Top fund house Reliance Capital Asset Management Company (RCAM) has filed papers with markets regulator Sebi for launching a Korea-focussed fund in Indian markets.
RCAM, which is part of Anil Ambani-led business conglomerate Reliance Group’s financial services arm Reliance Capital, had in 2014 launched two India funds in Japan — one for equity and the other for debt markets.
The New Fund Offer (NFO) — Reliance Korea Equity Fund — is an open ended diversified equity scheme, according to papers filed with Securities and Exchange Board of India.
The new scheme is aimed at providing long term capital appreciation to investors by identifying and investing in a portfolio constituted of equity and equity related securities predominantly in mid-cap and small-cap companies listed on the recognised stock exchanges of Korea.
Another objective of the scheme is to generate consistent returns by investing in debt and money market securities of India.
In addition, RCAM has also filed papers to launch ‘Reliance Nivesh Lakshya Fund’ with the markets regulator.
“The primary investment objective of the scheme is to generate optimal credit risk-free returns by investing in a portfolio of securities issued and guaranteed by the Central and State Government having maturity less than or equal to the tenor specified in the scheme,” as per the Scheme Information Document.