INVESTORS PLEASE LISTEN !: Auto Switch - Reliance Infrastructure Fund NFO

Thursday, June 11, 2009

Auto Switch - Reliance Infrastructure Fund NFO

Looking at the hype in the market for Reliance Infrastructure Fund NFO and the probabale response we are introducing a new feature of Auto Switch to RIF NFO. The details are as under.

Objective Of Auto Switch:

Return to Investor - Typically the investors only invest on the last day as they loose interest on thier on early investment in an NFO. This autoswitch will atleast earn liquid returns till NFO closure date.
Return to Distributor - The distributor will earn trail on the investments made by the investor before it been switched into RIF NFO on last day of NFO closure.
Less Hassles - The application is first processed as ongoing & then switched to NFO reducing occurance of errors during NFO processing.

To enable the existing Investors to form a part of ongoing Reliance Infrastructure Fund NFO, we have created a new module, Auto switch entry-Infra NFO in Kbolt.

The data entry, image upload and physical despatch procedure is same like our normal switch. Default Switch-In scheme would be Reliance Infrastructure Fund. Switch-Out under the Auto switch option is allowed from only 4 Schemes as mentioned as per the SID of Reliance Infrastructure Fund.

1. Reliance Liquid Fund - Treasury Plan
2. Reliance Liquid Fund - Cash Plan
3. Reliance Liquidity Fund
4. Reliance Floating Rate Fund

Caution :

Pls note that after selecting the switch out scheme in the form, investor has to mention the plan and option from which the switch-out transaction has to be processed or else the switch will be rejected.

For MICR instruments the investment in Liquid schemes will be subject to availability of funds hence sufficient margin needs to be kept for cheque clearance before 22nd June 2009.

Find below other salient features of Auto Switch :

Default transaction date for switch out is 23rd June'2009 (23/06/2009), irrespective of the time stamp.
All minimum amount criteria shall apply as per normal procedure.

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