Jun 6: Reliance Mutual Fund has proposed a new scheme Reliance ETF Nifty Midcap 150 for long term capital growth. Funds will be invested in equity and equity related securities and portfolios replicating the composition of Nifty Midcap 150 Index.
There is no entry or exit load and minimum application amount during new offer period is Rs 5,000 or in multiples of Rupees on there after. The scheme will invest 95 to 100% in Nifty Midcap 150 Index with a medium to high risk profile. About 0-5% may be invested in money market instruments with maturity not exceeding 91 days. The scheme is managed by Payal Wadhwa Kaipunjal, Senior Fund Manager with over 10 years experience in the field. The manager has previously managed Reliance ETF Junior BeES, Reliance ETF PSU Bank BeES, CPSE ETF Reliance ETF Gold BeES, among others.