RELIGARE MUTUAL FUND has launched Religare Gold Fund, an open-ended fund of fund schemes. The investment objective of the scheme is to provide returns which closely correspond to returns provided by Religare Gold Exchange Traded Fund. An exit load of 2 per cent is payable if units are redeemed or switched-out on or before six months from the date of allotment. If the units are redeemed or switched-out after six months but before one year from the date of allotment, an exit load of 1 per cent will be charged. The performance of the scheme will be benchmarked against the prices of gold and will be managed by Mr Nitish Sikand. The new issue will be open for subscription from November 15 to November 29. The offer price is Rs 10 per unit.
TATA MUTUAL FUND has declared bonus units for Tata Young Citizens Fund. The record date for the bonus issue has been fixed as November 14. Accordingly, the proposed bonus units will be in the ratio of 1:5 (one bonus unit for every five units held).
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