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Tuesday, October 14, 2014

Reliance Equity Savings Fund files offer document with Sebi

An Open Ended Equity Scheme  

Reliance Mutual Fund has filed offer document with Sebi to launch Reliance Equity Savings Fund, an open ended equity scheme. The New Fund Offer price is Rs 10 per unit. 

Investment objective: The primary investment objective of this fund is to generate income and capital appreciation by investing in arbitrage opportunities & pure equity investments along with investments in debt securities & money market instruments. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved. 

Plans/ option(s): Growth, bonus and dividend (dividend payout option, dividend re-investment option, monthly dividend payout option, monthly dividend reinvestment option, quarterly dividend payout option, and quarterly dividend reinvestment option) options under both growth plan and direct plan. 

Benchmark: 40% of Crisil Liquid Fund Index + 30% of Crisil Short Term Bond Fund Index + 30% in CNX Nifty 

Entry Load: NA 

Exit Load:
Exit Load - 

1% if redeemed/switched on or before completion of 1 year from the date of allotment of units. 

Nil if redeemed/switched after completion of 1 year from the date of allotment of units 

Minimum Application Amount: Rs.5,000 and in multiples of Re 1 thereafter. 

Minimum Target Amount: Rs 10 crore 

Asset Allocation: The scheme shall invest 65-90% in equities and equity related instruments (In that: 25-70% in derivatives including index futures, stock futures, index options, & stock options, etc. backed by underlying equity* and 20-40% in unhedged equity position#) and 10-35% in debt and money market instruments** (including investments in securitized debt & margin for derivatives) 

#Denote the directional equity exposure which is not hedged. 

*This denotes only hedged equity positions by investing in arbitrage opportunities in the equity market. The fund manager in the above case can therefore take exposure to equivalent stock/ index futures & create completely covered positions. The margin money deployed on these positions would be included in Money Market category.

 ** including securitized debt up to 30%. 

Fund Managers: Sanjay H. Parekh (Senior Fund Manager – Equity Investments), Anju Chajjer and Jahnvee Shah (Fund Manager – Overseas Investments) 
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