Reliance Mutual Fund has launched an an open-ended gilt scheme called Reliance Gilt Securities Fund. The scheme is initially open for subscription from June 27 to July 04, 2003. The fund offers two plans Long-term and Short-term Gilt Plan. While Long-term plan will invest 70-100 % in gilts, the Short-term Plan will invest 65-100% in gilts. The minimum subscription for both the plans is pegged at Rs. 1 lakh and in multiples of Re. 1.
The scheme will charge an exit load of 0.25 per cent for investments upto Rs 10 lakhs redeemed within 3 months and 0.10 per for investments above Rs 10 lakhs redeemed within 7 days. The estimated recurring expense for both the plans is 0.80 per cent
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