Thursday, December 1, 2011

Prajna Capital

Prajna Capital

DSP BlackRock FTP Series 3-24M and DSP BlackRock FMP Series 22-3M

Posted: 01 Dec 2011 05:20 AM PST

DSP BlackRock Mutual Fund has announced the launch of DSP BlackRock FTP Series 3-24M & DSP BlackRock FMP Series 22-3M. The new fund offer will be open for subscription from December 1, 2011 for both the series and close on December 12, 2011 & December 7, 2011 for Series 3 and Series 22, respectively.


The maturity date of the schemes will be December 17, 2013 for DSP BlackRock FTP Series 3-24M and March 7, 2012 for DSP BlackRock FMP Series 22-3M.
 
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Download Section 80CCF Tax Saving IDFC Infrastructure Bonds Application Form

 

http://www.docstoc.com/docs/105113341/IDFC-Long-Term-Infrastructure-Bond-Tranche-1-Application-Form

 

Download Section 80CCF Tax Saving L&T Infrastructure Bonds Application Form

 

http://www.slideshare.net/PrajnaCapital/lt-long-term-infrastructure-bond-tranche-1-application-form
 

Find a collection canter:

 

Collection canter near you

Collection Centres In Mumbai, Banglore, Chennai For IDFC Infrastructure Bonds Nov.2011

Posted: 01 Dec 2011 12:27 AM PST

Download Section 80CCF Tax Saving IDFC Infrastructure Bonds Application Form

 

http://www.docstoc.com/docs/105113341/IDFC-Long-Term-Infrastructure-Bond-Tranche-1-Application-Form

 

Download Section 80CCF Tax Saving L&T Infrastructure Bonds Application Form

 

http://www.slideshare.net/PrajnaCapital/lt-long-term-infrastructure-bond-tranche-1-application-form

 

Find a collection canter:

 

Collection canter near you

 

 

IDFC has recently announced the issue of infrastructure bonds. List of collection centres  is as follows:

MUMBAI:

A) Fort:

1.Axis Bank : Universal Insurance Building,Ground Floor, Sir P M Road, Fort, Mumbai -400001.

2.HDFC bank: Ground Floor, Maneckji Wadia Building,Nanik Motwani Marg,Near Kala Ghoda,opp Mumbai University,Fort Mumbai- 400 001

3.Dhanlaxmi Bank Ground Floor,Janmabhoomi Bhavan,Plot 11-12, Janmabhoomi Marg, 144- Fort, Mumbai.

4.Indusind Bank:MUMBAI-FORT: Premises No. 1, Sonawala Building 57, 'Mumbai Samachar Marg, Fort, Mumbai 400 001.

B]Bandra:

Axis Bank:Fortune 2000,Ground Floor,Bandra-Kurla Complex,Bandra East Mumbai-411056.

C) Kalyan:

Axis bank ,Old Suchak Niwas,Cts No.3203 Murbad Road, Kalyan (West) 421301 Maharashtra

D) THANE:

Axis bank,Dhiraj Baug, (Near Hari Niwas Circle)Lbs Marg, Thane (West).Thane 400602.

E) Borivali:

ICICI Bank,BORIVALI – ICICI Bank Ltd., Reis Magos, Sutrale Road, off. Chandavarkar Lane,Borivali(W) 400092.

F) POWAI -

ICICI Bank Ltd., Galleria Shopping Mall, Hiranandani Gardens, Powai, Mumbai. 400076.

G) DADAR:

ICICI Bank Ltd., 167-C, Poonawadi, Dr. Ambedkar Road, Dadar, Mumbai. 400014.

H) Andheri:ICICI Bank Ltd., Sagar Avenue, Ground Floor, Opp. Shoppers Stop, S.V. Road, Andheri (W), Mumbai. 400058

I) Vashi:ICICI Bank Ltd., Shop No 14,15 & 16, Shri Ganesh CHS, Sector 1, Opp.Apna Bazar, Vashi Navi Mumbai Dist. 400703.

J) Nariman Point:

1.ICICI bank Ltd Mittal Court, 'A' Wing, 2nd Floor , Nariman Point,Mumbai-400021,Maharashtra.

2.ING Vyasa  MUMBAI: Mittal Towers A-wing Ground Floor 210 Nariman Point Mumbai – 400 021

3.MUMBAI: 5 C/ II, Mittal Court 224, Nariman Point,Mumbai400021.

K) Dombivali:  Dhanlaxmi Bank, Gr. Floor, Mirage Arcade, Opp. Ganesh Temple, Nehru Road, Dombivli (East), Thane, Maharashtra-421 201

L) Matunga: Raj Niketan, 356, Bandarkar Road, Matunga (East), Mumbai Maharashtra-400 019.

Banglore:

1. Axis bank BANGALORE: No. 9, M.G. Road,Block A, Bangalore 560001 Karnataka.

2. HDFC Bank: BANGALORE: HDFC Bank Ltd, Cash Management Services "SALCO Centre"
# 8/24, Richmond Road, BANGALORE-560025.

3. JAYANAGAR- ICICI Bank Ltd., No.509, 8th Cross, West of Kanakapura Road, Jayanagar 7th Block, Bangalore 560082

4. BANGALORE: IDBI House, 58 Mission Road,Bangalore Pin : 560027,Karnataka.

5.Dhanlaxmi BANGALORE:#11, 1st Cross, B. B. Naidu Road, Gandhinagar, 1st Cross, Bangalore – 560009,

6. Indusind bank: Du Parc Trinity1st Floor, West WingNo.17,'M.G. RoadBangalore – 560 001,

7. ING Vyasa bank: BANGALORE: 22 Ground Floor Ing Vysya House M.G. Road Bangalore – 560 001.

8. Kotak-Mahindra Bank: 10/7 , Umiya Land Mark, Next to Chancery Hotel Lavelle Road , Bangalore-560001.

CHENNAI:

A. Axis bank CHENNAI: 82, Dr.Radhakrishnan Salai, Mylapore, Chennai 600 004.

B. HDFC Bank: No. 115, Dr. Radhakrishnan Salai, 2nd Floor, Opp. to CSI Kalyani Hospital, Mylapore, Chennai – 600004

C. ICICI Bank Ltd:

1. ICICI Bank Ltd, 110, Prakash Presidium, Uthamar Gandhi Salai, (Nungambakkam High Road), 600034;

2.CHENNAI-ADYAR – ICICI Bank Ltd., 2/1, LB Road,Chennai – 600 020

3.CHENNAI-MAIN ICICI Bank Ltd., P.B.No. 1610, Dare House, Annexe 44, Moore Street, Chennai. 600001; CHENNAI – T NAGAR- ICICI Bank Ltd., 7, Bazullah Road, T.Nagar, Chennai. 600017

D. IDBI bank Ltd: PM Towers, 37, Greams Road ,Chennai Pin : 600006 , Tamil Nadu.

E. Dhanlaxmi Bank: P.B.No.359, 104 & 107,Om Sakthi Towers,Mount Road, Anna Salai, Chennai, Tamil Nadu-600 002.

F. IndusInd Bank Ltd: No.3 Village Road Nungambakkam,'Chennai – 600 034.

G. ING-Vyasa Bank: 185 Anna Salai Near Tvs Chennai – 600 006,

H. Kotak-Mahindra bank: Capitale',Ground Floor,555, Anna Salai,Chennai – 600018
 
 

IDBI Mutual Fund - Change in Fund Manager

Posted: 30 Nov 2011 11:04 PM PST

 

IDBI has changed the fund managers under the following schemes:

 

Schemes

 

 Fund Manager

IDBI Nifty Index Fund

 

Mr. V. Balasubramanian

IDBI Nifty Junior Index Fund

 

Mr. V. Balasubramanian

IDBI MIP

 

Mr. Gautam Kaul (Debt),Mr. V. Balasubramanian (Equity)

IDBI Gold ETF

 

Mr. V. Balasubramanian

 
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Download Mutual Fund Applications

Download Application Forms, Additional Purchase Forms, SIP / STP / SWP Forms, ECS Stoppage Forms, and Other Service Forms for ALL Mutual Funds from this single location.

 

Download Mutual Fund Applications

 

Buy Mutual Funds Online by selecting the Mutual Fund Schemes.

 

Invest in Mutual Funds Online Mutual Funds Online

IDFC Infrastructure Bonds

Posted: 30 Nov 2011 07:32 PM PST

 IT'S that time of the year when employees have to make a declaration of investments, both under Section 80C and 80 CCF, to their companies. Tax payers will get additional benefits of 20,000 under Section 80CCF. This benefit, which was introduced last year, is only for infrastructure bonds.

So, Infrastructure Development Finance Corporation (IDFC) issue of infrastructure bonds, which were launched today, has timed things perfectly for the employees. It is offering an annual return of nine per cent per bond with a maturity of 10 years. The minimum investment required is 10,000 (two bonds of face value `5,000 each). And, investors can receive the bond papers in either physical form or demat. There may be more issues from other companies, too.

However, experts said that unlike last year, the rates offered may not climb steadily with each issuance (the rates rose from 7.5 to eight to 8.25 per cent over the three tranches announced by IDFC in October 2010, January and February, 2011, respectively).

The returns from these are benchmarked against the 10-year government securities yield. Given the uncertain interest rate environment, it is difficult to predict the rate movement and whether subsequent rates for any issues will be higher.

By and Large, Interest rates are likely to remain stable in the near term. Even in the long term, these are not likely to rise much.

Considering the relatively small amount of investment, financial planners feel those in the highest tax bracket can invest funds right away. Others can exhaust the other tax-saving avenues first and then turn towards this, though not later than January

INTEREST PAYOUT:

One can choose from an annual or cumulative interest payout. In the case of latter, the interest will be compounded annually and on maturity one will receive `11,840 per bond. Say, you invest `20,000. In case, you opt for the cumulative option, you will get `47,360, a pre-tax return of 27,360. However, if you choose the annual interest payout option, you will get 1,800 yearly, a total of `18,000 over the 10-year period.

The option chosen will depend on ones cash requirement. However, at 1,800 annually, financial advisors deem the amount low. They feel investors may be better off with the cumulative option.

TAXATION:

These long-term bonds allow individuals to claim up to `20,000 as deduction under Section 80CCF, in addition to the regular section 80C limit of `1lakh. However, the interest earned on the bonds is added to your income and taxed according to the slab.

Any investment in excess of the 20,000 limit does not make sense. Reasons: One will get higher rates from other debt products like fixed deposits, and for lesser maturity periods. For instance, SBI offers a 9.25 per cent return on one- to ten-year deposit.

EXIT ROUTES:

There is a lock-in of five years. Investors looking for an exit can opt for a buyback after that. However, they must intimate the company six-nine months prior to the buyback date, to be able to exercise the option. After the lock in period, the bonds will be listed on the stock exchanges, providing a second exit route. However, There isn't much liquidity in this space, as bonds are not traded regularly. If one wishes to exit the investment, a buyback may serve the purpose better. The current issue is open from November 21 to December 16.
 

Download Section 80CCF Tax Saving IDFC Infrastructure Bonds Application Form

 

http://www.docstoc.com/docs/105113341/IDFC-Long-Term-Infrastructure-Bond-Tranche-1-Application-Form

 

Download Section 80CCF Tax Saving L&T Infrastructure Bonds Application Form

 

http://www.slideshare.net/PrajnaCapital/lt-long-term-infrastructure-bond-tranche-1-application-form

HDFC Standard Life Pension Maximus

Posted: 30 Nov 2011 09:27 AM PST



HDFC Standard Life Pension Maximus is a single premium pension plan with policy term restricted to 10 years. Adhering to IRDA norms, the scheme offers guaranteed returns based on RBI's reverse repo rate, which is calculated as simple interest on the gross premium amount at the end of each financial year. The company has offered a minimum guaranteed interest rate of 5.44% per annum (pa) for FY12 subject to a maximum of 6% pa. At the end of the policy term, the policyholder is entitled to receive either the guaranteed returns or the fund value whichever is higher. However, in case of the death of the policyholder during the term of the policy, the nominee shall be entitled only to the fund value plus a fixed amount of sum assured.

Unique Feature

Pension plans, usually, do not offer any sum assured to the policyholders. HDFC SL Pension Maximus, however, offers a fixed sum assured of 1,000 to the nominee of the policyholder along with the fund value in the event of the death of the policyholder.

For Existing Customers

It does not really make sense for existing investors to exit the scheme as they have already paid quite a bit of charges. Since the scheme has a limited policy term of 10 years, investors should rather focus on choosing the insurer that provides the best possible annuity rates at the end of their policy term.

For Those Looking to Invest

The only USP of this single-premium pension plan is the surety of a fixed sum assured of 1,000 to the nominee in case of the death of the policyholder, which is quite mediocre in the current times and more so if one considers the time value of money for the coming 10 years. The scheme, as such, appears expensive in comparison to its peers with no significant value addition.
 
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