India Post to retail Reliance MF schemes

Port Blair, Jan 17: The India Post has entered into a partnership with Reliance Mutual Fund for retailing various mutual fund schemes from post offices.

''The ongoing NFO of the Reliance Natural Resources Fund will also be available from all major post offices in the Andaman and Nicobar Islands upto January 30,'' Director of Postal Services in Andaman G Madhumita Das told reporters here today. The Director added that the primary investment objective of the scheme was to generate capital appreciation and provide long-term growth, development, production of natural oil and natural gas, minerals and precious metals, gold, silver, diamonds, power and energy, agricultural and forest produce as also the companies engaged in processing and distribution of these natural resources.

The rapid economic growth in the emerging economies like India and China, had increased the demand for natural resources, including industrial raw materials and energy.

''With limited reserves of coal, crude oil, natural gas, metals on earth, the prices of natural resources are likely to remain high and rise further in future,'' she added.

Reliance Natural Resources Fund is an open ended fund and the investor can opt for redemption or switch-over anytime after 30 days from the closure of the NFO.

During the NFO, units will be available at Rs 10 plus 2.25 per cent entry load. The minimum investment amount would be Rs 5,000, the Director informed.

Reliance Mutual Funds is one of the leading mutual fund houses in the country with assets under management of more than Rs 80,000 crore.

UNI