1.Mutual funds can help build your retirement kitty.
For your golden years to be pleasant, the quantum of retirement fund should be such that the returns generated from it can cater to your monthly expenses. In India, retirement planning is synonymous with buying pension plans. However, there are several other options available.
Equity mutual funds. Equity investments over the long term turn out to be extremely fruitful. Keeping out of equities could make your portfolio extremely conservative and the returns could go negative once inflation is factored in.
Debt mutual funds. These should be typically used for emergencies. However, one can also invest returns accruing out of maturity/profit booking from equity MFs into debt funds. One can conduct systematic withdrawals from debt MFs towards pension.
Gold MFs/ETFs. While gold can provide the much need balance to the portfolio, one should hold not more than 10% exposure in this asset class.
News Source – FINANCIAL EXPRESS.
2.Pramerica Mutual Fund introduces Power SIP under two schemes.
Pramerica Mutual Fund has decided to introduce Power SIP under Pramerica Ultra Short Term Bond Fund and Pramerica Equity Fund effective from 1 December 2011.
Pramerica Power SIP:
Pramerica Power SIP is an investment plan that provides for subscriptions into Pramerica Ultra Short Term Bond Fund (hereinafter referred to as the source scheme) in a lump-sum and via monthly SIP and subsequently switching the investment into Pramerica Equity Fund (hereinafter referred to as the target scheme) on a recurrent basis on 2nd business day of every month.
News Source – INDIA INFOLINE.
NEW FUND LAUNCH
3.L&T MF Floats 90 Days Fund.
L&T Mutual Fund has launched a new fund named as L&T FMP – V (November90D B), a close ended income scheme with the duration of 90 days which will mature on 29 February 2012. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 30 November and close on 1 December 2011.
News Source – NAV INDIA.