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Religare Infrastructure Fund to track CNX Infrastructure Index

Religare Mutual Fund has announced that with effect from April 1, 2011, the benchmark index of Religare Infrastructure Fund will be changed from “S&P CNX 500“ to “CNX Infrastructure Index“ to reflect more effectively the investment objective, investment strategy and portfolio mix of the scheme.

The current benchmark index, S&P CNX 500, is a broad based index and has large allocation to sectors which are either non-infrastructure or do not form part of core infrastructure theme. As the portfolio of Religare Infrastructure Fund constitutes of equity and equity related instruments of infrastructure companies; the CNX Infrastructure Index, a dedicated infrastructure index, is an ideal benchmark index to enable comparison of performance of the scheme with infrastructure sector.

Further, the AMC has also announced a change in minimum amount/units for redemption under Religare Tax Plan and Religare AGILE Tax Fund. Under revised provisions, minimum amount/units for redemption under both the schemes will be Rs 500 or 50 units or account balance, whichever is lower.