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Wednesday, September 30, 2009

Reliance MSCI India Growth Exchange Traded Fund files offer document with Sebi

An open-end exchange listed, index linked scheme

Reliance Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Reliance MSCI India Value Exchange Traded Fund, an open-ended exchange listed, index linked scheme tracking MSCI India Growth Index. The new fund offer (NFO) price for the scheme is Rs.10 per unit.

The investment objective of Reliance MSCI India Growth Exchange Traded Fund (RELIANCE MSCI INDIA GROWTH ETF) is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the MSCI India Growth Index.

The scheme would invest 90-100% of asset in securities covered by the MSCI India Growth Index and 0-10% in money market instruments, g-secs, convertible bonds, debentures & other securities including CBLO. Debt securities will also include securitised debt, which may go up to 10% of the portfolio.

Minimum amount for application in the NFO is Rs. 5,000 per application.

The fund aims to collect a minimum subscription of Rs.50 lakh.

The schemes performance would be benchmarked against MSCI India Growth Index.

Krishan Daga will be the fund manager for this scheme.

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