Reliance mutual fund has approved the changes in Reliance Medium Term Fund (the Scheme), an open-ended income scheme, with effect from 23 July 2008. The Fund house has introduced new dividend options, reduced minimum investment amount and revised load structure under Reliance Medium Term Fund. The Fund has introduced daily and weekly dividend reinvestment option under dividend plan in addition to monthly and quarterly dividend plans of the scheme. The bonus option shall not be available.
Accordingly, The scheme will have growth and dividend option. Under dividend plan, daily and weekly dividend plans will have only reinvestment option. While monthly and quarterly dividend plan will be having both dividend payout and reinvestment option.
It has been reduced the minimum application amount to Rs 5000 and in multiples of Re 1 thereafter under all plans.
Plans under Reliance Medium Term Fund will not charge an entry load. Whereas, it may levy 0.15% as an exit load if the investment units are redeemed/ switched out on or before 7 days from the date of allotment. And it may not charge an exit load redemptions done after 7 days from the date of allotment.
All other features and terms and conditions of the scheme shall remain unchanged.
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