Reliance Mutual fund files an offer document for Reliance US Dollar Fund

The scheme offers a choice of three plans: debt, equity and money market.

Reliance Mutual Fund has filed an offer document with SEBI to launch an open ended ‘fund of fund’ called Reliance US Dollar Fund.

The investment objective varies with the chosen plan. The debt plan aims to provide regular income and capital appreciation, the equity plan capital appreciation while the money market plan seeks to preserve capital by generating continuous positive returns.

Minimum amount for application is Rs. 10,000 and additional purchases can be in the multiples of Rs. 1000. The switchover facility is available, subject to minimum investment of Rs. 10,000.

The scheme will be benchmarked against US Corporate Index (rebased in INR), Russell 1000 Growth (rebased in INR) and S&P/BG Cantor US Treasury Bill Index (rebased in INR) for debt plan, equity plan, money market plan, respectively.

The funds will be invested as follows:

Each plan offers a growth option, dividend payout option and dividend reinvestment option. The scheme will be managed by Jahnvee Shah.

There is an exit load of 0.5% for debt plan and 1% for equity plan on redemption, switch on or before completion of 1 year.