New Fund

Reliance Long Term Equity

Reliance Mutual has launched its maiden closed-end fund: Reliance Long Term Equity Fund which will convert into open ended as like close ended funds of other AMC after the period of three years.

This fund will look in small and mid companies for investing as these companies in current circumstances will out perform their large cap peers over a longer period of 3 to 5 yrs.
The equity allocation will be 70-100 per cent while the debt allocation (including money market instruments) will be between 0-30 per cent. [ These are just for the paper work only as the most funds are more than 90% invested in equities all the time ]

Currently during the NFO there will be no entry load but if redeemed within a year then an exit load of 4% [ beware ] and from 1-2 yr 3% [ still high ] and then from 2-3 yr it will be 2%.

Redemption will be available at half-yearly intervals only, which will be the first five business days immediately after the end of each calendar half year.

Details

Plan opens: November 14, 2006
Plan closes: December 11, 2006
Unit cost during NFO: Rs 10
Fund manager: Sunil Singhania [ same manager who manages Reliance Growth fund ] [ give him time he will show you the result ]

Verdict Go for it only if you want to stay in the fund for three as getting in and getting out at every market fluctuation will make this fund of no use.

Lanco Infratech Limited IPO alltoment done

click on the following link to see it

http://www.intimespectrum.com/IPO/jsp/IPOdetails.jsp