Reliance MF’s ‘Nivesh Lakshya’

Reliance Mutual Fund has launched a ‘Reliance Nivesh Lakshya Fund’, an open-ended debt scheme that aims to capture the prevailing long-term yields by investing in 25 to 30-year Government Securities (G-Sec) for attaining long-term goals of investors. It is a semi-passively managed debt fund — most of the securities would be held till maturity. The Macaulay duration of the portfolio will be maintained at greater than seven years. The fund tries to take advantage of the prevailing high yields by investing in the long-term Government of India bonds with maturities ranging from 25-30 years, which are trading at yields of 8.20-8.30 per cent levels. The scheme is expected to be an alternative to long-term FDs (the 10-year FD interest rate is 6-6.5 per cent), tax-free bonds (around 6.25 per cent), RBI taxable bonds (7.75 per cent), endowment and annuity products. The scheme will remain open for subscription until July 2.

Canara HSBC Oriental Bank of Commerce Life Insurance’ new ULIP ‘Titanium Plus Plan’ offers life protection with flexibility in the payment terms. This is a Type 1 ULIP plan. In case of death, the nominee will get the higher of the sum assured or fund value or 105 per cent of all premiums paid. On maturity, the policy holder will receive the fund value, based on the prevailing NAVs. The policy holder can choose the life cover based on the protection amount needed and gets an option of increasing or decreasing life cover to match his/her protection requirements during the Policy Term. This plan offers the flexibility to choose from a range of 7 unit linked funds, including Emerging Leaders Equity, India Multi-Cap Equity, Equity II, Growth Plus, Balanced Plus, Debt and Liquid Fund. Premium allocation and policy administration are applicable. The ULIP charges 1.35 per cent as fund management charge on equity-oriented funds.

COMMENT NOW