Kotak Life’s all new product
Kotak Mahindra Old Mutual Life Insurance Ltd on Wednesday announced the launch of ‘Platinum Advantage Plan’, which offers capital protection, embedded investment advice, life cover and aggressive market linked growth options in one life insurance plan.
    It also offers the flexibility to adjust the risk profile and tenure of investments based on evolving needs that come with various stages in a person’s life. The product, designed to cater to the varying needs of investment planning and protection over the life cycle of an individual, is primarily targeted at the urban consumers in the age group of 0 to 65 years, the company’s MD Gaurang  Shah said in Bangalore.
Fidelity launches Growth Fund
Fidelity Fund Management on Thursday announced in Mumbai the launch of the Fidelity India Growth Fund, an open ended, diversified equity fund, which will invest largely in growth oriented companies in Indian and international markets to deliver long term capital appreciation.
   The new fund offer (NFO) will remain open from September 3 to Septemebr 26, 2007. Benchmarked to the BSE 200, the Fidelity India Growth Fund will have a normal allocation to equity and equity related securities of 95 per cent, with a range from 80 per cent to 100 per cent.
    The balance will be in cash. The minimum amount for lump sum investments is Rs 5,000. The entry load is 2.25 per cent for each purchase of less than Rs five crore. 
BoB to enter insurance sector
Bank of Baroda (BoB) would soon enter the insurance sector as well as in the field of estate management for which it would join hand with foreign companies. “For insurance, a MoU is being finalised with a UK-based famous company legal and general and for estate management, a JV with Italy-based pioneer group is planned,” the Bank’s CMD Anil Kumar Khandelwal said in Jalandhar on Thursday. However he did not mention the firms’ names.