Benchmark MF floats Infra BeES; Reliance MF introduces Reliance Index Fund-Sensex Plan; IndiaFirst launches Smart Save and Young India; MetLife India unveils Met Smart Platinum

Benchmark MF floats Infra BeES

Benchmark Mutual Fund has launched Infrastructure Benchmark Exchange Traded Scheme (Infra BeES), an open-ended exchange traded fund (ETF). The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the CNX Infrastructure Index by investing in the securities in the same proportion as in the index. The new fund offer (NFO) price is Rs10 plus premium per unit. Minimum investment amount is Rs10,000. The issue opens on 9 September 2010 and closes on 23 September 2010. The exit load for the scheme is nil. 

Reliance MF introduces Reliance Index Fund-Sensex Plan

Reliance Mutual Fund has introduced Reliance Index Fund-Sensex Plan, an open-ended growth scheme. The investment objective of the scheme is to replicate the composition of the Sensex, with a view to generate returns that are commensurate with the performance of the Sensex, subject to tracking errors. The scheme offers two options - growth and dividend. It opens on 9 September 2010 and closes on 23 September 2010. An exit load of 1% will be applicable if the units are redeemed on or before the completion of one year from the date of allotment. The new fund offer (NFO) price is Rs10 per unit. Minimum investment amount is Rs5,000. The benchmark index for the scheme is BSE Sensex.

IndiaFirst launches Smart Save and Young India

IndiaFirst Life Insurance has launched two new unit-linked insurance plans (ULIPs) - IndiaFirst Smart Save Plan and IndiaFirst Young India Plan. Both ULIPs - Smart Save Plan and Young India Plan provide insurance cover and market linked investments growth. Both plans provide customers the facility of loan and offer portability. They also offer the customer a choice to invest across five different funds. The minimum term of the Smart Save Plan is 15 years. The minimum term of the Young India Plan is 10 years. Young India Plan has an additional benefit equal to the sum of all future premium(s) payable on the life assured's death or disability due to an accident.

MetLife India unveils Met Smart Platinum

MetLife India Insurance has launched its first unit-linked insurance plan (ULIP) -Met Smart Platinum. The product is bundled with an investment strategy that incorporates event-based auto-rebalancing to ensure better risk-management while optimising returns. It offers customers the option to choose the allocation of desired percentages of their investment between a high risk fund (Flexi Cap) and a low risk fund (Protector II) depending on their risk appetite. The flexibility offered to the customers by Met Smart Platinum allows them to make top-up investments apart from allowing partial withdrawals in case the customer needs emergency liquidity of funds. The plan also allows customers to increase and decrease the life coverage depending upon their changing lifestyle needs as they cross different stages of their life.