Mumbai, Jan 15 (PTI) DSP BlackRock Investment Managers has launch a new arbitrage fund, which is an open-ended equity scheme investing in arbitrage opportunities.

The DSP BlackRock Arbitrage Fund aims to generate income through arbitrage opportunities between cash and derivative markets and arbitrage opportunities within the derivative markets, the fund house said in a statement today.

The fund opens today and closes January 22.

The scheme is targeted at investors with low to medium risk appetite and carries no equity market risks due to its fully hedged equity exposure.

***********

Tata AMC to appoint Prathit Bhobe as CEO

Tata Asset Management has said it will be appointing Prathit Bhobe as its new CEO and managing director.

Bhobe is currently senior general manager at ICICI Bank and heads the retail liabilities product, wealth management and private banking businesses, a release said today.

His responsibilities will include product management for savings account, wealth management, private banking, mutual funds and insurance.

“The asset management business is seeing growth and we are confident that Bhobe’s experience will help us build the next phase of growth,” Tata Sons group CFO and director Saurabh Agrawal said.

***********

AU Small Finance reenters housing segment AU Small Finance Bank has reentered the housing finance segment and will be targeting both salaried and self- employed customers. The customers can avail loans upto maximum of Rs 1 crore.

The company will also offer loans under government’s affordable housing and subsidy schemes like PM housing for all scheme. The bank has currently launched a pilot for this product in Jaipur, Bikaner and Udaipur, and will be soon expanding across the 11 states in a phase manner.

***********

Gera Developments launches new project in Goa Realty player Gera Developments has launched their child-centric homes project in Goa.

“We have tied up with academies run by footballer Bhaichung Bhutia, tennis player Mahesh Bhupati, dance legend Shiamak Davar and the Michael Phelps Swimming Academy for providing professional coaching to the children staying in this property called Rivers of Joy,” the company said today.

***********

IndiGrid Q3 revenue at Rs 126 crore

India Grid Trust (IndiGrid) today reported a revenue of Rs 126 crore for the December quarter. The InvIT, promoted by Sterlite Power Grid Ventures, recorded net distributable cash flow of Rs 101.3 crore, the firm said in a statement.

The trsut has also approved a distribution per unit of Rs 2.89 per unit for the quarter.

“We have delivered another strong quarter and are on track to comfortably meet the full year distribution guidance.

In line with our growth strategy, we are nearing completion of the acquisitions and also pursuing other opportunities,” IndiGrid said.

Currently, IndiGrid owns 10 independent revenue generating assets, including eight transmission lines of 1,936 ckms and two substations of 6,000 MVA capacity.

***********

ICEX upgrades to hi-tech platform

The Indian Commodity Exchange (ICEX) has migrated to an upgraded technology platform which has advanced surveillance and risk management features at par with global best practices.

The company claimed that they are the first exchange in the country to implement this kind of high-end technology that ensures that in case of any eventuality at the data center, the disaster recovery site takes over automatically without any data loss.

***********

SBI ties up with Transfast Remittance

State Bank said tied up with Transfast Remittance for inward remittance from the US. Transfast is a US-based payment company with a network that covers over 6 billion people across 120 countries.

“It has always been our endeavour to offer value to our customers and effective remittance offering will further cater to the needs of the large number of Indians in the US,” SBI said in a release.

This is published unedited from the PTI feed.