 Broadly insurance can be classified in two categories: First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types: Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans. Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan . |
Asset management company AIG Investments on Thursday announced the launch of an open-ended world gold fund, to cash in on the ongoing uncertainty in global equity Markets and high inflation.
The feeder fund proposes to invest in Companies engaged in the extracting, processing and marketing of gold through its global fund AIG PB Equity Fund Gold.
"Keeping in mind the strong fundamentals of gold as an asset class, the fund is an alternative to equity investment. By investing in gold mining Companies, you could hedge your portfolio against market risks," AIG India CEO and MD Saurabh Sonthalia said. Gold stocks have the potential to outperform gold prices by a significant margin in the long run, he said.
The primary investment objective of the scheme is to provide long-term capital appreciation by investing predominantly in units of AIG PB Equity Fund Gold based in Zurich having corpus size of over USD 200 million.
At present, the global fund portfolio consists of 60 stocks across the different regions of the world.
The new fund offer will be open for purchase from April 15 to May 14 and will re-open for ongoing purchase and redemption by June 12.
AIG Investments, which manages five funds at present, has asset under management over Rs 3,200 crore.
Source :The Financial Express
