Thursday, June 4, 2009

Reliance Launches Reliance Infrastructure Fund

The Reliance Mutual Fund which is part of the Reliance Anil Dhirubhai Ambani group has launched Reliance Infrastructure Fund.

Fund type – Open ended

Investing details - equity and equity-related instruments

Sectors for investment

Infrastructure and infrastructure-related sectors such as

Transport

banks

financial institutions

energy

power

oil

metals

minerals

telecom

urban infrastructure.

Sandeep Sikka the CEO of Reliance Mutual Fund said that “Undoubtedly, infrastructure is a key priority for India and we also hope a spurt of infrastructure spending in the economy on the back of the stable government and ease of project financing. Moreover, the valuation looks more attractive and the environment being stable with the new government settling in.”

Two Plans being oeffered are

Retail Plan – Minimum Invetmnet Rs. 5000 and in multiples of Re. 1 thereafter

Institutional Plan - Rs. 5 crore and in multiples of Re 1 thereafter

Also there are two types in each plan which are Growth Plan (growth option and bonus option) and Dividend Plan (dividend payout option and dividend reinvestment option).

Asset Allocaton will be 65% in equity and remaining in debt and money markets.

Scheme is open till June 23rd

About reliance Mutual fund

They are the biggest in India and have a corpus of about Rs 88,388 crore for over 71-lakh investors as on April 2009.

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