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Reliance ETF Bank BeES

Reliance ETF Bank BeES
Dividend Yearly
NA
Category
Equity - ETF
52-week NAV high
3,365.17  (As on 20-03-2019)
52-week NAV low
2,713.97  (As on 04-04-2018)
Expense
0.19%  (As on 28-02-2019)

Performance

1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
Fund Returns 10.09 10.05 15.49 22.88 19.75 23.36 12.75 20.05 -
Scheme Details
Fund Type
Open Ended
Investment Plan
Growth
Bonus
NA
Launch Date
May 27, 2004
Last Dividend
NA
Minimum Investment
10000

Reliance ETF Bank BeES is an open ended index scheme which is listed on the Exchange in the form of an Exchange Traded Fund (ETF). It is offered by Reliance Nippon Life Asset Management Limited (RNAM). RNAM was formerly known as Reliance Capital Asset Management Limited. It is one of the biggest and reliable asset management companies (AMCs) in India. It offers a number of mutual funds and schemes which are suitable for investors of different investment objectives.

Investment Objective of the Reliance ETF Bank BeES

The main investment objective of the Reliance ETF Bank BeES is to facilitate the provision of returns that are closely correspondent to the total returns of the securities as represented by the Nifty Bank Index. It is suitable for long-term capital appreciation. Under this scheme, the investments are made in securities which are covered under the Nifty Bank Index. However, the achievement of the scheme’s investment objectives is not assured or guaranteed.

Key Features of the Reliance ETF Bank BeES

The key features of the Reliance ETF Bank BeES can be summed up as follows:

Type of scheme

An open ended index scheme which is listed as an Exchange Traded Fund (ETF) on the Exchange, tracking the Nifty Bank Index

Plans available

This scheme offers the Growth option only. However, the trustee might declare a dividend at times on the basis of the Dividend Policy of the scheme (discussed below).

Risk

High

Systematic Investment Plan (SIP)

Not available

Systematic Transfer Plan (STP)

Not available

Systematic Withdrawal Plan (SWP)

Not available

Investment Amount for the Reliance ETF Bank BeES

Minimum application amount

  • Directly with fund - The investors can redeem or create in exchange of Cash Component or Portfolio Deposit in Creation Unit size.
  • On the exchange - 1 unit and in multiples of 1 thereafter.

Minimum additional investment

Not applicable

Minimum instalment for Systematic Investment Plan (SIP)

Not Applicable

Minimum instalment for Systematic Withdrawal Plan (SWP)

Not Applicable

Entry Load

Not Applicable

Exit Load

Nil

Asset Allocation of the Reliance ETF Bank BeES

Type of security

Indicative Allocations(percentage of total assets)

Risk Profile

Minimum

Maximum

High/Medium/Low

Securities which are covered under the Nifty Bank Index

95%

100%

Medium to High

Money Market Instruments (including cash and cash equivalents, and CBLO), provided the maturity does not exceed 91 days

0%

5%

Low to Medium

Who can Invest in the Reliance ETF Bank BeES?

The following persons are eligible to invest and subscribe to units of the Reliance ETF Bank BeES:

  • Resident Individuals either singly or jointly
  • Non-Resident Indians (NRIs)
  • Persons of Indian Origin (PIOs)
  • Overseas Citizen of India (OCI)
  • A guardian or parent on behalf of a minor
  • Partnership Firms
  • Proprietorship which is under a sole proprietor
  • Limited Liability Partnerships
  • Association of Persons (AOP)
  • Companies
  • Public Sector Undertakings (PSUs)
  • Bodies Corporate
  • Bodies of Individuals (BOI)
  • Karta of Hindu Undivided Family (HUF)
  • Bodies and units created by Navy
  • Religious and Charitable Trusts
  • Bodies and units created by other paramilitary units
  • Banks and Financial Institutions (banks include both Co-operative Banks and Regional Rural Banks (RRBs)
  • Mutual Funds which are registered under SEBI
  • Multilateral Funding Agencies
  • Foreign Portfolio Investors (FPI) who are registered under SEBI
  • RBI
  • Scientific and Industrial Research Organisations
  • Bodies and units created by Air Force
  • Bodies and units created by Army
  • Bodies Corporate incorporated outside India with the permission of the Government of India and so on.

NAV Disclosure and Benchmark for the Reliance ETF Bank BeES

The Net Asset Value (NAV) of each unit of the scheme is calculated by using a simple formula. The result we get on dividing the net assets of the scheme by the total number of units outstanding on the date of valuation is the Net Asset Value or NAV of each unit under the scheme. This computation is done on the basis of the norms of valuation stated in Schedule VIII of the Securities and Exchange Board of India (Mutual Funds) Regulations.

The formula used for the valuation of Net Asset Value (NAV) of each unit under the Reliance ETF Bank BeES scheme can be drafted as follows:

NAV (Rs.) = (Market or Fair Value of Scheme Investments + Current Assets including Accrued Income - Current Liabilities and Provisions including accrued expenses) / Number of Units outstanding under the scheme on the day of valuation.

The NAV of the scheme is usually calculated up to 4 decimal places. The Net Asset Value (NAV) is computed and announced by the end of every working day. The NAV of the scheme has to be published in at least 2 daily newspapers on business days. The NAV of the scheme should also be reflected on the website of the Mutual Fund (www.reliancemutual.com) as well as the website of AMFI (www.amfiindia.com) by 9:00 p.m. of every business day. In case of a delay in the publication of the Net Asset Value (NAV), the asset management company (AMC) will be liable to explain in writing the reason for the delay to the AMFI on the following day. The mutual fund will also be liable to issue a press release in case the NAVs are not published by the start of the business hours on the following day due to some reason. The press release must also have the clear message of when the NAVs will be published by the mutual fund.

The benchmark of the Reliance ETF Bank BeES scheme is Nifty Bank Index.

Reliance ETF Bank BeES Fund Manager

The investments under the Reliance ETF Bank BeES scheme is managed by Ms. Payal Wadhwa Kaipunjal. She has a Bachelor’s degree in Commerce (B.Com) along with an MBA degree, a PGDM degree, and a Financial Risk Manager (FRM) Program degree from The Global Association of Risk Professionals (GARP). She has been in charge of managing funds in Reliance Nippon Life Asset Management Limited since 5 November 2016.

Investment Restrictions of the Reliance ETF Bank BeES

On the basis of the Trust Deed which is read with the Securities and Exchange Board of India (Mutual Fund) Regulations, certain restrictions are set. These restrictions are applicable at the time of investing in such mutual fund schemes. Some of the restrictions are as follows:

  • Term loans for any purpose will not be extended by the scheme.
  • As per the SEBI Act, investments made by a mutual fund in debt instruments which are not rated and are issued by a single issuer should not be more than 10% of the Net Asset Value (NAV) of the fund. The investment limit can, however, be raised to 12% of the Net Asset Value (NAV) of the scheme, provided prior approval is acquired from the Board of Directors (BOD) of the trustee company as well as the asset management company (AMC).
  • Investments made by the scheme in equity and other securities related to equity which is not listed are restricted to the extent of 5% only.
  • The average value of ‘illiquid securities’ of every scheme which are defined as non-traded, thinly traded, and unlisted equity shares, should not be more than 15% of the total assets of the scheme.
  • In accordance with the SEBI regulations, securities can be lent by the scheme.
  • Mutual funds should not invest in the unlisted security of an associate or group company of the sponsor.
  • Mutual funds should not invest in the securities of group companies which are listed and exceeds the limit of 25% of the net assets.
  • Mutual funds should not invest in securities which are issued by private placement made by an associate or group company of the sponsor.
  • Being an index scheme, this scheme would not invest in securitised debt.
  • Investments should not be made by the scheme in any fund of fund scheme.

Dividend Policy of the Reliance ETF Bank BeES

A declaration for the distribution of dividend might be made by the trustee to the unitholders under the scheme. However, the distribution of dividend is subject to the availability of surplus which is distributable. The actual distribution of dividends and the frequency of distribution will be completely at the discretion of the trustee. The dividends will be paid to the unitholders whose names appear on the Register of Unitholders on the date of record as per the scheme. The unitholders will receive the declared dividends within 30 days from the date of declaration of the dividend. However, taxes will be deducted at source, wherever applicable. The prescribed requirements in the listing agreement for the declaration of dividend will be followed by the scheme.

Nevertheless, it should be kept in mind that there is no guarantee or assurance in terms of the rate of dividend distribution. The regularity of payment of dividend is also not assured by the scheme.

Why should you invest in the Reliance ETF Bank BeES?

The Reliance ETF Bank BeES is offered by Reliance Mutual Fund (RMF). Reliance Mutual Fund (RMF) is one of India’s top AMCs with an Average Assets Under Management (AAUM) of Rs.2,40,445.37 crore (For the first quarter of FY-2018) and 83.99 lakh folios (as on 30 June 2018). It is a part of Anil Dhirubhai Ambani (ADA) Group. RMF offers a plethora of products which is suitable for the varying investment needs of every type of investors. It is present in over 160 cities all over the country. With a bunch of innovative products on offer and a supportive customer service, the Reliance Mutual Funds is one of the safest and most convenient options to invest in.

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