Five new funds from Tata Mutual Fund
Tata Mutual Fund has announced five new offerings and one existing fund under a unique theme of Own a Piece of India, whereby investors have the choice to participate in India’s growth with a single investment across the schemes. The new family of funds include Tata Banking and Financial Services Fund, Tata India Consumer Fund, Tata Digital India Fund, Tata India Pharma & Healthcare Fund, Tata Resources & Energy Fund and the existing fund is Tata Infrastructure Fund. The NFO closes on December 18, 2015. Benchmarked against respective indices, the funds offers both growth and dividend options. The minimum minimum investment amount is Rs 5,000.
Future Generali Life launches flexi online plan
Future Generali India Life Insurance has launched Flexi Online Term Plan, which is a pure term plan available at a premium of Rs 4,000 for a Rs 1 crore cover. The plan is available only online. The plan will provide a steady return over the medium term while minimising risk. The plan offers an option of monthly income protection which provides a fixed sum of money until the retirement age (60 years) and acts as a substitute for the salary received every month.
ICICI Pru MF launches capital protection fund
ICICI Prudential Mutual Fund has launched Capital Protection Oriented Fund, a debt-oriented fund for 1,195 days. The fund will protect the capital by investing a part of the portfolio in debt securities and money market instruments and some in equities for capital appreciation. The debt securities would mature on or before the maturity of the scheme. The fund will close for subscription on December 22. The minimum investment is Rs 5,000.
UTI Mutual Fund rolls out fixed term plan
UTI Mutual Fund has launched Dual Advantage Fixed Term Fund Series for 1,997 days. The fund will invest in debt and equity instruments. Subscription to the fund will close on December 18 and the minimum amount of investment is Rs 5,000.
Exchange Traded Scheme from Edelweiss MF
Edelweiss Mutual Fund has come out with a exchange-traded scheme (banking), which would provide returns along the lines of the Bank Nifty subject to tracking errors. Subscription to the fund will close on December 14 and the minimum amount of investment is Rs 5,000.