Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XV – Series 3, a close ended income scheme. The duration of the scheme is 6 months from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens and closes subscription on 13 August 2010.
The primary investment objective of the scheme is to generate regular returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility.
The scheme offers two options viz. growth and dividend payout option.
The scheme will allocate up-to 85% of assets in money market instruments and it would allocate 15% to 100% of assets in Government Securities issued by Central & or State Government & other fixed income/ debt securities including but not limited to Corporate bonds and securitized debt with low to medium risk profile. Debt Securities will also include securitised debt, which may go up to 75% of the portfolio. Average maturity of the securities will be in line with the maturity profile of the scheme.
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 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Liquid Fund Index.
The fund manager of the scheme will be Amit Tripathi.
Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24
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