ICICI Prudential launches entry trigger facility

ICICI Prudential has introduced an entry trigger facility in its ICICI Prudential Target Returns Fund,India8217;s first trigger-based mutual fund. The entry trigger facility enables an investor to switch from five pre-selected debt schemes to the Target Return Fund on achieving pre-defined trigger levels in the Target Returns Fund. The investor can choose trigger levels based on either BSE Sensex values in multiples of 100 or percentage drop 5,10,15 and 20 per cent in the net asset value NAV of the Target Returns Fund.

ICICI Prudential Mutual Fund had launched ICICI Prudential Target Returns Fund in April 2009 with an in-built trigger. This product offers investors the option to switch either their entire investment including appreciation or only the appreciation to pre-selected debt funds once the chosen trigger options include 12 per cent,20 per cent,50 per cent and 100 per cent set by the investor is achieved. With the introduction of the entry trigger facility,investors can use dual triggers.

HDFC introduces dual-rate home loan product

Housing finance company HDFC has launched a home loan product where the rate of interest will remain fixed at 8.25 per cent till March 31,2012. The existing floating rate will apply for the balance of the loan term. The 8.25 per cent fixed rate will apply for all new loans irrespective of the loan amount. This rate will apply to all new home loan customers who apply for the loan before January 31,2010 and take at least part of the disbursement before March 31,2010.