Reliance Mutual Fund launches 'Long Term Equity Fund' scheme

Mumbai, Nov 22 (UNI) Reliance Mutual Fund, one of India's leading Mutual Funds, has launched a new long term close-ended diversified equity fund.

The new fund 'Reliance Long Term Equity Fund (RLTEF)' is a 36 month, close-ended diversified equity fund with an automatic conversion into an open ended scheme at the end of the 36 months from the date of allotment, said an official press release here.

RLTEF will invest in select small and mid-cap stocks which have the potential to grow and deliver attractive returns. The NFO would be open till December 11th, 2006.

''Given the robust growth displayed by the Indian economy; small and mid-cap companies have the potential to transform into large caps in the coming years. RLTEF endeavors to offer attractive growth potential to investors who have a long term horizon. This new offering is bound to strengthen our leadership status in the equity space,'' said Mr Vikrant Gugnani, President, Reliance Mutual Fund.

With an investor base of over 2.3 million, RMF manages a corpus of Rs 31,572 crore that includes equity funds of Rs 14,600 crore - the largest equity AUM(assets under management) in the private sector as on October 31,2006.

UNI SN PM SKB1849