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Reliance Equity Fund


Reliance Mutual Fund has launched a diversified equity fund. Named as Reliance Equity Fund, the scheme will invest in the stocks of top 100 companies by market capitalisation and of the companies which are available in the derivatives segment. The fund will be initially available for subscription from February 6 to March 7, 2006.

As per the stated asset allocation, the fund would invest 75-100 per cent of its assets in equities, while it can also invest up to 25 per cent of its assets in debt and money market instruments. The fund will be benchmarked against S&P CNX Nifty.

The fund would not charge any entry load on a lump sum investment made during the new fund offer period. In case of SIP, only the first installment made during the NFO period will be load-free while the subsequent installments will attract a load as per the slabs mentioned below. The fund would charge an exit load of 2 per cent on investments of less than Rs 5 crore made during the NFO period (including the first SIP installment), if redeemed within 6 months from the date of allotment. The load on such investments would be 1 per cent if redeemed within one year from the date of allotment.

For investments made subsequent to the new fund offer period (including the subsequent SIP installments) of less than Rs 2 crore, an entry load of 2.25 per cent will be charged. For investments of Rs 2 crore and above but less than Rs 5 crore, the entry load will be Rs 1.25 per cent, while there will not be any entry load for investments of Rs 5 crore and above. No exit load will be charged.