The Hindu Business Line : Update

Reliance Mutual has launched Reliance Equity Advantage, an open-ended diversified equity scheme, which proposes to invest in line with the sector ratio of S&P CNX Nifty.

The fund will invest 70-100 per cent of the corpus in equity & equity related instruments and the balance 0-30 percent in debt and money market instruments. Reliance Equity Advantage will have at least 80 per cent of its equity investments in S& P CNX Nifty stocks and the balance in other stocks.

This means that the fund would predominantly invest in stocks from Nifty index and to a small extent in the other stocks of belonging to any/all sectors.

The fund will also use various hedging techniques whenever the fund manager considers that there exists any opportunity to generate additional returns in accordance with SEBI guidelines.

The fund has both growth & dividend plans. Minimum one time investment will be Rs 5,000 and multiples of Re 1 thereafter.

During the NFO and thereafter the fund would charge an entry load of 2.25 per cent. Investments through a systematic investment plan would also carry the same entry load.

An exit load of 1 per cent will be charged if the fund is redeemed /switched on or before completion of six months from the date of allotment. If the redemption or switch is made between six months and before completion of one year from the date of allotment, the fund will charge 0.5 per cent. The New Fund Offer closes on July 10.

ABN AMRO asset management company plans to launch ABN AMRO Chindia Fund, which will invest a minimum 65 per cent of its asset abroad. The fund will aim at generating returns primarily from actively managed portfolio of transferable equities of companies that are domiciled in, or derive a predominant part of their revenues or profits from China and India.

Birla Sun Life Mutual Fund has filed its offer document for its new International Equity Fund. The scheme will be an open-ended diversified equity scheme. The minimum investment plan starts from Rs 5,000 and in multiples of Re 1 thereafter.

The primary investment objective of the scheme is to generate long-term growth of capital by investing predominantly in a diversified portfolio of equity and equity-related securities in the domestic and international markets.

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