I think soon we have to pay an annual fees for our credit cards..!! So credit card holders be ware of it...! According to banks, the reason behind this move is high cost of issuing and maintaining them...

Reliance Mutual Fund as come up with new fund called Reliance Infrastructure Fund, an open ended Equity Scheme. The New fund will close on June 23, 2009. The units will be available at Rs. 10/- per unit (subject to applicable load) during the New Fund Offer and Continuous offer for Units at NAV based prices.

It pre- dominantly invests in the infrastructure sector, with the government spending more on the same and foreign investments coming into Indian infrastructure companies. Infrastructure spending has witnessed a sharp acceleration, with most of the segments in the economy constrained in terms of capacity availability. Riding on the back of the fourth consecutive year of 8%+ GDP growth, a balanced increase in the gross capital formation (GCF) in infrastructure as a proportion of GDP emerges as the most important key in sustaining high economic growth. Currently, the GCFI is at 5% of GDP. As per the Planning Commission, the GCFI need to be increased to 9% of the GDP to sustain growth momentum in the economy.

Infrastructure sector plays important role in country’s development and GDP growth. India has already negotiated the difficult transition from public infrastructure creation to a market determined model. This will give room for more rural developments and spending.


NFO Details:

Mutual Fund Family: Reliance
Mutual Fund Fund Type: Open Ended Equity Scheme
Minimum Investment: Rs. 5000/-
Entry Load:
Below Rs. 2 Crs - 2.25%
Rs 2 Crs & above and below Rs 5 Crs - 1.25%
Rs 5 Crs & above- Nil

If anyone interested to go with that, do reach me at 9886803739 or
chethan.st@gmail.com or write2chethan@gmail.com