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Home / Our Schemes / Debt/Liquid Schemes Print
(A Debt Oriented Interval Scheme) The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio
Latest NAVs

SchemeCurrent NAVNav Date
Quarterly Plan Series II - Retail Growth Plan12.774209 Sep 2010
Quarterly Plan Series II - Retail Dividend Plan10.048709 Sep 2010
Quarterly Plan Series II - Institutional Growth Plan12.844309 Sep 2010
Quarterly Plan Series II - Institutional Dividend Plan10.050609 Sep 2010
Quarterly Plan Series III - Institutional Dividend Plan10.010409 Sep 2010
Quarterly Plan Series III - Institutional Growth Plan12.702109 Sep 2010
Quarterly Plan Series III - Retail Dividend Plan10.009409 Sep 2010
Quarterly Plan Series III - Retail Growth Plan12.690109 Sep 2010
Annual Plan Series I - INSTITUTIONAL DIVIDEND PLAN10.000006 Apr 2010
Annual Plan Series I - INSTITUTIONAL GROWTH PLAN12.869217 May 2010
Annual Plan Series I - RETAIL DIVIDEND PLAN10.150609 Sep 2010
Annual Plan Series I - RETAIL GROWTH PLAN12.896909 Sep 2010
Monthly Plan - Series I - Institutional Dividend Plan10.044209 Sep 2010
Monthly Plan - Series I - Institutional Gowth Plan12.747509 Sep 2010
Monthly Plan - Series I - Retail Dividend Plan10.042709 Sep 2010
Monthly Plan - Series I - Retail Growth Plan12.735909 Sep 2010
Monthly Plan - Series II - Institutional Dividend Plan10.022609 Sep 2010
Monthly Plan - Series II - Institutional Gowth Plan12.737909 Sep 2010
Monthly Plan - Series II - Retail Dividend Plan10.021909 Sep 2010
Monthly Plan - Series II - Retail Growth Plan12.726709 Sep 2010
Quarterly Plan - Series I - Institutional Dividend Plan10.099709 Sep 2010
Quarterly Plan - Series I - Institutional Gowth Plan10.231809 Sep 2010
Quarterly Plan - Series I - Retail Dividend Plan10.095909 Sep 2010
Quarterly Plan - Series I - Retail Growth Plan12.916309 Sep 2010
Rationale for launching this Fund
  • Cash Flows on periodic, predefined basis will lead to lower liquidity requirements, resulting in potentially higher portfolio yields.
  • Fund managers can plan investments and cash flows, better, as timing of cash flows are defined more clearly. This will lead to potentially better bargaining power and yields.
  • Better Asset Liability Management will endeavour to reduce interest rate risk and reinvestment risk significantly leading to a healthier portfolio.
  • Lower volatility, as a reasonable proportion of assets will mature in line with the respective interval plans.
  • The different interval plans can be used in conjunction as tools for efficient cash management by the investor
  • Major cash flows will be typically limited to periods around the transaction date, leading to lower requirement of day to day monitoring. Cost savings due to this can be passed on to the investor, thereby adding value.

Specified Transaction Period
  • The Specified Transaction Period is the specified date(s)/ period on /during which Subscription/ Redemption / Switches may be made in the scheme without any load, once a month/ once a quarter, as the case may be, under the Monthly / Quarterly Interval Funds respectively.
  • The Specified Transaction Period is the specified date(s)/ period on /during which Subscription/ Redemption / Switches may be made in the scheme without any load on the 370th day from the date of allotment after the closure of the NFO and 370th day after every subsequent specified transaction period, as the case may be, under the Annual Interval Fund.
  • In case such a day happens to be a non-working day, then the immediate next working day shall be considered as the “Specified Transaction Period”.

The AMC reserves the right to change/ alter the “Specified Transaction Period”, depending upon the prevailing the market conditions and in the interest of the unit holders.


How will the fund work?

Let us take an example of a Monthly Interval Fund

 
Opening Date 14th March 07
Closing Date 15th March 07
Specified Transaction Period 15th of every month
Next Transaction Date 15th April 07


Product Features

Investment Objective

The primary investment objective of the scheme is to seek 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 plan with the objective of limiting interest rate volatility.

Asset Allocation

For Monthly & Quarterly Interval Funds
Instruments Asset Allocation Asset Allocation Risk Profile
  Min Max  
Money Market instruments 30% 100% Medium to Low
Government Securities issued by Central &/or State Govt & other fixed income/ debt securities* including but not limited to Corporate bonds and securitised debt 0% 70% Medium to Low

* Debt Securities will also include Securitised Debt, which may go up to 70% of the portfolio. Average maturity of the respective plans will normally be in line with the maturity profile of the securities.

For Annual Interval Fund
 
Instruments Asset Allocation Asset Allocation Risk Profile
  Min Max  
Money Market instruments 0% 70% Medium to Low
Government Securities issued by Central &/or State Govt & other fixed income/ debt securities* including but not limited to Corporate bonds and securitised debt 30% 100% Medium to Low

* Debt Securities will also include Securitised Debt, which may go up to 100% of the portfolio. Average maturity of the respective plans will normally be in line with the maturity profile of the securities.

The investment managers shall have the flexibility to invest the debt component into floating rate debt securities in order to reduce the impact of rising interest rates in the economy.
Derivatives may be used to create synthetic fixed rate bond/ floating rate bond.
 
Choice of Plans/Options
  • Retail Plan
  • Institutional Plan

Under each Plan (Institutional & Retail), there will be a choice between Growth Option and Dividend Option.
Under the Dividend Option, an investor may choose for Payout or Reinvestment of the Dividend amount.

Minimum Investment Amount
  • For Retail Plan : Rs. 5,000 (Rupees Five Thousand ) and in multiples of Re. 1 thereafter
  • For Institutional Plan : Rs. 1,00,00,000/- (Rupees One Crore) and in multiples of Re. 1 thereafter

Additional Subscription / Investment Amount :
  • Rs. 1000 and in multiples of Re.1 thereafter under both the plans

Benchmark Index
  •  Monthly Interval Plan – Crisil Liquid Fund Index
  • Quarterly Interval Plan - Crisil Liquid Fund Index
  • Annual Interval Plan - Crisil Composite Short Term Bond Fund Index

Load Structure
  • There will be no Entry or Exit Load during Specified Transaction Period
  • However, there will be Exit Load as shown below for redemptions on any day, other than the Specified Transaction Period for the respective Series / Fund.
Cut-off time

In terms of SEBI Circular No. 11/142521/08 dated October 24, 2008 the following provision is applicable in respect of Income/Debt oriented schemes (other than liquid fund schemes) of Reliance Mutual Fund ("RMF") on prospective basis on or after October 31, 2008 (October 30,2008 being a Non - Business Day):

  • For Purchase of Rs. 1 Crore and above: In respect of purchase of units in Income/ Debt oriented schemes (other than liquid fund schemes and/or plans) with amount equal to or more than Rs. 1 crore, irrespective of the time of receipt of application, the closing NAV of the day (or immediately following Business Day if that Day is not a Business Day) on which the funds are available for utilization shall be applicable.
  • Redemption: In respect of valid applications received upto 3pm by the mutual fund, same day’s closing NAV shall be applicable In respect of valid applications received after 3pm, by the Mutual Fund, the closing NAV of the next business day shall be applicable
 
Entry Load     Exit Load
Nill Monthly Interval Fund
Nil if redeemed on/ during ‘Specified Transaction Period’
0.10% if redeemed at anytime other than Specified Transaction Period
 
Quarterly Interval Fund Series :
Nil if redeemed on/ during ‘Specified Transaction Period’
0.30% if redeemed at anytime other than Specified Transaction Period
 
Annual Interval Fund Series:
Nil if redeemed on/ during ‘Specified Transaction Period’
2.00% if redeemed at anytime other than Specified Transaction Period
 

The AMC reserves the right to change/ alter the “Specified Transaction Period”, depending upon the prevailing the market conditions and in the interest of the unit holders

Statutory Details :
Sponsor : Reliance Capital Limited.Trustee : Reliance Capital Trustee Co. Limited.Investment Manager : Reliance Capital Asset Management Limited. Statutory Details : The Sponsor, the Trustee and the Investment Manager are incorporated under the Companies Act 1956. Reliance Interval Fund: A Debt oriented interval Scheme. Terms of Issue: The units are available at the face value of Rs. 10/- per unit during the New Fund Offer Period. The scheme will open for redemption only during the Specified transaction Period as mentioned in the Offer Document. The Product/PN/RIF/Ver1.0/1st 4 June’06 AMC will calculate and disclose the first NAV not later than 30 days from the closure of New Fund Offer Period. Subsequently, the NAV will be calculated at the close of every working day and shall be published in tow daily newspapers at an interval not exceeding one week.

General Risk Factors:
Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Sponsor/AMC/Mutual Fund is not indicative of the future performance of the Scheme. Reliance Interval Fund is only the name of the Scheme and does not in any manner indicate either the quality of the Scheme; it's future prospects or returns. The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond their initial contribution of Rs.1 lakh towards the setting up of the Mutual Fund and such other accretions and additions to the corpus. The Mutual Fund is not guaranteeing or assuring any dividend/ bonus. The Mutual Fund is also not assuring that it will make periodical dividend/bonus distributions, though it has every intention of doing so. All dividend/bonus distributions are subject to the availability of the distributable surplus in the Scheme. For details of scheme features apart from those mentioned above and scheme specific risk factors, please refer to the provisions of the offer document. Offer Document and KIM is available at all the DISCs/ Distributors of RMF. Please read the Scheme Information Document and Statement of Additional Information carefully before investing.
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