Reliance MF launches IPO for media-entertainment fund

By siliconindia staff writer   |   Monday, 20 September 2004, 07:00 Hrs
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MUMBAI: Reliance Mutual Fund has come out with an initial public offering for its media and entertainment sector fund to tap into the growth potential of this sector in the country.

The subscription for this fund, which is an open-ended scheme, would remain open upto September 27, 2004, Reliance MF said in a release here today.

The corpus of the fund would be invested in equity, equity instruments and fixed income securities of media, entertainment and asssociated companies, the mutual fund said.

It would look at investment opportunities provided by various segments like print, television, radio, cinema, outdoor advertising and internet, it added.

The mutual fund would not charge any entry and exit load during the IPO but will levy entry charge during continuous offer, after the IPO, it added.

The assets under management of MF as on August 30, 2004 stood at Rs 11,500 crore.



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