Reliance Mutual Fund has filed offer document with SEBI to launch an Open Ended Diversified Equity Scheme as 'Reliance US Equity Opportunities Fund'. The New Fund Offer price is Rs 10 per unit.
Entry load charges will be nil for the scheme and exit load 1% if redeemed or switched out on or before completion of 1 year from the date of allotment of units and Nil if redeemed or switched out after the completion of 1 year from the date of allotment of units. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 10 crore.
The scheme will be benchmarked against S&P 500 Index. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to provide long term capital appreciation to investors by primarily investing in equity and equity related securities of companies listed on recognized stock exchanges in the US and the secondary objective is to generate consistent returns by investing in debt and money market securities in India
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