Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Yearly Interval Fund - Series 1, an open ended income scheme. The NFO opens for subscription on January 15, 2013 and closes on January 21, 2013. No entry load will be applicable for the scheme; exit load during Specified Transaction Period and other than Specified Transaction Period will not be applicable.

The minimum subscription amount is INR 5,000 and multiples of INR 1 thereafter. The investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of the following securities which are maturing on or before the next specified transaction date of the scheme with the objective of limiting interest rate volatility - Central and State Government securities and other fixed income/debt securities.