Recently, a subsidiary of Reliance Capital Asset Management has announced to launch two Islamic funds in Malaysia by July. It will roll out products for retail investors in two years.About the Reliance Capital Islamic Funds, economictimes.indiatimes.com writes, “Reliance, India's largest asset management company, will launch a fund investing in Indian stocks next week and a quantitative global equity fund investing in the US, Europe and Asia in July. Both funds would be managed out of Malaysia.”Vikrant Gugnani who is the Reliance Capital's international businesses CEO said to ET, “The long-term objective is to target the retail sharia market in the region. We believe the retail story in Malaysia has yet to unfold and we want to be positioned well before to take advantage of (it).”Reliance Capital Asset Management is the...
ICICI Prudential Nifty Junior Index Fund Launched
Recently, ICICI Prudential AMC announced the launch of Nifty Junior Index Fund. It is an open-ended index fund that allows users to invest in companies whose securities are included in Nifty Junior Index.The New Fund Offer opens from June 10. It will end on June 21. It is declared in a statement by the company.The fund is being considered as the country's first open-ended index fund to track CNX Nifty Junior.About the ICICI Prudential Nifty Junior Index Fund economictimes.indiatimes.com, an online news portal about news and economy says, “Mutual fund major, ICICI Prudential AMC launched its ICICI Prudential Nifty Junior Index Fund, an open-ended index fund that will invest in companies whose securities are included in Nifty Junior Index.”So, it is an open-ended index fund. You are able to invest in companies whose securities...
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