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Money & Economy

HDFC Mutual Fund has launched HDFC Gold Exchange Traded Fund,an open-ended fund that will be available for subscription from June 25 to July 23.

Written by Express News Service | Published: June 28, 2010 4:02:08 am

HDFC Mutual Fund launches gold exchange-traded fund

HDFC Mutual Fund has launched HDFC Gold Exchange Traded Fund,an open-ended fund that will be available for subscription from June 25 to July 23. Investors will be allowed to make a minimum investment of Rs 5,000 in this scheme. Fund managers will invest 90 per cent to 100 per cent in gold bullion and up to 10 per cent in debt securities and money market Instruments.

ICICI Prudential MF revises exit load structure

ICICI Prudential Mutual Fund has revised the exit load structure of its Long-Term Floating Rate Plan,an open-ended debt scheme. As per the changes announced,the scheme will now charge an exit load of 0.25 per cent,if investments are redeemed within a month from the date of allotment. The revision is effective from June 23. The scheme is managed by Chaitanya Pande and benchmarked against Crisil Liquid Fund Index.

Religare Mutual Fund changes fund managers

Religare Mutual Fund has appointed Vinay Paharia as a co-fund manager for Religare Tax Plan. Paharia is also going to manage Religare Mid Cap and Religare Mid and Small Cap Fund from June 28. Also,from June 26 onwards schemes such as Religare Liquid Fund,Religare Ultra Short Term Fund,Religare Short Term Plan,Religare Active Income,Religare Overnight Fund,Religare Gilt Fund (Longer and Short Duration),Religare FMP Series II (A,B,C,E and F) will be managed by Ashish Nigam. The changes have been made following the resignation of Umesh Sharma,who has decided to move on.

Tata AIG General Insurance offers policies online

Tata AIG General Insurance has launched a new website that will allow its customers to buy and renew policies online,besides procuring quotes. The site,www.tataaiginsurance.in,is targeted at customers across all categories. Tata AIG managing director Gaurav D Garg said,“Urban India currently boasts of 60 million active Internet users,growing at 50 per cent annually. (It is) A huge opportunity for us to use the Internet to educate and engage with our customers on the Internet.”

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