HSBC - SIP with Health Insurance
Saturday, October 20, 2007
HSBC - The World's Local Bank has customized offering of Mutual Fund SIPs in India. This a very innovative scheme and HDFC and Reliance Mutual Funds should also launch such schemes.Here is the details that we received from HSBC.
- The insurance will cover cancer, stroke, bypass surgery, accidental death or permanent disability
- The maximum cover will be for Rs 10 Lakhs.
- The cover that can be claimed is proportional to SIP amount paid every month. Suppose you invest Rs 2,000 / month, you will get insurance cover of Rs 72,000 over three years as that's the minimum period you have to stay invested to claim insurance.
- Eligible age for investor is between 20 and 50 years
Published by DalalStreet Business @ 8:23 PM
Reliance to launch Gold ETF
Wednesday, October 10, 2007
Reliance Gold Exchange Traded Fund is an open ended Gold Exchange Traded Fund which will track the performance of Gold Bullion. The units issued under the scheme will represent the value of gold held in the scheme. It is designed to provide returns that, before expenses, closely correspond to the returns provided by domestic price of Gold.- You will hold Gold in DEMAT form
- Do not worry about the security as their is a Custodian like for your shares [ NSDL ]
- Transparency - High
- Denomination - 1 Gram and in multiples of 1 Gram
- Retail investors can trade on NSE
- Best advantage is you don't pay any wealth tax on the Gold units you hold [Physical Gold is liable for Wealth Tax]
- Capital Gains - Applicable [No Security Transaction Tax]
NFO Closes: 1stNov, 07
Investors looking to purchase Gold can invest in this fund. Questions and comments on Mutual Funds maybe sent to feedback @ dalalstreet. biz
Published by DalalStreet Business @ 8:41 PM
