Reliance MF launches Equity Linked Saving Scheme Series I

Reliance Mutual Fund announced the launch of Reliance Equity Linked Saving Scheme Series I that closes on 17 March 2008. Units can be purchased only during the NFO period i.e. 18 December 2007 to 17 March 2008.

Reliance Equity Linked Saving Scheme Series I is a ten-year close-ended Equity Linked Savings Scheme (ELSS).

The primary objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equities along with income tax benefit.

Snapshot

Name of Fund: Reliance Equity Linked Saving scheme series I a 10-year close-ended equity linked savings scheme.

Asset Allocation: The fund will invest can invest 80%-100% in equities. Whereas the investment in debt and money related instruments will be 0% - 20%.

Fund Opens: 18 December 2007

Fund Closes: 17 March 2008

Face Value: Rs 10

Investment Options: The scheme has growth option and dividend option with payout and reinvestment facilities

Entry Load: Nil

Exit Load: Nil

Minimum Investment Amount: Minimum initial investment is Rs.500/- and in multiples of Rs.500/- thereafter with no upper limit. However under Section 80C of Income Tax Act, 1961, tax benefit will be available only up to a maximum amount of Rs.1, 00,000

Benchmark Index: BSE 100