Reliance MF launches fixed horizon fund
Bangalore: Reliance Mutual Fund has launched dividend on the face value value of 
10 per unit under 'Reliance Fixed Horizon Fund-IX-Series 2'. The fund house has decided to distribute 100 percent distributable surplus as on the record date. The NAV (Net Asset Value) for retail plan was 10.5872 per unit as on 12th October 2009.
The new fund offer (NFO) has opened for subscription on October 20, 2009 and closes on October 23, 2009. Reliance Fixed Horizon Fund-IX is a close-ended income scheme. The investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Amit Tripathi is appointed as the Fund Manager of the scheme.
In the month of September the mutual funds lost favor, after witnessing heavy inflows in July and August as the investors pulled out more than 1.44 lakh crore, which is the highest monthly outflow so far this financial year. The combined net outflow from the 36 fund houses stood at 1,44,327 crore in September, as per the data from the Association of Mutual Funds in India (AMFI). The total fund inflows in July and August stood at 1,56,352 crore.
So far this fiscal, the mutual fund industry witnessed net inflow of more than 3.40 lakh crore, while there have been outflows in June and September - totaling over 2.28 lakh crore.
The investors had pulled out 83,937 crore in June, while at the end of September, investors pulled out 1,44,327 crore. The investors pulled out money from the four major fund schemes - income, equity, balance and liquid or money market.
10 per unit under 'Reliance Fixed Horizon Fund-IX-Series 2'. The fund house has decided to distribute 100 percent distributable surplus as on the record date. The NAV (Net Asset Value) for retail plan was 10.5872 per unit as on 12th October 2009.
The new fund offer (NFO) has opened for subscription on October 20, 2009 and closes on October 23, 2009. Reliance Fixed Horizon Fund-IX is a close-ended income scheme. The investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Amit Tripathi is appointed as the Fund Manager of the scheme.
In the month of September the mutual funds lost favor, after witnessing heavy inflows in July and August as the investors pulled out more than 1.44 lakh crore, which is the highest monthly outflow so far this financial year. The combined net outflow from the 36 fund houses stood at 1,44,327 crore in September, as per the data from the Association of Mutual Funds in India (AMFI). The total fund inflows in July and August stood at 1,56,352 crore.
So far this fiscal, the mutual fund industry witnessed net inflow of more than 3.40 lakh crore, while there have been outflows in June and September - totaling over 2.28 lakh crore.
The investors had pulled out 83,937 crore in June, while at the end of September, investors pulled out 1,44,327 crore. The investors pulled out money from the four major fund schemes - income, equity, balance and liquid or money market.