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Reliance MF Launches Media & Entertainment Fund

Reliance Mutual Fund has launched the first Media and Entertainment Sector Fund in the country called the Reliance Media & Entertainment Fund. The Initial Offer Period is from 16th-27th September, 2004. The minimum application amount in the scheme is Rs 10, 000 and thereafter investments can be made in multiples of Re 1. There would be an entry load of 2 per cent ( none during the IPO period) but no exit load. The fund would be available for investment under two Plans – a Growth Plan (with a Growth Option and a Bonus Option) and a Dividend Plan (with a Dividend Payout Option and a Dividend Reinvestment Option). The scheme would be benchmarked against the S&P CNX Media and Entertainment Index.

The Reliance Media and Entertainment Fund would seek to harness the opportunity provided by the Indian media and entertainment sector. It would invest in various segments like print, television, radio, cinema, outdoor advertising and also emerging genres such as internet advertising, etc. The fund would allocate 0-100 per cent of its assets in Equity and Equity-related securities (with an average of 80 per cent) and the remainder (on an average 20 per cent) in Money Market Instruments and Debt securities with an average maturity of 5-10 years.

Though the sector is in a nascent stage, the AMC believes that there is a huge growth potential in these small and mid-cap companies, and this is exactly what it will seek to harness