Reliance Mutual open to silver, platinum funds

February 16th, 2011 - 8:30 pm ICT by IANS  

Chennai, Feb 16 (IANS) After launching a gold savings fund, Reliance Mutual Fund, part of the Anil Dhirubhai Ambani Group (ADAG), Wednesday said it was open to launching platinum and silver focused schemes if permitted by the market regulator.Launching the gold savings fund here, Reliance Capital Asset Management Ltd’s chief executive officer Sundeep Sikka said: “Presently, SEBI (Securities and Exchange Board of India) does not permit such investment schemes. When an opportunity comes, we would certainly explore that.”

Speaking of the gold savings fund, he said that investors can invest even Rs.100 per month and a demat account was not necessary.

According to him, subscription for the fund opened Feb 14 and would close Feb 28 and investors can avail of long term tax benefits from the first year itself. The scheme comes with growth and dividend plans.

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