AIIMS Doctors get Sixth Pay Commission Arrears & Salary Hike

The latest news on Sixth Pay Commission is for the AIIMS Doctors, who are going to benefit from the recommendations of the Sixth Pay Commission. It comes as a new year gift to all the doctors of AIIMS, who had initially refused to accept the initial recommendations of the 6th Pay commission and demanded that there pay scales should be made similar to those at IIT's and IIMs. These AIIMS Doctors, basicallay government employees from AIIMS will be getting the benefits of the Sixth pay Commission Panel Recommendations. Sixth Pay Commission Pension

How many months of arrears will be paid to the AIIMS Doctors following the Sixth Pay Commission Recommendations?
It is reported that the pay hike for AIIMS Doctors will be effective from 1st January 2006 and the allowances will be paid from September 2008. That will mean a big amount of money will be paid in arrears to the AIIMS Doctors.

Will the arrears be paid in installments to the AIIMS Doctors ?
No info is available about that, but looking at the arrears payment trend, that seems possible.

General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Which are the other institutes to benefit from this salary hike?
PGI Chandigarh, Nimhans, Bangalore and the Jawaharlal Institute of Post-Graduate Medical Education and Research, JIPMER, Pondicherry or Puducherry will also benefit from pay hike. Also, in Northeast, the Lokapriya Gopinath Bordoloi Regional Institute of Mental Health, Tezpur, and the Regional Institute of Medical Sciences, Imphal, will benefit.

Many doctors from these institutes, who had left to join other private institutes may now be repenting their decisions. Possibly they will get their share of payments for the period of services, but nothing is clear as of now. May be some of them will think seriously about joining back these institutes.
The centre revealed that this measure is being taken as a part of sixth pay commission benefits as per UGC scale

Fennec: Mozilla Firefox Web browser for Mobile Phones

Come 2010, and one of the leading internet browser company, Mozilla which is best known for its browser Firefox, will be launching the much awaited browser called Fennec, specially designed & customized for the Mobile Phones or Cell Phones. Here is the Picture of Fennec: Mozilla Firefox Web browser for Mobile PhonesFennec: Mozilla Firefox Web browser for Mobile Phones

Fennec, the Mozilla Firefox Web browser for Mobile Phones, is expected to take the browser war to a new level. Though it is estimated that Firefox is one of the leaders in the PC based version of browsers and has around 25% share in the browser market, it is a laggard in the mobile phone browser segment. The increasing use of mobile phones to access the internet is focring the web-browser companies to provide a customised mobile version. It is this area which Mozilla is attempting to target with its Fennec - the Mozilla Firefox Web browser for Mobile Phones

What will be new features in Fennec?
Fennec - the Mozilla Firefox Web browser for Mobile Phones, is expected to have all the usual features of a standard web browser and along with that it is also learnt that it will include touchscreen support (a growing area for touch screen mobile phones), pop-up blockers (which is not available commonly in phone browsers) and also tabbed-browsing for easy accessibility.

Who are the competitors to Fennec - the Mozilla Firefox Web browser for Mobile Phones
The existing market is clearly dominated by Opera (the Opera Mini Browser) for Mobile phones. Then comes Safari (from Apple), followed by Nokia, iTouch and the others like BlackBerry, Android, etc.

The market for web browsers is big and fast changing. It hardly took a year for Google to get a significant market chare for its Chrome Browser. Let's see what unique features Fennec has to offer, once it is released.

Domino's Pizza IPO Jubilant Foodworks IPO: Review Analysis & Details

Despite the lacklustre performance of most of the IPO's in the year 2009, the stock market is egelrly awaiting new entrants. The famous Pizza Delivery chain - Domino's Pizza franchisee, called Jubilant Foodworks (the operator of Domino?s Pizza stores) are planning to come out with their Initial Public Offering or IPO.
In this article, we will look at the Review, Analysis and Details of the Domino's Pizza IPO Jubilant Foodworks IPO and try to do the Review and analysis of Domino's Pizza IPO Jubilant Foodworks IPO. Dominos Pizza IPO Jubilant Foodworks
Some basic details first about the Domino's Pizza IPO Jubilant Foodworks IPO, which are available as of now:

- The Jubilant Foodworks Dominos Pizza IPO is expected to sell around 36% of their stake in the company through the IPO.

- The purpose of the IPO is to raise funds and expand the business

- The company has presence in India and Sri Lanka

- There are a total of 279 Pizza stores as of now

- The India Private Equity Fund (Mauritius) and Indocean Pizza Holding Ltd. that bought stakes in the Pizza chain in 1999 will sell their entire 32 percent holding in the offer, arranged by Kotak Mahindra Capital.

What is the issue size of the Domino's Pizza IPO Jubilant Foodworks IPO?
Around 36% stake will be sold

How is the share distribution done?
No info is available as of now.

How will the capital raised by Domino's Pizza IPO Jubilant Foodworks IPO be used?
The company would use the IPO proceeds for expansion of its business.

What is the price band of the Domino's Pizza IPO Jubilant Foodworks IPO
The price band for shares of Domino's Pizza IPO Jubilant Foodworks IPO is not known as of now.

What is the trading symbol & exchange for the Domino's Pizza IPO Jubilant Foodworks IPO
No info is available about the trading symbol.

What are the IPO dates for Domino's Pizza IPO Jubilant Foodworks IPO
The IPO for Domino's Pizza IPO Jubilant Foodworks is going to come sometimes early 2010. The DRHP is filed with SEBI.

What is the business prospect and company profile of Domino's Pizza IPO Jubilant Foodworks?
The company is banking upon the spending power and youth generation which again comes to spending on trnedy things - and pizza is surely a big way to go.

Who are the underwriters of the Domino's Pizza IPO Jubilant Foodworks IPO?
Kotak are the BRLM or Book Running Lead Managers of the issue.

What are the analysts recommendations for this IPO?
No recommendations from market analysts are available as of now

Karnataka Bangalore College Lecturers get Sixth Pay Commission Arrears & Salary Hike

The latest news on Sixth Pay Commission is for the Bangalore College Lecturers, who are going to benefit from the recommendations of the Sixth Pay Commission. These Bangalore College Lecturers, basicallay government employees from Bangalore will be getting the benefits of the Sixth pay Commission Panel Recommendations. Sixth Pay Commission Pension

How many months of arrears will be paid to the Bangalore College Lecturers following the Sixth Pay Commission Recommendations?
It is reported that 51 months of arrear payments will be made to the Bangalore College Lecturers following the Sixth Pay Commission recommendations.

Which employees will benefit?
It is learnt that lecturers of the Department of Higher Education will benefit from the pay hike or salary revision.

What will be the benefits to be given to the concerned employees or lecturers?
The salary is expected to increase by around 38%. This will mean around 18.5 K lecturers from all over state will benefit from this decision. The good news is that a cicular with the settlement and clearing of the arrears payment is already issued by the Karnataka Government.

How much extra money will be required by the state and where will it come from?
IT will cost the state around 950 Crores.

General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Other benefits for the Sixth Pay commission Recommendations?
The retirement age is also increased. It is now 62 years instead of 60 years which means that teachers will get 2 extra years of service. This will be in effect from 25th Sept 2009.
As per DNA, With the revised pay scale, an associate professor in Bangalore will get a total pay of Rs 31,300 each month, while a professor will take home Rs 63,500. The house rent and city compensation allowances are also increased to make it on par with the UGC scale. The college teachers are also eligible for pension, leave travel concession and medical allowance like any other government employee, Limbavali said.

Those casual lecturers, whose services have been regularised, are also entitled to the pay hike. The recently appointed lecturers will be eligible for the raise on completion of their probation period.

The lectures will be trained under the Sahayog scheme in 300 colleges across the state from January 20.
All thanks to the Sixth Pay commission recommendations and their implementations.

Google Nexus One Phone: Does Google really need it?

There is a lot of Googling going on about the Google Nexus One Cell Phone. The net, storyboards, blogs, tweets and infact the entire web is full of news and pictures of the Google Nexus One Cell Phone. Google Nexus One Phone
However, as a Business Analyst, I am a bit skeptical about this venture that Google is getting into.

First, What is the intention of Google when it says that it wants to sell Google Nexus One Cell Phone directly to the consumers? I cant understand that when there are so many cell phones or better to say smart phones available in each part of the world, what is Google trying to do by coming up with its own brand of phones?
True that Google is a big name, but imagine the stiff competition it will face from the existing smart phones.

Second, Google is going solo. No strings attached, no carrier bounds like one must go with AT&T or Verizon. However, that might mean that Google will not be able to provide the required discount to the buyers, which is possible when the manufacturer and the cell phone connection carrier join hands.

Third, remember iPhone. It was an instant hit. However, after some months, many other smart phones were found to be better than the iPhone. The remade low cost Chinese models were the choice for their low costs, no strings attached about connections and easy availability. What if Google Nexus One Cell Phone also meets the same fate?

Fourth, is mobile phones the core of Google Business? I dont think so. Google is a search company. Although it has launched many new things - bloggger, picasa, chrome, etc., but it still remains a software company. What is forcing it to shift to hardware? As WSJ claims, Google did not build computers or the internet, but it dominates the computers as well as the internet. It would have made more sense for Google to build web applications for mobiles, rather than a mobile phone itself. The business deviation might look a good venture into a new hardware stream, but the risks of failure are no less.

Hope to see some concrete returns for the shareholders of Google after the launch of the much awaited Google Nexus One Cell Phone.

Corporate Actions Processing: Introduction, Example & Course Outline for CA Processing

What are Corporate Actions? How are they processed? In this article, we will give a brief introduction about the various sub topics involved in the Corporate Actions Processing. Corporate Actions
Despite all kinds of computer automation and programs available, the Corporate Actions processing still is dependent upon the manual processing. Although many systems claim to have the Corporate Actions processing through automation or So called Straight through processing (STP), the truth is that it still requires a lot of manual intervention and pre-processing setup. Hence, it is very important for a financial professional to become familiar with the Corporate Actions Processing and the various concepts and steps involved.


-- What is a corporate action event and why is it important?:
The details and introduction to CA Processing and what is the financial importance of the Corporate Actions Processing.

-- Types of corporate action events in Corporate Actions Processing:

 Mandatory Corporate Actions

 Voluntary Corporate Actions

-- The role of market data in Corporate Actions Processing:

 Details of the Corporate Actions event

  -Types of Corporate Actions Processing

  -New values of Corporate Actions Processing

  -Ratio calculations in Corporate Actions Processing

  -Dates and their importance in Corporate Actions Processing

 Sources of market data for Corporate Actions Processing

  -Vendors - data required from vendors for Corporate Actions Processing

  -Specialties about Corporate Actions Processing

  -Scrubbing the data for Corporate Actions Processing

-- Industry Utilities for Corporate Actions Processing:

 Off-the-shelf applications - Intro to some ready available software applications for Corporate Actions Processing

 DTC RIPS

-- Processing Voluntary Events in Corporate Actions Processing:

 Types of Corporate Actions Processing

  -Conversions in Corporate Actions Processing

  -Exercises in Corporate Actions Processing

  -Investments factors in Corporate Actions Processing

  -Tenders in Corporate Actions Processing

 Typical work flow for Corporate Actions Processing

 Case Study about Corporate Actions Processing

-- Processing Mandatory Events in Corporate Actions Processing

  Types of Corporate Actions Processing

  -Bankruptcy case in Corporate Actions Processing

  -Call options in Corporate Actions Processing

  -Merger in Corporate Actions Processing

 Typical work flow of Corporate Actions Processing

 Case Study

-- Risks in Corporate Actions Processing:

 Types of Risks in Corporate Actions Processing

 Impact of failure or mismanagement or mishandling in Corporate Actions Processing

 Mitigation alternatives in Corporate Actions Processing Risks

-- Global Perspective in Corporate Actions Processing:

 Differences in data collection and processing

 Unique operations-related challenges

 Impact on the US operation

-- Evolving Trends in Corporate Actions Processing

 New events, new outcome comes with new challenges

 Event data warehouse

 Event data guarantee of accuracy

 Should an industry utility develop a partial or total solution?

Financial Mathematics: Introduction, Topics, Examples & Course Outline

Continuing further from our previous article Financial Accounting, In this article, we will cover another well known and most sought after topic of Financial Mathematics. Money requires understanding, and that understanding can come only when you know maths quite well. Now the maths required for Finance is not algebra or trigonometry, but there is a seperate section called Financial Mathematics. Financial Mathematics
Here we cover some basic details about the Financial Mathematics course outline, what all is covered in Financial Mathematics and how useful is Financial Mathematics for survival in Financial World. Making correct calculations for profit / loss is as important as making the right investment decision. Moreover, with the introduction of complex financial products like derivatives, options, swaps, etc. it has become a necessity for not just the financial professionals and investors but even for the individuals to know and understand Financial Mathematics.
Even if you are not an investor or trader, chances are that you might have taken a loan or might be manageing a savings account. You need to understand the effective interest rate payments you make for your loan repayment or credit card and the effective interest you receive from your savings account.

The course on Financial Mathematics teaches you all these things. The course on Financial Mathematics includes the following:

Fundamentals of Financial Mathematics:

 -- Time Value of Money o Cash Flows and Discount Rates o Present Values o Future Values

 -- Investment Measures

 -- Returns: Calculation and Conventions

 -- Interest Rates, Yields and Rates of Return Compared

Fixed Income Analytics of Financial Mathematics:

 -- Price and Yield Calculations

 -- Yield Curves, Spot Rate Curves and Fixed Income Valuation

 -- Quantifying Interest Rate Risk


Equity Securities Analytics of Financial Mathematics:

 -- Pricing Models: Discounted Cash Flows, Earnings or Dividends

 -- Pricing Models: Earnings, Cash Flow, Sales or Book Value Multiples

 -- Capital Asset Pricing Model (CAPM)

 -- Beta and Systematic (Market) Risk

 -- Index Model and Equity Investment Selection

ALong with these topics and their theoretical knowledge, you may also be required to get a lesson in fundamental tools and applications like MS Excel, E-views, Matlab etc

Financial Accounting: Introduction, Topics, Examples & Course Outline

In this article, we will cover another well known and most sought after topic of Financial Accounting.
As we have seen, many scams have unfolded in the world, primarily in the stock markets listed companies, just because of the accounting issues. The cases of Enron, Worldcom, Parmalat, AlbertHein of Netherlands, etc. are well known. They are typical examples of how financial accounts can be manipulated to gain/ show imaginary profits and bloated sales figures. Ultimately, it is blamed on the financial accounting. Hence it is very very important for a firm or even an individual investor to be extra vigilent and careful about creating, writing or even reading these financial accounting numbers.

In this article, we will see the various topics and sub topics which are covered for Financial Accounting. Although we aim to give all the required information, the fin details may still need a thorough analysis and study.

Financial Statements within Financial Accounting:

-- Types of Financial Statements

-- How the different Financial Statements Relate to One Another

General Accounting Issues of Financial Accounting:

-- GAAP (Generally Accepted Accounting Principles)

-- Accounting Concepts and Conventions

Structure and Interpretation of Financial Statements of Financial Accounting:

-- Balance Sheet: Assets, Liabilities and Equities

-- Income Statement: Revenues, Expenses, Gains and Losses

-- Cash Flow Statement: Cash Provided by/used for Operations, Investments and Financing activities

Tools and Techniques for Analyzing Financial Information of Financial Accounting:

-- Financial Ratios

-- Use and Misuse of Financial Ratios in Analyzing Financial Statements

Swaps Processing: As Introduction to Swaps Market & Swaptions Terminology

In this article, we will talk about a most common form of financial derivative which is traded heavy as an OTC product and is called SWAP. Swap & Swaptions
We will cover a brief outline about the Swaps Introduction, What affects the Swap pricing, Risks in Swap transactions, the Swap Market, Swaptions and other related topics.

The typical topics covered when you undergo a swap lesson or course are as follows:

--Overview of the swap market :
This would include a brief overview and introduction about the swaps market, the swaptions market, how the market works and who all are the swap market participants.

--Factors affecting Swap market and pricing: Interest Rate, Currency, Credit Default and Equity Swaps :
Characteristics of all these factors and how they affect the swap market and pricing mechanism

--The roles of the sales and trading desks in swaps market:
This would primarily cover the details of how swap deals take place, originate and contract details and what roles do these teams have to play

--Counterparty risk :
Swaps market primarily is an OTC or Over the Counter Market. Hence, this Counterparty risk is a significant risk in the swaps market.

--Price dissemination in a swaps market :
How Prices are disseminated for swaps market

--Collateral management in a swaps market :
Various aspects of Collateral management in a swaps market

--How swap deals are confirmed :
The methodolgy for swaps and swaption deals and how the process takes place. This is important since swap market is an OTC market, so the entire process should be clear.

--ISDA agreements and documentation :
Required regulatory procedures.

--The evolving infrastructure of the industry :
Swaps are emerging as the hot products for banks and other organizations to hedge their risks and re-structure their loans. Hence they are becoming very common.

--Functions of Clearing House and alternatives for swaps market:

--Calculation, advice, and settlement of payments for swaps :

--Issues for operations for swaps

Mortgage-Backed Securities: Securitization and Processing Introduction

In this article, we will learn about the Mortgage-Backed Securities, the Securitization process and Introduction to Securitization process . Though this article may not be covering the full minute details about entire Securitization process, but it will give you a clear introduction about the process and steps involved in the Securitization Process for Mortgage-Backed Securities. It will also talk about the various market participants, the types of Mortgage-Backed Securities, the models to be followed and related topics. Securitization Process for Mortgage-Backed Securities

-- Participants in the Securitization and Processing of Mortgage-Backed Securities: Who all participate in the Securitization and Processing of Mortgage-Backed Securities? Here is the list of market and process participants
  -- Investors of Securitization Processing
  -- Originators in Securitization Processing: These are typically Banks, institutional investors, funding partners or Lenders
  -- Issuers: Something similar to the BRLM or Book running lead managers of a fresh issue. They are typically Agencies, Banks, Lenders
  -- Guarantor of Securitization Processing
  -- Dealers of Securitization Processing
  -- Servicers Organizations in Securitization Processing

-- Basic Mortgagle Facts about the Securitization and Processing of Mortgage-Backed Securities:
  -- Lien
  -- Amortization schedule
  -- Residential
  -- Commercial
  -- Characteristics of mortgages
  -- Types of mortgages
  -- Mortgage cash flows

-- Guarantees provided by the Government Sponsored Enterprise (GSE) in the Securitization and Processing of Mortgage-Backed Securities:
  -- Government National Mortgage Association
  -- Federal Home Loan Mortgage Corporation
  -- Federal National Mortgage Association

-- Fundamental Types of Mortgage Backed Securities: Basics of Mortgage Backed Securities
  -- Conforming
  -- Non-Conforming

-- Securitization Process Model in the Securitization and Processing of Mortgage-Backed Securities:
  -- Origination
  -- Securitization
  -- Secondary Market
  -- Investors
  -- Servicers
  -- Mortgage Rates versus MBS Coupon
  -- Cash Flows

-- Characteristics of the Mortgage Backed Securities:
  -- Types of mortgage pass-through securities
  -- Characteristics of pass-through securities
  -- Demographics
  -- Seasonal patterns
  -- Home sales
  -- Availability of money
  -- WAC - WAM - WALA
  -- Prepayments - PSA benchmark

-- An introduction to the MBS Marketplace (Securitization and Processing of Mortgage-Backed Securities):
  -- Over The Counter
  -- Trade Types
  -- Transaction Size
  -- Variance
  -- Settlement Periods

-- Process Lifecycle of a MBS Trade in the (Securitization and Processing of Mortgage-Backed Securities):
  -- Execution of Securitization Processing
  -- Risk Assesment and Management Process in Securitization Processing
  -- Trading and Allocation of capital and resources in Securitization Processing
  -- Settlement Processing of Securitization Processing

Fixed Income Trade Lifecycle: Introduction, Example, Process & Functions

In this article, we will explain the Fixed Income Trade Lifecycle. All topics, examples, introductions, steps and processes involved in Fixed Income Trade Lifecycle are explained. Fixed Income Securities

Related: Fixed Income Securities Market: Introduction & Example
-- Fixed Income Products of Fixed income Market : What makes up a particular market? It's the assets that are traded (bought or sold) in that market. Hence, a good starting point for Fixed income Market Introduction will be the Fixed income Security types. Let's begin with the introduction of the assets traded in the Fixed Income Security Markets. Here is the list:

-- US Government Fixed Income Securities

-- Municipal Fixed Income Securities

-- Corporate Fixed Income Securities

-- MBS Fixed Income Securities

-- CMO Fixed Income Securities

-- ABS Fixed Income Securities

-- Participant of Fixed income Market :

-- Buy-side Fixed Income Market Participants: These are the typical big investors, which may include Insurance Companies, Investment firms, Portfolio Management companies, func houses, etc.

-- Sell-side Fixed Income Market Participants: These are the typical market makers. They act as broker dealers and maintain required liquidity in the market.

-- Industry Utilities Fixed Income Market Participants

-- Industry Service Organizations Fixed Income Market Participants

-- Fixed income Markets : Different products are traded differently. For e.g. though these is a lot of online shopping, but people still prefer to purchase fresh vegetables from the farmers in the local vegetable market. Similarly, most of the Fixed Income Securities being the OTC (Over the Counter) Securitites, are having different kinds of markets for them.

-- Marketplaces for Trading Fixed Income Market

-- Electronic Trading for Fixed Income Market

-- Telephonic Trading for Fixed Income Market

-- Inter-dealer Brokers Trading for Fixed Income Market, where trading is done between 2 brokers or dealers

-- Order Processing & Execution of Fixed income Market :

-- Order Receipt & acknowledgement

-- Routing to the clearing & settlement agency

-- Middle Office Functions of Fixed income Market :

-- Trade Entry into the system for enrichment and validatiopns

-- Trade Reporting to counterparty, custodian, regulators, etc.

-- Inventory Management - involves book keeping, margin requirements, etc.

-- Confirmation/Affirmation - Instructions sent electronically or snail mail for confirmation of trades and acknowledgements.

-- Trade Comparison in Fixed income Market :

-- Real Time Trade Matching

-- Industry Utility

-- Processing of Trade

-- Clearance Function in Fixed income Market :

-- Trade Guarantee

-- Central Counterparty

-- Novation

-- Industry Utility

-- Settlement in Fixed income Market :

-- Environments

-- Exchange of Value

-- Federal Reserve/Clearing Banks

-- Depository Trust Company

-- Fail Control & Financing Opportunities in Fixed income Market :

-- Fails

-- Financing

-- Securities Borrow/Loan

-- Inventory Control in Fixed income Market :

-- Depository Trust Company

-- Federal Reserve/Clearing Banks

-- Physical Securities

-- Stock Record in Fixed income Market :

-- Books & Records

-- Income or Money Collection & Income Distribution in Fixed income Market :

-- Interest

-- Principal Repayments

-- Corporate Action Processing of Fixed income Securities Market :

-- Types of Events

-- Event Processes

-- Trends Identifiers of Fixed income Market Trading:

-- Fixed Income Trading – On an Exchange?

-- The Impact of Credit Rating Agency Optimism

Interest Rate Futures: Introduction, Examples & Tutorials to Interest Rate Futures

Interest Rate Futures IRF are something that are gaining real good popularity. They are a kind of derivatives, which are based on interest rates, and offer hedging, arbitrage and speculative opportunities for various market participants. Interest Rate Futures

Typically, it will be the banks which will get into Interest Rate Futures Contracts. However, with the invent and opening up of the Interest Rate Futures & other derivatives as listed products on leading stock exchanges of the world, now even the retail investors and traders can also put in their money into Interest Rate Futures & Derivatives.

In this article, we will talk about the various interest rates futures and derivatives. We will cover examples of Interest Rate Futures, Interest Rate Derivatives and provide a guideline to the topics covered as a course content for Interest Rate Futures & Derivatives.

Related How Interest rates affect stock prices

With the high volatility in the interest rates market and its negative correlation with the stock market returns (though debatable) and the recent recession, it has become clear that nothing in this world can remain stable and the same applies to the interest rate markets. Hence, just because you've bought a 20 year long bond which promised 10% annual return, it does not mean that the interest rates will remain the same during the whole 20 year period, and the price of the bond will also fluctuate because of the variation in the interest rates markets. Hence, it is very very important, not only for the traders and banks, but also for the retail investors like you and me, to be aware of the interest rates fluctutations and its affect on the overall market and the various financial instruments.

Here are the contents of any course on the Interest Rate Futures:

-- Interest Rate Futures terminology and definitions
-- Characteristics & Types of interest rate futures
-- Interest Rate Futures contracts as against the securities
-- Interest Rate Futures Risk management Methods and Procedures
-- Treasury Bond and Note for Interest Rate Futures Contracts

-- Interest Rate Futures - Underlying/deliverable instrument

-- Interest Rate Futures Basket delivery
-- Interest Rate Futures Conversion factors
-- Cheapest to deliver Interest Rate Futures and
-- Interest Rate Futures with regard to the implied repo rate
-- Implied put option for Interest Rate Futures
-- Trading in Interest Rate Futures
-- Risk management methods & applications for Interest Rate Futures
-- Interest Rate Futures and the Eurodollar Futures

-- Underlying instrument - Eurodollar deposit

-- Libor (London Inter Bank Offered Rate) - its affect on Interest Rate Futures
-- Methods of Interest Rate Futures Price Valuations - Index or discount pricing method, point values method and basis points method
-- Cash settlement only contracts
-- Cash market basis of final settlement price
-- Swaps for Interest Rate Futures


-- Terminology and definitions
-- Swap contract features for Interest Rate Futures
-- Interest rate swap contract cash flows and risks
-- Other types of interest rate swaps - amortizing, accreting and basis swaps
-- Risk management applications
-- Swaptions and Interest Rate Futures

CurrencyShares Euro Trust FXE: Euro USD Forex ETF Product: Review, Analysis & Details

Since the introduction of Euro in the European region, the Euro-USD Forex Exchange rates has been fluctuating widely. However, since the last 2 years or so, Euro has really becoming strong as compared to USD dollar (Forex Rate) and if you go by the recession that had hit primarily the US markets, it has led to Euro becoming more and more stronger.
Moreover, there have been some news items mentioning that some countries (like in Middle-East) are reportedly attempting the get rid of the Dollar Dependence and trying to sell oil contracts in their own respective currencies. All this is leading to a lot of volatility in the USD FOrex Exchagne Rate. CurrencyShares Euro Trust FXE
This fluctuations in forex rates have severly hit the exporters, importers, MNC companies across the globe and now everyone is attempting to look for a Forex Risk Management and Forex Hedging.

Wont it be nice if we can have a product which allows us to make investments in the Euro-USD forex, like a mutual fund or an Exchange Traded Fund (ETF), which is traded on an exchange and enables enough liquidity for investing, trading and hedging purposes for Forex Rates Fluctuations?
In this article, we will talk about such Forex Rate ETF or FOrex Exchange Traded Prodcuts, which offer enough liquidity for investing, trading and hedging purposes for Forex Rates Fluctuations

The CurrencyShares Euro Trust FXE from Rydex Investments is one such good option available to investors who can benefit from investing or trading in the units of this exchagne traded product and achieve the aim of hedging against forex rates fluctuations.

What is CurrencyShares Euro Trust FXE?
CurrencyShares Euro Trust FXE, is an exchange traded product tracking the price of the euro, in USD. Hence, it can be easily used for arbitrage traders or market makers who are betting their money on EUR-USD forex contracts or by traders (exporters/ importers) who want to hedge themselves from the fluctuations in EUR-USD forex prices.

Which Benchmark does the CurrencyShares Euro Trust FXE follow?
The benchmark product followed by CurrencyShares Euro Trust FXE is the WM Reuters Euro Closign Spot rates, which are quoted in USD.

What is the unit for investment in CurrencyShares Euro Trust FXE?
The no. of EUR per share for CurrencyShares Euro Trust FXE is 100.

What are the trading benefits of Currency Shares Euro Trust FXE?
For traders, it allows short selling, which means that traders can also go short on the EUR-USD contracts and benefit from them.
-- Protects against wide currency flcutuations and hence reduces the risk
-- Enables short term trading benefits
-- Allows easy trading in Forex Contracts without an overseas brokerage account
-- Low brokerage and transaction costs
-- CurrencyShares will be backed by the assets of the Trust

What has been the historical performance of CurrencyShares Euro Trust FXE?
This graph below will illustrate how the EUR-USD has been fluctuating for this CurrencyShares Euro Trust FXE product. Also note that there appears to be a perfect correlation of this EUR-USD Forex Product with the EUR-USD forex rates.



Is this product risk free?
Nothing in this world comes for free and the same goes for this product. Check the ups and downs in the graph above for this product. It will tell you that there is no one direction for this product. EUR-USD price fluctuations can go either way.

Fixed Income Securities Market: Introduction, Example, Market Participants & Types of Fixed Income Securities

In this article, we will discuss about Fixed Income Securities Market, The types of Fixed Income Securities, The Market Participants for Fixed Income Securities and how the market for Fixed Income Securities workds? Fixed Income Securities

-- Participants of the Fixed Income Securities: :
? Investors of the Fixed Income Securities: These may be long term or short term investors and may inlcude retail investors (small amount investments) to large investors (million-billion dollar amount investments)

? Issuers of the Fixed Income Securities: The banks, organizations, governments who actually issue new Fixed Income Securities

? Sell-side of the Fixed Income Securities: These are broker dealers who make the markets and fulfill the demands of

? Service Organizations of the Fixed Income Securities:

-- Bond Concepts or Fixed Income Securities Concepts: There are certain concepts on which any product is based, same goes for the financial products. The Fixed Income Securities are based on the concepts of Interest Rates(heavily) and minutely on other factors like inflation, other macro-economic factors, etc.

? Interest Rates

o Conventional Yield Measures

? Ratings

? Term

? Yield Curves

-- Fixed Income Securities : In this section, we cover the basic types and characteristics of the Fixed Income Securities.

? Types & Characteristics of Fixed Income Securities

o Government securities

? Treasury bills

? Notes

? Bonds

? Treasury Inflation Protected Securities (TIPS, I- bonds)

? Agency securities

o Mortgage backed securities

? Agency

? Non-conforming

o Asset backed securities

? CMO

? Cash Flow

o Credit card receivables: Not for individuals, but this is for the banks issuing the credit cards and have an outstanding receivable from the credit card holders.

o Auto loans:

o Receivables:

o State and local government

? General obligation;

? Revenue

o Corporate bonds

? General obligation

? Indentures

-- Trading MarketPlaces:

? Traditional Exchanges

? Over the Counter

? Electronic Markets

? Quotes

-- Risks/Reward:

? Risks

o Default

o Interest Rate

o Inflation

o Liquidity

? Rewards

o Capital Gains

o Interest Income

o Entitlements

? Remedies in the Event of Default

Portfolio Management: Introduction, Types, Risks and Services of Portfolio Management

In this article, we will present the basic overview and ingredients of the concepts, process and tools of portfolio management.  Portfolio Management Every portfolio management task should begin with a well defined aim, and looking at the aim of the portfolio, the investors take a call whether they wish to invest in the portfolio or not. So basically, the aim and objective of a portfolio management scheme is very important.

The discussion will consider how these factors vary across investors for various types of institutional as well as individual investors. Asset allocation decisions and their implications are also important parameters for an investor to decide whether to put his hard earned money into these portfolio schemes or not.

We present a broad level overview of the topics which will be discussed in portfolio management. They include: Portfolio management styles; performance of active versus passive strategies; measuring risk and calculating risk adjusted returns; performance attribution; selection of appropriate benchmarks, etc.

Topics for portfolio management includes the following:
? Introduction to Portfolio Management
o Investment Objective Setting
o Modern Portfolio Theory
o Risk and Return - Definition, Sources and Quantification
o Asset Allocation - Definition, Importance, Tactical versus Strategic

? Fixed Income Portfolio Management
o Active versus Passive Fixed Income Portfolio Management
o Active Portfolio Management Styles
o Indexed Portfolios
o Assessing Performance

? Equity Portfolio Management
o Active versus Passive Equity Portfolio Management
o Active Portfolio Management Styles
o Indexed Portfolios
o Assessing Performance

After going through these topics in detail, a financial consultant, a portfolio manager or anyone should be able to:
? Describe the characteristic features of various portfolio management styles (active, passive, semi-active/passive, indexing, etc.) and implications for security selection and portfolio construction of the different styles
? Discuss basic issues in assessing investment management performance including defining, differentiating and relating to one another: measurement of investment returns, performance assessment, and return attribution
? Identify key elements of MPT (Modern Portfolio Theory) and CAPM (Capital Asset Pricing Model) and recognize how particular aspects of each are used in quantifying risk and assessing returns
? Discuss investor rationale for adopting indexing strategies, including types of indexing (full portfolio replication, enhanced indexing, etc.), impact on expected risk and return as well as fee and expense related issues
? Define commonly used risk measures (standard deviation of return, Beta & duration) and describe their use in quantifying and expressing risk as well as assessing performance

BMO ETF: Bank of Montreal ETF Review, Analysis and Details

The Bank of Montreal has come out with its ETF's or Exchange Traded Funds in the month of February 2009. Though the time is not that long duration to provide an overview and performance monitoring of these ETF's launched by BMO or Bank of Montreal, still these ETFs are worth considering. Given their diversified nature and the broad category of index and sectors which these ETF's are based on, it is surely worth considering to check with these ETF of Bank of Montreal. BMO ETF Bank of Montreal ETF

BMO Canadian Government Bond Index ETF?? ZGB : Primarily, this ETF focuses on the Government Bond issued by the Canada Government. Investors who are looking to benefit from the stability in Canada and hence returns from these Canada Govt Bonds, can opt for this ETF.

BMO Dow Jones Canada Titans 60 Index ETF?? ZCN :
This ETF attempts to replicate the Dow Jones Canada Titans 60 Index. Since this is specific to Canada, it means that the underlying index will have only the top 60 stocks of Canada. A good option for investors to benefit from the top titans of Canadian stock markets.

BMO US Equity Index ETF?? ZUE :
This can be a good hedging option - for individal traders who wish to play arbitrage between US and Canada stocks.

BMO Dow Jones Diamonds Index ETF?? ZDJ :
Dont go by the name Diamonds, as this fund really has nothing to do with Diamonds. It replicates the Dow Jones Industrial Average (CAD hedging) Index.

BMO Short Federal Bond Index ETF?? ZFS :
This fund tracks the performance of the DEX Short Term Federal Bond Index. A safe bet for investor who have faith in the Federal bonds.

BMO Short Provincial Bond Index ETF?? ZPS :
This fund tracks the performance of the DEX Short Term Provincial Bond Index. A good option for investors who prefer bond investments with less risk appetite.

BMO Short Corporate Bond Index ETF?? ZCS :
Tracks the performance of the DEX Short Term Corporate Bond Index. Investors who trust corporate bonds can opt for this ETF investments.

BMO High Yield US Corporate Bond Hedged to CAD Index ETF?? ZHY :


BMO S&P/TSX Equal Weight Banks Index ETF?? ZEB :
Another ETF from BOM, specific to Canadian banks. It offers a diversified and equal weighted investments in various Canadian bank stocks.

BMO S&P/TSX Equal Weight Oil & Gas Index ETF?? ZEO :
This Oild and Gas ETF offers exposure to the diversified set of investments in equal weighted proportion in a portfolio that consists of common shares of Canadian oil and gas companies. A good option for investors looking for investing in Canada based Oil and Gas companies.

BMO Emerging Markets Equity Index ETF?? ZEM :
Tracks the Dow Jones Emerging Markets Total Stock Market Specialty Index.

BMO International Equity Hedged to CAD Index ETF?? ZDM :

BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF?? ZMT :

Indiabulls Power IPO: Review Analysis & Details

The IndiaBulls company, which started its business as a stock brokerage firm and then moved into real estate and other ventures, is now coming out with another IPO. There is a new IPO called Indiabulls Power IPO which is going to hit the primary stock markets on October 12th, 2009.
The Initial Public Offering is the Company in the business of Power and is called Indiabulls Power Limited.
In this article, we will look at the Review, Analysis and Details of the Indiabulls Power IPO and try to do the Review and analysis of Indiabulls Power IPO. Indiabulls Power
Some basic details first about the Indiabulls Power IPO:
What is the issue size of the Indiabulls Power IPO?
The Indiabulls Power issue size is expecting to raise around 1600 to 1800 crore Rupees from the primary stock market, by floating its shares.

How is the share distribution done?
The IPO consists of issuance of around 336 million shares which will be in the open market. Around 50 million share will be in the green shoe option No info is available about the employee quota or reservation of shares for the employees.
The IPO issue of Indiabulls Power would constitute around 17% per cent of the company's post issue paid up capital.

How will the capital raised by Indiabulls Power IPO be used?
The company would use the IPO proceeds for expansion of its business at Nasik & Amravati power projects of Indiabulls Power Limited.

What is the price band of the Indiabulls Power IPO
The price band for shares of Indiabulls Power IPO is 42-45 Rs. per share.

What is the trading symbol & exchange for the Indiabulls Power IPO
No info is available about the trading symbol.

What are the IPO dates for Indiabulls Power IPO
The IPO for Indiabulls Power is going to open on 12 October 2009 and will close on 15th Oct 2009.

What is the business prospect and company profile of Indiabulls Power?
The company has presence in multiple sectors - brokerage and financial services being the primary one. They are also into retail stores management and real estate management.

Who are the underwriters of the Indiabulls Power IPO?
Morgan Stanley India are the BRLM or Book Running LEad Managers of the issue. Karvy are the Registrar. To get the Allotment status of Indiabulls Power IPO visit www.karvy.com/ipoStatus

What are the analysts recommendations for this IPO?
No recommendations from market analysts are available as of now

ICICI Lombard Motor Insurance: Online Renewal: High Cost, Low Value

You all must have seen the recent ad of ICICI Lombard Motor Insurance. This ad has a person mentioning the following: "Raat ke 11 baje the, motor insurance khatam ho raha tha. I got it online at ICICILombard.com". Basically meaning that "It was 11 PM at night, my car insurance coverage was getting over, so I just logged onto ICICILombard.com and got it at an instant.

This ad from ICICI Lombard Insurance, sometimes comes in solo, or clubbed with other ads like that of Travel insurance, etc.

So I thought of giving it a go. Had bought a vehicle last year and the vehicle seller had not offered me any choice of selecting the insurer for my vehicle hence I was forced with this ICICILombard Policy.
Now, it was nearing 1 year, so I decided to renew it online. See what happened.

When I tried to generate a quote for a new insurance (not a renewal) for my vehicle on ICICILombard.com, I was quoted a price of around 930 Rs.

However, when I asked for a quote for renewing my existing policy for the next year, it was higher 1076 Rs. Unfortunately, I generated the new insurance policy quote after I had opted for renewal, so lost 140 Rs. in the process.
ICICI Lombard Motor Insurance
That is the cost of getting everything at the click of the button from your office/home.

What is more interesting is the Insurance Declared Value - there has been a significant reduction in the IDV value of my vehicle (more than 13% reduction), but the premium then charged for the renewal was increased (almost 15% increase - from 930 to 1076 Rs.)

Now I agree that IDV can go lower as time passes by, but why to charge heavily (as high as 15% extra), just because a customer is renewing his insurance.

Is this the way the loyal customers are to be treated???

Then, as another sample check, I tried generating a quote for my vehicle on Bajaj Allianz Insurance Site. For the same vehicle, I got a price quote of the same 930 Rs. from Bajaj Allianz. Had I took my vehicle to a nearby Bajaj Allianz Insurance shop (just 1 Km from my place), I would have saved almost 150 Rs. (that's more almost 15% savings). Even if I had taken my vehicle to ICICI Lombard shop (around 3 Kms), and instead of renewing my exisitng policy, had I opted for a new one, I would have again saved the same amount of money from the same insurer.

What I cannot understand is why this kind of malpractices exists. I agree that a company needs to invest in infrastructure and operational costs for IT services, but is it justified to charge extra from a customer who is renewing the same policy, that to to the tune of 15% high premium??

I managed to identify this after paying the price. Do ICICILombard expects a customer to remain loyal to them with such practices??

Next time, I would better take my vehicle to a government insurance company office and get it insured. If I may not like to go for government insurance companies, then I will take it to the same ICICILombard counter, and instead of renewing the policy, I will buy a fresh one.

Oil Sands Funds & ETF: Claymore Oil Sands Sector ETF: TSX:CLO

In this article, we will talk about the emerging investment trends in Oil Sands. We will see what Oil Sands is, what is the emerging trend for investments in Oil Sands, What are the available investment options for Oil Sands Mutual Funds, Oil Sands Funds, Oil Sands ETF, Exchange Traded Funds and so on.

What are Oil Sands?
As per Wiki, Oil sands, also called as extra heavy oil or tar sands, is actually a kind of bitumen layered deposit.
These layered deposits made of mix of sand, clay, water and oild & petroleum. They are not common in all parts of the world, but are heavily concentrated in Canada and Venezuela.

What is making as Oil Sands so interesting for investments and oil production?
The high volatility of Crude oil, and its prices have led some people look at alternate sources of energy as covered in the article Alternative Energy Mutual Funds. Now, these Oil Sands are now being considered as the part of the overall world oil reserve.

Which countries of the world have large deposits of Oil Sands Reserves?
Primarily, any country having large sand deposits can have Oil Sands Reserves. But it is Canada and Venezuela which lead the pack. Though USA, Russia and some middle eastern countries also have high deposits of Oil Sands.

What are the investment options available for Oil Sands InvestmentS?
The world of investments always have something or the other for every sector for investments. There are multiple products available in the market for any common investors like you and me, to take benefit of investments in that sector.

Just because oil sands are found only in few specific countries like Canada, it does not mean that an investor sitting in England cannot benefit from that. This investor can as well invest in internatioal Oil Sands ETF or Oil Sands Mutual Funds and reap the benefits if the sector gives good returns.

Are there any indices available for tracking the Oil Sands investments?
Yes, The Sustainable Oil Sands Sector Index (TM) is one such index which can be used as a benchamark to track the investments in Oild Sands Sector.
The Sustainable Oil Sands Sector IndexTM was designed to give investors the maximum exposure to one of the fastest growing industries in the Canadian energy sector. The index is restricted to companies that are highly focused on oil sands production and are expected to increase their oil sands production in the next ten years. There are 17 securities in this index and it has an approx. market cap of 18.1 billion USD.

Any Oil Sands ETF or Oil Sands Mutual Funds which are based upon this index?
Yes. Claymore Oil Sands Sector ETF is the fund which tracks the performance of the Sustainable Oil Sands Sector Index, less of fund expenses.
Ticker Symbols Common Units TSX: CLO
Advisor Class Units TSX: CLO.A
Initial Unit Price $20.00
Income Distribution Primarily Canadian dividend income
Distribution Frequency Quarterly
CUSIP Symbols 183832104
Advisor Class Units 183832203
Management Fee 0.60%

Euro Multivision IPO: Review Analysis & Details

There is a new IPO called Euro Multivision IPO which is going to hit the primary stock markets on September 22nd, 2009.
One such company which is willing to come out with an IPO or Initial Public Offering is the Company in the business of Compact disc manufacturing and is called Euro Multivision Services Limited.
In this article, we will look at the Review, Analysis and fine Details of the Euro Multivision IPO and try to do the Review and analysis of Euro Multivision IPO. Euro Multivision
Some basic details first about the Euro Multivision IPO:
What is the issue size of the Euro Multivision IPO?
The Euro Multivision issue size is expecting to raise around 66 Crore Rupees from the primary stock market, by floating its shares.

How is the share distribution done?
The IPO consists of issuance of around 88 lakh equity shares. There will be an employee quota or reservation of around 2 lakh (200,000 shares) for the employees.
The IPO issue of Euro Multivision would constitute 36.97 per cent of the company's post issue paid up capital.

How will the capital raised by Euro Multivision IPO be used?
The company would use the IPO proceeds for expansion of its business into a whole new segment. They are planning to enter into the solar energy business. Hence, capital and resources are required for the company's investment into the photovoltaic solar cell manufacturing unit in a SEZ at Bhachau in Gujarat's Kutch district. This is where the IPO proceeds will be used. The plant is expected to have a capacity of 40 MW per year and is being built at a cost of around 178.03 crore Rs.

What is the price band of the Euro Multivision IPO
The price band for shares of Euro Multivision IPO is 70-75 Rs. per share.

What is the trading symbol & exchange for the Euro Multivision IPO
No info is available about the trading symbol.

What are the IPO dates for Euro Multivision IPO
The IPO for Euro Multivision is going to open on 22 September 2009 and will close on 24th Sep 2009.

Who are the underwriters of the Euro Multivision IPO?
Anand Rathi Advisors

What are the analysts recommendations for this IPO?
No recommendations from market analysts are available as of now. Though the company has its own ways to speak up for the IPO. "This new field of business is synergistic with company's existing businesses and we will leverage on our core competencies in the areas of precision high technology, mass manufacturing, and project management," Euro Multivision MD Hitesh Shah said

Thinksoft Global IPO: Review Analysis & Details

There is a new IPO called Thinksoft Global IPO which is going to hit the primary stock markets on September 22nd, 2009.
One such company which is willing to come out with an IPO or Initial Public Offering is the Company in the business of IT services specific to BFSI Sector testing and is called Thinksoft Global Services Limited.
In this article, we will look at the Review, Analysis and fine Details of the Thinksoft Global IPO and try to do the Review and analysis of Thinksoft Global IPO. Thinksoft Global
Some basic details first about the Thinksoft Global IPO:
What is the issue size of the Thinksoft Global IPO?
The Thinksoft Global issue size is not known as of now, it will be a book building process at the availabel price band and final price as determined.

How is the share distribution done?
The IPO consists of a fresh issuance of around 13,50,000 new equity shares. There is also an Offer for Sale of around 22,96,000 shares by Euro Indo Investments and by Mr. Vinod Ganjoor.
The IPO issue of Thinksoft Global would constitute around 36.27% of the post issue paid-up capital of the Thinksoft Global company.

How will the capital raised by Thinksoft Global IPO be used?
The company would use the IPO proceeds for expansion of its infrastructure. There is a plan to increase infra facilities at Madras Export Processing Zone in Chennai which is expected to have a capacity of around 400 seats. The ball park figure for this expansion plan is around Rs. 16.09 crores, which will be sourced from the IPO.

What is the price band of the Thinksoft Global IPO
The price band for shares of Thinksoft Global IPO is 120-130 Rs. per share.

What is the trading symbol & exchange for the Thinksoft Global IPO
No info is available about the trading symbol.

What are the IPO dates for Thinksoft Global IPO
The IPO for Thinksoft Global is going to open on 22 September 2009 and will close on 24th Sep 2009.

What is the business prospect and company profile of Thinksoft Global?
The companu has global presence, either directly or through its subsidiaries. They are in big cities like London, New York, Dubai, Singapore, Frankfurt, Brussels, Hong Kong, Bangalore and Chennai.
For the year ended March 31, 2009, Thinksoft’s profit after tax stood at Rs.14.49 crores on gross revenue of Rs. 95.66 crores. Revenue has grown at CAGR of 43.5% over the past four years. The company focuses on offshore business model for providing testing services to the Banking and Financial sector.

Who are the underwriters of the Thinksoft Global IPO?
No info about that.

What are the analysts recommendations for this IPO?
The recommendations are positive, given the future prospects, expansion plans and healthy order book of the company

Pipavav IPO: Review Analysis & Details

There is a new IPO called Pipavav IPO which is going to hit the primary stock markets next week,
One such company which is willing to come out with an IPO or Initial Public Offering is the Company in the business of ships and docks called Pipavav.
In this article, we will look at the Review, Analysis and fine Details of the Pipavav IPO and try to do the Review and analysis of Pipavav IPO. Pipavav IPO
Some basic details first about the Pipavav IPO:
What is the issue size of the Pipavav IPO?
The Pipavav issue size is not known as of now.

How is the share distribution done?
Of the total offering on cards with the IPO, there is a reservation of 6 lakh equity shares for its employees.
Out of the net issue on offer, around 60 per cent has been put up for Qualified Institutional Investors (QIP), 10 per cent for non-institutional investors and the remaining 30 per cent for retail investors.

How will the capital raised by Pipavav IPO be used?
The company would use the IPO proceeds for construction of facilities for shipbuilding, ship repair and offshore business. They are building a shipyard in Gujarat at a cost of about Rs 3,000 crore, of which it has already spent Rs 2,086 crore.

What is the price band of the Pipavav IPO
The price band for shares of Pipavav IPO is 55-60 Rs. per share.

What is the trading symbol & exchange for the Pipavav IPO
No info is available about the trading symbol.

What are the IPO dates for Pipavav IPO
The IPO for Pipavav is going to open on 16th September 2009.

What is the business prospect and company profile of Pipavav?
Pipavav is having big plans of expansion. They are thinkig of going beyond the defence and offshore vessel manufacturing to building equipments for thermal and nuclear power plants
Their order book is reported to be worth $930 million USD.

Who are the underwriters of the Pipavav IPO?
No info about that.

What are the analysts recommendations for this IPO?
The recommendations are positive, given the future prospects, expansion plans and healthy order book of the company.

Alico IPO: Review Analysis & Details

IPO's are now flocking the markets across the globe - is it the sign of economic revival? Despite the high voltility in the stock markets, there are still a long list of companies willing to come to the stock market with their shares listing.
One such company which is willing to come out with an IPO or Initial Public Offering is the life insurance unit American Life Insurance Co called Alico.
In this article, we will look at the Review, Analysis and fine Details of the Alico IPO and try to do the Review and analysis of Alico IPO. Alico IPO
Some basic details first, these are based upon the stories making round on news sites, actual figures may vary:
What is the issue size of the Alico IPO?
The Alico issue size is going to be for around USD 5 billion.

How is the share distribution done?
No info about that.

How will the capital raised by Alico IPO be used?
No info about that.

What is the price band of the Alico IPO
The price band for shares of Alico IPO is not yet decided.

What is the trading symbol & exchange for the Alico IPO
No info is available about the trading symbol.

What are the IPO dates for Alico IPO
The IPO for Alico is expected to come after AIA offering.

What is the business prospect and company profile of Alico?
Alico, founded in 1921, is in the business of life insurance and retirement products. It has a large customers base of 19 million through a distribution network that includes 40,000 agents. It operates in 54 countries but generates more than half of its revenue in Japan.

Who are the underwriters of the Alico IPO?
The book running lead managers and bankers are not yet decided. But there are big names in the list of front runners. It includes - UBS, Deutsche, CSFB, Goldman, Citigroup and Morgan Stanley. It is learnt that Morgan Stanley may get a lead role.

What are the analysts recommendations for this IPO?
The company profile look good. Alico IPO may be the biggest IPO's in recent times. Just that AIG is interviewing the various banks for the IPO and many top rung bank are attempting to get to the IPO, indicates the money involved. We expect a good listing for this IPO

Avesthagen IPO: Review Analysis & Details

IPO's are now flocking the markets. Despite the no-so-good performance of Adani Power IPO and NHPC IPO, where investors could not pocket handsome returns, there are still a long list of companies willing to come to the stock market with their shares listing.
One such company which is willing to come out with an IPO or Initial Public Offering is the Bio Technlogy company called Avesthagen.
In this article, we will look at the review, analysis and fine details of the Avesthagen IPO and try to do the Review and analysis of Avesthagen IPO. Avesthagen IPO
Some basic details first:
What is the issue size of the Avesthagen IPO?
The Avesthagen issue size is going to be for around 850-950 Crore Rupees.

How is the share distribution done?
The promoter Dr. Patell will continue to hold 32% of the company shares. There are 10 other investors who hold 28% shares. The investors include big names like Fidelity, ICICI Ventures and New York Life Investment Management India Fund.

How will the capital raised by Avesthagen IPO be used?
The use of capital will be for commercialization of the 40 products that the company is currently developing.

What is the price band of the Avesthagen IPO
The price band for shares of Avesthagen IPO is not yet decided.

What is the trading symbol & exchange for the Avesthagen IPO
No info is available about the trading symbol.

What are the IPO dates for Avesthagen IPO
The IPO for Avesthagen is expected to come out sometimes in first half of 2010, there are no concrete details available about the IPO dates.

Who are the underwriters of the Avesthagen IPO?
The book running lead managers and bankers are not yet decided.

What are the analysts recommendations for this IPO?
The company profile look good. Avesthagen expects to reach a turnover of Rs 100 crore from research and sale of nutrition products, among others. The company holds 560 patents and expects to license some of its plant-derived nutritional and therapeutic molecules and ingredients

Uttar Pradesh UP Sixth Pay Commission to give Salary Hike

The latest news on Sixth Pay Commission is for the Uttar Pradesh UP State Employees, who are going to benefit from the recommendations of the Sixth Pay Commission. These state government employees from Uttar Pradesh or UP will be getting the benefits of the Sixth pay Commission Panel Recommendations from 1st January 2006. Sixth Pay Commission Pension

On September 5th, PTI reported that the UP government has decided to go for Pay Revision or Salary Revision as per the recommendations of the Sixth pay Commission. What this means is that the benefits will now be available to the UP state government employees.

How many UP state government employees will benefit?
It is learnt that around 98,0000 state government employees will benefit from the pay hike or salary revision.

Any exceptions to the employees?
Yes. PTI reports that employees of energy sector undertakings in state may not get the benfits of Sixth Pay Commission.

How much extra money will be required by the state and where will it come from?
Around 305 crore Rs. are required per year for this salary hike and it is expected to be sourced from the enterprises and corporations. There will be no assistance from the government side.

However, the benefits of revised pay scale and other benefits will be subject to the economic capability of corporations and certain conditions, as reported by a government spokesperson.

The government also decided to relax rules regarding payment of dearness allowance to the staff of enterprises and corporations and merge 50 per cent of the DA with the salary.
All thanks to the Sixth Pay commission recommendations and their implementations

Portfolio Insurance: Definition, Example, & Use of Portfolio Insurance

Today, in this article, we will talk about Portfolio Insurance, how Portfolio Insurance is achieved and configured?

What is Portfolio Insurance?
Portfolio Insurance is the term assigned to the practise of limiting the losses or even eliminating the losses, for a position which you take in stocks or bonds or in any other set of investments. It is a method of hedging a portfolio of stocks against the market risk by short selling stock index futures.
How is Portfolio Insurance achieved?Portfolio Insurance
Portfolio Insurance is achieved by using Financial Derivatives or Options. So Basically, you buy a stock, as long as it is above its buy price, you are in profit. The risk or loss comes when the price of the stock goes below your buy price. Hence, the practise of eliminating this loss is known as Portfolio Insurance. Some financial experts also claim that risk can never be eliminated from a Portfolio, only its effects can be mitigated. Hence, the practise of mitigating the risks from the Portfolio is known as Portfolio Insurance.

What is the commonly believed rationale behind Portfolio Insurance?
Portfolio Insurance: The Rationale behind Portfolio Insurance
Let's say you have the following Portfolio:
.. 1000 shares stocks A, 1000 shares stock B
.. Volatility of each stock 30%
.. Current stocks price of A and B is $50
.. T-Bill rate is 8%

..Scenario:
..You can Expect that FED will tighten the rates in next three months
..You have a constraint that your Portfolio value should not go down below $90,000

.. What's the solution?
.. Go for Portfolio Insurance, by structuring options products in your portfolio

What will be the cost of this portfolio insurance?
Let's say: Cost of 3m put option which has a $45 strike price is $0.79
..So we Need 2,000 options
..Hence the total cost of this portfolio insurance comes to $0.79 times 2000 = $1,586.00 USD

Infrastructure Fund: Claymore Global Infrastructure ETF (TSX: CIF): Review Analysis and Details

We all know the benefits of ETF's or Exchange Traded Funds, and if you can find a good ETF on the Infrastructure Sector, then you can benefit from the growth of Infrastructure in a particular country. Infrastructure opens up loads and loads of horizons for an investor to invest his money. Infrastructure Sector by making an Investment in Infrastructure ETF is one of the easily available option to benefit from Infrastructure investment. In this article, we will focus on one of the Infrastructure Exchange Traded Funds.Infrastructure Fund

What is the Claymore Global Infrastructure ETF?
Claymore Global Infrastructure ETF is a kind of Exchange Traded fund which focuses on the Infrastructure Sector. This fund is aiming to replicate the performance of the underlying Infrastructure Index called the MFC Global Infrastructure Index. The investment by the Claymore Global Infrastructure ETF Fund will be to invest the investors money into Constituent Securities of the Index.

MFC employs a proprietary quantitative multi-factor bottom-up selection process to select and weight the top companies involved in the infrastructure sector generally within the following industry segments:
The option for investments are huge - The list includes:
• Airport Services
• Highways & Railtracks
• Multi-Utilities
• Marine Ports & Services
• Gas Utilities
• Oil & Gas Storage & Transportation
• Construction & Engineering
• Electric Utilities
• Heavy Electrical Equipment
• Water Utilities

and basically everything that can be categorized as infrastructure.


What is the underlying index for Claymore Global Infrastructure ETF?
The Claymore Global Infrastructure ETF will track the underlying index called the MFC Global Infrastructure Index.
This Index has the following characteristics:

Number of Securities 60
Weighted Average Market Capitalization ($Billion) $13.95
Weighted Average Price/Earnings 9.5 times
Weighted Average Price/Book 1.6 times
Dividend Yield 3.93%

Fund Data for Claymore Global Infrastructure ETF:
Ticker Symbols TSX: CIF
Advisor Class Units TSX: CIF.A
Initial Unit Price $20.00
Income Distribution Canadian & Foreign Dividend Income
Distribution Frequency Quarterly
CUSIP Symbols Common Units 18383B112
Advisor Class Units 18383B104
Management Fee 0.65%

Recent performance of Real Estate Funds Index:
Historical Performance of Infrastructure Funds
What are the benefits of investing in a Real Estate ETF?
There are many benefits of investing in a Real Estate ETF like the Claymore Global Infrastructure ETF:

- You can get exposure to Infrastructure sector with limited capital without actually buying properties worth millions
- You can stay in Canada, but can benefit from the price rise in US Infrastructure if you buy a Infrastructure Fund which has good exposure to US Infrastructure
- You can also opt for a global fund like Claymore Global Infrastructure ETF, and benefit from overseas property market exposure.
- You dont have to get into the hassles of taking a loan from benefitting from Infrastructure sector. You can bet with small amount of money also

Disclaimer

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The Website's news, commentary, analysis, opinions, advice and recommendations are sourced from various sources like the internet, print media, advertisements, etc. Some articles represent the personal and subjective views of the Editor, and are subject to change at any time without notice. The logos and images displayed on this site may not correspond to the original logos of the products and may not link to the respective official sites. In case you believe the content on "Finance Trading Times " sites are violating any copyrights, please contact us at contactus (AT) finance-trading-times.com and we will be happy to listen & work with your issue.
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Privacy Policy

Privacy Policy for Finance Trading Times
If you require any more information or have any questions about our privacy policy, please feel free to contact us by email at contactus(AT) finance-trading-times.com

At this site (henceforth referred as "Finance Trading Times "), the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by "Finance Trading Times " and how it is used.

"Finance Trading Times " is hosted on blogger and uses analytics tools like Google Analytics and Feedjit Live. Though the owners of "Finance Trading Times " do not directly store or use any log files, but since the site is hosted on blogger, there may be some log files being used by blogger.
The information inside the log files may include internet protocol ( IP ) addresses, type of browser, Internet Service Provider ( ISP ), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user’s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.

Cookies and Web Beacons: "Finance Trading Times " does not use cookies.

DoubleClick DART Cookie:.:: Google, as a third party vendor, uses cookies to serve ads on your site..:: Google's use of the DART cookie enables it to serve ads to your users based on their visit to your sites and other sites on the Internet. .:: Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at the following URLs - http://www.google.com/privacy_ads.html &
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Some of our advertising partners may use cookies and web beacons on our site.

Our advertising partners include .......
.:: Google Adsense

.:: Adify

These third-party ad servers or ad networks use technology to the advertisements and links that appear on "Finance Trading Times " send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.

"Finance Trading Times " has no access to or control over these cookies that are used by third-party advertisers.
The advertisers may also use "Interest Based Advertising" - the details of which can be found on one of the URL's mentioned above.
You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. "Finance Trading Times "'s privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.
If you wish to disable cookies, you may do so through your individual browser options. More detailed information about cookie management with specific web browsers can be found at the browsers' respective websites.

Copyright Policy and Fair Use Guide

Copyright Policy and Fair Use Guide of Finance Trading Times:

Here, we provide copyright information and usage guide for everyone on how the posts, articles, images & other contents of our sites http://www.finance-trading-times.com & http://invest-n-trade.blogspot.com can be used. Henceforth, these sites are referred as Finance Trading Times

If you are interested in linking, quoting, or reprinting articles from Finance Trading Times in whole or in part, please do read our copyright policy

* If you want to put a link from your site to Finance Trading Times: You are welcome to use only SHORT quotes from Finance Trading Times in your website or blog as long as proper credit is given. But please quote only SHORT excerpts - up to a maximum of 5 sentences - from this site when you make the link. Copying of full article is STRICTLY PROHIBITED even if you provide a link to Finance Trading Times . You MUST credit Finance Trading Times when you quote. Always provide a hyperlink (full URL) to the article where the quote is from. Don’t hyperlink just to the homepage. Copy quoted material exactly, enclose it in quotations marks, and mention Finance Trading Times (with full article URL) immediately before or after the quote. For Print media: you must print the full Internet address of the post.

* If you want to reprint our article(s) on your web site, weblog or in your publication
: Please contact us at contactus(AT) finance-trading-times.com with your request.
Articles from Finance Trading Times can be reprinted only after permission. In most cases, we would expect to be paid for this. You MUST NOT republish an entire post without an approval.

Copyright Policy and Fair Use Guide We take plagiarism very seriously. If we discover a website / blog republishing our RSS feeds or website content illegally, we will file a formal complaint with their advertising partners (like Google Adsense) and the DMCA department of their web hosting company.

Copyright Information:
© Finance-Trading-Times.com
Please see Our Copy Right Policy. All the articles, posts and other materials on this website/blog are copyrighted to the author of this site. The content should NOT to be reproduced on any other website or through other medium, without the author's permission. Contact: contactus(AT)finance-trading-times.com

DISCLAIMER: Before using this site, you agree to the Disclaimer. For Any questions or comments, please mail contactus(AT)finance-trading-times.com.

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