Financial Daily from THE HINDU group of publications
Thursday, Oct 21, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 21, 2004 |
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Markets
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Mutual Funds Reliance MF launches 2 schemes for NRIs Our Bureau
Mumbai , Oct. 20 RELIANCE Mutual Fund has launched two new funds that are exclusively for non-resident Indians (NRI). Reliance NRI Equity Fund and Reliance NRI Income Fund have been launched with an objective to provide attractive investment avenues to the NRI investors, according to a company press release. "NRI investors are exposed to multiple investment options across all global markets and have access to a wealth of information and reports on global economies. While choosing investment options, this highly informed audience is interested in long term value and asset creation," said the press release. Reliance NRI Equity Fund is an open-ended diversified equity scheme that will invest in equity or equity-related instruments primarily drawn from the companies in the BSE-200 index. The fund offers both dividend and growth plans. The NRI Income Fund is an open-ended income scheme, which will predominantly invest in debt instruments. The issue will remain open from October 16 to November 1. Units will be available at Rs 10 during the initial public offerings, said the release.
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