ACE Commex launches futures trade in 5 agri items; Deutsche MF launches DWS Fixed Term Fund-Series 76; Fidelity MF unveils Fidelity Fixed Maturity Plan-Series IV-Plan A; Principal MF introduces Principal Pnb Fixed Maturity Plan-91 Days-Series XXV; Sundaram MF floats Sundaram Fixed Term Plan-AP

ACE Commex launches futures trade in 5 agri items

Kotak Group-promoted ACE Commodity Exchange today kick started as the country's fifth national commodity bourse with the launch of futures trading in five agricultural items - castor seed, chana, soyabean, mustard seed and refined soy oil.
In the opening hour of the trade, futures trading was more active in the December contracts of all five agri-commodities, though the November 2010 and January 2011 contracts were also available for traders.
According to the exchange data, the castor seed contract for December expiry opened at Rs3,442 per quintal, chana at Rs2,440 per quintal, soyabean at Rs2,244 per quintal, mustard seed at Rs573 per 20 kg and refined soy oil at Rs545.9 per 10 kg.
At 11 hours, the trade volumes in the December contract of soybean was 144 tonnes, refined soy oil at 76 tonnes, chana at 59 tonnes, castor seed at 60 tonnes and mustard seed at 35 tonnes.
The exchange, which has upgraded itself to a national exchange from a regional exchange, earlier Ahmedabad Commodity Exchange, has applied with the sector regulator Forward Market Commission (FMC) for permission to offer non-agricultural items like crude, gold and bullion.
Presently, Kotak Group is the anchor investor in ACE Commodity Exchange with a 51% stake, while Haryana's Hafed has a 15% interest and banks like Bank of Baroda, Union Bank and Corporation Bank have an over 14% stake.
The remaining equity is held by Ahmedabad Commodity Exchange members. 
The other four national commodity exchanges are NMCE, MCX, NCDEX and ICEX.

Deutsche MF launches DWS Fixed Term Fund-Series 76

Deutsche Mutual Fund has launched DWS Fixed Term Fund-Series 76, one year close-ended income scheme. The objective of the fund is to generate regular income by investing in debt and money-market instruments maturing on or before the date of the maturity of the scheme. The scheme will invest 100% in domestic debt instruments having low to medium risk.
During the new fund offer, the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend (payout) options. The scheme opens on 27th October and closes on 28th October. The exit load for the scheme is nil. The minimum investment amount is Rs5,000. The minimum target amount is Rs1 crore.
CRISIL Short Term Bond Index is the benchmark index. The scheme will be managed by Avnish Jain.

Fidelity MF unveils Fidelity Fixed Maturity Plan-Series IV-Plan A

Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan-Series IV-Plan A, a close-ended income scheme. The primary objective of the scheme is to generate reasonable returns and reduce interest rate volatility through investment in money market and short- to mid-term debt instruments having maturity, on or before the date of maturity of a plan.
During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend (payout) options. The scheme has tenor of 94 days. The scheme opens on 27th October and closes on 28th October. The minimum investment amount is Rs5,000. The exit load for the scheme is nil. CRISIL Liquid Fund Index is the benchmark index. The scheme will be managed by Shriram Ramanathan and Mahesh Chhabria. 

Principal MF introduces Principal Pnb Fixed Maturity Plan-91 Days-Series XXV

Principal Mutual Fund has launched Principal Pnb Fixed Maturity Plan-91 Days-Series XXV, a close-ended income scheme.
The investment objective of the scheme is to build an income-oriented portfolio and generate returns through investment in debt/money-market instruments and government securities.
During the new fund offer, the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend options. The scheme opens on 27th October and 28th October. The exit load for the scheme is nil. The minimum investment amount is Rs5,000. The minimum target amount is Rs35 crore. CRISIL Liquid Fund Index is the benchmark index. The scheme will be managed by Shobit Gupta.

Sundaram MF floats Sundaram Fixed Term Plan-AP

Sundaram Mutual Fund has launched Sundaram Fixed Term Plan-AP, a close-ended income scheme.
The investment objective 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, the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend (payout) options. The scheme opens on 27th October and 29th October. The minimum investment amount is Rs5,000. The exit load for the scheme is nil.
CRISIL Short-Term Bond Fund Index is the benchmark index. The scheme will be managed by Dwijendra Srivastava.