Reliance Mutual Fund (RMF) has filed offer document with SEBI to launch an open ended diversified equity scheme as “Reliance Children Fund”.
The New Fund Offer price is Rs 10 per unit. Entry load will be Nil and exit load will be 1 per cent if redeemed/switched out before attainment of 18 years of age, and Nil in case of redemption/switch out on or after attainment of 18 years of age or after completion of 3 years of lock in period for the scheme.
The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 10 crores.
The schemes will be benchmarked against S&P BSE 100 Index. The minimum application amount is Rs 5,000 & in multiples of Re 1 thereafter.
The investment objective of the scheme is to generate long term capital appreciation and income by investing predominantly in equity & equity related instruments and the balance in debt and money market instruments. The scheme will enable the investors to fulfill their financial goals for the children.