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Reliance Mutual Launches Pharma Fund

Reliance Mutual has launched another sectoral fund - Reliance Pharma Fund. This is the third sectoral offering from Reliance MF after launching Banking and Power sector schemes.

As the name suggests, the open-ended pharma sector scheme will invest in equity/equity related or fixed income securities of Pharma and other companies to tap into the growth potential of the Indian pharma sector.

The fund's initial public offering will be open from May l0, 2004 to May 26, 2004. The minimum initial investment is Rs 10,000. It would offer Growth, Bonus and Dividend options. During the Initial Offer period the fund would not charge any load but on an ongoing basis it would charge an entry load of 2 per cent. The fund will disclose its portfolio on a quarterly basis.