Deutsche Asset Management launches two new funds
Mumbai: Deutsche Asset Management has launched two new funds on Tuesday, Deutsche investment opportunity fund and Deutsche MIP fund, which seek to offer selected portfolios of stocks of companies that aim to outperform the BSE 200 stock index and the Crisil-blended MIP index respectively, company officials were quoted as saying. The investment opportunity fund will be an actively managed equity fund with the option of reducing equity holding in the portfolio significantly for a brief period of time, to tide over downward movements of the market. The MIP offered has two plans: Plan A will have an equity participation of up to 10 per cent and Plan B will cap equity at 20 per cent.

Sandeep Dasgupta, CEO, Deutsche Asset Management India, also said the second dividend this year on the Deutsche Alpha equity fund. The funds are open for initial offer during January 15-29 at an issue price of Rs 10 per unit at par.
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ING Vysya MF in talks with an FI
Chennai: ING Vysya Mutual Fund in talks with a financial institution which has a wide reach in Tamil Nadu to distribute its products, say reports. A key distribution vehicle in the state for the fund is its group company, ING Vysya Bank. Sushil K Sharma, chief marketing officer of the fund, said the fund hopes to tie up with another financial institution that will supplement its existing network. Sharma didn't name the institution as he felt it will be premature.

Tamil Nadu, Andhra Pradesh and Karnataka have the highest concentration of the bank's branches. The mutual fund is currently trying to promote its products (Monthly Income Plan) by offering free access to an ING Vysya Bank savings account and ATM cards.
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BSE plans to delist 93 companies
Mumbai: The Bombay Stock Exchange has decided to delist shares of 93 companies for not complying with the listing agreement of the exchange for more than five years.

In a statement on Tuesday, the BSE said in exercise of powers under the delisting guidelines, the delisting committee has decided to delist 93 companies from January 14.
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ING Vysya MF launches MIP, index fund
Chennai: ING Vysya Mutual Fund has launched a Monthly Income Plan (MIP) and an index-linked equity plan. The initial offer that opened this week closes on February 6. Sushil K Sharma, chief marketing officer, said the MIP's highlight is an offer to open a "zero balance saving bank account" with ING Vysya Bank. Investors can avail themselves of the offer only during the initial offer period.

The MIP gives investors the choice between a scheme that invests only in debt and another that invests in both debt and equity. The initial offer does not have an entry load. In the index-linked equity plan, ING Vysya Nifty Plus Fund, 70 per cent of the corpus would be invested in the index. The balance would be invested in Nifty stocks according to the fund manager's discretion.
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Rupee closes stronger
Mumbai: The rupee closed two paise stronger at 45.40/41 in its value against the dollar compared to Monday's close of 45.42.

The domestic currency opened at 45.42/44, touched an intra-day high of 45.3850 and an intra-day low of 45.4550.
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