Reliance Plans New Income Fund

Reliance Mutual Fund is planning to unveil a new income fund.

Reliance Mutual Fund is planning to unveil a new income fund, Economic Times reports. The Reliance Fixed Horizon Fund – XX will be a close-ended income scheme tracking Crisil’s Short Term Bond Fund Index.

The scheme will invest about 70% of assets in money market instruments with low to medium risk profile, while 30-100% of assets will be allocated to government securities and other fixed income / debt securities but not limited to corporate bonds with low to medium risk profile, adds India Infoline. Amit Tripathi has been appointed as the fund manager.

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