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Reliance Mutual Fund launches RELIANCE RETIREMENT FUND

Mutual Fund

by Advisorkhoj Team | Mutual Fund | 83 Downloaded

NFO period: 22nd January – 05th February 2015

Highlights of the NFO:

  • Scheme type – An open ended notified tax savings cum pension scheme with no assured returns

  • Product suitability (WEALTH CREATION SCHEME) – This product is suitable for Investors who are seeking long term growth and capital appreciation by investing primarily in equity and equity related instruments and balance in fixed income securities so as to help the investor in achieving the retirement goals.

  • Product suitability (INCOME GENERATION SCHEME) – This product is suitable for Investors who are seeking Income over long term along with capital growth investing primarily in fixed income and balance in equity & equity related instruments so as to help the investor in achieving the retirement goals.

  • Investment objective – The investment objective of the scheme is to provide capital appreciation and consistent income to the investors which will be in line with their retirement goals by investing in a mix of securities comprising of equity, equity related instruments and fixed income securities. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

  • Minimum Application Amount - First investment Rs. 5000/- and multiples of Rs. 500/- thereafter.

  • Plan and Options available –

The fund will have 2 schemes (Both the Schemes will have separate portfolio) – Wealth Creation Scheme and Income Generation Scheme.

Both, the Regular Plans and Direct Plans will have Growth Plan – Growth Option and Bonus Option and Dividend Plan will have Dividend Payout Option

  • TAX BENEFIT - The Central Government specifies Reliance Retirement Fund as a pension fund for the purpose of clause (xiv) of sub-section (2) of section 80C of the Income Tax Act, 1961 (43 of 1961) for the assessment year 2015-16 and subsequent assessment years.

  • Benchmark – S&P BSE 100 Index

  • Lock-in Period – 5 years from the date of allotment (Note: 5 years lock in period is in respect to the scheme and not in respect to Wealth Creation Scheme or Income Generation Scheme. Auto transfer from Wealth Creation Scheme to Income Generation Scheme is applicable during 5 year lock – in period).

( Mutual Fund investments are subject to market risks, read all scheme related documents carefully.)

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