ICICI Prudential launches small investment plan
Mumbai: ICICI Prudential Asset Management Company has launched the ICICI Prudential Micro Systematic Investment Plan (MSIP) with the minimum investment at Rs50 per month.

The AMC plans to cover the under-banked and unserved segment. The AMC will leverage ICICI Bank's network of micro finance channels and has signed an agreement with KAS Foundation, a micro finance institution.

ICICI Bank has tie ups with 200 MFIs and NGOs reaching out to over 300 million customers. The minimum redemption amount will be Rs500 with an entry load of 2.25 per cent. Only growth option in schemes will be available.
Back to News Review index page  

AIG Global launches first scheme in India
Mumbai: US-based AIG Global Investment Group has launch its first scheme in India — AIG India Equity Fund. The fund is an open-ended equity fund aiming at generating long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.

The maiden offering of AIG Global Investment Group will invest 80-100 per cent of its corpus in equity and equity related securities and 0-20 per cent in debt and money market instruments.

It is an open-ended diversified equity fund with no biases in favour of particular sectors. The minimum investment amount is Rs5,000.
The new fund offer is priced at Rs10 per unit (plus applicable entry load) and will be open for purchase from May 3 to May 31. The fund will re-open for ongoing purchases-redemptions on June 29.
Back to News Review index page  

Fidelity announces 25 per cent dividend for equity fund
New Delhi: Investment management company Fidelity Fund Management Private (FFMPL) has announced its second dividend of Rs2.50 per unit or 25 per cent for its diversified equity scheme, the 'Fidelity Equity Fund'.

The dividend is subject to availability of distributable surplus, FFMPL said in a release here today.

The record date for the dividend would be April 30.
Back to News Review index page