Life Stage

ICICI Prudential Life has launched a unit-linked plan called Life Stage RP. The policyholder will decide the portfolio strategy and premium amount. After deducting premium allocation charges, the fund is invested in a portfolio of debt and equity. If the policyholder passes away, the nominee will get the sum assured plus the fund value. The plan has two investment strategies — lifecycle-based portfolio and fixed portfolio. Under the lifecycle-based portfolio, the investment is split between growth and debt options. The asset allocation between the two options is done according to the age of the policyholder.

SBI debt fund

SBI Mutual Fund has launched a 90-day fund under the SBI Debt Fund Series. It will be available for subscription till August 27. The fund will mainly invest in AAA and AA+ rated debt instruments, government securities and money market instruments. The fund offers growth and dividend options. The minimum investment in the fund is Rs 50,000.

DSPML payout

DSPML Mutual Fund has declared a net dividend of Rs 22.31 per unit under its DSPML Fixed Term Plan - Series 1M. The record date for the dividend payout is August 28. The net asset value of the fund is Rs 1,021.0603.