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Reliance Equity Feels the Heat

Within days of creating history by mopping-up close to Rs 6,000 crore, Reliance Equity Fund has shut its doors for investments of Rs 5 lakh or above.

Within days of creating history by mopping-up close to Rs 6,000 crore, Reliance Equity Fund has shut its doors for investments of Rs 5 lakh or above. In view of the concerns regarding the huge size of the fund, Reliance Mutual Fund has decided that with effect from April 15, 2006, fresh investments of Rs 5 lakh or more, or fresh SIP investments with each installment greater than or equal to Rs 5 lakh, will not be accepted till further notice.

The above-said decision will not affect the existing SIPs, fresh investments of an amount less than Rs 5 lakh, and redemptions from the fund.