MF has filed an offer document with SEBI to launch Reliance Retirement Fund, an
open ended notified tax savings cum pension scheme.
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. The scheme will get tax benefit (upto
Rs. 1 Lakh) as a Notified Pension Fund U/S 80C of Income Tax Act 1961, subject
to fund being notified by the Central Government under Section 80C(2)(xiiic) of
the Income Tax Act 1961.
the Wealth Creation Plan, the scheme will invest a minimum of 65% of its assets
in equities and equity related securities and a maximum of 35% in debt and money
market securities. Under the Income Generation Plan, the scheme will invest a
minimum of 5% and a maximum of 30% in equities and equity related securities
and a minimum of 70% and a maximum of 95% in debt and money market securities.
benchmark for the Wealth Creation Plan of the scheme will be BSE 100 and the
benchmark for the Income Generation Plan will be CRISIL MIP Blended Index. The
fund will be managed by Sanjay Parekh, Anju Chajjer and Jahnvee Shah.