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Reliance Mutual To Launch Another FMP

Reliance Mutual fund has launched another fixed maturity plan: Reliance Fixed Horizon Fund- Plan C (Series I). The new fund offer of the scheme would be open from August 1 to August 18, 2006.

The scheme seeks to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. The fund would benchmark its performance against CRISIL Composite Short Term Bond Fund Index.

The fund offers two plans: institutional and retail. Each one of them offers a dividend and growth option. The minimum investment under the retail plan is Rs 5000, while for the institutional plan it is Rs 5 crore.

The initial issue expenses upto 3 per cent will be charged to the scheme. The recurring annual expenses of the scheme have been estimated as follows: 0.90% for the institutional plan and 1% for the regular plan. The scheme would not charge any entry load but an exit load of 3.00% if redeemed before completion of 13 months, 2.50% if redeemed between 13 months-1 day and before completion of 24 months, 2.00% if redeemed between 24 months-1 day and before completion of 30 months.