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Tuesday, May 26, 2009

Reliance Infrastructure Fund floats on

An open ended equity scheme

Reliance Mutual Fund has announced new fund offer period (NFO) of Reliance Infrastructure Fund, an open ended equity scheme. The fund is opened for fresh subscription from 25 May 2009 till 23 June 2009. The fund will re-open for continuous sale and purchase on or before 22 July 2009. The offer price is Rs 10 per unit.

Scheme features:

Investment Objective: The primary investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related instruments of companies engaged in infrastructure and infrastructure related sectors and which are incorporated or have their area of primary activity, in India and the secondary objective is to generate consistent returns by investing in debt and money market securities.

Investment Options: The scheme will offer two plans i.e. retail and institutional option. Both plans will offer- growth plan with two plans growth option and bonus option and dividend plan with dividend payout option and dividend reinvestment option.

Asset Allocation: The scheme may invest up to 65%-100% in equities and equity related securities including derivatives engaged in infrastructure sectors and infrastructure related sectors. At least 65% of investment would be made in equity/equity related securities of companies engaged in infrastructure sectors and infrastructure related sectors. The scheme will have investment exposure up to 35% in debt and money market securities including investments in securitised debt. Investment in securitised debt should be up to 30%.

Entry Load:

For retail plan, 2.25% of entry load will be charged for the subscription below Rs 2 crore and 1.25% will be entry load for the subscription of Rs 2 crore & above but below Rs 5 crore and nil for the subscription amount of Rs 5 crore and more.

For institutional plan no entry load will be charged.

Exit Load:

Retail Plan: For subscription of less than Rs 5 crore per purchase transaction, the scheme will charge an exit load of 1.00% if redeemed/ switched on or before completion of 1 year from the date of allotment and nil if redeemed /switched after completion of 1 year from the date of allotment whereas it will not charge exit load for the purchase amount of more than Rs 5 crore.

Institutional plan may not charge exit load.

Minimum Investment Amount: The minimum investment amount under retail plan will be Rs 5,000 and in multiples of Re.1 thereafter and under institutional plan minimum investment amount will be Rs 5 crore and in multiples of Re.1 thereafter.

Minimum Targeted amount: The Fund seeks to collect a minimum subscription amount of Rs 100 crore during NFO.

Benchmark Index: The performance of the scheme will be benchmarked against BSE 100.

Fund Manager: Sunil Singhania will manage the fund.

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