Smart Money: IDFC Mutual Fund launches FMP

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SummaryIDFC Mutual Fund has launched a closed-ended fixed-maturity plan.

IDFC Mutual Fund has launched a closed-ended fixed-maturity plan. The subscription for the new fund offer closes on September 25. The minimum investment is R10,000. The objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.

Reliance MF’s fixed-horizon fund

Reliance MF has launched a 368-day fixed-horizon fund. The subscription for the closed-ended NFO closes on September 24 and the minimum investment amount is R5,000. The objective of the fund is to generate returns and growth of capital by investing in a diversified portfolio of Central and state government securities and other fixed income/debt securities that are maturing on or before the date of maturity of the scheme.

JPMorgan MF declares dividend

JPMorgan Mutual Fund has declared dividend under the JPMorgan India Income Fund Series 501. The gross dividend on the face value of R10 per unit will be R0.30 per unit. The record date for dividend is September18. The investment objective is to generate income through investments in debt securities/money market instruments and government securities maturing on or before the maturity date of the scheme.

ICICI Prudential MF declares dividend

ICICI Prudential Mutual Fund has declared dividend under the ICICI Prudential Fixed Maturity Plan for the Series 63-750-day plan. The recommended rate of dividends on the face value of R10 per unit will be R0.05 per unit and the record date for dividend is September 16. The investment objective is to generate regular returns by investing in a portfolio of fixed-income securities/debt instruments maturing on or before the maturity of the plan.

Changes in Kotak Equity Arbitrage Fund

Kotak MF has announced that from September 13, 2013, the fund house will accept fresh applications for subscription of units (including additional purchases, switch-ins and fresh SIP/STP registrations) in Kotak Equity Arbitrage Fund without the maximum cap of R1 crore as per the company's earlier notice. The scheme is an open-ended one with the objective of generating capital appreciation and income by investing in arbitrage opportunities in the cash and derivatives segments of the equity market, and the balance in debt and money market instruments.

HDFC ERGO’s portfolio organiser

HDFC ERGO General Insurance has launched Insurance Portfolio Organiser that is compatible with all platforms like Android, Blackberry, Windows-based devices and on apple devices. HDFC ERGO policyholders can get access policy related information, view heath card, register motor and health claims and track claim status. Insurance Portfolio Organiser can be viewed from any GPRS, Wi-fi and mobile data service-enabled mobile phone.

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