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Reliance Mutual Fund Launches Liquid Fund

Reliance Mutual Fund has launched a liquid fund. Named as Reliance Liquidity Fund, it would be available for initial subscription between June 15 and 16, 2005. Benchmarked against the Crisil Liquid Fund Index, the fund would invest 0-35 per cent of its assets in call money, repo and reverse repo, while 65-100 per cent of the assets will be invested in money market instruments and short term debt instruments, and government securities of less than one year maturity. The minimum application amount is Rs 5 crore and in multiples of Re 1 thereafter. The fund will not charge any entry or exit load.