Reliance MF limits subscription of units in Reliance Small Cap Fund

Reliance Mutual Fund has decided to limit the subscription of units in Reliance Small Cap Fund, an open ended equity scheme, with effect from 1 November 2010 till further notice. The limit on subscription of units has been done with a view that increasing the size of the corpus of the scheme further may prove detrimental to the interest of the existing unit holders. The aforesaid limit will be applicable subject to the following conditions:

1. Fresh/additional subscription/switch-ins will be allowed/accepted for an amount less than or equal to Rs 5 lac per investor (including all folios) at any point in time going forward till further notice.

2. Subscriptions through Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) will be continued with each installment being less than or equal to Rs 5 lac per investor (including all folios) till further notice.

For this purpose, investor identification (per investor) will be done on the basis of Permanent Account Number (PAN) of first holder of the folio or PAN of guardian in case of minor. The aforesaid restriction will not affect SIP or STP registered prior to 1 November 2010 and the unitholders under the dividend reinvestment and payout option.

Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24#