Reliance Mutual Fund plans to launch a new scheme viz, Reliance Cash Plan with effect from December 4, 2001. It is a short-term debt fund having weekly dividend (re-investment) option and growth option. It is a no-load fund requiring a minimum initial investment of Rs 25,000 and in multiples of Re 1 thereafter for both the options. The fund will invest up to 95 per cent of its asset in money market instruments. The cut-off time for purchase will be 10.30 a.m. (10.00 a.m. on Saturday) and it will be 1.00 p.m. for redemption.
