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Reliance MF launches “Reliance Fixed Horizon Fund - XXII - Series 34”; NFO to close on December 18

14 Dec 2012
Reliance Mutual Fund launched a new close ended income scheme named “Reliance Fixed Horizon Fund - XXII - Series 34” with maturity time of 1103 days from the respective date of allotment.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on December 13 and will close on December 18.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 5000 and in multiple of Rs 1 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend option only.

The performance of the scheme will be benchmarked against Crisil Short Term Bond Fund Index and Amit Tripathi will be the Fund Manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns and growth of capital will be met through investment in a diversified portfolio of central and state government securities and other fixed income/ debt securities. Hence, the scheme will allocate 70 to 100 per cent of asset in debt instruments and government securities and 0 to 30 per cent in money market instruments.

Source: Dion Global    Type: Mutual Fund Review