Reliance Mutual Fund has seeked approval from the Securities and Exchange Board of India’s (SEBI), to launch Reliance Junior BeES fund of funds (FoF) schemes.

Its an open-ended fund of funds scheme, that will deploy up to 90% of its assets in units issued by Reliance ETF Junior BeES, and the remaining in reverse repo, collateralised borrowing and lending obligations, short-term fixed deposits, and schemes which invest predominantly in money market securities or liquid schemes.

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