Alliance MF offers 3 schemes

Alliance MF offers 3 schemes
ENS ECONOMIC BUREAU

MUMBAI, DECEMBER 13: Alliance Capital Mutual Fund, one of the leading private sector mutual funds in the country, has launched the Alliance Sector Series, a family of three multi-sector equity schemes. The three open-ended schemes Alliance Basic Industries Fund, Alliance Buy India Fund and Alliance New Millennium Fund are growth schemes which will be invested primarily in equity for investors seeking long-term capital appreciation.

The initial offer opens for subscription on December 15, 1999 and closes on January 15, 2000. The minimum subscription for each scheme is Rs 5,000 and in multiples of Rs 1,000 thereafter.

Announcing the new schemes at a press conference here today, Samir Arora, Head-Asia Emerging Markets at Alliance Capital, said Alliance Basic Industries Fund will focus on investing in companies in basic industries spanning from automobiles to cement, construction to metals, capital goods to petrochemicals, steel to paper.

Alliance Buy India Fund scheme will primarily focus on companies inthe consumer and healthcare sector. ``Sub-sectors would include personal care, food, beverages and tobacco, media retail, pharmaceutical, consumer durables and other healthcare.