Phase II of Paradise City Announced To Launch By HDIL

Recently, Housing Development and Infrastructure Ltd (HDIL) announced to launch its second phase of mega township project - Paradise City. The City is being developed at Palghar (W).

An online news portal about business and economy - economictimes.indiatimes.com, writes about it, “The second phase offers 3,000 units for sale comprising 1RK, 1, 2 and 3 BHK formats, ranging from 340 sqft-930 sqft and shops ranging from 5,155 sqft-7,950 sqft. “

Further the news portal quotes a statement of the Company, “In less than two weeks, almost 100 per cent of the project's first phase was sold out. Paradise City is a mega affordable housing project that offers the convenience of modern living coupled with a green and clean environment. The project will offer over 20,000 designed homes at affordable prices.”

In the analysis, the news portal writes, “The well planned township is demarcated in 16 sectors; the second phase includes sectors 4, 5 and 6 and shops from 1, 2, and 3 which are open for bookings from today onwards.”

Another news portal - www.business-standard.com, writes about Phase II of Paradise City, “Paradise City is a mega affordable housing project that offers the convenience of modern living coupled with a green and clean environment. With close proximity to Palghar railway station, the project will offer over 20,000 elegantly designed homes at affordable prices; offering customers the best of modern amenities. As part of its holistic living experience the project will also have dedicated areas for retail establishments, at attractive price points. The well planned township is demarcated in 16 sectors; the second phase includes sectors 4, 5 & 6 and shops from 1, 2, and 3 which are open for bookings from 24th December 2010 at Kurla West and Palghar West.”

If you want to buy a home, it is a good time like investment in fund of New Exchange Traded Gold Fund of Axis MF.

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Short Term Income Fund Scheme Launched by Fidelity Mutual Fund

Recently, Fidelity Mutual Fund announced the launch of Fidelity Short Term Income Fund. It is an open ended income scheme that aims to generate reasonable returns primarily through investments in fixed income securities and money market instruments.

An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Fidelity Investment Managers, Managing Director and Country Head - India, Ashu Suyash, “At a time when investors have turned risk averse with hardening interest rates and increasing equity market volatility, we believe that Fidelity Short Term Income Fund could provide reasonable returns even over shorter periods of time.”

As per the news portal, “The NFO for the fund will open from November 19 and closes on November 30.”

So, now the fund is not available. Its closing date is very near now. Now, you can’t buy it.

Further, Ashu Suyash said to ET, “With this launch, we hope to reach out to a wide section of investors with an investment option that will leverage our expertise in bottom-up credit research to provide better post-tax returns over other interest bearing instruments including deposits.”

Short Term Income Fund Scheme of Fidelity Mutual Fund reaches a wide section of investors with an investment option.

About the Short Term Income Fund Scheme of Fidelity Mutual Fund, the news portal writes, “The fund presents a key building block for the asset allocation plans of retail and high net-worth investors and is in line with our overall objective of helping investors in reaching their financial goals.”

So, the fund basically presents a key building block for the asset allocation plans of retail and high net-worth investors and helping investors in reaching their financial goals. The investment plan was just like new open-ended exchange traded fund of Axis Mutual Fund.

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New Exchange Traded Gold Fund Launched by Axis MF

Recently, Axis Mutual Fund announced the launch of its new open-ended exchange traded fund. It is known as Axis Gold ETF. It is focused to on gold-related investment and derivatives.

An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Axis MF, “The fund will allocate a maximum of 100 per cent of its corpus for investment in gold, including derivatives. It might also invest up to 10 per cent of its corpus in money market instruments.

Market sources said Axis MF aims to mop up Rs 300 crore through the new fund offer (NFO), which closes on November 3.

The minimum investment in the Axis Gold ETF NFO is Rs 5,000.” So, the fund comes with 100% allocation of its corpus for investment in gold. It includes derivatives also. Minimum investment in this fund is Rs. 5000.

The news portal quotes a statement of Axis AMC Managing Director & CEO Rajiv Anand also, “Axis Gold ETF will give investors an opportunity to participate in gold as an asset class. Investors prefer gold in their portfolio as it acts as a shield in times of market turmoil.”

Further the news portal adds, “The scheme will be benchmarked against the domestic price of gold. The ETFs will be listed on the National Stock Exchange.

Following its listing, Axis Gold ETF will be the seventh listed gold ETF on the Indian bourses. The total assets under management (AUM) of the six fund houses that had listed gold ETFs on domestic exchanges as of September 30 was over Rs 3,000 crore.”

The news portal quotes another statement of Mr. Anand, “Performance of gold has been good in the last six years. ETF investment would provide investors liquidity as they can trade in the instrument.” It is really a good news in financial market after the launch of Kotak Secure Invest Insurance and Kotak Wealth Insurance by Kotak Life Insurance.

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