Reliance Mutual Fund launches new Close Ended Scheme
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17 Apr 2015
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| Reliance Mutual Fund has launched a new close ended hybrid scheme named “Reliance Dual Advantage Fixed Tenure Fund VII- Plan E” with maturity period of 1102 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on April 15 and will close on April 29. 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 also be nil. This suggests that the investors wishing to exit may do so through the stock exchange mode. 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 and Dividend option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Fund Index. Krishan Daga and Anju Chajjer 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 returns and reduce interest rate volatility will be met by investing in a portfolio of fixed income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure. Hence, the scheme will allocate 65 to 95 per cent of asset in Debt Securities, 0 to 30 per cent of asset in Money Market Instruments and 5 to 20 per cent of asset in Equity and Equity Related Instruments. |
Source: Dion Global Type: Mutual Fund Review
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