Monday, February 28, 2011

New Income Tax Rates for the FY 2011-12

New tax slabs: for Male individual taxpayer
Slabs (Rs)

New tax slabs: for female individual taxpayer
Slabs (Rs)
 upto 1,90,000
 800001 and above

Wednesday, February 23, 2011

HDFC launches Debt Fund for Cancer Cure

HDFC has launched a close ended fund , HDFC Debt Fund for Cancer Cure (HDFCC).  This will be a capital protection oriented scheme.  This scheme will enable unit holders to contribute the dividend declared to Indian Cancer Society. This donation will be eligible for deduction under section 80G of Income Tax Act.   Investors may opt to donate either 50 per cent or 100 per cent of such dividend declared. The amount would be automatically contributed to the ICS. The dividends, as is the case with all mutual funds would be tax-free in the hand of the investor. The fund is suitable only for those investors whose primary objective is philanthropy than generating high returns.

The NFO will close on 4th March 2011.
For details visit

Monday, February 21, 2011

What are Exchange Traded Funds (ETFs)?

Exchange Traded Funds are essentially Index Funds that are listed and traded on exchanges like stocks. Until the development of ETFs, this was not possible before. Globally, ETFs have opened a whole new panorama of investment opportunities to Retail as well as Institutional Money Managers. They enable investors to gain broad exposure to entire stock markets in different Countries and specific sectors with relative ease, on a real-time basis and at a lower cost than many other forms of investing.

An ETF is a basket of stocks that reflects the composition of an Index, like S&P CNX Nifty or BSE Sensex. The ETFs trading value is based on the net asset value of the underlying stocks that it represents. Think of it as a Mutual Fund that you can buy and sell in real-time at a price that change throughout the day.

                                                 PERFORMANCE OF EXCHANGE TRADED FUNDS
SchemesLatest Price % ChangeAsset SizeNAVReturns in % (as on Feb 21, 2011)
    (Rs. cr.)(Rs./Unit)1wk1mth3mth6mth1yr2yr3yr  
Kotak PSU Bank ETF449.870.3665.73446.551.95.9-11.1-2.642.967.912.9
PSU Bank BeES438.001.509.20432.291.95.9-11.1-2.642.765.111.7
Bank BeES1,108.49-0.0046.601,099.721.43.1-9.3-1.729.565.56.2
Reliance Banking ETF1,050.00-0.2814.551,119.861.33.0-9.3-1.729.365.2--
Reliance Gold ETF1,939.350.33340.611,932.931.
Gold BeES1,999.200.181,633.871,987.781.
SBI Gold Exchange Traded Fund2,028.750.43175.932,
Quantum Gold Fund994.000.6026.63988.411.
Kotak Gold ETF1,998.800.43229.931,986.461.
UTI Gold Exchange Traded Fund2,004.050.38449.401,987.
ICICI Pru SPIcE Plan186.000.001.12190.71---4.0-6.5-0.713.541.41.0
Nifty BeES559.701.01570.04551.510.1-4.0-7.3-1.313.539.81.1
Kotak Nifty ETF555.770.5013.46549.79---4.1-7.3-1.413.5----
Kotak Sensex ETF185.00-0.3417.15185.11---4.0-7.0-1.213.342.8--
Junior BeES109.020.51127.44108.000.1-4.5-14.8-
Shariah BeES123.500.490.95122.18-0.3-5.5-6.0-0.96.8----
Hang Seng BeES1,377.28-1.2662.471,395.391.5-4.0-0.88.6------
ICICI Pru Gold ETF2,050.700.3687.352,048.461.
HDFC Gold Exchange Traded Fund2,034.000.15300.662,031.481.
Liquid BeES999.990.00477.151,000.00--------------
Religare Gold ETF2,070.000.0038.962,042.651.
* Returns over 1 year are annualised.