Religare Monthly Income Plan (MIP) Plus
Religare MIP Plus is the latest MIP plan and open ended income scheme to hit the Indian Mutual Funds scene but the only difference here being that this seems to be the India’s first monthly income plan with gold. Yes, you heard it right; your investment will be based upon purely gold investments. And it is indeed the first of its kind MIP in India and unique one when it comes to investment portfolio offered to the investors via Gold ETF. This is the new fund offer (NFO) from the house of Religare and it is open till May 11, 2010.
Religare MIP Plus helps you as an investor by combining all three classes into one, namely equity, debt and gold (via gold ETFs). Since the gold is involved here the returns may be as good as investing in real gold itself here. Religare Monthly Income Plan Plus is just like any other regular MIP Plan but the only difference being gold ETF too is involved in helping your investment to get the extra mileage that it deserves.
Introduction: There are in fact 2 fund managers for this specific fund namely Mr. Ashish Nigam for gold ETF and debt while Mr. Vetri Subramaniam for equity investments.
Asset Allocation: Nearly 65% in debt instruments, 25% in equities and 10% in gold ETFs.
Objective: To generate an income from the portfolio mix of debt, gold ETF and equities based instruments.
Options Available: Growth and dividend payout and re-investment.
Minimum Investment: Rs. 5000 and in multiples of Rs. 1 and above.
Entry and Exit Load: No entry load and 1% exit load if withdrawn within 1 year.
Benefits of Religare MIP Plus:
Just to diversify your portfolio and to add gold to it by way investing it via mutual fund route and thus you get the triple benefit of investing in equities, debt and gold via a single instrument and earn regular income via the same. Since there is an assurance of at least 10% in Gold ETFs there is some stability assured to the investment as gold has never let us down for quite some time now in terms of investment so far.
The NFO of Religare MIP Plus closes on May 11, 2010 and the unit value during NFO is as usual Rs. 10.
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Comments
Hi Shiva,
Thanks for posting details of Religare’s MIP Plus Fund.
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Pure Gold ETF is not an easy investment option due to the volatile currency situation which can test your skill.
Pure Equity will always carry the ‘volatility risk’ and test your patience as well.
Here’s where a Fund Manager’s skill will come into play. He will tilt his investment towards the Best Asset Class depending on the situation and with Gold too as an option, Religare MIP Plus is a “good investment choice” for the equity-averse investor, as this Fund has the potential to add value in varying market conditions.