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NFO – Mahindra Mutual Fund Bal Vikas Yojana

As name Bal Vikas Yojana indicates,its a child plan offered by Mahindra Mutual Fund.This is balanced fund and parents/close relatives can invest in name of child for its future needs like education,higher education or marriage.

More details of Mahindra Mutual Fund Bal Vikas Yojana are as follows:

Mahindra Mutual Fund Bal Vikas Yojana

Eligibility:

Units in this scheme shall be held in name of beneficiary child.Child should be less than 18 years of age as on date of application.Guardian can be natural guardian(either parents) or legal guardian.Subsequent purchases may be made till unit holder attains age of 18..till unit holder will be represented by parent or legal guardian.

Lock in period (Optional):

Its optional to opt for lock in period.If lock in period is opted then units will be locked until beneficiary child attains age of 18 years or completion of 03 years from date of allotment,whichever is latter.

If guardian strictly wish to utilize corpus for child’s higher education purpose,then only opt for lock in period.

Asset Allocation:

Mahindra Bal Vikas Yojana is an open ended balanced scheme and will allocate its asset across:

  • Equity(40-60%),
  • Debt(25-55%)
  • Arbitrage opportunities(5-15%).

Equity:

If child is younger,means you have sufficient investment horizon.Equity allocation in such cases will allow investment to grow over a longer period of time.

Debt and Equity arbitrage:

Exposure towards debt and Arbitrage will offer stability to portfolio.

Tax Benefits:

No 80C Benefit:

This fund is NOT eligible for 80C benefit…even though investor opts for lock in period.Only ELSS schemes & Retirement funds are eligible for 80C benefit.

Maturity Taxation:If fund keeps equity allocation (direct Equity + Arbitrage) above 65% then it will eligible for equity taxation and no long term capital gain tax will applicable.Most of the balanced funds keeps equity allocation above 65% to make it eligible for equity taxation.Investor can take information from AMC when it intends to redeem units from this scheme.

Exit Load:

As this fund is linked to longer term goals like child education,marriage,it has exit load provision to discourage investor from premature exit.

Exit load structure:

  • 3% for exit within 365 days.
  • 2% for redemption between 366 -730 days.
  • 1% for redemption between 731 – 1095 days.

Documents needed:

If you decides to invest then you will need following documents:

  • Duly filled application form.
  • KYC of Guardian.
  • KYC of donor (if donor is not guardian).
  • Details of Child bank account  [For redemption credit]  or declaration about the same.
  • Relation document between child and guardian.
  • Age proof of beneficiary child.

This fund offer will open for initial purchase between April 20 – May 04, 2017.From May 19th scheme will be available for continuous sale and purchase.

Muthoot Finance NCD Issue April 2017:

Muthoot Finance of the largest Gold loan company has come up with an issue of Secured and Un-secured NCDs in April 2017.Details of Muthoot Finance April 2017 NCD issue are as follows.

Imp dates:

  • Issue open date:April 11, 2017.
  • Issue close date:May 10, 2017.

Credit Ratings: CRISIL AA / ICRA AA.Both indicates stable issue.

Coupon Rates:

NCD issue offers coupon rates ranging from 8 t0 9% depending on tenure & interest payment frequency.

Monthly Interest payment:

Interest payable monthly from date of allotment.

Muthoot Finance NCD April 2017 Monthly Interest

 

 

 

 

 

Annual Interest Payment:

Interest payment annually from date of allotment.

Muthoot Finance NCD April 2017 Annual Interest

Cumulative Option:

Compounded annual Interest and principle will paid at maturity.

Muthoot Finance NCD April 2017 Cumulative

Other details:

  1. Minimum investment amount Rs.10,000 onwards.
  2. NRIs are not eligible to apply.
  3. Allotment first cum first served basis, per day basis.
  4. Demat mode compulsory:Demat account is compulsory if you wish to invest in this issue.
  5. Security: Company will provide 100% security cover for secured NCDs and interest thereon.While unsecured NCDs will be subordinated debt & no security cover will be provided.

Company intends to raise Rs.1950 crore against secured NCDs and Rs.50 Crore against unsecured NCD issue.

 

ICICI Prudential Value Fund NFO March-April 2017:

New Fund Offer – ICICI Prudential Mutual Fund has come up with a new closed end fund offer with value oriented investment  theme: ICICI Prudential Value Fund Series 12.

Details of ICICI Prudential MF Value Fund Series 12:

  1. NFO Open Date:March 27, 2017.
  2. NFO Close Date:April 10, 2017.
  3. Fund tenure:1360 Days.
  4. Options available:Dividend option only.Time to time scheme will distribute income generated to unit holders.There is no growth option available for investors.But investor can use DTP -Dividend Transfer Plan to switch dividend in any other open ended scheme of ICICI Prudential mutual fund.

As per AMC website,Fund may invest in 25-30 stocks which may benefit due to governments focus on infrastructure development across the country,initiatives such as smart cities,digitization and e-commerce which will receive substantial support in form of budgetary allocation and policy reforms.

Overall,Government set to make the infrastructure sector a key driver for Indian economy and this fund aims to invest in these stocks  or sectors which are suitably positioned to benefit from the current economic scenario.

This fund will managed by S Naren who is CIO-Chief Investment Officer & George Joseph – a senior fund manager who is managing ICICI Pru Long Term Equity (Tax Saving),ICICI Pru Child care,ICICI Pru Multicap fund along with other closed ended schemes.

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Information provided on this blog is for general purpose only & not investment advice.Please take advice of SEBI Registered Investment Advisors before taking any investment decision.
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