Reliance Mutual Fund has made changes in the investment features across its two equity and three-debt funds namely- Reliance Vision (RVF), Reliance Growth (RGF), Reliance Monthly Income (RMIP), Reliance Liquid Treasury Plan (RLF), and Reliance Income (RIF). The same comes in effect from July 23, 2001.
The minimum investment in the RMIP-quarterly option has been reduced from Rs 25,000 to Rs 10,000. In Reliance Income, the minimum investment amount has been raised from Rs 2000 to Rs 5000 in the annual, half-yearly and growth options whereas the same has been increased to Rs 10,000 and Rs 25,000 in quarterly and monthly options.
The investors in all the schemes will be required to maintain a minimum balance equivalent to the minimum investment amount in the respective schemes. Further, the minimum withdrawal limit of 1000 units stands removed and unitholders can redeem up to any limit. The investors can opt for a monthly or quarterly option in the recurring investment (RIP) and regular withdrawal plan (RWP) across all the schemes.
All purchase and redemption applications received in the Reliance Vision Fund will be subject to a cut-off time of 2 p.m. Similarly, investments in Reliance Treasury plan will be subject to a cut-off time of 10.30 A.M.