Reliance Mutual Fund launches portfolio SIP, targets Rs 1K cr in 1st yr

Reliance Mutual Fund (MF) has launched portfolio systematic investment plan (PSIP) that will enable retail customers to invest in multiple schemes run by the company and said it aims to raise Rs 1,000 crore through this route in the first year of launch.

"The portfolio SIP...will provide an opportunity for retail customers to invest systematically in multiple RMF schemes," a company release said.

According to the company, customers can choose to invest in desired set of Reliance MF schemes across all asset classes like equity, debt and gold.

"Portfolio SIP empowers customers to build diversified portfolio across asset classes. Through this mode, investors can leverage benefit of investing in multiple schemes with single payment," Chief Executive, Reliance Capital AMC, Sundeep Sikka said, adding investors can start investing in multiple schemes with a minimum of Rs 6,000 by way of SIP.

The company, which is the part of Reliance Capital, intends to sell 1 lakh portfolios in the next six months and is hopeful of raising Rs 1,000 crore in the first year of launch.

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