Reliance Capital Mutual fund has added a short-term plan: Reliance Short Term Fund, to its current portfolio of seven funds. This scheme is targeted at investors with short-term surpluses. The scheme is initially open for subscription from December 9, 2002 to December 17, 2002.
The scheme would invest in short-term debt and money market instruments. It would have an expense ratio restricted to a maximum of 0.65 per cent. And like all other schemes in this category, Reliance Short term Fund also does not have an entry and exit load. The fund offers Growth, Dividend and Bonus Plan. The minimum investment amount is Rs.1 lakh and in multiples of Rs. 1. The initial issue expenses would be borne by the AMC.
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