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Thursday, January 22, 2015

Reliance Retirement Fund – Wealth Creation Scheme Floats On

NFO period is from 22 January to 05 February 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Retirement Fund – Wealth Creation Scheme, an open ended notified tax savings cum pension scheme with no assured returns. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 22 January to 05 February 2015. 

The investment objective of the scheme is to provide capital appreciation and consistent income to the investors which will be in line with their retirement goals by investing in a mix of securities comprising of equity, equity related instruments and fixed income securities. 

The scheme offers: 

Growth plan: Growth option & Bonus option 

Dividend plan: Dividend Payout Option 

Direct plan – Growth plan: Growth option & Bonus option 

Direct Plan – Dividend Plan: Dividend Payout Option 

The scheme will allocate 65%-100% of assets in diversified equity & equity related securities with medium to high risk profile and invest upto 35% of assets in debt and money market securities with low to medium risk profile. 

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

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry load: Nil. 

Exit Load: 

i.1% if redeemed/switched out from Reliance Retirement Fund before attainment of 60 years of age. 

ii. Nil in case of Auto SWP/Redemption/Switch out from Reliance Retirement Fund on or after attainment of 60 years of age or after completion of 5 year lock in period, whichever is later. 

iii. Nil in case of switch made from Wealth Creation Scheme to Income Generation Scheme or vice versa, 

iv. Nil in case of Auto Transfer from Wealth Creation Scheme to Income Generation Scheme.
Benchmark Index for the scheme is S&P BSE 100 Index. 

The fund managers of the scheme are Sanjiv Parekh, Anju Chajjer and Jahnvee Shah (Fund manager-overseas investments). 
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