New Pension Fund Scheme will be launched by PFRDA...

The Pension Fund Regulatory and Development Authority (PFRDA) has come up with a pension fund scheme for all those employees who are working in unorganized sectors including retail, textile and mines. This pension fund is expected to be active in the next six months.

For this scheme, the PFRDA has already selected four companies namely Mercer, Ernst & Young, PricewaterhouseCoopers and Crisil, which will help in recruiting the institutional advisor.

The CEO of PFRDA, Mr. N R Rayalu has declared that the authority is in the process of appointing an institutional advisor to advice on the pension scheme. Further four parties have been selected and the advisor will be short listed in 10-15 days. He further added,

This will help PFRDA roll out the scheme for the unorganized sector within a period of six months.

The PFRDA expects to give benefits to many unorganized sector by giving them the privilege of having them the benefits of the pension plans.

$500 million investment will be made by Pepsico in...

Recently PepsiCo has found India to be a very good market for their business in near future. It is planning a USD 500 million investment over the next three years.

Indra Nooyi, Chairperson and CEO, PepsiCo said, “As a tangible sign of our continued confidence in India, I’m delighted to announce that we are expecting to invest a further USD500 million over the next three yrs with the goal of tripling our business here. This investment will create additional 50000 jobs.”

“The problems on Wall Street have not yet trickled over to the Main Street, which is where we are. Our business continues to be robust. We generate a lot of cash. We are financially very healthy. I don’t believe problems on Wall Street will affect companies like ours,” Nooyi said.

ICICI Prudential SMART fund appealing retail inves...

ICICI Prudential has launched a new product, ICICI Prudential SMART fund. NFO opened on August 18 which will be closed on September 19. Nilesh Shah, Deputy Managing Director of ICICI Prudential, revealed that SMART Fund will be placed among the retail investors also as it is not a kind of capital protected product.

Though credit risk is involved in it, there will be no market risks. Debentures are formulated in such manner that when the Nifty index go down, they do not participate, having the principal amount back credited with some minimum assured returns.

1. It is a structured debt scheme which seeks investment of 95% on equity-linked debentures,
2. Have two plans of 720 days and 1,080 days.
3. Investors will have opportunity to earn equity market linked returns.
4. It tends to High Net worth Individual (HNI) product for its complexity.
5. The Company is seeking to offer Structured Methodology Aiming at Returns over Tenure, which they call SMART Fund.

It seems that the petrochemical related products’ prices will come down due to the drop in the global price of oil. Though now RBI will be taking the final decision whether to tighten or not, the fixed income market has been divided.