Reliance Mutual Fund has launched its new fund offering, Reliance India Opportunities Fund – Series A on September 7, and will be open for subscription till September 21. It’s a close-ended fund and will have a tenure of 1,222 days from the date of allotment of units. The face value of the new issue will be Rs 10 per unit.Timing wise, the fund launch happens as the rupee is falling against the dollar and fuel prices have been moving up. As a result, equity markets are a little edgy. For a close-ended equity fund offering, this is a good time!Close-ended funds are akin to some sort of market timing. Hence, a falling market may be good for such a product in terms of investments. This offering must be judged on what it promises. Focus on high growth, and high-quality businesses available at reasonable valuations are important. Markets may rise or fall, but the focus on quality always pays off in the long-term. The fund offering is suitable for investors who believe that fund manager Sailesh Raj Bhan (deputy CIO – equity investments) will be able to exploit mispricing opportunities profitably.Fund constructThe fund aims to build a portfolio P/E that is potentially much lower (cheaper) than markets or benchmark indices. The fund wants to focus on higher earnings growth profile aiming for better than market growth. It is going to be a high conviction portfolio, which will focus on only 25 to 30 stocks.The fund manager is betting on GARV — an acronym for high growth, high-quality businesses available at reasonable valuations. The focus on ‘value’ is very clear at a time when Indian markets seem priced a tad expensive versus historical averages. The fund manager does not want to overpay for growth.A well-diversified structure across themes/ sectors (the fund aims to have exposure to at least 5 – 7 sectors) should serve it well.Also, the fund is keen on investing approximately 50% of the money in shares of market-leading companies.Stock/sector approach – The portfolio will focus on stock specific investment approach. Allocations may include some of the themes like Financials, Energy, Healthcare, Engineering, etc.Benchmark: The performance of the scheme would be benchmarked against S&P BSE 200 Index.Tenure – 1,222 days from the date of allotment of units.Minimum application amount – Rs 5,000 and in multiples of Re. 1 thereafter.Load structure – Exit load is nil. Since the scheme shall be listed on BSE or any other recognised Stock Exchange, exit load shall not be applicable.for more info :-  Reliance India opportunities fund 

Rakesh Sharma

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How to open an Axis ASAP instant bank account online With more than 3700 branches and close to 15000 ATMs across the country, Axis Bank has displayed a blazing rate of growth since its launch (in its earlier UTI Bank avatar) in 1993. It has spread its product portfolio to encompass all aspects of both assets and liabilities in less than two decades. Analysts and market experts are of the opinion that Axis Bank represents the best combination of its conservative public sector banking past and the aggressive drive towards modernity of a typical new age bank. Like most other private and public sector banks operating in India, Axis Bank’s product portfolio on the savings accounts side includes regular and premium savings accounts, along with special savings accounts for women, children and senior citizens. But the savings account that exemplifies the modern face of Axis Bank is the ASAP account, also referred to by the bank as EasyAccess Savings Account. In order to open this account, you do not need to visit any Axis Bank branch. You simply complete the quick KYC verification on the Axis Bank app on your phone or on the website using just your PAN Card number and your Aadhaar Card number. This would help you open the account online immediately, and you can start using it as soon as you receive your chequebook, Debit Card and other deliverables at your registered address. The maximum balance you can keep in this account is Rs. 1 lakh, and for keeping higher accounts, you need to go to a branch and complete the regular KYC process with your biometrics. You get a daily point of sale swipe limit of Rs. 1 lakh on the Rupay Platinum Debit Card that comes with the ASAP account. ATM withdrawals using this card are limited to Rs. 40000 per day. All spends made using this debit card would attract the Edge Reward Points of Axis Bank, which can later be redeemed for attractive gifts or privileges. When you eat at Axis Bank partner restaurants and pay using this debit card, you get an unbelievable 15% off on your bill amount, or an equivalent credit of cashback. Every quarter you are eligible for one standard multicity chequebook of 25 cheque leaves, and any cheques needed beyond that would attract charges. If you can maintain balances above Rs. 50000, you would get an interest of 4%, but anything below that would fetch you only 3.5%. But anything you keep above Rs. 10000 would automatically get swept into a fixed deposit providing much better rate of interest.Get detailed information :-click here