Reliance Mutual Fund (MF) has launched a new fund named as Reliance Fixed Horizon Fund - XXVIII - Series 6, a close ended income scheme with the duration of 1112 days from the date of allotment.
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 4 February to 10 February 2015.
This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market & G-sec instruments maturing on or / before the date of maturity of the scheme with low risk - Blue.
The primary investment objective of the scheme is to generate returns & growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or / before the date of maturity of the scheme with the objective of limiting interest rate volatility.
The scheme offers 2 options growth and dividend pay out option under Regular Plan & Direct Plan.
The scheme will allocate upto 30% of its assets in money market instruments with low risk profile and invest 70% to 100% of its assets in government securities and debt instruments with low to medium risk profile.
The minimum application amount is Rs. 5,000.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund manager of the scheme will be Mr. Amit Tripathi.
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