• search

Reliance Mutual Fund launches 'Long Term Equity Fund' scheme

Written by: Staff
|

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

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more