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| Rel MF looks to offer more schemes on stock exchanges |
| Press Trust of India / New Delhi Dec 08, 2009, 20:59 IST |
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Reliance Mutual Fund (RMF), part of Anil Dhirubhai Ambani Group, has said it will look at offering more plans and schemes on the recently launched MF trading platform of stock exchanges.
The company has joined the new trading platforms on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
"RMF will look at offering more schemes and plans on both the platforms in the future," fund house said in a statement on Monday.
Currently, about 13 schemes and 52 RMF plans would be allowed for orders of purchase and redemption on BSE STAR MF and NSE Mutual Fund Service System, the two trading platforms of the two exchanges.
"The two platforms will help our investors reduce their administrative task as this will be taken care of by our exchanges," Reliance Capital Asset Management Chief Executive Officer Sundeep Sikka said.
RMF schemes are managed by Reliance Capital Asset Management, a subsidiary of Reliance Capital.
The new platforms will enable investors to buy and sell mutual fund products through over two lakh trading terminals of stock exchanges in the same way equity shares are traded through brokers.
In the initial phase, NSE will waive all charges for trading on the new platform to attract investors.
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