Reliance Mutual Fund (MF) has launched a new fund named as Reliance Retirement Fund - Wealth Creation Scheme, an open ended notified tax savings cum pension scheme with no assured returns.
During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit.
The new issue will be open for subscription from 22 January to 5 February 2015.
The investment objective of the scheme:
To provide capital appreciation and consistent income to the investors which will be in line with their retirement goals by investing in a mix of securities comprising of equity, equity related instruments and fixed income securities.
The scheme offers:
Growth plan:
Growth option & Bonus option
Dividend plan:
Dividend Payout Option
Direct plan - Growth plan: Growth option & Bonus option
Direct Plan - Dividend Plan: Dividend Payout Option
The scheme will allocate 65% to 100% of assets in diversified equity & equity related securities with medium to high risk profile and invest upto 35% of assets in debt and money market securities with low to medium risk profile.
The minimum application amount: Rs. 5000
Entry load: Nil.
Exit Load:
(a) 1% if redeemed / switched out from Reliance Retirement Fund before attainment of 60 years of age.
(b). Nil in case of Auto SWP / Redemption/Switch out from Reliance Retirement Fund on or after attainment of 60 years of age or after completion of 5 year lock in period, whichever is later.
(c) Nil in case of switch made from Wealth Creation Scheme to Income Generation Scheme or vice versa,
(d). Nil in case of Auto Transfer from Wealth Creation Scheme to Income Generation Scheme.
Benchmark Index for the scheme: S&P BSE 100 Index.
The fund managers of the scheme are Mr. Sanjiv Parekh, Mr. Anju Chajjer and Mr. Jahnvee Shah (Fund manager-overseas investments).
No comments:
Post a Comment