npavan78
18-06-2008, 07:41 AM
Reliance MF on June 17 said that it would currently focus on interest-neutral sectors in the current market conditions. It also disclosed that it has applied to Sebi to increase limits for overseas investments. The AMC has a cautious view on markets in the short term, expecting crude oil and inflation determining the market direction. Its cash levels stand at 22-23% across equity schemes. Its Natural Resources Fund, which raised $1.6 billion, is sitting on even higher levels of cash, at 40%. But Reliance MF pointed out that it is seeing no redemption pressures and is still seeing inflows through SIPs and diversified funds.