Reliance tops mutual fund last week
By siliconindia   |   Monday, 06 July 2009, 23:20 IST
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Reliance tops mutual fund last week
Bangalore: Reliance Interval Fund emerged as the top mutual fund for the week ended on July 4. The value of Reliance went up by 20.51 percent with a Net Asset Value (NAV) of 12.2404. Top holdings in RIL funds are State Bank Of Hyderabad, ICICI Bank, L&T Infrastructure Bank and HSBC. Company allocates 76 percent of its share to banking sector while 1.61 percent to current assets and 22.26 percent to finance sector respectively. Amit Tripathy is a fund manager for this interval fund which has a market size of 26.8 crore as on May 29, 2009 According to MutualFundsIndia.com, other funds which followed Reliance Interval Fund in top list for the last week are from infrastructure sector. HDFC Infrastructure Fund gained by 3.30 percent, Escorts Power and Energy by 3.24 percent, Taurus Infrastructure Fund moved up by 3.04 percent and Kotak PSU Bank ETF by three percent. Kotak PSU bank was also the top mutual fund of the week that ended on June 27. Many analysts feel that, investors in the country are in for a better time. After the government's plan to bring in uniformity in the Ulip fee, the Securities and Exchange Board of India (SEBI) has given investors another bonus by scraping entry load for mutual funds. According to the decision taken by Securities and Exchange Board of India (SEBI) at its board meeting last month, Investors will not have to pay an entry load for investing in mutual fund schemes anymore Today, the Union budget presented by Finance Minister Pranab Mukherjee gave special focus on building infrastructure project in the country.

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