ICICI Prudential MF launches Multiple Yield Fund Plan A

Published on Sat, May 21, 2011 at 13:00 |  Source : Moneycontrol.com
Updated at Sat, May 21, 2011 at 13:14

ICICI Prudential Mutual Fund has launched new fund as ICICI Prudential Fixed Multiple Yield Fund Plan A, a closed ended income fund. The tenure of the plan in days is 1100 days.  The primary objective of the Plan under the Scheme is to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments. The secondary objective of the Scheme is to generate long term capital appreciation by investing a portion of the Scheme's assets in equity and equity related instruments.
The New Fund Offer (NFO) is open for subscription from May 20, and closes on May 31,  2011. The New Fund Offer price for the scheme is Rs 10 per unit.  (View - New Fund Offers open NOW)
The scheme offers cumulative and dividend option. Dividend Payout is the only facility available under dividend option. The default option shall be cumulative option under the scheme.
Entry load and exit load charge are not applicable for the scheme. The scheme is proposed to be listed on NSE.
The scheme will allocate upto 70%-100% of assets in money market instruments, Short term and medium term debt securities/ debt instruments and securitised debt and invest upto 30% of the asset in equity or equity related Securities.
If the Plan decides to invest in securitised debt, it could be upto 50% of the corpus of the Plan. If the plan decides to invest in equity derivatives it could be upto 100% of the allocation to equity. The margin money requirement for the purpose of derivative exposure may be held in the form of term deposits. The Scheme shall not take leverage positions and total investments, including investments in equity and other securities and gross exposure to derivatives, if any, shall not exceed net assets under management of the scheme. If the plan decides to invest in foreign securities it could be upto 100% of the allocation to equity.
The benchmark index for the scheme will be Crisil MIP Blended Index.
The scheme will be managed by Mr. Chaitanya Pande.
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RIL plans to raise $1.5 bn via overseas loans: Report

Published on Sat, May 21, 2011 at 14:26 |  Source : Reuters

Updated at Sat, May 21, 2011 at 16:06  

Indian energy major Reliance Industries is in talks with banks to raise as much as USD 1.5 billion in dollar-denominated loans, a Bloomberg report said on Saturday, citing two people familiar with the development.

The company plans to borrow USD 1.1 billion in five-year loans to replace debt maturing in about two years that has higher interest costs and may obtain another USD 400 million of new loans, the report said.

Reliance, which has USD 14.2 billion of debt outstanding maturing through 2097, has not decided the lead arrangers and the banks for the debt syndicate.

Reuters could not reach Reliance for a comment immediately.

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Infosys to invest $150m to set up new campus in Shanghai

SHANGHAI: Infosys Technologies chairman N R Narayana Murthy on Saturday laid the foundation of a new campus in Shanghai, and announced plans to treble the company's business operations in China.

Addressing a press conference after the foundation laying ceremony, Murthy suggested China needs companies like Infosys as much as they need the Chinese market.

"China has demonstrated an extraordinary pace of growth. Such growth cannot be sustained unless it is backed up by scalable, easily maintainable, easily available and easily usable information systems. That is where we believe that there is opportunity for us in China for us," he said.

Murthy was joined at the foundation laying ceremony and the press conference by Mohandas Pai, the Infosys board member who will be quitting the company.

"I am with the company till June 10. I will continue to work on the Shanghai project even after that. I will work on this project and a project in India for about a year," Pai told TOI on the sidelines of the ceremony. He did not wish to disclose future career plans at this stage.

The operations in China account for one to 1.5 per cent of the company's total business volume. Infosys plans to raise it to five per cent over the next three years, Murthy said. The new campus being built on 15 acres of land at a cost of $150 million will be the largest software development centre of Infosys outside India, he said.

The company, which has a staff of 3,200 in Shanghai at present, will employ at total of 10,000 professionals by the time the new campus becomes operational, Rangarajan Vellamore, chief executive officer of Infosys Technologies (China) Co., said during the ceremony, which was attended by Indian ambassador S.Jaishankar and Feng Guoqing, Communist Party leader at Shanghai Municipal Corporation.

The rising labor costs in Shanghai did not cause much worry to Infosys, which believed in paying high wages to attract the best talent, who can deliver high quality services to clients, Pai said at the press conference.

"We will use our enhanced capacity here to deliver high quality consulting and software services to the global markets as well as to our clients in China," Murthy said.

The campus will have facilities for software development, labs, data centers, training facilities, food courts, a 1,500-seater auditorium, gym, and other recreational facilities, he said.

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SBI loses market share in deposits for 3 consecutive quarters

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