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Reliance Equity Advantage Fund

At a time when mutual funds are coming out with close-ended equity funds, Reliance Mutual Fund has decided in favour of an open-ended equity diversified fund

Name of fund: Reliance Equity Advantage Fund
Scheme: Open-ended, diversified equity
Objective: Generate capital appreciation, long-term growth and consistent returns by investing in the 50 stocks of S&P CNX Nifty, debt and money market securities.

Asset allocation: Equity: 70% - 100% / Debt and money market securities: 0%-30%

Fund opened: June 12, 2007

Fund closes: July 10, 2007

Face Value: Rs 10

Plans: Retail, Institutional

Options: Growth, Bonus, Dividend Option with re-investment and payout facility

Minimum investment amount: Rs 5,000 (retail), Rs 5 crore (institutional)

Fund Managers: Ashwani Kumar, Shailesh Raj Bhan

Benchmark: S&P CNX Nifty Index