Sundaram MF launches Sundaram Fixed Term Plan-AQ; Fidelity MF unveils Short Term Income Fund; Sundaram MF floats Sundaram Fixed Term Plan-AR; HDFC Life launches single premium ULIP ProGrowth Maximiser; IndiaFirst Life Insurance introduces 'Ask Apply Get' service
Sundaram MF launches Sundaram Fixed Term Plan-AQ
Sundaram Mutual Fund has launched Sundaram Fixed Term Plan-AQ, a close-ended income scheme.
The investment objective of the scheme is to generate income with minimum volatility by investing in debt and money-market securities, which mature on or before the maturity of the scheme.
The scheme offers growth and dividend (payout) option. During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The scheme opens on 19th November and closes on the same day. The minimum investment amount is Rs5,000. The minimum targeted amount is Rs1 crore for the scheme.
CRISIL Short-Term Bond Fund Index is the benchmark index. The scheme will be managed by Dwijendra Srivastava, head-fixed income securities.
Fidelity MF unveils Short Term Income Fund
Fidelity Mutual Fund has launched Fidelity Short Term Income Fund, an open-ended income fund.
The investment objective of the scheme is to generate reasonable returns primarily through investments in fixed-income securities and money-market instruments.
During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The NFO opens on 19th November and closes on 30th November.
An exit load of 0.5% will be charged if units are redeemed within six months from the date of allotment. The scheme offers growth and dividend option. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. The scheme will be managed by Shriram Ramanathan.
Sundaram MF floats Sundaram Fixed Term Plan-AR
Sundaram Mutual Fund has launched Sundaram Fixed Term Plan-AR, a close-ended income scheme.
The investment objective of the scheme is to generate income with minimum volatility by investing in debt and money-market securities, which mature on or before the maturity of the scheme.
During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The NFO opens on 19th November and closes on 26th November. The scheme offers growth and dividend (payout) option. The minimum investment amount is Rs5,000. The minimum targeted amount is Rs1 crore for the scheme.
CRISIL Short-Term Bond Fund Index is the benchmark index. The scheme will be managed by Dwijendra Srivastava-head-fixed income securities.
HDFC Life launches single premium ULIP ProGrowth Maximiser
Private insurer HDFC Life has launched a single premium unit-linked insurance plan (ULIP) 'ProGrowth Maximiser', with multiple investment options.
ProGrowth Maximiser provides three investment options-highest net asset value (NAV) guarantee, capital guarantee and free asset allocation. The plan provides customers the flexibility to choose from multiple investment options as per their needs and risk appetite. The plan has both the limited underwriting and the fully underwritten versions.
IndiaFirst Life Insurance introduces 'Ask Apply Get' service
IndiaFirst Life Insurance has launched 'Ask Apply Get' (AAG)-a customer friendly process to buy life insurance quickly in the most hassle free manner.
Through this initiative, customers will be able to get life insurance cover almost instantly, without the hassles of long waiting period, follow ups, heavy documentation and medical checkups.
The concept of AAG policy sales and issuance from across the bank branch counters brings about a new dimension in life insurance distribution. This concept challenges the hitherto push method of selling insurance (a customer needs to be sold a policy) to developing a new paradigm of generating pull (a customer coming and asking for an insurance policy and getting it in the fastest and most hassle free way).
IndiaFirst has launched its AAG process pan India across all 4,500 branches of Bank of Baroda and Andhra Bank.
"Traditionally, the task of selling insurance lies with the sales person. We are now attempting a different approach where we are inviting the customer to take a step forward and ask for the product, on the premise that if the process of buying is made simpler and faster the pull for the product will definitely increase. We are looking at the 1,00,000 policies mark with an average premium of Rs25,000 through this process by the end of the financial year," added Dr P Nandagopal, managing director & CEO, IndiaFirst Life Insurance.
Customers, who fulfill the eligibility criteria, can avail the benefits of the AAG process. It is an easy and customer-friendly process wherein on submission of the duly filled proposal form, the requisite premium cheque and having completing the call centre call, customers walk out with their plan documents handed over the counter.
At present, the AAG process is available for the IndiaFirst Smart Save Plan and the IndiaFirst Young India Plan. The company plans to soon offer all its products through this process.
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