Reliance Mutual Fund has launched a new fund named as Reliance Small Cap Fund, an open ended equity scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 26 August 2010 and closes on 09 September 2010.
The primary investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related instruments of small cap companies and the secondary objective is to generate consistent returns by investing in debt and money market securities.
The scheme offers two options viz. growth (which includes bonus option too) and dividend option with both payout and reinvestment facility.
The minimum application amount is Rs 5000 and in multiples of Rs 1000 thereafter.
Entry load for the scheme will be nil. While, Exit load will be charged at 2% if redeemed or switched out on or before completion of 12 months from the date of allotment of units, 1% if redeemed or switched out after 12 months but on or before completion of 24 months from the date of allotment of units and Nil if redeemed or switched out after the completion of 24 months from the date of allotment of units.
The fund will be managed by Mr Sunil Singhania.
The scheme will allocate 100-65% of assets in Equities and equity related securities of small cap companies including derivatives with medium to high risk profile. 0-35% of the assets in Equities and equity related securities of any other companies including derivatives with medium to high risk profile and 0-35% in debt and money market securities with low to medium risk profile.
The scheme will be benchmarked against BSE Small Cap Index.
Source: http://www.indiainfoline.com/Markets/News/Reliance-MF-launches-Reliance-Small-Cap-Fund/3260149508
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