Reliance Mutual Fund launches infra fund
According to company authorities, the newly launched infrastructure fund is an open-ended fund, which aims to generate long-term capital appreciation by investing in equity and equity-related instruments of companies engaged in infrastructure and infrastructure-related sectors like transport, banks and financial institutions, energy, power and oil, metals and minerals, telecom and urban infrastructure. The new fund provides Retail Plan and Institutional Plan. Each plan has two Sub-Options:- Growth Option. Dividend Option. The minimum investment in the fund would be Rs 5000/- and in multiples of Re1/- thereafter for Retail plan and Rs 5,00,00,000/- and in multiples of Re1/- thereafter for Institutional plan. The sources said that 65% assets of the fund will be invested in engineering, cement and power stocks as well as banks, whereas the rest will be pumped in debt and money markets. The sources further added that the scheme would offer investors opportunity to buy or sell units on ongoing basis from not later than 30 days after the close of the new fund offer on June 23, 2009. As per media reports, Reliance Mutual Fund is managing a corpus of over Rs 88,388 crore for over 71-lakh investors as on April 2009.
Read more: "Reliance Mutual Fund launches infra fund | Stock Watch" -http://www.stockwatch.in/reliance-mutual-fund-launches-infra-fund-22185#ixzz0Gnefi0Ii&A
