DHFL Pramerica’s Global Equity Opportunities Fund
DHFL Pramerica Assets Managers recently introduced DHFL Pramerica Global Equity Opportunities Fund (DPGEOF), an open-ended fund-of-fund scheme investing in PGIM Jennison Global Equity Opportunities Fund.
The underlying fund is a 7.5-year-old global fund, which offers Indian investors an opportunity to invest in growth-oriented companies such as Amazon.com, Alibaba, Netflix, Tencent Holdings, Boeing, Mastercard and Facebook with no particular restriction on countries or sectors.
DPGEOF’s minimum investment has been kept Rs 5,000 per application. While the entry load is not applicable, the exit load levy would be 1 per cent if redeemed or switched out within 12 months of allotment. SIP/STP/SWP facility is available.
According to the firm, the product is suitable for the investors looking for capital growth over the long term and investment in mutual funds units that invest in equity securities of global firms in the early stage of acceleration in their growth. The product’s degree of risk is high.
“Indian markets have a low correlation with overseas markets. Global exposure to equities offers healthy diversification for Indian investors. Most international funds in India now are either country-specific or thematic. This fund would seek to build a flexible global portfolio, with opportunistic approach to unconstrained global growth investing,” said Ajit Menon, CEO & CBO, DHFL Pramerica MF.
SBI Mutual Fund’s SBI-ETF Quality
SBI Mutual Fund recently announced the launch of SBI ETF Quality, its first smart beta offering, an open-ended scheme tracking Nifty 200 Quality 30 index. The new fund offer opens for subscription on November 26 and closes on November 30. No entry load and exit load will be applicable for the scheme and the minimum subscription amount is Rs 5,000 and in multiples of Rs 1 thereafter.
The scheme aims to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error. The scheme would invest up to a minimum of 95 per cent in the companies under Nifty 200 Quality 30 ranked by the ‘quality scores’, while the residual 5 per cent will be invested in money market instruments.
“With the launch of our first smart beta strategy, SBI-ETF Quality will provide an opportunity for retail investors to benefit from long-term capital appreciation by investing in quality stocks. The product offers investors an extremely cost-effective alternative to building their portfolios,” said Ashwani Bhatia, MD & CEO, SBI Mutual Fund.
This is also the first Smart Beta offering by the fund house. Smart Beta/Strategy Indices are quant-based models that are designed to strategically, assign weights to securities into an index based upon objective parameters.
They apply a series of objective, rules-based screens to index. Companies are then ranked and weighted based upon these specific factors.
Key features
■ Fund offer opens for subscription on November 26 and closes on November 30.
■ No entry load and exit load applicable for the scheme
■ Minimum subscription amount is I5,000 and in multiples of I1 thereafter
Ujjivan’s Personal loan for salaried professionals
Ujjivan Small Finance Bank, a wholly owned subsidiary of Ujjivan Financial Services Limited, launched personal loan facility for salaried professionals making it the first small finance bank in India to offer this.
The product will be launched across 14 tier-I and tier-II locations including Ahmedabad, Bengaluru, Delhi, Kolkata, Pune, Surat, Mumbai, Mysuru, Ankaleshwar, Coimbatore, Kochi, Chennai and Vadodara.
The facility is a new product to the existing loans offered by the bank — home loan (for purchase of property and construction) and business loans. The personal loan will be available for salaried professionals who are earning a monthly salary above Rs 15,000. Individuals can avail loans starting from Rs 50,000 up to Rs 15 lakh. One of the key features of the product is its attractive interest rate with complete digital processing. An individual may get the loan without any collateral or deposit of any asset. However, the bank will consider the credit history of the individual. Ujjivan will provide a flexible time frame of 12-60 months for an individual to pay EMI. The bank is utilising e-sign to ensure paperless processing during the post-sanction phase.
“This offering is aimed at reaching out to the customer segment that is deprived of these facilities due to lack of formal institution serving them,” Samit Ghosh, MD & CEO, Ujjivan Small Finance Bank said.
Ujjivan SFB has presence across 24 states and three Union Territories.
Key features
■ Personal loans available for professionals with a monthly salary above I15,000
■ Individuals can avail loans starting from I50,000 up to I15 lakh.
■ No collateral required, but the bank will consider the credit history of the individual