Reliance Mutual Fund has sought the Securities and Exchange Board of India’s approval to launch Reliance Capital Protection Oriented Fund-I (Plan A-Plan B), based on the draft supply doc on SEBI’s web site.
Both plans will supply three tenures every. The close-ended plan (Tenure 1), with a tenure of 12 months and as much as 13 months, will deploy 90-95 % in debt and cash market devices and 5-10 % in fairness and fairness associated devices.
The second plan (Tenure 2), with a tenure of 13 months 1 day and as much as 37 months, will make investments 65-95 % in debt devices, as much as 30 % in cash market devices and 5-20 % in fairness and fairness associated devices.
The third plan (Tenure 3), with a tenure of greater than 37 months and as much as 61 months, will allocate 70-95 % in debt devices and as much as 25 % in cash market devices and 5-30 % in fairness and fairness associated devices.
* Plans: Direct and common
* Options: Growth and dividend
* Minimum utility: Rs 5,000 and in multiples of 1 rupee thereafter
* Exit load: Nil
* Performance benchmark:
Tenure 1 – 95% Crisil Short Term Bond Fund Index and 5% Nifty 50
Tenure 2 – 85% Crisil Short Term Bond Fund Index and 15% Nifty 50
Tenure 3 – 80% Crisil Composite Bond Fund Index and 20% Nifty 50* Fund managers: Sanjay Parekh and Anju Chhajer