Mutual funds plan to tap market for children plans

This article was originally published on this site

Mutual Funds
Investors in the equity markets are expected to witness a slew of equity oriented plans targeted to meet children’s long term funding requirements, according to reports. At least four fund houses have filed a draft offer letter with the Securities and Exchange Board of India (SEBI) over the past one-year seeking the regulator’s approval to launch children specific plans.They include Reliance Children Fund, SBI Children Benefit Fund, DSP Black Rock Children Gift Fund and Mahindra Mutual Fund’s Bal Vikas Yojana. The main objective of the scheme as mentioned in the offer letter is to generate long-term capital appreciation and income by investing predominantly in equity & equity related instruments and balance in debt and money market instruments to help the investor in achieving the financial goals for the children.