Reliance mutual Fund has launched Reliance Fixed Horizon Fund - X - Series 13 on 20 August 2008. The new issue will close for subscription on 21 August 2008. The NFO price for the fund is Rs 10 per unit.
It is a close-ended income scheme with maturity of 91 days from the date of allotment. The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility.
Reliance Fixed Horizon Fund - X - Series 13 will have retail, institutional and super institutional plan and each plan will have a growth and dividend option. Dividend option further offers dividend payout facility.
The minimum investment amount under retail plan is Rs 5,000 and in multiples of Re 1 thereafter. For institutional plan, the minimum investment amount is Rs 50 lakh and in multiples of Re 1 thereafter. And for the super institutional plan, the minimum investment amount is 1 crore and in multiples of Re 1 thereafter. The scheme has targeted to raise Rs 20 crore during its NFO period.
The scheme will invest 0-85% in money market instruments. It will invest up to 15-100% in Government securities issued by Central and /or State government and other fixed income/ debt securities including but not limited to corporate bonds and securitized debt.
Debt securities will also include securitized debt, which may go up to 100% of the portfolio. The average maturity of the securities will be in line with the maturity profile of the scheme. The total debt derivative exposure would be restricted to 50% of the net assets of the scheme. The fund shall not invest in equity derivatives.
The schemes does not levy entry load, as it is of close-ended nature.
The scheme charges an exit load of 0.30% of applicable NAV if investment is redeemed before the maturity of the scheme. No exit load will be asked for redemptions on maturity.
Mr Amit Tripathi will manage the scheme. The scheme will benchmark its performance through Crisil Liquid Fund Index.
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