Sunday, 10 June 2012

New Issue of Fixed Maturity Plans (FMPs)

Fixed Maturity PlansFixed Maturity Plans (FMPs) are a type of mutual funds which has a fixed time period for maturity. These Fixed Maturity Plans are Closed Ended Mutual funds and these funds are investing the pooled money of investors in debt related financial products.  It offers steady return to the investor with capital protection and this is almost equal to fixed deposits.

But in Fixed Maturity Plan the return is not assured as Fixed Deposits. Even though  the investor can expect a fixed return from the investment at the maturity after a pre-determined period. As per the direction of SEBI, the market regulator, the mutual fund house does not offer any specified return at the time of New Fund Offer (NFO). But most Fixed Maturity Plans are able to give you an equal interest rate or bit more than fixed deposits for a long period FMPs.

There is no TDS (Tax Deducted at Source) for Fixed Maturity Plans. But the interest or the profit is taxable and the investor should show the profit in the Income Tax Return and should pay Income Tax Accordingly. Following are the Fixed Maturity Plans Presently open in the market. 

Birla Sun Life Short Term FMP - Series 35 for 180 Days opened on 04th June, 2012 and will be closed on 11th June, 2012.

Birla Sun Life Short Term FMP - Series 36 for 91 Days opened on 04th June, 2012 and will be closed on 11th June, 2012.

Birla Sun Life Short Term FMP - Series 37 for 269 Days opened on 04th June, 2012 and will be closed on 18th June, 2012.

Birla Sun Life Short Term FMP - Series 38 for 91 Days opened on 04th June, 2012 and will be closed on 18th June, 2012.

HDFC FMP 372D June 2012 (2) for 372 Days opened on 06th June, 2012 and will be closed on 11th June, 2012.

ICICI Prudential Fixed Maturity Plan-Series 64 for 274 Days opened on 08th June, 2012 and will be closed on 12th June, 2012.

IDFC Fixed Maturity Plan - 366 Days Series 80 for 366 Days opened on 08th June, 2012 and will be closed on 11th June, 2012. 

Tata Fixed Maturity Plan Series 40 Scheme E (370 days) for 370 Days opened on 07th June, 2012 and will be closed on 11thJune, 2012.

If you are interested in any of the above-mentioned Fixed Maturity Plans please contact your mutual fund broker or login to your Online Stock Trading Account. But we strongly recommend that read the details of each Fixed Maturity Plans from the concerned website before investing in any of them.

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3 comments :

  1. [...] Company Private Limited (In association with Vijaya Bank). This is a close ended income plan (Fixed Maturity Plan) and the amount invested can be redeemed at 1098 days of the allotment of the scheme.  The [...]

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  2. [...] Company Private Limited (In association with Vijaya Bank). This is a close ended income plan (Fixed Maturity Plan) and the amount invested can be redeemed at 1098 days of the allotment of the scheme.  The [...]

    ReplyDelete