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Reliance MF launches Reliance Banking & PSU Debt Fund

Reliance Mutual Fund launches Reliance Banking & PSU Debt Fund, an open ended income scheme, that is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue.

May 05, 2015 / 07:03 PM IST

Reliance Mutual Fund has launched a new fund as Reliance Banking & PSU Debt Fund, an open ended income scheme. The primary investment objective of the scheme is to generate income over short to medium term horizon through investments in debt and money market instruments of various maturities, consisting predominantly of securities issued by entities such as Banks, Public Sector Undertakings (PSUs) and Public Financial Institutions (PFIs).


This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue.


The new fund offer (NFO) will be open for subscription from May 05 to May 12, 2015. During the new fund offer, the scheme will offer units at Rs 10 per unit.


The scheme offers growth option & bonus option under growth plan and dividend pay out option & reinvestment option, weekly dividend payout option & reinvestment option, monthly dividend payout option & reinvestment option and quarterly dividend payout option & reinvestment option with dividend plan.


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

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The entry and exit load charge will be nil for the scheme.


The scheme will allocate upto 80-100% of its assets in debt & money market instruments issued by banks, public sector undertakings (PSUs) and public financial institutions (PFIs) and invest upto 20%of its assets in debt & money market instruments issued by other entities, gilt securities & state development loans (SDLs) with low to medium risk profile.


The benchmark Index for the scheme is CRISIL Short Term Bond Fund Index.

The fund managers of the scheme are Anju Chajjer, Vivek Sharma (Assistant Fund Manager - Fixed Income) and Jahnvee Shah (Fund Manager - Overseas Investments).

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