Reliance Mutual Fund launches new close ended scheme
17/05/2018 12:13
Reliance Mutual Fund has launched a new close ended income scheme named “Reliance Fixed Horizon Fund XXXVII- Series 7” with maturity period of 191 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 May 16 and will close on May 21. 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 Short Term Bond Fund Index. Amit Tripathi will be the fund manager 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 growth of capital will be met by investing in a diversified portfolio of securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. Hence, the scheme will allocate 0 to 100 per cent of asset in Money Market Instruments.