Birla Sun Life Mutual Fund has set September 19 as the record date for declaration of dividend in Birla Dividend Yield Plus — a pure equity scheme that was launched in February this year. It has paid 25 per cent in three bonuses previously. Fund manager Deven Sangoi said the fourth bonus would be higher than the last one, which was 12 per cent. The scheme is growing fast and currently has Rs 250 crore in assets under management. The scheme invests its corpus in high dividend yield companies. Its top five holdings include Hero Honda, Great Eastern Shipping, Indian Oil, ICICI Bank and Bank of Baroda.
ICICI Lombard has launched a comprehensive weather insurance to protect farmers against vagaries of weather. The product has been modelled in collaboration with the World Bank, ICICI Bank and BASIX — an organisation that provides micro-credit. It was test-marketed in Andhra Pradesh.
Allianz Bajaj Life Insurance Company, a joint venture between Allianz AG of Germany and Bajaj Auto, has declared the first reversionary bonus and a special bonus for all policies up to March this year. The total bonus rate for the main line of regular premium products will be 2.5 per cent of the sum assured of which 2 per cent will be compounded reversionary bonus and 0.5 per cent will be the special bonus.