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AMCs FACE BIG LIABILITY TO KEEP RETURN PROMISE

Article Abstract:

Leading Asset Management Companies (AMCs) have total liabilities of over Rs1,000 crore to discharge. The returns range from 14 percent to 16 percent. The fund schemes are not performing well enough to make the returns. The schemes have been promoted by GIC, State Bank of India, Canara Bank, Indian Bank and Bank of India. The units are to mature before March 2001 AD. The Bank of India (BOI) mutual fund's Double Square Plus scheme has the largest liability of around Rs750 crore based on the present net asset value (NAV) of Rs196 against the promised re-purchase price of Rs400 per unit. (uh)

Comment:

India: Leading Asset Management Cos have total liabilities of over Rs1,000 crore to discharge

Publisher: Bennett, Coleman & Co. Ltd.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
Liabilities NEC

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PRUDENTIAL-ICICI ASSET MANAGEMENT LAUNCHES FLIP

Article Abstract:

A flexible lifetime investment programme (FLIP) has been introduced by Prudential-ICICI. The programme provides three different mutual fund schemes. Prudential-ICICI proposes to raise Rs100 crore. The programme allows the investors to switch easily between plans and customised portfolio construction. Prudential- ICICI has also launched three schemes - equity growth scheme, income scheme, and a liquid scheme to offer flexibility, liquidity and transparency. (ag)

Comment:

Introduces flexible lifetime investment program which provides three different mutual fund schemes

Publisher: Bennett, Coleman & Co. Ltd.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
Services introduction, Prudential-ICICI

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Subjects list: India, Mutual funds, Article
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