Banking, financial services fund by Birla Sun Life AMC
Birla Sun Life Asset Management Company has launched a Birla Sun Life Banking and Financial Services Fund, an open-ended scheme focused on the banking and financial services sector. The primary investment objective is to generate a long-term capital appreciation to unit holders from a portfolio that is invested in equity and equity-related securities of companies engaged in the sector. The NFO for the open-ended fund will close for subscription on December 9. The NFO price will be R10 per unit and the minimum amount that investors can invest in this fund is R5,000 and in multiples of R1 thereafter.
Deutsche MF introduces fixed-term fund
Deutsche Mutual Fund has launched the New Fund Offer of DWS Hybrid Fixed Term Fund – Series 19. Subscription to the close-ended fund will close on November 29. The minimum subscription is R5,000 and the scheme’s performance will be benchmarked against CRISIL MIP Blended Index.
Aegon Religare launches guaranteed growth plan
Aegon Religare Life Insurance has come out with a guaranteed growth plan for those looking at a steady return over the medium term while minimising risk. The plan offers the customer an eight-year premium paying term and a ten-year policy term. At the end of the policy term, the customer gets an annual return equivalent to 150% of the premium, paid for a period of eight years. In case of death of the life assured during the policy term, the future premiums are waived-off and the nominee will receive the guaranteed payouts, as scheduled, during the payout period. The nominee can also take the cash value of the death benefit at any point in time during the policy term.
Online term plan by Max Life Insurance
Max Life Insurance has launched an online term plan which offers protection through three different death benefit options. First is sum assured, the second is sum assured plus ‘monthly income’ which would take care of the monthly expenses, and thirdly, the ‘increasing’ monthly income will to take into account the growing household expenses. All these payouts, including monthly income, are tax free. Also on offer is a ‘Comprehensive Accident Benefit’ rider that provides benefits on dismemberment.
Franklin Templeton dividend under fixed-tenure fund
Franklin Templeton MF has declared dividend under the Franklin Templeton Fixed Tenure Fund-Series XVII’s dividend plan. The amount of dividend for individual is R0.311 a unit and for others is R0.298 unit on the face value of R10 per unit. The record date for the dividend is November 21 and the investment objective is to provide investors returns along with capital appreciation through equity exposure.
Tata Mid Cap Growth Fund declares dividend
Tata MF announces dividend at R1 per unit in Tata Midcap Growth Plan A-D and Tata Midcap Growth Direct-D and the record date is November 28.