Reliance fund house launches Exchange Traded Fund
Reliance Mutual fund launches the Reliance Banking Exchange Traded Fund18 May 2008
Reliance Mutual Fund launches the Reliance Banking Exchange Traded Fund (RBETF), an open-ended, exchange-listed, index-linked scheme.
The investment objective is to provide returns to correspond to the total returns of the CNX Bank Index.
The new fund offer is open for subscription from May 12 to May 30, 2008.
RBETF will invest at least 90 per cent of its total assets in the stocks of the underlying index, and would hold up to 10 per cent of its total assets in stocks which are not included in the underlying index.
The application amount should be minimum Rs 5,000 and in multiples of Rs 1 thereafter.