Aviva twin offer

Aviva Life Insurance has launched two new unit-linked funds — Secure Fund and Growth Fund. The Secure Fund — whose investment objective is to provide a progressive return on investment with a capital guarantee on maturity — will initially have an equity exposure of 10 per cent. The fund proposes to have a mix of debt securities (in the range of 50-100 per cent), equity (0-10 per cent) and money market instruments (0-20 per cent). The Growth Fund — whose investment objective is to provide high capital growth by investing higher in the equity markets — will initially have an equity exposure of 75 per cent. The fund proposes to have a mix of debt securities (0-50 per cent), equity (0-85 per cent) and money market instruments (0-20 per cent).

Makeover move

Franklin Internet Opportunities Fund is being converted into a diversified equity fund and renamed Franklin India Opportunities Fund from March 10, 2004. It is the latest in a series of technology funds that have been converted into diversified equity funds. Launched in February ’00, the fund’s current NAV is Rs 8.78.

Master stroke

UTI Mastergain ’92 has declared a dividend of Rs 3 per unit. The record date for payment of the dividend is February 13. It has in the past declared dividend twice: 12 per cent in October ’96 and 15 per cent in March ’00. The fund’s current NAV is Rs 19.26.