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Investors should always have gilt funds in their portfolio, says Prashant Pimple of Reliance MF

Investors should always have gilt funds in their portfolio, says Prashant Pimple of Reliance MF

Finance
Gilt funds are suitable for investors with absolutely no appetite for credit risk and with willingness to stay invested for three to five years or more, says Prashant Pimple, fund manager, Reliance Gilt Fund. Edited Interview Gilt funds are giving an average return of 8.23 per cent in one year. What contributed to it? Last year gilts as a category has outperformed most of the asset classes as yields on G-secs fell on account of Open Market operations (OMO), under which RBI buys G-secs from market to provide liquidity, rate cut of 25 bps by RBI and lower inflation readings. The 10-year G-sec yield made a high of 8.15% on supply worries in Sep 2018 but as RBI conducted more and more OMOs and followed by rate cut and further expectations of rate cuts markets took comfort with yields trading ...
ICICI Lombard, MobiKwik join hands to provide cyber-insurance cover of Rs 50,000

ICICI Lombard, MobiKwik join hands to provide cyber-insurance cover of Rs 50,000

Finance
NEW DELHI: ICICI Lombard and Mobikwik Monday announced a partnership to offer cyber-insurance cover of Rs 50,000 to protect against online frauds. General insurer ICICI Lombard and digital financial services platform Mobikwik said the partnership aims to provide protection against unauthorised and fraudulent transactions online, across bank accounts, debit/credit cards and mobile wallets. The cyber-insurance can be availed digitally through an app at only Rs 99 per month and with a sum insured of Rs 50,000, said a release. MobiKwik users can avail the 'Commercial Cyber Insurance' policy underwritten by ICICI Lombard and enjoy the benefit of a stress-free and secured transaction for its users who opt for this cover, it added. "This relationship with MobiKwik further strengthens ICICI Lombar...
Aditya Birla Sun Life Retirement Fund collects Rs 166 crore

Aditya Birla Sun Life Retirement Fund collects Rs 166 crore

Finance
Aditya Birla Sun Life AMC Limited had launched the Aditya Birla Sun Life Retirement Fund on February 19, 2019. The fund has collected Rs 166 crore in its NFO period, attracting investors from 241 locations from across the country. The fund in its NFO period that was open for two weeks garnered 23,743 applications, 42% of which are from B30 cities (beyond Top 30 cities) alone. Close to 40% of the applications have come through the SIP route, with a significant portion of it in Century SIP, ABSL MF’s offering of SIP with a life cover. The fund has also achieved in adding over 7,000 new customers to its existing investor base. The fund offers four investment options designed as per suitability of various age groups and different risk profiles of an individual that includes – The 30s pla
After comeback, the stock market is aligned with a historical pattern with perfect track record

After comeback, the stock market is aligned with a historical pattern with perfect track record

Finance
Stocks hit a new high for the year this week, back on track to match a post-election pattern that has stood the test of time. The stock market has risen in the year after all 18 midterm elections since World War II, with the S&P 500 delivering an average return of 14.5 percent, according to LPL Financial Research. The pattern is pointing to a longer bull run even after this year's epic rebound. "With the S&P 500 up only 1.3 percent since the midterm election last November, there indeed could still be room for stocks to run in 2019," LPL's Ryan Detrick said in a...