initial application amount is R5,000.
ICICI Prudential AMC launches growth fund
ICICI Prudential Asset Management Company has launched a growth fund with the investment objective of providing capital appreciation by investing in a well-diversified portfolio of equity and equity related securities by investing in companies that could benefit from potential earnings expansion. The minimum investment in this three-year closed-ended equity fund is R5,000.
Sundaram MF declares dividends for 10 funds
Sundaram Mutual Fund has declared dividends for 10 equity funds. It has paid dividends to about 67% of its investors who have put money in the dividend option across equity schemes. The 10 equity funds are Select Mid Cap, Financial Services Opportunities Fund, Growth Fund, Select Micro Cap Series I, Select Micro Cap Series II, Rural India Fund, Equity Multiplier Fund, SMILE Fund, Tax Saver Fund and Select Micro Cap Series III.
Aegon Religare launches nominee card for claims
Aegon Religare Life Insurance has launched a nominee card to simplify the claims process. The card contains a barcode that connects the nominee directly to the claims website, where he can file the claim online. The barcode given on the card routes him to the company's website and provides a simple way to make a claim. Smartphone users can scan the barcode and directly visit the claims section to file a claim online through the phone. The unique selling point of the card is that while filing a claim, the nominee does not need to remember any of the policy details.
Reliance MF files for closed-ended fund
Reliance Mutual Fund has filed an offer document with the market regulator to launch a closed-ended income scheme, called Reliance Fixed Horizon Fund - XXVII. The price of the new fund offer is R10 per unit, and the schemes investment objective is to generate returns and grow capital by investing in a diversified portfolio of securities maturing on or before the date of maturity of the scheme. This particular feature is to limit interest rate volatility.