Reliance Gilt Securities Fund has proposed the following changes in the offer document –
- The Long Term and Short Term Gilt Plan have been consolidated to a single portfolio under Retail and Institutional Plan. The benchmark for the scheme would be I-Sec Li-BEX. The fund plans to invest upto 30% of its assets in money market instruments and between 70% to 100% into Gilts.
- The recurring expenses for Retail Plan and Institutional Plan have been increased from 1.25% to 2.05% and 2.00% respectively.
- The minimum investment required under the Retail Plan will be Rs 10,000 and Rs 1 crore for the Institutional Plan. The fund will charge an exit load of 0.80% if redeemed within 1 year under Retail Plan and nil for the Institutional Plan.
- Also, from now on Retail investor would be offered the facilities of SIP, STP and SWP, whereas Institutional investor can only opt for SWP.