Escorts MF plans gilt fund scheme
Kolkata: Escorts Mutual Fund has lined up a scheme that will take active calls on government securities.

The proposed Escorts Dynamic Gilt Fund, which will offer personal accident insurance to investors, will shift to cash and money market instruments if the situation so warrants.
The scheme chiefly
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JM Mutual unveils floater fund scheme
Mumbai: JM Mutual Fund has launched a new debt scheme, the JM Floater Fund.

The objective of the fund is to provide regular income and capital appreciation through investments in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns, fixed rate instruments and money market instruments, according to a press release. The initial public offer for the scheme opens on June 23 and closes on June 25.
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VSNL, Wipro in limelight
Mumbai: On hopes that the US Federal Reserve will keep the economy growing with an interest-rate cut during the coming Wednesday meeting, the US market ended the last week on positive note. The broad-based S&P 500 rose 0.7 per cent last week; the Dow Jones Industrial Average edged up 0.9 per cent and the tech-focussed Nasdaq jumped 1.1 per cent.

For domestic markets, steady monsoon progress, the grand success of Maruti IPO and foreign institutional investors' strong participation bolstered the sentiment. The BSE Sensitive index shot up 4.3 per cent last week to reach a 14-month high and the NSE's S&P CNX Nifty by 4.17 per cent.
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