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Tuesday, September 29, 2009

NFO of Religare PSU Equity Fund floats on

NFO period from 29 September -28 October 2009

Religare Mutual Fund has launched new fund offer of Religare PSU Equity Fund, an open-ended equity scheme on 29 September 2009. The fund will be opened for fresh subscription till 28 October 2009. The scheme will be re-opened for continuous sale and repurchase on 27 November 2009. The face value of the new issue is Rs 10 per unit.

Details of the Religare PSU Equity Fund:

The scheme seeks to generate capital appreciation by investing in equity and equity related instruments of companies where the Central / State Government has majority shareholding or management control or has powers to appoint majority of directors.

The scheme offers growth and dividend options. Dividend option will have further dividend reinvestment and payout facilities.

The minimum application amount will be Rs 5000 and in multiples of Re 1 thereafter.

The scheme seeks to collect a minimum corpus of Rs 1 crore during NFO period.

Asset allocation: The scheme will invest 65-100% in equity & equity related instruments of the constituents of BSE PSU Index with high risk profile. The fund will be having investment exposure up to 35% in equity & equity related instruments of PSU companies other than the constituents of the BSE PSU Index with high risk profile. Investment in equity & equity related instruments of non PSU companies will be up to 20% with high risk. The scheme will invest up to 35% in debt & money market instruments with low to medium risk profile.

Non PSU companies are considered as companies which are PSU at the time of investment and which may subsequently become non PSU because of privatization or disinvestment. Investment in securitized debt including pass through certificate (PTC) shall not exceed 20% of the net assets of the Scheme. The scheme will not invest in foreign securitized debt.

Load structure during NFO period and on an ongoing basis: The scheme will not charge entry load.

In respect of each purchase / switch-in of units, an exit load of 1% is payable, if units are redeemed / switched-out on or before 1 year from the date of allotment. In respect of each purchase / switch-in of units, no exit load is payable, if units are redeemed/ switched-out after 1 year from the date of allotment.

Benchmark index: The performance of the scheme is being benchmarked to BSE PSU Index.

Fund manager: Pradeep Kumar is the fund manager for the scheme.

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