Reliance Mutual Fund is gearing up to launch more innovative products with a focus on retail investors. Reliance Mutual Fund is ready for the mass launch of 'Reliance Any Time Money Card" with the Reliance Liquid Fund as the underlying account.
According to Mr. Himanshu Vyapak, Deputy CEO, Reliance Capital Asset Management (RCAM) said, “The card given to investor have liquidity and feature similar to a debit card. Since such op erations can be undertaken only under RBI's regulation, the card is co-branded with HDFC Bank. The card will help investor earn on idle money every single day and you can earn daily dividend"
Mr. Sundeep Sikka, CEO, RCAM said, “We are trying to replace institutional money with retail money as its more stable in nature. The new product's (Reliance Any Time Money Card) biggest beneficiary will be retail investors and the mutual fund industry.“
As compared to 4% interest earned on the saving bank account, the liquid fund, on average, earns about 8% return.
In India the debt mutual fund scheme have failed to take off so far due to lack of public awareness and most of the money parked in debt schemes are from corporates, banks and high net worth individuals.
According to Mr. Himanshu Vyapak, Deputy CEO, Reliance Capital Asset Management (RCAM) said, “The card given to investor have liquidity and feature similar to a debit card. Since such op erations can be undertaken only under RBI's regulation, the card is co-branded with HDFC Bank. The card will help investor earn on idle money every single day and you can earn daily dividend"
Mr. Sundeep Sikka, CEO, RCAM said, “We are trying to replace institutional money with retail money as its more stable in nature. The new product's (Reliance Any Time Money Card) biggest beneficiary will be retail investors and the mutual fund industry.“
As compared to 4% interest earned on the saving bank account, the liquid fund, on average, earns about 8% return.
In India the debt mutual fund scheme have failed to take off so far due to lack of public awareness and most of the money parked in debt schemes are from corporates, banks and high net worth individuals.
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