Anil Ambani-led Reliance Alternative Investment Fund, a wholly-owned subsidiary of Reliance Nippon Life Asset Management, plans to mop up Rs. 700 crore soon with the launch of its first commodity fund Reliance Commodity Plus AIF.
The minimum investment per investor in the fund has been fixed at Rs. 1 crore. Initially, the fund will remain open for 45 days and can be extended depending on the demand, sources said.
Reliance AIF will be the first Indian asset management company to foray into commodity derivatives market after it was allowed by the market regulator SEBI last year.