Reliance Mutual Fund launches new open ended scheme
13/05/2015 09:42
Reliance Mutual Fund has launched a new open ended equity scheme named “Reliance Equity Savings Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on May 12 and will close on May 26, the scheme will reopen on or before June 08. According to the offer document filed with SEBI, the entry load is not applicable. The exit load will be 1 per cent on or before 1 year and nil after 1 year from the date of allocation. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth, Bonus and Dividend option. The performance of the scheme will be benchmarked against 40 per cent of Crisil Liquid Fund Index, 30 per cent of Crisil Short Term Bond Fund Index and 30 per cent in CNX Nifty. Sanjay H. Parekh, Anju Chajjer and Jahnvee Shah will be the fund managers of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate income and capital appreciation will be met by investing in arbitrage opportunities & pure equity investments along with investments in debt securities & money market instruments. Hence, the scheme will allocate 65 to 90 per cent of assets in Equity and Equity related Instruments, 25 to 70 per cent of assets in Derivatives including index futures, 20 to 40 per cent of assets in Unhedged Equity Position and 10 to 35 per cent of assets in Debt and Money Market Instruments.
13/05/2015 09:42
Reliance Mutual Fund has launched a new open ended equity scheme named “Reliance Equity Savings Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on May 12 and will close on May 26, the scheme will reopen on or before June 08. According to the offer document filed with SEBI, the entry load is not applicable. The exit load will be 1 per cent on or before 1 year and nil after 1 year from the date of allocation. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth, Bonus and Dividend option. The performance of the scheme will be benchmarked against 40 per cent of Crisil Liquid Fund Index, 30 per cent of Crisil Short Term Bond Fund Index and 30 per cent in CNX Nifty. Sanjay H. Parekh, Anju Chajjer and Jahnvee Shah will be the fund managers of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate income and capital appreciation will be met by investing in arbitrage opportunities & pure equity investments along with investments in debt securities & money market instruments. Hence, the scheme will allocate 65 to 90 per cent of assets in Equity and Equity related Instruments, 25 to 70 per cent of assets in Derivatives including index futures, 20 to 40 per cent of assets in Unhedged Equity Position and 10 to 35 per cent of assets in Debt and Money Market Instruments.
