Reliance MF garners Rs. 150 crore through its ELSS Series I

Reliance Mutual Fund has collected Rs 150 crore through its Reliance Equity Linked Saving Scheme Series I during its initial offer period from 19 December 2007 to 17 March 2008. Reliance Equity Linked Saving Scheme Series I is a 10-year close-ended equity linked saving scheme. The primary objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equities along with income tax benefit. Reliance Equity Linked Saving Scheme Series I offers growth and dividend plan. The dividend option will have dividend payout and dividend reinvestment. The fund will invest can invest 80%-100% in equities. Whereas the investment in debt and money related instruments will be 0% - 20%.