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Wednesday, June 11, 2014

Reliance MF Launches Reliance Corporate Bond Fund

NFO period is from 06 June to 20 June 2014 

Reliance Mutual Fund has unveiled a new fund named as Reliance Corporate Bond Fund, a open ended income scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 06 June and close on 20 June 2014. 

The investment objective of the scheme is to generate income through investments in a range of debt and money market instruments of various maturities with a view to maximizing income while maintaining the optimum balance of yield, safety and liquidity. The scheme would focus its investments predominantly in corporate bonds of various maturities and across ratings for the purpose of achieving regular income and capital appreciation. 

The scheme offers two plans as follows: 

Growth plan: growth option, bonus option, direct plan-growth option and direct plan-bonus option. 

Dividend plan: dividend payout option, quarterly dividend payout option, dividend reinvestment option, quarterly dividend reinvestment option, direct plan-dividend payout option, direct plan-quarterly dividend payout option, direct plan-dividend reinvestment option and direct plan-quarterly dividend reinvestment option. 

The scheme will allocate 80%-100% of investments in corporate bonds with medium to low risk profile and invest upto 20% of assets in money market instruments including but not limited to CDs, CPs, T-Bills, CBLO, Repo/Reverse Repo (including repo in corporate bonds), liquid schemes and investments in debt instruments in debt instruments issued by central and state governments with low risk profile. 

The minimum application amount is Rs 5,000 and in multiple of Rs 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry load: Not applicable. 

Exit load: 2%, if redeemed with in 12 months from the date of allotment of units. 

1%, if redeemed after 12 months but within 24 months from the date of allotment of units.
0.50%, if redeemed after 24 months but within 30 months from the date of allotment of units and Nil thereafter. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Prashant Pimple and Jahnvee Shah (overseas investments).
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