Reliance Small Cap Fund has collected around Rs 500 crore during its NFO (new fund offer) subscription period, a senior executive from Reliance Mutual Fund told Value Research on Tuesday.
The fund was open for subscription from August 26, 2010 toSeptember 10, 2010. Reliance Small Cap Fund is an open-ended equity scheme. The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of small cap companies.
The scheme will invest 65-100 per cent in equity and equity related securities of small cap companies including derivatives. Up to 35 per cent in debt and money market securities (including investments in securitised debt up to 30 per cent).
The fund will be benchmarked to BSE Small Cap Index and managed by Sunil Singhania.
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