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Reliance asset management company has filed a draft offer document with SEBI for the launch of its open ended Corporate Bond Fund. The scheme aims to generate capital appreciation by investing in a mixed portfolio of debt and money market instruments of public and private sector companies.
The benchmark of the scheme will be CRISIL Composite Bond Fund Index. The scheme will charge an exit load of 2 percent if redeemed within 12 months from the date of allotment. It will also charge an exit load of 1 percent to 0.5 percent if redeemed between 12 months to 24 months or 24 months to 30 months respectively. No exit loads will be charged thereafter. The minimum application amount will be Rs 5000. The fund will be managed by Prashant Pimple.
