Reliance Mutual Fund has filed offer document with Sebi to launch Reliance Fixed Horizon Fund – XXXIV – Series 1 to 10, a close-ended income scheme. The New Fund Offer price is Rs 10 per unit. Each Series under the scheme will have tenure of 15 days to 120 months 7 days from the date of allotment of units under the respective Series.
Investment objective: The scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.
Plans/ option(s): Growth and dividend (payout) options under both regular plan and direct plan.
For tenure up to 13 months: The scheme shall invest upto 100% in money market instruments and government securities & debt instruments.
For tenure above 13 months & upto 36 months 15 days: The scheme shall invest upto 30% in money market instruments and invest 70%-100% in government securities & debt instruments.
For tenure above 36 months 15 days - 120 months 7 days: The scheme shall invest upto 10% of its assets in money market instruments and invest 90%-100% of its assets in government securities & debt instruments.
Minimum Application Amount: Rs 5000 and in multiples of Re 1 thereafter.
Minimum Target Amount: Rs 20 crore
The fund will have 10 series maturing between 15 days - 120 months 7 days from the date of allotment.
For series having duration 15 days to 90 Days - Crisil Liquid Fund Index
For series having duration 91 days to 36 months 15 Days - Crisil Short Term Bond Fund Index
For series having a duration above 36 months 15 Days to 120 months 7 days - Up to 7 Years Crisil Composite Bond Fund Index and for series with more than 7 year duration the benchmark shall be I Sec Li Bex.
Fund Manager: Amit Tripathi