Reliance Mutual Fund launches New Close Ended Scheme

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Reliance Mutual Fund has launched a new close ended Debt fund scheme named "Reliance Dual Advantage Fixed Tenure Fund IX- Plan E" with maturity period of 1151 days from the date of allotment.

Reliance Mutual Fund launches New Close Ended Scheme
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on July 18 and will close on August 01.

According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. 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 Composite Bond Fund Index (80per cent) and CNX Nifty (20 per cent). Sanjay H.Parekh and Anju Chhajer 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 return and reduce interest rate volatility will be met by investing a portion of fixed income securities that are the maturing on before the maturity of the Scheme. Hence, the scheme will allocate 70 to 95 per cent of asset in Debt Instruments, 0 to 25 per cent of asset in money market instruments and 5 to 30 per cent of asset in Equities and equity related instruments.

Read more about: reliance mutual fund
Story first published: Wednesday, July 20, 2016, 12:40 [IST]
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