Private sector insurer Aviva Life Insurance has launched ‘IndiaBond’, a single premium, endowment plan with guaranteed maturity benefits to provide prosperity and peace of mind to its policyholders.

The plan offers a compounded return of 7% per annum on maturity, depending upon the policy term and the Single Premium amount.

Principal Mutual Fund has launched the ‘Principal Emerging Bluechip Fund’, in the Indian market.

The fund is an open ended equity scheme with primary objective to achieve long-term capital appreciation by investing in equity and equity related instruments of mid cap and small cap companies.

The fund is open for subscription from September 22, 2008 till October 10, 2008

For the purpose of maintaining liquidity or tap market opportunities the fund’s portfolio may also include large cap stocks. The Scheme will offer Growth Option and Dividend Option.

The National Housing Bank (NHB) has agreed to acquire a 12.5 per cent stake in Mahindra group company, Mahindra Rural Housing Finance Ltd (Mahindra Home Finance) for Rs 5.8 crore.

In this regard, a subscription agreement between the two companies has been signed, under which, NHB would participate in the first two years capital raising programmes of Mahindra Home Finance, which is a brand name of Mahindra Rural Housing Finance.