- News>
- Finance & Markets
Reliance MF plans to float income fund
Mumbai, Oct 27: Reliance Mutual Fund is planning to float an open-ended income scheme to provide a regular income through dividends and capital appreciation.
Mumbai, Oct 27: Reliance Mutual Fund is planning to float an open-ended income scheme to provide a regular income through dividends and capital appreciation.
The mutual fund in its draft prospectus filed with Securities and Exchange Board of India (SEBI) said investors would have three options -- monthly dividend plan, quarterly dividend plan and growth plan.
The mutual fund would invest 80 per cent of fund corpus into debt and money market instruments while 20 per cent would be parked into equity instruments, the MF said.
The fund would not charge any entry load but the redemptions upto Rs 5 lakh within six months from the date of purchase would attract 0.50 per cent exit load, it said.
Bureau Report