Future Generali launches new unit-linked insurance scheme Future Generali India Life Insurance Company has launched Future Generali NAV Assure,a unit-linked insurance plan. The product guarantees the highest net asset value (NAV) recorded on daily basis during the first seven years of the policy or at maturity date,whichever is higher. Future Generali is a joint venture between Future Group of India and Generali Group of Italy Canara Robeco Mutual Fund launches Large Cap+ Fund Canara Robeco Mutual Fund has launched Canara Robeco Large Cap+ Fund,a new open-ended equity scheme. The scheme will invest in companies having large market capitalisation. Up to 65 per cent of the assets will be invested in large cap equity stocks and up to 35 per cent in domestic debt and money market instruments. The new fund offer will be available for subscription from June 28 to July 27 and allows a minimum investment of Rs 5,000. It will charge an exit load of 1 per cent,if the investments are redeemed within a year from the date of allotment. It will be managed by Anand N Shah and benchmarked against BSE 100. Taurus Mutual Fund launches Taurus MIP Advantage Taurus Mutual Fund has launched a new open-ended income scheme,Taurus MIP Advantage. The new fund offer is open for subscription from June 29 to July 23. The minimum investment amount for the growth option is Rs 5,000 and Rs 10,000,in case of the dividend option. The scheme will invest in a portfolio of fixed income securities,gold ETFs and equity and equity-related instruments. The scheme will allocate 65 per cent to 95 per cent of assets in debt and money market instruments,up to 25 per cent in equities and 5 per cent to 25 per cent in gold ETFs. Redemption before one year from the date of allotment will attract an exit load of a per cent. The scheme will be managed by Rahul Pal and Sadanand Shetty and benchmarked against CRISIL MIP Blended Fund Index and price of gold. Franklin Templeton MF revises exit load structure under its schemes Franklin Templeton Mutual Fund has planned to revise the exit load structure under its schemes,Templeton India Ultra short Bond Fund and Templeton Floating Rate Income Fund - Long Term Plan. As per the revision,Templeton India Ultra-short Bond Fund will not charge any exit load and Templeton Floating Rate Income Fund - Long Term Plan will charge an exit load of 0.25 per cent,if the investments are redeemed within 30 days from the date of allotment. The revision is effect from June 30. Both the schemes are managed by Sachin Padwal-Desai and Pallab Roy and benchmarked against CRISIL Liquid Fund Index. Axis Mutual Fund launches Axis Triple Advantage Fund Axis Mutual Fund has launched a new open ended scheme,Axis Triple Advantage Fund. The new fund offer will be available from June 30 to July 29. The minimum investment amount of the scheme is Rs 5,000. The scheme would allocate 30 per cent to 40 per cent of assets in equities and 30 per cent to 40 per cent in debt and money-market instruments. It would further allocate 20 per cent to 30 per cent of assets in gold exchange traded funds with medium risk profile. The scheme will charge an exit load charge of a per cent,if investment is redeemed within a year from the date of investment. The scheme will be managed by Chandresh Nigam and Ninad Deshpande and benchmarked against S&P CNX Nifty,CRISIL Composite Bond Fund Index and Price of Gold. Benchmark Mutual Fund launches Short Term Fund Benchmark Mutual Fund has launched a new open-ended debt scheme,Benchmark Short Term Fund. The new fund offer will be available from June 29 to July 12 and allow minimum investment of Rs 10,000. The scheme would allocate up to 100 per cent of assets in debt instruments having residual maturity of up to 1 year and invest up to 50 per cent of assets in debt instruments with a residual maturity between 1 and 3 years. Debt instruments may include securitised debts up to 50 per cent of the net assets. The scheme will be managed by Payal Kaipunjal and benchmarked against CRISIL Liquid Fund Index. HDFC Mutual Fund revises exit load structure under Short Term Plan HDFC Mutual Fund has planned to revise the exit load structure under its scheme HDFC Short Term Plan. As per the revision,scheme will charge an exit load of 0.50 per cent,if investments are redeemed within six months from the date of allotment. The revision will be effective from July 1. Currently,the scheme charges 0.50 per cent exit load,if investments are redeemed within three months from the date of allotment. HDFC Short Term Plan is an open-ended income scheme with an investment objective to generate regular income through investment in debt securities and money-market instruments. The scheme is managed by Anil Bamboli and Anand Laddha and benchmarked against CRISIL Short-Term Bond Fund Index.
