Mutual Fund Draft Offer Documents - March 3, 2008
Draft offer documents for the following mutual fund schemes are submitted and are put for public view and commenting:
Sundaram BNP Paribas FTP - 90 days - Series 7
Add commentMarch 4th, 2008
Posts filed under 'Fixed Maturity Plans'
CanBank Mutual Fund Maturity Plan 13 Months Series-1
CanBank Mutual Fund has come up with an NFO for its first fixed maturity plan. The scheme is called CanFixed Maturity Plan 13 Months Series-1.
The NFO for this opens on March 16, 2007 and closes on March 23, 2007. The fund will having a duration of 13 months.
As you may recall reading our previous posts on the concept of fixed maturity plans, these plans are generally recommended for people having a surplus of money which they can put to investment and get a fixed safe returns at the end of the tenure. People in the higher level of tax bracket can use this option for their investments instead of putting them into a bank fixed deposit. As you may know, returns on fixed deposits attract higher tax compared to Fixed Maturity plans of mutual funds. The level of safety is of course varies a bit when comparing both.
Add commentMarch 17th, 2007
Fixed maturity plans getting more attention
It seems that mutual Fund houses are now marketing their fixed maturity plans more than any other type of fund during this season. With the ELSS market getting over in few days, fund houses are taking advantage of long term capital gains concept to get more investors into hold biting the bank fixed deposits share.
Of the 12 draft offer documents filed before SEBI between March 1 – 6, 2007, only 1 is an equity scheme while all others are variants of fixed maturity plans.
On the other hand bank fixed deposits too are getting more attractive and gaining attention these days. Rate of interests close to 10% are now available from almost all banks. And with returns from select fixed deposit schemes getting Income Tax exemptions, more deposits are getting ready to put their money into bank fixed deposits by way of debt or deposits instead of equities.
Add commentMarch 7th, 2007