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ICICI Pru Mutual Fund launches ICICI Prudential Retirement Fund

ICICI Pru Mutual Fund launches ICICI Prudential Retirement Fund

Finance
ICICI Prudential Mutual Fund has launched ‘ICICI Prudential Retirement Fund’, an open ended retirement solution oriented scheme having a lock-in of five years or till retirement age (whichever is earlier). The NFO will open on February 07 and will close on February 21. “The best time to plan for your retirement is when you are young and working. Investing in a long-term mutual fund schemes enable in building a good retirement corpus. It also gives flexibility of Systematic Withdrawal Plan (SWP) to meet regular cash flow needs, post retirement,” says Nimesh Shah, MD & CEO, ICICI Prudential AMC. “Mutual fund is a long-term vehicle to plan for retirement. With costs of living, medical expenses and inflation rising with each passing year, it has become important to plan
LIC Mutual Fund launches Arbitrage Fund

LIC Mutual Fund launches Arbitrage Fund

Finance
LIC Mutual Fund launched LIC MF Arbitrage Fund, an open-ended scheme investing in arbitrage opportunities. The new fund offer (NFO) opens on January 4 and will close on January 18. The fund will be managed by Yogesh Patil (Equity) and Marzban Irani (Debt). Investors can make investment in the scheme in a lump sum. The investment objective of the scheme is to generate income by taking advantage of arbitrage opportunity that potentially exist between cash and derivative market and within the derivative segment along with investments in debt securities and money market instruments. The fund manager will use a disciplined quantitative analysis while accessing the arbitrage opportunities. The scheme will hold minimum of 65 per cent in equities and equities related instruments, derivatives incl...
The volatility in stocks right now is 'abnormal,' says manager of $200 billion pension fund

The volatility in stocks right now is 'abnormal,' says manager of $200 billion pension fund

Finance
Investors should be careful as the recent spike in market volatility is far from normal, according to the manager of the California State Teachers' Retirement System, which has more than $ 200 billion in assets. "The last few days have been abnormal volatility," Christopher Ailman, chief investment officer at CalSTRS, told CNBC during a special aired Thursday night. "The volatility we saw earlier in October and November, I went on and said that was expected. That's typical when you have a bull market that's so old and so late in the economic cycle. But the last few days are abnormal because the machines are really picking over more than human beings." ...
A £675m fund to help our struggling high streets

A £675m fund to help our struggling high streets

Business
Local councils are being invited to bid for a share in a government fund set up to help reinvigorate the country's struggling high streets. The £675m fund was announced by chancellor Philip Hammond in October's Budget but the bidding process opens today.It comes after the report of a panel led by Sir John Timpson, which called for a community-driven approach to transforming the high streets into "community hubs".Communities minister Jake Berry said: "We all know high streets are changing, we can't hide from this reality."But we're determined to ensure they continue to sit at the heart of our communities for generations to come."To do this we have to support investment in infrastructure, boosting local economies and ensuring people are able to get the most out of their ...
Federated Investors' top fund manager thinks the market is wrongly pricing in a 2019 recession

Federated Investors' top fund manager thinks the market is wrongly pricing in a 2019 recession

Finance
Wall Street angst over a possible recession may be increasing, but one bull refuses to waver. Federated Investors' Steve Chiavarone believes there's nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year.Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the Treasury yield curve and credit spreads as key factors contributing to a favorable economic and market environment. "We don't have any of the early signs of recession. Yet, we have a market where despite 20 percent earnings growth, the P/Es [price-earnings ratios] have ...