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Boom in tax saver plans
With March approaching, the market is flooded with tax saver equity fund offers. Birla Sun Life Mutual Fund recently launched its Focussed Equity Series – I, which will invest in stocks eligible under the Rajiv Gandhi Equity Savings Scheme (RGESS). The fund is open for subscription until February 13, 2014. Investment in the fund can be redeemed only after three years.
This fund will invest in stocks that constitute the BSE 100 Index, CNX 100 Index and PSUs that are graded Navratna , Maharatna or Miniratna by the Government. The performance will be benchmarked to the CNX 100 Index and the fund will be managed by Anil Shah.
Likewise, SBI MF’s Tax Advantage Series – III is open for investment until March 27, 2014. As with other tax saving schemes, investments in this fund cannot be redeemed for three years. Richard D’Souza will manage it.
Killer apps
Want to know how your fund investments have fared? You don’t have to wait for the month or quarter-end to receive your statement. All you need is a smart phone and you can track your mutual fund investments anywhere, anytime, claims Karvy Computershare.
It says its smartphone app KTrack fetches the latest value and summary of your MF investments rightaway.
This is a free app and is available on Android, iOS and BlackBerry platforms. With the KTrack app, you can access your investments in 24 fund houses across the country, according to the company.
One for the advisors
L&T Mutual Fund has unveiled a new app for financial advisors. Called L&T Mutual Fund iAdvise, it has various features including tools and calculators, fund analyser and news and insights, which make the adviser’s job easier.
The tools and calculators section offers financial planning calculators such as risk profiler, SIP calculator, retirement planner, inflation calculator and education planner which will assist IFAs offer the right product to their clients.
The fund analyser enables advisers to compare the features and performance of various MF schemes across asset classes. This will help them recommend the best product to suit clients’ needs.
The news and insights column helps them stay abreast of developments in the industry.
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