Reliance Mutual Fund floats Fixed Horizon Fund-XVIII-Series 12

Reliance Mutual Fund new issue closes on 25th May

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XVIII-Series 12, a close-ended income scheme.

The investment objective of the scheme is to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. The tenor of the scheme is 181 days.

The new issue closes on 25th May. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Amit Tripathi is the fund manager.

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ICICI Prudential Mutual Fund unveils one year fixed maturity plan

ICICI Prudential Mutual Fund new issue closes on 26th May

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 57-1 Year Plan A, a close-ended income scheme.

The investment objective of the plan under the scheme is to seek to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenor of the plan is one year.

The new issue closes on 26th May. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.

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EPFO won’t look at past performance while making new AMCs

EPFO is in the process of appointing multiple fund managers for managing its funds for a three year period beginning 1st July

Retirement fund body EPFO (Employees’ Provident Fund Organisation) will not take into account the past performance of previously engaged ICICI Pru, HSBC AMC, SBI and Reliance Capital while finalising the new asset management companies (AMCs) for managing its Rs3 lakh crore corpus.

“Since the returns on investment provided by four fund managers were above the benchmark level of 8.52%, past performance as EPFO’s fund manager would not be given any weightage while making fresh appointments,” a source privy to the development told PTI. EPFO is in the process of appointing multiple fund managers for managing its funds for a three year period beginning 1st July.

The meeting of the committee to recommend the appointment of the fund managers for EPFO to its trustees is likely to be held next week where the panel would shortlist eligible AMCs.

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