Reliance MF registers for natural resources fund

Reliance Mutual Fund has come up with an equity fund which will chiefly infuse in companies engaged in the discovery, production or distribution of natural resources. Named Reliance Natural Resources Fund, it will be benchmarked against the Standard & Poor's Goldman Sachs Spot Commodity Index. There may be partial exposure to foreign securities, subject to regulatory limits. Companies operating in natural resources industries comprise those that are considered as principally engaged in the discovery, development, production, or distribution of natural resources, or are service providers for these areas.

Natural resources likely to comprise, energy sources, metals, forest products, food and agriculture, and other basic commodities. Companies related to these areas may own or produce oil, natural gas, precious metals etc. A particular company will be considered to be principally engaged in natural resources industries if at the time of investment at least 50 per cent of the company's assets, gross income, cash flow, or net profits is, committed to, or derived from, those industries. The fund will invest principally in equity securities of issuers in natural resources industries.