Reliance Mutual Fund (RMF) announced Further Fund Offer 3 (FFO3) of its Central Public Sector Enterprises - Exchange Traded Fund (CPSE ETF). RMF plans to raise up to Rs 14,000 crore in FFO3, which includes a base amount of Rs 8,000 crore. The fund is part of the government's overall disinvestment programme, announced earlier, using the exchange traded fund.
Reliance Mutual Fund to raise 14k cr in Further Fund Offer 3
“We feel confident that the timing of the issue will help investors benefit from their exposure in a diversified basket like CPSE ETF that includes a list of PSUs who are leaders in their respective sectors,” Reliance Nippon Life Asset Management's executive director and CEO, Sundeep Sikka said. The fund offers an opportunity for investors, especially retail and retirement funds, to invest in the country's growth story at an attractive valuation, low expense and embedded discounts, he said.