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Reliance MF NFO Shines

Its infrastructure NFO drove the numbers to new heights

Reliance Mutual Fund's new fund offering (NFO) called the Reliance Infrastructure Fund has collected Rs 2,350 crore.

This was the 18th equity fund launched by Reliance MF with the  fund house spreading out across 1,000 cities, involving 434 banks and managed to persuade a 4.36 lakh investors to part with their money in the fund’s favour.

This was also among the last NFO to hit the markets with the market regulator, the Securities and Exchange Board of India, transforming the rules of the game by abolishing entry loads.

With investors themselves now empowered to decide the amount they want to pay as commission, and fund advisors threatening to boycott MF products, the exact nature of the various changes will be seen as and when NFOs are unveiled under the new regime. The numbers, as such, may no longer reflect historical trends then.

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Reliance Hops Onto Infra Bandwagon