Equity Tax and Adam Smith Essay - 2030 Words

Introduction This piece of eassy will contain two sections. In this part of the eassy I will discuss the meaning and importance of equity in taxation since Adam Smith included it as one of the Canons of taxation. Equity is defined as â€Å"redistributive taxation induces allocative distortions by driving a wedge between the price the consumer pays and the price the producer receives† (Begg et al. 2005, p.219). There are two types of equity to be considered: the horizontal equity, and vertical equity. â€Å"The horizontal equity requires that people in similar situations should be treated in the similar way†. (Kate. 2003, p-8). It seems to be a fair version of taxation to the people paying tax on their earnings. On the other hand, â€Å"Vertical†¦show more content†¦Adam Smiths discussion of taxation in the Wealth of Nations became, like the rest of his work, Ð ° classic setting the central focus for economic thought from that point on. And, like the rest of the work, it was Ð ° confused mixture of the banal and the fallacious. Thus, Smith set forth four canons of evident justice and utility in taxation, which were to become famous from then on. In my analysis of Adam Smiths chapter on taxation, I have come to the conclusion that Adam Smith believed that the taxation of the rental value of land was the best and fairest method of taxation. Introduction This section of the eassy will address the Consideration to what extent the current taxation system reflects the concept of equity. Before dealing with the theory of Consideration to what extent the current taxation system reflects the concept of equity, there are two areas which I will discuss, the first of these concerns the definition of taxation and the second covers the purpose of taxation. Taxation is an involuntary fee paid by either individuals or businesses to the government .While the purpose of taxation is the need to pay for national expenditure on, for example defence, government administration and interest on government borrowing and for local expenditure such as for local services, health, education, welfare and interest on loans. The UK Tax system Modern UK tax policy was developed since 18th century, it researched by the hugeShow MoreRelatedThe Canons Of Good Taxation Essay1464 Words   |  6 PagesCanons of good taxation refer to Adam Smith’s study illustrated in the book ‘Wealth of Nations’. The canons consist of equity, certainty, convenience and efficiency are used to determine the effectiveness of a tax system. This report will critically analyse these canons in relation to the recent bright-line test announced by the government. The bright-line test seeks to improve upon the intention test under ss CB 6-CB 15 by proposing income tax on gains received from disposal of residential propertyRead MoreTax Assessment And Its Effects On Today s Taxation Policy Essay1663 Words   |  7 Pages Tax assessment has always been a hotly debated issue in economic. We all know that it costs a lot to run a household. In the same sense, it costs a lot of money for a government to run a country. This is why t axation is necessary. Through taxation, a government can compensate their spending and fund the social services that benefit most of the society. High tax can compensate the government spending while may curb investment. A question always being raised is that how to impose an appropriateRead MoreClassical and Neoclassical Economists: Adam Smith and John Maynard Keynes1289 Words   |  6 Pageseconomics. For this essay I will only refer to the classical economists and the neoclassical economists. The two most influential economists that helped to shape our economy with their thoughts and theories that are still used in modern economy are Adam Smith a classical economist and John Maynard Keynes a neoclassical economist. These two economists are the most famous economists of all times. Even though that its known that their thoughts are opposites to one and other they also share some similaritiesRead MoreTaxation And Its Effect On Economic Activities1687 Words   |  7 PagesTaxation  plays  an  essential  role  in  our  daily  life.  The tax is compulsory levy from the government used to provide service and benefits to society which nothing will be return received directly.This  essay  attempts  to  explain  how  to  create  a  good  tax  system  or  the  characteristics  of  a  good  tax  system,  and  the  challenges  the  policy  maker  might  face.  The  study  of  the  tax  policy  is  concerned  with  the  design  of  a  tax  system  that  is  capable  of  financing  the  necessary  level  of  public  spending  in  the  most  efficient  and  equitable  way  possibleRead MoreAllied Products Assignment822 Words   |  4 Pagesbeginning this year and Allied Products expects it to stay on the market for a total of five years. 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The two most important tax policies are theRead MoreInformation on Laissez-faire and Court Injuction603 Words   |  2 Pagesof commerce.† â€Å"Leave it alone† The concept came from the economic theories of Adam Smith, the 18th-century Scot whose writings greatly i nfluenced the growth of American capitalism. Smith believed that private interests should have a free rein. As long as markets were free and competitive, he said, the actions of private individuals, motivated by self-interest, would work together for the greater good of society. Smith did favor some forms of government intervention, mainly to establish the groundRead MoreUk Tax Reform3661 Words   |  15 Pagesin this paper that even where every one agrees that the tax system should be simple as dictated by the first maxim of Adam Smith, no country is yet to meet this standard. Questions on policy, complexity, equity, administrative efficiency, cost of compliance all increasing the cry for a tax change. Many Eastern Europeans have adopted the flax tax system and presently has an increase economic growth. However, are they fully operating the flax tax system? INTRODUCTION Taxation is a levy or a chargeRead MoreThe East India Company s Practice Of Mercantilism Essay2107 Words   |  9 Pagesnot to mention the most outspoken, of these being Adam Smith. He opposed the East India Company’s practice of mercantilism as he believed that it took away many of the liberties of man and only benefited the select group of people who were in the upper classes of society. Adam Smith believed strongly in the idea of â€Å"Laissez Faire† economics- in other words he believed that the government should simply leave free enterprise to shift for itself. To Smith, the East India Company represented everythingRead MoreShareholder Theory Or Stakeholder Theory1325 Words   |  6 Pagesprofitable, the whole society may indirectly benefit from it. As the companies grow larger, they spontaneously need to hire more people and thus create more job opportunities. Moreover, they will also pay more tax as they earn more money, which is beneficial for reallocation of wealth and social equity. Most of all, businesses themselves are sometimes the best gifts to the society. For example, I don’t really care about how much money Microsoft donates to charity, but I do appreciate that it makes personal

Causes And Effect Of Google Penalty - 2135 Words

Causes of your Google penalty In our previous article â€Å"Identifying a Google Penalty†, we gave you the information needed to tell if you’d been hit by a search engine penalty as well as the tools to establish just what type of Google penalty your website had been hit with. Now you’ve established just what Google penalty you’re dealing with, it’s time to move on and find out what exactly caused it. Once you get to the root of what caused it, you’ll then be able to fix it. If you’ve suffered a manual Google penalty then you may well receive a message within your Webmaster tools or better yet, an email direct to your inbox giving you ideas on how you might improve your chances. If your website has a bad link profile then you might see a warning page within your â€Å"manual actions† page on the webmaster tools stating that you have unnatural links to your website. If the cause is due to your content however then you’ll see a comment stating that you have content with little or minimal added value. If you’re suffering from an algorithmic penalty however and are yet to hear from Google, then chances are you won’t be getting any help from Google in figuring out what it is exactly. You’ll be pleased to know that it doesn’t matter what state your website is in, there will always be room for improvement and this article is going to look at a rather comprehensive list of potential Google penalty offences. We won ’t be going through every known factor as some factors will only ever affectShow MoreRelatedThe Plague Of The Bubonic Plague825 Words   |  4 PagesThe Plague Discussion Questions The Black Death was an epizootic bubonic plague, a disease caused by the bacterium of rodents known as Yersinia pestis. The bubonic plague overwhelming effects of European history. 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People tend to want to take the easiest, fastest way to communicate, insteadRead MoreSearch Engine Optimization ( Seo )1515 Words   |  7 PagesSEO can be used to optimize the content on a website by evaluating on what content is being searched by users. This can be done by editing the HTML code, usage of relevant keywords and appropriate links boost the site traffic from search engines. Google is the major player when it comes to search engine traffic. It is responsible for more than half of the website traffic followed by yahoo and others. High intent traffic is very important when we are competing in a niche market. For example, whenRead MoreI.(Grabber) Guns Kill About 33.000 People Per Year In The1208 Words   |  5 PagesI. (grabber) Guns kill about 33.000 people per year in the United States, and 22,000 deaths are suicides while 11,000 are homicides. Guns also cause indiscriminate murders, mass shootings and other gun deaths related to America. While the Congress has imposed regulations to counter assault weapons, they have not properly prohibited individuals from getting guns. It remains clearly that despite the efforts to close the loopholes of gun control, handguns still are highly responsible for most killingsRead MoreTerrorism During The Vietnam War826 Words   |  4 Pagestarget Vietnamese embassies. However, high levels of security allowed Vietnamese a mbassadors to survive and prevented casualty occurrences. In 2015, terrorism or terror-related activities were the 6th and 7th top Google searches in Vietnam, indicating the general population’s concern on the effects of terrorism. Vietnam realizes the impact of terrorism and the threat it poses to the world. The U.N. has instated in 14 instruments and 4 amendments about terrorism. After the September 11th attacks on theRead MoreShould College Students Use Technology Into Their Life?1453 Words   |  6 Pagesaware of the dangers this dependency can cause as well as limiting themselves. Nearby colleges and the Police Departments around them can help support this change as well. Breaking this habit will improve their social skills, improve their health and change their ability to be more self-sufficient. The health problems that come with constantly being on a digital device can be minimal, but can also lead to severe issues. One of the most common side effects is called Computer Vision Syndrome, alsoRead MoreThe American Court System And Criminal Justice System1750 Words   |  7 Pagesguilty, is punishing both the innocent and the guilty. It is estimated â€Å"that between 2.3% and 5% of all prisoners in the U.S. are innocent† (â€Å"How many innocent people are there in prison†). According to the National Coalition to Abolish the Death Penalty, there have been 156 people who were sentenced to death that have been exonerated of their crimes between 1973 and October of 2015. That means one of every ten individuals on death row are innocent (â€Å"Innocence†). These people sit on death row forRead MoreAirline And Trucking Fleet : Ups1047 Words   |  5 Pagesand aviation laws to environmental and transportation laws. UPS is also subject to international tariffs , trade duties, and export regulations because its supply chain is global. Not following these regulations can result in significant fines and penalties. Supply Chain Security: UPS is exposed to both physical and digital attacks that can harm its business operations. Increased awareness of global terrorism and homeland security has increased supply chain costs to deter and limit areas of attack

Productive and Counterproductive Behavior Free Essays

Productive and Counterproductive Behaviors An organization will have employees with one of two behavior types. They can either be productive or counterproductive. The root cause of counterproductive behavior can be rooted in employee turnover, attendance issues, or lack of training. We will write a custom essay sample on Productive and Counterproductive Behavior or any similar topic only for you Order Now It is up to the organization to make an attempt to identify what the causes of their employees’ counterproductive behavior and attempt to find a workable solution. Productive Behavior and its Impact on an Organization Employers want productive behavior out of their employees because productive employees create revenue for the organization. However, employees tend to think just because they are doing â€Å"something† and not idle they are being productive. Their way of thinking would be incorrect. Productive behavior is â€Å"employee behavior that contributes positively to the goals and objectives of the organization† (Jex Britt, 2008). As we can see merely doing something to occupy ones time is not being productive. Whether or not an employee is being productive can be measured by the cost associated with the employee’s performance and how effective they are. For example, there are two employees in a shoe store with similar sales figures and they sell the same number of shoes each month. The only difference in these two employees is that employee A works ten hours per day and employee B works a six-hour day. Employee B is the more productive employee because employee B accomplishes the same goal in fewer hours. There is a lower cost associated with employee B making him the more productive employee. Efficient employees are productive because they complete large amount of work in a short period of time. When employees are being productive they are concentrating on performing â€Å"core tasks† (Jex Britt, 2008) and are bringing in revenue for the organization. An organization with productive employees will see less employee absences and in their turnover rate. Counterproductive Behavior Counterproductive behavior is â€Å"behavior that explicitly runs counter to the goals of an organization† (Jex Britt, 2008). Employees who are counterprodtive may be employees who have issues with absenteeism or frequently tardy, substance abuse, they may steal from the employer, or simply have â€Å"ineffective job performance† (Jex Britt, 2008). Any behavior that prevents an employee from conducting their job and producing for the employer is considered counterproductive. An Employee who take all day to complete a task because they are there all day and getting paid by the hour is an employee that is counterproductive. Another behavior that is counterproductive is an employee that uses unsafe practices at work. By not following safety rules employees can cause an injury to themselves or to another causing the employee to miss work. As previously stated, absenteeism is a counterproductive behavior. Strategies to Increase Productive Behavior To increase productive behavior in an organization and decrease counterproductive behavior an organization must investigate the cause. Sometimes the reason an employee is counterproductive are out of the employees’ control. For situations that are within the employees’ control, the organization must clearly outline their expectations for their employees. An organization must also outline the consequences for such negative behavior. Drug and alcohol testing and an attendance guidelines policy can be established. These policies will let the employee know what is expected of them and the consequences for not complying. The organization should also make efforts to understand why their employees are not coming to work (Associated Content, 2007). There are times when a personal issue can have its affect on an employees’ behavior. An organization can begin an employee assistance program that would offer counseling to employees if such a program were within the organizations budget. Lack of training and the appropriate tools for performing necessary job functions are factors that are out of the employees’ control. The organization needs to ensure all of their employees have all the proper tools. They can easily do a visual survey and question employees asking them what tools they could use to better perform their job function. Organizations must also ensure all of their employees have the proper training. If employees are not adequately trained they do not know how to perform their job functions. Organizations must adequately train or retrain if necessary any and all employees that require training. At times performing follow up training with all employees ensures employees are all on the same page as far as what their specific job functions are. Performance appraisals also need to be performed on all employees in order for them to know how they are performing in according with their job expectations. These performance appraisals will also serve as a tool to help the employee improve their performance and productivity. A performance appraisal should also be used to praise employees and let them know what they are doing that makes a positive impact on the organization (hrVillage, n. d. ). Both of productive and counterproductive behaviors have their impact on an organization. There are a number of reasons an employee can be counterproductive. Once the root cause has been identified an organization can begin to turn the counterproductive behavior into productive behavior. References Associated Content. (2007). Call Centers: 6 Steps to Improving Employee Attendance and Performance. Retrieved, March 29, 2010, from http://www. associatedcontent. com/article/189770/call_centers_6_steps_to_improving_employee. html? cat=31 hrVillage. (n. d. ). Employee Productivity. Retrieved, March 29, 2010, from http://www. hrvillage. com/human-resources/employee-productivity. htm Jex, S. M. Britt, T. W. (2008). Organizational psychology: A scientist-practitioner approach, 2nd ed. New Jersey: John Wiley and sons. How to cite Productive and Counterproductive Behavior, Papers

International Business Theories of Absolute and Comparative Advantage

Question: Discuss about the case study International Business for Theories of Absolute and Comparative Advantage. Answer: Differentiation between theories of absolute advantage and comparative advantage: The difference in productivity of nation is referred as an absolute advantage, while the difference in opportunity cost is known as comparative advantage. It can be also said that with the existence of a comparative advantage both the parties get benefit from trading , as goods will be received by each party at a price less than the opportunity cost of producing that product. On the other hand, the productivity of various producers or economy is compared by Absolute Advantage. In case small quantity input is required by the producer for a good than it is said that the producer is having an absolute advantage regarding theory (Levchenko, and Zhang, 2016). Further, comparative advantage assists the country to specialise in the production of goods for which they have lower opportunity cost which leads to increased production. These two theories are the important concept of international trade which persuades the manner and reason of devoting limited resources to the production of particular products. Applicability of theory of competitive advantage The above phrase describes a circumstance concerning the loss of jobs or fear of loss of jobs, particularly by one nation to a rival. According to the theory of comparative advantage, the decision of export will be dependent on the degree of productivity. Hence the products for which company is more relative productive will be exported and import will be done of those goods in which other nations are relatively more productive (Burchill, Reus-Smit and True, 2013). Since the wage rate is lower in Mexico than the US, Perot had a view that Mexico will be chosen by American companies for construction of plants for their product as the wage rate lower to take advantage of cheaper rate of wages. This move can be taken by the companies who can work with low skill labour of Mexico and not by the other companies. The fear is correct to a certain extent as the Mexican government offers tax benefits and low-cost loan to companies building factories in Mexico and as their wage rate is already lower from other countries. The factors to be considered by Hyundai in selecting Alabama as the site for the factory are price advantage and location advantage. As by constructing automobile assembly unit near Alabama, the company will get the advantage of receiving required in cost effective manner. The price advantage can also be attained as lower wage rate is present there. Since the cost of labour is lower in Alabama it would be beneficial for the company and support in improving the quality of life of people there out will be given by offering them jobs. But due to the increased manufacturing of car increase in the amount of pollution which will harm the environment. Dunnings electric theory advice for foreign direct investment when a foreign country is superior to its own when ownership advantage is available to firm which can be used for making monopolistic profits and when a lower rate of production is available. In the present case as the cheap wage rate is available in the foreign market and therefore it has been chosen for production. Hence, Hyundais decision is consistent with Dunnings electric theory. Differences between a fixed exchange rate system and a flexible exchange rate system The fixed exchange rate is a rate predetermined by the government and not by market forces. In this rate a small change from fixed value is possible. As against it, Flexible Exchange Rate System is a system which determined by demand and supply forces of foreign exchange market. In this system value of the currency is allowed to fluctuate according to change in market forces (Arndt, 2013). The main advantage of Fixed Exchange Rate System is that it prevents speculation in foreign exchange market whereas in Flexible Exchange Rate System, encourages speculation and enable fluctuation in foreign exchange rate. The demerit of flexible exchange rate system, that it generates inflation pressure when the value of imports goes up due to the decline of currency which is not present in fixed exchange rate system. Conditions for devaluation of currency rate The value of a currency is determined by ascertaining how much of other currency can be brought in one unit of home currency. The reduction in value of a currency against another currency is called devaluation. Government intervention in foreign is a reason of official devaluation. The other situations which lead to devaluation of currency are depreciation i.e. when currency rate fluctuates downwards. Devaluation can be said as a decline in country living standard. Recession can also be said as a factor which leads devaluation in currency (Bhalla, 2012). In the above situation, the country needs to motivate business and trade hence, the devaluation of currency is done in order to encourage people to buy goods of their country. In an open market, it is considered that devaluation may lead speculators to sell their currency in an exchange with own country foreign reserves, due to this issuing country has to make actual devaluation. The circumstances under which a country might want to increase its currencys value It can be said that currencies are like commodities which are used either for speculation or for investment purpose. The increase and decrease in value of the currency are because of rising and fall in basic supply and demand. In the case when demand exceeds the supply is a situation when the value of the currency is increased. The increase in interest rate of central bank gives arises to a situation when currency value might be increased by the government (Ashton and Christophers, 2015). Thus, this induces public in acquiring that currency to deposit more money in the bank for earning higher interest rate, with this procedure central bank effectively decreases the supply of money and as far as the demand of currency is high the value will continue increasing. With the increase in employment and per capita income, circumstances arise under which a country might want to increase its currency rate. Determination of prices in foreign exchange market There is no particular formula for determining currency exchange rate but certain parameters and determinants are available which are described here: Beside market forces of demand and supply, the other factors which affect the valuation of rate are speculation, RBI Intervention, Imports and Exports and Interest rates. The exchange rate is determined by the analysing effect of all these factors (Andersen, Diebold and Vega, 2007). The determinants of exchange rate are International parity conditions (relative purchasing power parity), Balance of payment model (focused on tradable goods), Asset market model (focused on assets value). The economic factors including economy policy circulated by government authorities economic conditions which are revealed through economic report are determinants which are to be analysed while determining the exchange rate. Arbitrage activities that affect the foreign exchange market Arbitrage is a methodology in which currency is purchased from one market and immediate resale of currency is being done in another market in order to make a profit from price difference in the two markets. Arbitrage is used for hedging by speculators. The various types of arbitrage methods are purchase parity theorem, two-point arbitrage (geographic arbitrage) which allows a trader to capitalise difference of two currency prices, three-point arbitrage which involves selling and buying of three different currencies. Covered Interest arbitrage allows a trader to capitalise geographical interest rate differentials with risk mitigation (Andersen, Diebold and Vega, 2007). The risk is eliminated by covering exchange rate exposure in the forward market. Facts of question Spot pound and the 90-day forward pound are both selling for $1.65 US interest rate 10 percent British interest rate 6 percent. Impact on Spot price of pound, Interest rate of UK and Interest rate of US is as follows: In the present case Interest rate of US is higher than British interest rate hence, the arbitrageurs will convert pound to dollar and will take advantage of higher interest rate. The increasing demand of dollar will scroll down the price of pound. In the cited situation, due to lower interest rate the pound will be trade at the forward premium against the dollar. This approach will provide recommendation that 90-day rate of forward contract will be increased. Conclusion of entire situation will be that interest in UK will be increased and simultaneously interest rate of US will be reduced. Table 1: Impact on Spot price of pound, Interest rate of UK and Interest rate of US is as follows Factor Impact Spot price of pound Spot price will be down Interest rate of UK Increased Interest rate of US Decreased References Andersen, T.G., Diebold, F.X. and Vega, C., 2007. Real-time price discovery in global stock, bond and foreign exchange markets. Journal of international Economics. 73(2). Pp.251-277. Arndt, H.W., 2013. The valuation effect of changes in exchange rates. PSL Quarterly Review. 41(167). Ashton, P. and Christophers, B., 2015. On arbitration, arbitrage and arbitrariness in financial markets and their governance: Unpacking LIBOR and the LIBOR scandal. Economy and Society. 44(2). Pp.188-217. Bhalla, S.S., 2012. Devaluing to Prosperity: Misaligned Currencies and Their Growth Consequence. Peterson Institute. Burchill, S., Reus-Smit, C. and True, J., 2013. Theories of international relations. Palgrave Macmillan. Levchenko, A.A. and Zhang, J., 2016. The evolution of comparative advantage: Measurement and welfare implications. Journal of Monetary Economics. 78. Pp.96-111.

Star Wars Sci Fi Essay Example For Students

Star Wars Sci Fi Essay Paragraph one Audio and technical codes are used to convey the element of science fiction, through the use of unusual characters. This can be shown through the way the camera looks at the character to show power and vulnerability, For example when 23RD is hiding from the sand people they take a close up of him. This shows that he is vulnerable as the sand people might take him otherwise. Another example of technical codes would be when there is a low angle taken of when a sand person is on a banana. This shows that the sand people are powerful. We will write a custom essay on Star Wars Sci Fi specifically for you for only $16.38 $13.9/page Order now An example of when audio codes are used is when the sand people peak their different language This is used to make the viewer unfamiliar with the character and think of them as foreign. Another example of audio is the tribal music, to show that the sand people are coming and make the viewer aware of their presence. These examples of film codes in this scene help to convey this element Of science fiction. Paragraph 2 through the use of unusual settings. This can be shown through the use of audio one way would be the sound effects. For example when serpent is lurking in the water in the trash contractor. This helps to create suspense for the viewer, s they dont know what is going to happen. Another example when the trash contractor is shutting, this sound effect helps to create anxiety and worry for the viewer as they wait to see what happens. Technical is another code that is used in this scene to help show the science fiction element of unusual setting. This can be seen when there is a close up to Han solos tee in the water. This shows the viewer that the group are vulnerable and creates suspense for the viewer, Another example of a technical code would be when there is a long shot of the rash contractor closing in on Han Solo, Chewable, princess Leila and Luke, This is example of a technical code shows the viewer that they are in trouble and creates a feeling of anxiety. All of these examples of film codes help to convey the particular element of science fiction. Paragraph 3 Symbolic and Audio codes are used throughout the scene to convey the element Of science fiction through the use Of good vs.. Evil. An example Of a symbolic code would be how Dearth Evaders lightfaces is red and Obi Wan Kenos in Blue. This symbolizes that Dearth Evader is evil and Obi Wan Kenton is good. Another example off symbolic code can be shown when Dearth Evader kills Obi Wan and all that is left is Obis coat and Dearth Evader stomps on it. This symbolizes Obi Wan Kenos power, An Example of an audio code can be shown when there is silence in the movie and alloy can hear is the lighteners. This creates suspense for the viewer as well as making them anxious. Another example of an audio code is shown when Luke says no when Obi Wan Kenton dies. This shows that Luke cares for him and makes the viewer feel as if it wont be the same with out him, All of these examples of film codes help to convey the science fiction element of Good vs.. Evil, Conclusion In conclusion film codes are used throughout the movie to convey the elements of science fiction. The elements of science fiction are portrayed by different films codes and can be seen particularly in Symbolic, audio and technical codes.

Self Analysis of Personal Work Experience Essays

Self Analysis of Personal Work Experience Essays Self Analysis of Personal Work Experience Essay Self Analysis of Personal Work Experience Essay Self Analysis of Personal Work Experience During the past years of work experience personal observation and this current self analysis I do have identified my primary self-identified weakens is fear of public speaking. I cant seem to communicate fully the ideas I am actively thinking due to anxiety about how people will Judge my speaking ability. According to Laskowski(2011) improving your public speaking and communication skills increases your self-confidence, but studies have revealed an additional benefit: Professionals with good communication skills are promoted more often and faster within their Job nvironment So it is important that I practise the art of addressing an audience effectively to overcome the fear of public speaking Other Self-identified weakness is I believe is I do lack a bit personal competency on system documentation. According to Brewer (2006, p. 65) every business objective, statement of need, or business driver to be supported by the information technology system must be documented. As an entitys business operations evolve over time, changes in the systems architecture will have to be made. An advantage of having sufficient systems architecture ocumentation is that it accelerates the process of updating or improving applications and hardware to meet changing business needs. It is important for me to prepare well documented and up to date operation manual and use it as a tool to ensure consistent delivery of finest product or service The self-awareness only makes it possible to create a better communication and influence others. According to www. cipd. co. uk (2013)Continuous Professional Development (CPD) is an investment that you make in yourself. Its a way of planning our development that links learning directly to practice. Continuous professional development process is valuable for the manager to update themselves. It can also call as a method of relentlessly updating personal skills and knowledge. According to alle (1997,p. 139) the edifice of knowledge is a continual growing ,living, breathing process. As a manager it will be very essential thing for me to update my CPD knowledge by attending seminars, conferences, tutorials etc. Furthermore it is called known as a part time life long process which improves our managerial skill

Saturn Corporation Case Study Research Paper Example | Topics and Well Written Essays - 4500 words

Saturn Corporation Case Study - Research Paper Example ugh Saturn Corporation employs a number of robust and innovative processes in the outbound transportation systems, yet, there may be several challenges faced by the company with respect to the choice of the outbound transportation methods. Cost control is a main objective of any business. Saturn Corporation faces the issue of cost control in choosing the outbound transportation provider. Ideally, low cost modes of transportation are chosen by Saturn Corporation because the costs associated with the transportation segment have huge impacts on the total purchase prices of the company which may be carried forward to the customers in the form of destination charges. The damage rate of the goods in the different modes of outbound transportation is another major factor for consideration in this company. Prevention of damage is considered to be of more importance that the rectification of damages in the automotive industry. The level of training imparted to the employees in the outbound tra nsportation service providers is a critical factor. The handling, loading and unloading of the goods are phases in which maximum damages to the products occur. As such, the training level and skills of the employees of the transportation service providers should be considered so as to minimize the rate of damage in the products. Shipment tracking facilities, equipment utilization and capacity of the outbound service providers are other critical factors that should be considered by Saturn Corporation while choosing the appropriate outbound logistics service provider. The capacity of the transportation service providers is also significant to increase the inventory turnover rate of Saturn Corporation. An increase in the inventory turnover rates is an important objective for any automaker. This can be achieved through the employment of dealers with multiple loading capabilities. A suitable combination of the available outbound transportation services is to be considered to improve the

Marketing strategy Essay Example | Topics and Well Written Essays - 3000 words

Marketing strategy - Essay Example The pharmaceutical industry is highly concentrated and only a few companies are doing well in the industry. The main aim of this study is to analyze the marketing strategies adopted by GlaxoSmithKline Plc; a London based pharmaceutical company (Chaffey et al., 2008). The study would also analyze the factors affecting the marketing strategies implemented by GlaxoSmithKline Plc. Since, the company is a UK based company it would also analyze its strategic position in UK as well as in other countries. An analysis of the marketing mix of the company would help in highlighting the key elements of the marketing strategies adopted by the company (Zhou et al., 2010). Introduction Medicines form an integral part of a human’s life because the discovery and invention of medicines have improved the health and quality of life of human beings. The consumption of drugs has increased rapidly. Every year, around 650 million prescriptions are written by the General practitioners alone in UK (Hou se of Commons, 2005). The National Health Service, UK sells medicines worth ?7 billion annually and 80 percent of which is spent on branded products. In UK, it is the most profitable sector after Tourism and Finance. USA has the largest pharmaceutical market and most of the research and development of leading pharmaceutical companies is done in USA itself. UK accounts for 10 percent of the global research and development expenditure. The medical products manufactured by the companies have not only improved the health of the people but has also reduced the need of surgical operations to a large extent (House of Commons, 2005). One of the leading pharmaceutical companies in the world is GlaxoSmithKline Plc, a company which produces effective medicinal drugs for various diseases. It also has a separate healthcare division which produces popular oral healthcare and nutritional products like Sensodyne, Horlicks, Lucozade, Boost, and Gaviscon. The company sells prescription medicines and over the counter medicines. Most of the company’s revenue is generated from the healthcare product divisions which include toothpaste and energy drinks. The company’s top selling prescription medicine includes Avandia and Paxil which are anti depressant pills (GlaxoSmithKline Plc, 2013a). The company believes in complying with the national health guidelines of UK and providing beneficial treatment to the medicine users. Currently, the pharmaceutical industry is facing a number of challenges like slow economic recovery, high cost of development of drugs and stricter health regulations imposed by government etc. Pfizer, a leading pharmaceutical company of the world has announced plan to close down its research and development wing in UK to curb down operational costs (Gallagher, 2012). GlaxoSmithKline Plc had been witnessing a steady growth even amidst this economic slowdown. In the year 2012, the company spent ?4 billion dollars in the research and development of new me dicines, consumer products and new medicines (GlaxoSmithKline Plc, 2013b). Most of the company’s revenue comes from the USA because the sale of prescription drugs is a subject to price control policies of the respective country. The USA is the only industrialized nation where there is no price control

Ethics Physical Privacy Burlington Northern Railway case 3 Essay

Ethics Physical Privacy Burlington Northern Railway case 3 - Essay Example Also the use of newer and more innovative technology and equipments, and also services has caused the company to be better recognised. Also the efficiency in usage of the energy and cost of savings and speed has grown the company and has built a history as big as the west. The company has been accused for testing its employees for genetic tests. These tests have been taken without the knowledge of the workers and the test have mainly been undertaken to ensure that the workers do not have any genetic defects. This is a very incorrect step that has been undertaken by the company and it is accounts for actions that are unlawful and also pushes the company into committing the mistake of discriminating the employees based on the disabilities or even unnecessarily. These steps that have been undertaken by the company has cost the company a lot of money to be paid out as compensation to the employees. It is to be noted that the employees who became a part of this and had been victimised, were given a compensation of $2.2 Million to settle the charges of illegally testing the workers for the genetic defects in the case of the government against workplace DNA discrimination. This company is one of the biggest railroad companies in the country and the company h as denied the violation of the law which turned the company to create a new milestone in the world of medical privacy. Also it has created a mark in the DNA based job discrimination. The company has violated the law and has also caused to breach the rules of the U.S. Equal Employment Opportunity Commission. Burlington Northern railways have been charged by the EEOC for testing thirty six employees without their knowledge for a specific genetic disorder. This was majorly done for the people working on the tracks to ensure that they did not have carpal tunnel syndrome. The tests have been conducted along with the comprehensive diagnostic exam of the employees. Also a few of the

Reliance Mutual Fund (RMF)

Reliance Mutual Fund (RMF) INTRODUCTION OF RELIANCE MUTUAL FUND Overview Reliance Mutual Fund (RMF) is one of Indias leading Mutual Funds, with Average Assets Under Management (AAUM) of Rs. 1,22,252 CRORES and an investor base of over 72.40 Lacs. (AAUM and investor count as of November 2009) For its 7.3 million investors, RMF offers a well-rounded portfolio of products that meet varying requirements. They are served from offices across 226 locations in India, offices in Dubai, Singapore, Mauritius and UK Reliance Mutual Fund, a part of the Reliance Anil Dhirubhai Ambani Group, is one of the fastest growing mutual funds in the country. RMF offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 118 cities across the country. Reliance Mutual Fund constantly endeavors to launch innovative products and customer service initiatives to increase value to investors. Reliance Mutual Fund schemes are managed by Reliance Capital Asset Management Limited., a subsidiary of Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM, the balance paid up capital being held by minority shareholders. Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services. Sponsor: Reliance Capital Limited Trustee: Reliance Capital Trustee Co. Limited Investment Manager or Asset Manager: Reliance Capital Asset Management Limited Statutory Details: The Sponsor, the Trustee and the Investment Manager are incorporated under the Companies Act 1956. Reliance Mutual Fund (RMF) has been established as a trust under the Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the Settlor/Sponsor and Reliance Capital Trustee Co. Limited (RCTCL), as the Trustee. RMF has been registered with the Securities Exchange Board of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. The name of Reliance Capital Mutual Fund has been changed to Reliance Mutual Fund effective 11th. March 2004 vide SEBIs letter no. IMD/PSP/4958/2004 date 11th. March 2004. Reliance Mutual Fund was formed to launch various schemes under which units are issued to the Public with a view to contribute to the capital market and to provide investors the opportunities to make investments in diversified securities The main objectives of the Trust are: To carry on the activity of a Mutual Fund as may be permitted at law and formulate and devise various collective Schemes of savings and investments for people in India and abroad and also ensure liquidity of investments for the Unit holders; To deploy Funds thus raised so as to help the Unit holders earn reasonable returns on their savings and To take such steps as may be necessary from time to time to realize the effects without any limitation. Risk Factors: Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Sponsor/AMC/Mutual Fund is not indicative of the future performance of the Scheme. The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond their initial contribution of Rs.1 lakh towards the setting up of the Mutual Fund and such other accretions and additions to the corpus. The NAV of the Scheme may be affected, interalia, by changes in the market conditions, interest rates, trading volumes, settlement periods and transfer procedures. The Mutual Fund is not assuring that it will make periodical dividend distributions, though it has every intention of doing so. All dividend dist ributions are subject to the availability of distributable surplus in the Scheme. Vision Statement To be a globally respected wealth creator with an emphasis on customer care and a culture of good corporate governance Mission Statement To create and nurture a world-class, high performance environment aimed at delighting our customers Corporate Governance Corporate Governance Policy: Reliance Capital Asset Management Ltd. has a vision of being a leading player in the Mutual Fund business and has achieved significant success and visibility in the market. However, an imperative part of growth and visibility is adherence to Good Conduct in the marketplace. At Reliance Capital Asset Management Ltd., the implementation and observance of ethical processes and policies has helped us in standing up to the scrutiny of our domestic and international investors. Management: The management at Reliance Capital Asset Management Ltd. is committed to good Corporate Governance, which includes transparency and timely dissemination of information to its investors and unit holders. The Board of Directors of RCAM is a professional body, including well-experienced and knowledgeable Independent Members. Regular Audit Committee meetings are conducted to review the operations and performance of the company. Employees: Reliance Capital Asset Management Ltd. has at present, a code of conduct for all its officers. It has a clearly defined prohibition on insider trading policy and regulations. The management believes in the principles of propriety and utmost care is taken while handling public money, making proper and adequate disclosures. All personnel at Reliance Capital Asset Management Ltd are made aware of their rights, obligations and duties as part of the Dealing Policy laid down in terms of SEBI guidelines. They are taken through a well-designed HR program, conducted to impart work ethics, the Code of Conduct, information security, Internet and e-mail usage and a host of other issues. One of the core objectives of Reliance Capital Asset Management Ltd. is to identify issues considered sensitive by global corporate standards, and implement policies/guidelines in conformity with the best practices as an ongoing process. Reliance Mutual Fund Schemes: Equity/Growth Schemes The aim of growth funds is to provide capital appreciation over the medium to long- term. Such schemes normally invest a major part of their corpus in equities. Such funds have comparatively high risks. These schemes provide different options to the investors like dividend option, capital appreciation, etc. and the investors may choose an option depending on their preferences. The investors must indicate the option in the application form. The mutual funds also allow the investors to change the options at a later date. Growth schemes are good for investors having a long-term outlook seeking appreciation over a period of time. Debt/Income Schemes The aim of income funds is to provide regular and steady income to investors. Such schemes generally invest in fixed income securities such as bonds, corporate debentures, Government securities and money market instruments. Such funds are less risky compared to equity schemes. These funds are not affected because of fluctuations in equity markets. However, opportunities of capital appreciation are also limited in such funds. The NAVs of such funds are affected because of change in interest rates in the country. If the interest rates fall, NAVs of such funds are likely to increase in the short run and vice versa. However, long term investors may not bother about these fluctuations. Sector Specific Schemes These are the funds/schemes which invest in the securities of only those sectors or industries as specified in the offer documents. e.g. Pharmaceuticals, Software, Fast Moving Consumer Goods (FMCG), Petroleum stocks, etc. The returns in these funds are dependent on the performance of the respective sectors/industries. While these funds may give higher returns, they are more risky compared to diversified funds. Investors need to keep a watch on the performance of those sectors/industries and must exit at an appropriate time. They may also seek advice of an expert. Exchange Traded Funds (ETFs) Exchange Traded Funds (ETFs) are usually passively managed mutual fund schemes tracking a benchmark index and reflect the performance of that index. These schemes are listed on the stock exchange and therefore have the flexibility of trading like a share on the stock exchange. It can also be looked as a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange, thus experiencing price changes throughout the day as it is bought and sold. Fixed Maturity Plans (FMPs) Fixed Maturity Plans (FMPs) are basically debt oriented investment schemes with a pre-specified tenure offered by mutual funds. FMPs invest in a portfolio of debt instruments whose maturity coincides with the maturity of the concerned FMP. The primary objective of a FMP is to generate income while aiming to protect the capital by investing in a portfolio of debt and money market securities. Since FMPs are available with several maturity options, one can invest in the relevant plan depending upon his investment horizon and the requirement of cash flows. Interval Fund / Fixed Maturity Plan Reliance Interval Fund (A Debt Oriented Interval Scheme): The investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund Plan C (A close-ended scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A close-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Portfolio management services: Overview Reliance Portfolio Management Services is an exclusive offering from the portfolio management division of Reliance Capital Asset Management Ltd., a wholly owned subsidiary of Reliance Capital Ltd., Reliance Capital Asset Management Ltd. is also the investment manager for Reliance Mutual Fund schemes wherein it manages assets worth over Rs. 42,200 crores (as on Feb 28, 2007) Reliance Portfolio Management Services is a premium financial service, offering innovative exclusive products through discretionary advisory services. Our expertise has earned the trust of thousands of high net-worth individual/ institutional investors and created a family that is constantly growing. Reliance Portfolio Management Services can conduct your investments with true finesse coupled with passion and innovation. Reliance Portfolio Management Services is a part of Reliance Capital Asset Management Ltd., a wholly owned subsidiary of Reliance Capital Ltd. Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services Organizational philosophy When it comes to managing investments what one needs is the fine harmony and the scale of an orchestra. Essentially, this translates to a special kind of skill that understands the finer nuances and appreciates the subtle notes. Only then can the instrumentation deliver a consistently enhanced performance. Now, you can get that kind of superior orchestration for your investment portfolio. Introducing Reliance Portfolio Management Services (Reliance PMS), a premium financial offering for select investors. An exclusive service, where a diligent team of talented professionals with diverse skill sets orchestrate your investments to deliver optimum returns. And a consistently laudable performance. Investmant philosophy A rich canvas of melodies.. At Reliance PMS you can expect a multitude of innovative investment options to serve varying investment objectives. The spectrum of asset classes traverses from the traditional asset classes, such as equities, fixed income or gold, to emerging ones, such as structured products or realty. Their Aim: To traverse the journey of your wealth creation with you by leveraging these asset options. They constantly endeavor to deliver competitive returns through a conservative and a diligent fund management framework, that is supported by rigorous analysis and a proven investment methodology The keynotes to perfection Minimizing Risks, Optimizing Gains All great scores being with a plan. To make beautiful music and surpass all expectations. Their strategy is quite similar. An increasing investor base is a reflection of the trust that investors repose in us, which we respect. Hence the safety of our investors assets is of utmost priority and this is the foundation of our investment philosophy. At Reliance PMS, they view every portfolio with the diligence of a musician composing a new score. Fine-tuning. Enhancing. Improving. Constantly working towards superior orchestration of your portfolio. Naturally, this is only possible if the foundation is sound. Strong investments, pure harmonies what we believe in Strong melodies call for a fine conductor. Reliance Portfolio Management Services can conduct your investments with utmost perfection. Our investment beliefs form the core of what we do. Our foundation is based on five key elements: Canvas, Concentration, Cash and Flexibility, Customisation and Customer Service. And it is with this rock solid base that we plan a fine crescendo for your investments Reliance PMS advantage: you As a Reliance PMS customer, we get a lot more than just superior portfolio management. We get the advantage of a solid and reputable track record backed by the expertise of a sound and stable investment team. Their philosophy lays considerable emphasis on an intensive research based, bottom-up, stock picking approach with a bias towards customizing the product offerings for our investors and business associates. They strongly believe that our investments should be adaptable enough to succeed in any market situation. Which is why our investment philosophy revolves around a solid bottom-up approach. So its true, when you invest with Reliance PMS, its certain that you will have all your investments in perfect sync. The composers score fund management Process All great scores begin with a plan. To make beautiful music and surpass all expectations. Their process is quite similar. All potential investment opportunities are subjected to extensive research, which includes analysis of various macro and micro economic indicators, related to specific sector company and or industry. This coupled with company visits and extensive interaction facilitates a data pool, which becomes the foundation of the process. Following are various services or investment schemes offered by Reliance Portfolio Management: 1). Absolute freedom option: This investment option is a highly flexible one with a very direct focus. To make the most of investment openings across a wide gamut of large cap, mid cap and small cap stocks. The aim of this product is to deliver positive absolute returns. It plans to do this by focusing on research based value investing to cover potentially investment-worthy companies. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 2). Large cap option: This portfolio model endeavors to generate capital appreciation by investing in companies drawn primarily from the Top 250 companies. These companies are ranked on the basis of market capitalization. The focus over here is on companies with a proven track record and a favorable medium to long-term outlook. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 3). Small Mid cap option: Capital appreciation through bottom up stock picking is of priority here with a special emphasis on the small and mid-cap space. Incisive and keen research is the backbone of this product. A dedicated research team will initiate portfolio building by discovering businesses that are relatively new and less tracked. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 4). Concentrated option: The investment objective of concentrated option is to achieve long term capital appreciation from equity and equity related investments. This investment option endeavors to invest disproportionate corpus in large and mid cap high growth companies that would be able to compound wealth over medium to long term. Investment Time Horizon: 3 years more Minimum Investment Amount: Resident Indian: Resident Indian: INR 1 Crore Tranche 1: INR 50 Lacs Tranche 2: INR 25 Lacs* Tranche 3: INR 25 Lacs* Non Resident Indian: INR 1 Crores 5). Emerging sector opportunity option: The Trinity Option which is a part of Emerging Sector Opportunity Option shall invest in a combination of sectors in order to cater to specific investor requirements and market conditions. The Trinity Series will look at investment opportunities in Natural Resources, Infrastructure Capital Goods and Financial Services. The Trinity Series offer the investors an opportunity to be part of the emerging sectors which would be the engines of growth and key drivers of the Indian economy Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 1 Crores Fixed income schemes under portfolio management services: All Season Debt Shield Aggressive Returns Option: A highly flexible investment option, which offers a diversified investment portfolio across ratings and the yield curve. Fixed Maturity Option: A relatively protective investment option with investments predominantly locked for the duration of the scheme. In certain scenarios, there might be partial redemption allowed, without a significant impact on the portfolio returns. Liquidity Option: The underlying tone of this investment option is to essentially provide the investors with superior returns as compared to traditional open-ended money market schemes. Blended Debt Plus Best of Funds Option Under this option, investments shall be made in units of different mutual funds. This option is designed to achieve even greater diversification than traditional mutual funds. Structured products solution: Structured Products are Investment instruments that combine at least one derivative with assets such as equity and fixed income securities. Such products are fast emerging as an alternate asset class among HNI/ Institutional investors providing opportunities that capture potential upsides of the equity universe with capital protection. Customized solutions: At Reliance PMS believe in delivering more than what the customer expects, customized solutions are just a step towards it. Customized solutions are investments specially created to meet needs that cannot be met from the standardized financial instruments available in the market. Customized solutions capture the characteristics of traditional and nontraditional investments with financial instruments. The strategic combination of these components provides control and flexibility to address those investors whose investment objective is not met through traditional investments available. AMC (Asset Management Company) of Reliance Mutual fund: A company that invests its clients pooled fundinto securities that match its declared financial objectives. Asset management companies provide investors with more diversification and investing options than they would have by themselves. Mutual funds, hedge funds andpension plans are all run by asset management companies. These companies earn income by charging service fees to their clients. AMCs offer their clients more diversificationbecause they have a larger pool of resources than the individual investor.Pooling assets together and paying out proportional returns allows investors to avoid minimum investment requirements often required when purchasing securities on their own,as well as the ability toinvest in a larger set of securities with a smaller investment AMC has to discharge mainly three functions as under: Taking investment decisions and making investments of the funds through market dealer/brokers in the secondary market securities or directly in the primary capital market or money market instruments Realize fund position by taking account of all receivables and realizations, moving corporate actions involving declaration of dividends,etc to compensate investors for their investments in units; and Maintaining proper accounting and information for pricing the units and arriving at net asset value (NAV), the information about the listed schemes and the transactions of units in the secondary market. AMC has to feed back the trustees about its fund management operations and has to maintain a perfect information system. Structure of AMC: RCAM has been appointed as the Asset Management Company of Reliance Mutual Fund by The Trustee vide Investment Management Agreement (IMA) dated May 12, 1995 and executed between Reliance Capital Trustee Co. Limited and Reliance Capital Asset Management Ltd. and amended on August 12, 1997 in line with SEBI (Mutual Funds) Regulations, 1996). Reliance Capital Asset Management Ltd.(RCAM) is an unlisted Public Limited Company incorporated under the Companies Act, 1956 on February 24, 1995, having its registered office at Reliance House, Near. Mardia Plaza, Off. C.G. Road, Ahmedabad, 380 006 and its Corporate Office at One Indiabulls Centre, Tower 1, Jupiter Mills Compound , 841, Senapati Bapat Marg, Elphinstone Road, Mumbai 400 013. Directors of the company include Amitabh Jhunjhunwala, a senior executive of ADAG. Amitabh Chaturvedi is the managing director of the AMC. As of end August 2006, Reliance mutual fund has Rs 28,753 crore of assets under management. Reliance Equity Fund, launched by Reliance MF in early 2006, is the largest mutual find scheme in the country with a fund size of over Rs 5,500 crore. The net worth of the Asset Management Company based on audited accounts as on March 31, 2009 is Rs. 841.32 Crore. Here is a list of mutual funds of Reliance which includes Debt/Income Funds , Equity Funds and Sector Specific Funds. Latest NAV Scheme Name NAV (Net Asset Value) Date Reliance Medium Term Fund-Retail Plan Growth Plan Bonus Option 13.4254 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Growth Plan Growth Option 18.7981 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Monthly Dividend Plan 10.3827 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Quarterly Dividend Plan 10.8016 03-Dec-2009 Reliance NRI Income Fund-Dividend Plan-Dividend Option 11.8741 03-Dec-2009 Reliance NRI Income Fund-Growth Plan-Growth Option 11.8741 03-Dec-2009 Reliance Short Term Fund-Dividend Re-investment Plan 10.6417 03-Dec-2009 Reliance Short Term Fund-Growth Plan 17.1406 03-Dec-2009 Reliance Short Term Fund-Quarterly Dividend Plan 13.5299 03-Dec-2009 Reliance Banking Fund-Dividend Plan-Dividend Option 31.2926 03-Dec-2009 Reliance Banking Fund-Growth Plan-Bonus Option 78.4123 03-Dec-2009 Reliance Banking Fund-Growth Plan-Growth Option 78.4123 03-Dec-2009 Reliance Diversified Power Sector Fund-Dividend Plan-Dividend 47.6648 03-Dec-2009 Reliance Diversified Power Sector Fund-Growth-Bonus 76.6486 03-Dec-2009 Reliance Diversified Power Sector Fund-Growth-Growth 76.6486 03-Dec-2009 Reliance Equity Fund-Dividend Plan-Dividend Option 15.1151 03-Dec-2009 Reliance Equity Fund-Growth Plan-Bonus Option 15.1151 03-Dec-2009 Reliance Equity Fund-Growth Plan-Growth Option 15.1151 03-Dec-2009 Reliance Equity Opportunities Fund-Dividend Plan-Dividend Option 19.3456 03-Dec-2009 Reliance Equity Opportunities Fund-Growth Plan-Bonus Option 27.3863 03-Dec-2009 Reliance Equity Opportunities Fund-Growth Plan-Growth Option 27.3863 03-Dec-2009 Reliance Growth Fund-Dividend Plan-(D) 53.3177 03-Dec-2009 Reliance Growth Fund-Growth Plan-Bonus Option 68.9535 03-Dec-2009 Reliance Growth Fund-Growth Plan-Growth Option 415.6732 03-Dec-2009 Reliance Media Entertainment Fund-Dividend Plan-Dividend Option 18.0409 03-Dec-2009 Reliance Media Entertainment Fund-Growth Plan-Bonus Option 2 Reliance Mutual Fund (RMF) Reliance Mutual Fund (RMF) INTRODUCTION OF RELIANCE MUTUAL FUND Overview Reliance Mutual Fund (RMF) is one of Indias leading Mutual Funds, with Average Assets Under Management (AAUM) of Rs. 1,22,252 CRORES and an investor base of over 72.40 Lacs. (AAUM and investor count as of November 2009) For its 7.3 million investors, RMF offers a well-rounded portfolio of products that meet varying requirements. They are served from offices across 226 locations in India, offices in Dubai, Singapore, Mauritius and UK Reliance Mutual Fund, a part of the Reliance Anil Dhirubhai Ambani Group, is one of the fastest growing mutual funds in the country. RMF offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 118 cities across the country. Reliance Mutual Fund constantly endeavors to launch innovative products and customer service initiatives to increase value to investors. Reliance Mutual Fund schemes are managed by Reliance Capital Asset Management Limited., a subsidiary of Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM, the balance paid up capital being held by minority shareholders. Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services. Sponsor: Reliance Capital Limited Trustee: Reliance Capital Trustee Co. Limited Investment Manager or Asset Manager: Reliance Capital Asset Management Limited Statutory Details: The Sponsor, the Trustee and the Investment Manager are incorporated under the Companies Act 1956. Reliance Mutual Fund (RMF) has been established as a trust under the Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the Settlor/Sponsor and Reliance Capital Trustee Co. Limited (RCTCL), as the Trustee. RMF has been registered with the Securities Exchange Board of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. The name of Reliance Capital Mutual Fund has been changed to Reliance Mutual Fund effective 11th. March 2004 vide SEBIs letter no. IMD/PSP/4958/2004 date 11th. March 2004. Reliance Mutual Fund was formed to launch various schemes under which units are issued to the Public with a view to contribute to the capital market and to provide investors the opportunities to make investments in diversified securities The main objectives of the Trust are: To carry on the activity of a Mutual Fund as may be permitted at law and formulate and devise various collective Schemes of savings and investments for people in India and abroad and also ensure liquidity of investments for the Unit holders; To deploy Funds thus raised so as to help the Unit holders earn reasonable returns on their savings and To take such steps as may be necessary from time to time to realize the effects without any limitation. Risk Factors: Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Sponsor/AMC/Mutual Fund is not indicative of the future performance of the Scheme. The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond their initial contribution of Rs.1 lakh towards the setting up of the Mutual Fund and such other accretions and additions to the corpus. The NAV of the Scheme may be affected, interalia, by changes in the market conditions, interest rates, trading volumes, settlement periods and transfer procedures. The Mutual Fund is not assuring that it will make periodical dividend distributions, though it has every intention of doing so. All dividend dist ributions are subject to the availability of distributable surplus in the Scheme. Vision Statement To be a globally respected wealth creator with an emphasis on customer care and a culture of good corporate governance Mission Statement To create and nurture a world-class, high performance environment aimed at delighting our customers Corporate Governance Corporate Governance Policy: Reliance Capital Asset Management Ltd. has a vision of being a leading player in the Mutual Fund business and has achieved significant success and visibility in the market. However, an imperative part of growth and visibility is adherence to Good Conduct in the marketplace. At Reliance Capital Asset Management Ltd., the implementation and observance of ethical processes and policies has helped us in standing up to the scrutiny of our domestic and international investors. Management: The management at Reliance Capital Asset Management Ltd. is committed to good Corporate Governance, which includes transparency and timely dissemination of information to its investors and unit holders. The Board of Directors of RCAM is a professional body, including well-experienced and knowledgeable Independent Members. Regular Audit Committee meetings are conducted to review the operations and performance of the company. Employees: Reliance Capital Asset Management Ltd. has at present, a code of conduct for all its officers. It has a clearly defined prohibition on insider trading policy and regulations. The management believes in the principles of propriety and utmost care is taken while handling public money, making proper and adequate disclosures. All personnel at Reliance Capital Asset Management Ltd are made aware of their rights, obligations and duties as part of the Dealing Policy laid down in terms of SEBI guidelines. They are taken through a well-designed HR program, conducted to impart work ethics, the Code of Conduct, information security, Internet and e-mail usage and a host of other issues. One of the core objectives of Reliance Capital Asset Management Ltd. is to identify issues considered sensitive by global corporate standards, and implement policies/guidelines in conformity with the best practices as an ongoing process. Reliance Mutual Fund Schemes: Equity/Growth Schemes The aim of growth funds is to provide capital appreciation over the medium to long- term. Such schemes normally invest a major part of their corpus in equities. Such funds have comparatively high risks. These schemes provide different options to the investors like dividend option, capital appreciation, etc. and the investors may choose an option depending on their preferences. The investors must indicate the option in the application form. The mutual funds also allow the investors to change the options at a later date. Growth schemes are good for investors having a long-term outlook seeking appreciation over a period of time. Debt/Income Schemes The aim of income funds is to provide regular and steady income to investors. Such schemes generally invest in fixed income securities such as bonds, corporate debentures, Government securities and money market instruments. Such funds are less risky compared to equity schemes. These funds are not affected because of fluctuations in equity markets. However, opportunities of capital appreciation are also limited in such funds. The NAVs of such funds are affected because of change in interest rates in the country. If the interest rates fall, NAVs of such funds are likely to increase in the short run and vice versa. However, long term investors may not bother about these fluctuations. Sector Specific Schemes These are the funds/schemes which invest in the securities of only those sectors or industries as specified in the offer documents. e.g. Pharmaceuticals, Software, Fast Moving Consumer Goods (FMCG), Petroleum stocks, etc. The returns in these funds are dependent on the performance of the respective sectors/industries. While these funds may give higher returns, they are more risky compared to diversified funds. Investors need to keep a watch on the performance of those sectors/industries and must exit at an appropriate time. They may also seek advice of an expert. Exchange Traded Funds (ETFs) Exchange Traded Funds (ETFs) are usually passively managed mutual fund schemes tracking a benchmark index and reflect the performance of that index. These schemes are listed on the stock exchange and therefore have the flexibility of trading like a share on the stock exchange. It can also be looked as a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange, thus experiencing price changes throughout the day as it is bought and sold. Fixed Maturity Plans (FMPs) Fixed Maturity Plans (FMPs) are basically debt oriented investment schemes with a pre-specified tenure offered by mutual funds. FMPs invest in a portfolio of debt instruments whose maturity coincides with the maturity of the concerned FMP. The primary objective of a FMP is to generate income while aiming to protect the capital by investing in a portfolio of debt and money market securities. Since FMPs are available with several maturity options, one can invest in the relevant plan depending upon his investment horizon and the requirement of cash flows. Interval Fund / Fixed Maturity Plan Reliance Interval Fund (A Debt Oriented Interval Scheme): The investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund Plan C (A close-ended scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A close-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Portfolio management services: Overview Reliance Portfolio Management Services is an exclusive offering from the portfolio management division of Reliance Capital Asset Management Ltd., a wholly owned subsidiary of Reliance Capital Ltd., Reliance Capital Asset Management Ltd. is also the investment manager for Reliance Mutual Fund schemes wherein it manages assets worth over Rs. 42,200 crores (as on Feb 28, 2007) Reliance Portfolio Management Services is a premium financial service, offering innovative exclusive products through discretionary advisory services. Our expertise has earned the trust of thousands of high net-worth individual/ institutional investors and created a family that is constantly growing. Reliance Portfolio Management Services can conduct your investments with true finesse coupled with passion and innovation. Reliance Portfolio Management Services is a part of Reliance Capital Asset Management Ltd., a wholly owned subsidiary of Reliance Capital Ltd. Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services Organizational philosophy When it comes to managing investments what one needs is the fine harmony and the scale of an orchestra. Essentially, this translates to a special kind of skill that understands the finer nuances and appreciates the subtle notes. Only then can the instrumentation deliver a consistently enhanced performance. Now, you can get that kind of superior orchestration for your investment portfolio. Introducing Reliance Portfolio Management Services (Reliance PMS), a premium financial offering for select investors. An exclusive service, where a diligent team of talented professionals with diverse skill sets orchestrate your investments to deliver optimum returns. And a consistently laudable performance. Investmant philosophy A rich canvas of melodies.. At Reliance PMS you can expect a multitude of innovative investment options to serve varying investment objectives. The spectrum of asset classes traverses from the traditional asset classes, such as equities, fixed income or gold, to emerging ones, such as structured products or realty. Their Aim: To traverse the journey of your wealth creation with you by leveraging these asset options. They constantly endeavor to deliver competitive returns through a conservative and a diligent fund management framework, that is supported by rigorous analysis and a proven investment methodology The keynotes to perfection Minimizing Risks, Optimizing Gains All great scores being with a plan. To make beautiful music and surpass all expectations. Their strategy is quite similar. An increasing investor base is a reflection of the trust that investors repose in us, which we respect. Hence the safety of our investors assets is of utmost priority and this is the foundation of our investment philosophy. At Reliance PMS, they view every portfolio with the diligence of a musician composing a new score. Fine-tuning. Enhancing. Improving. Constantly working towards superior orchestration of your portfolio. Naturally, this is only possible if the foundation is sound. Strong investments, pure harmonies what we believe in Strong melodies call for a fine conductor. Reliance Portfolio Management Services can conduct your investments with utmost perfection. Our investment beliefs form the core of what we do. Our foundation is based on five key elements: Canvas, Concentration, Cash and Flexibility, Customisation and Customer Service. And it is with this rock solid base that we plan a fine crescendo for your investments Reliance PMS advantage: you As a Reliance PMS customer, we get a lot more than just superior portfolio management. We get the advantage of a solid and reputable track record backed by the expertise of a sound and stable investment team. Their philosophy lays considerable emphasis on an intensive research based, bottom-up, stock picking approach with a bias towards customizing the product offerings for our investors and business associates. They strongly believe that our investments should be adaptable enough to succeed in any market situation. Which is why our investment philosophy revolves around a solid bottom-up approach. So its true, when you invest with Reliance PMS, its certain that you will have all your investments in perfect sync. The composers score fund management Process All great scores begin with a plan. To make beautiful music and surpass all expectations. Their process is quite similar. All potential investment opportunities are subjected to extensive research, which includes analysis of various macro and micro economic indicators, related to specific sector company and or industry. This coupled with company visits and extensive interaction facilitates a data pool, which becomes the foundation of the process. Following are various services or investment schemes offered by Reliance Portfolio Management: 1). Absolute freedom option: This investment option is a highly flexible one with a very direct focus. To make the most of investment openings across a wide gamut of large cap, mid cap and small cap stocks. The aim of this product is to deliver positive absolute returns. It plans to do this by focusing on research based value investing to cover potentially investment-worthy companies. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 2). Large cap option: This portfolio model endeavors to generate capital appreciation by investing in companies drawn primarily from the Top 250 companies. These companies are ranked on the basis of market capitalization. The focus over here is on companies with a proven track record and a favorable medium to long-term outlook. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 3). Small Mid cap option: Capital appreciation through bottom up stock picking is of priority here with a special emphasis on the small and mid-cap space. Incisive and keen research is the backbone of this product. A dedicated research team will initiate portfolio building by discovering businesses that are relatively new and less tracked. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 4). Concentrated option: The investment objective of concentrated option is to achieve long term capital appreciation from equity and equity related investments. This investment option endeavors to invest disproportionate corpus in large and mid cap high growth companies that would be able to compound wealth over medium to long term. Investment Time Horizon: 3 years more Minimum Investment Amount: Resident Indian: Resident Indian: INR 1 Crore Tranche 1: INR 50 Lacs Tranche 2: INR 25 Lacs* Tranche 3: INR 25 Lacs* Non Resident Indian: INR 1 Crores 5). Emerging sector opportunity option: The Trinity Option which is a part of Emerging Sector Opportunity Option shall invest in a combination of sectors in order to cater to specific investor requirements and market conditions. The Trinity Series will look at investment opportunities in Natural Resources, Infrastructure Capital Goods and Financial Services. The Trinity Series offer the investors an opportunity to be part of the emerging sectors which would be the engines of growth and key drivers of the Indian economy Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 1 Crores Fixed income schemes under portfolio management services: All Season Debt Shield Aggressive Returns Option: A highly flexible investment option, which offers a diversified investment portfolio across ratings and the yield curve. Fixed Maturity Option: A relatively protective investment option with investments predominantly locked for the duration of the scheme. In certain scenarios, there might be partial redemption allowed, without a significant impact on the portfolio returns. Liquidity Option: The underlying tone of this investment option is to essentially provide the investors with superior returns as compared to traditional open-ended money market schemes. Blended Debt Plus Best of Funds Option Under this option, investments shall be made in units of different mutual funds. This option is designed to achieve even greater diversification than traditional mutual funds. Structured products solution: Structured Products are Investment instruments that combine at least one derivative with assets such as equity and fixed income securities. Such products are fast emerging as an alternate asset class among HNI/ Institutional investors providing opportunities that capture potential upsides of the equity universe with capital protection. Customized solutions: At Reliance PMS believe in delivering more than what the customer expects, customized solutions are just a step towards it. Customized solutions are investments specially created to meet needs that cannot be met from the standardized financial instruments available in the market. Customized solutions capture the characteristics of traditional and nontraditional investments with financial instruments. The strategic combination of these components provides control and flexibility to address those investors whose investment objective is not met through traditional investments available. AMC (Asset Management Company) of Reliance Mutual fund: A company that invests its clients pooled fundinto securities that match its declared financial objectives. Asset management companies provide investors with more diversification and investing options than they would have by themselves. Mutual funds, hedge funds andpension plans are all run by asset management companies. These companies earn income by charging service fees to their clients. AMCs offer their clients more diversificationbecause they have a larger pool of resources than the individual investor.Pooling assets together and paying out proportional returns allows investors to avoid minimum investment requirements often required when purchasing securities on their own,as well as the ability toinvest in a larger set of securities with a smaller investment AMC has to discharge mainly three functions as under: Taking investment decisions and making investments of the funds through market dealer/brokers in the secondary market securities or directly in the primary capital market or money market instruments Realize fund position by taking account of all receivables and realizations, moving corporate actions involving declaration of dividends,etc to compensate investors for their investments in units; and Maintaining proper accounting and information for pricing the units and arriving at net asset value (NAV), the information about the listed schemes and the transactions of units in the secondary market. AMC has to feed back the trustees about its fund management operations and has to maintain a perfect information system. Structure of AMC: RCAM has been appointed as the Asset Management Company of Reliance Mutual Fund by The Trustee vide Investment Management Agreement (IMA) dated May 12, 1995 and executed between Reliance Capital Trustee Co. Limited and Reliance Capital Asset Management Ltd. and amended on August 12, 1997 in line with SEBI (Mutual Funds) Regulations, 1996). Reliance Capital Asset Management Ltd.(RCAM) is an unlisted Public Limited Company incorporated under the Companies Act, 1956 on February 24, 1995, having its registered office at Reliance House, Near. Mardia Plaza, Off. C.G. Road, Ahmedabad, 380 006 and its Corporate Office at One Indiabulls Centre, Tower 1, Jupiter Mills Compound , 841, Senapati Bapat Marg, Elphinstone Road, Mumbai 400 013. Directors of the company include Amitabh Jhunjhunwala, a senior executive of ADAG. Amitabh Chaturvedi is the managing director of the AMC. As of end August 2006, Reliance mutual fund has Rs 28,753 crore of assets under management. Reliance Equity Fund, launched by Reliance MF in early 2006, is the largest mutual find scheme in the country with a fund size of over Rs 5,500 crore. The net worth of the Asset Management Company based on audited accounts as on March 31, 2009 is Rs. 841.32 Crore. Here is a list of mutual funds of Reliance which includes Debt/Income Funds , Equity Funds and Sector Specific Funds. Latest NAV Scheme Name NAV (Net Asset Value) Date Reliance Medium Term Fund-Retail Plan Growth Plan Bonus Option 13.4254 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Growth Plan Growth Option 18.7981 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Monthly Dividend Plan 10.3827 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Quarterly Dividend Plan 10.8016 03-Dec-2009 Reliance NRI Income Fund-Dividend Plan-Dividend Option 11.8741 03-Dec-2009 Reliance NRI Income Fund-Growth Plan-Growth Option 11.8741 03-Dec-2009 Reliance Short Term Fund-Dividend Re-investment Plan 10.6417 03-Dec-2009 Reliance Short Term Fund-Growth Plan 17.1406 03-Dec-2009 Reliance Short Term Fund-Quarterly Dividend Plan 13.5299 03-Dec-2009 Reliance Banking Fund-Dividend Plan-Dividend Option 31.2926 03-Dec-2009 Reliance Banking Fund-Growth Plan-Bonus Option 78.4123 03-Dec-2009 Reliance Banking Fund-Growth Plan-Growth Option 78.4123 03-Dec-2009 Reliance Diversified Power Sector Fund-Dividend Plan-Dividend 47.6648 03-Dec-2009 Reliance Diversified Power Sector Fund-Growth-Bonus 76.6486 03-Dec-2009 Reliance Diversified Power Sector Fund-Growth-Growth 76.6486 03-Dec-2009 Reliance Equity Fund-Dividend Plan-Dividend Option 15.1151 03-Dec-2009 Reliance Equity Fund-Growth Plan-Bonus Option 15.1151 03-Dec-2009 Reliance Equity Fund-Growth Plan-Growth Option 15.1151 03-Dec-2009 Reliance Equity Opportunities Fund-Dividend Plan-Dividend Option 19.3456 03-Dec-2009 Reliance Equity Opportunities Fund-Growth Plan-Bonus Option 27.3863 03-Dec-2009 Reliance Equity Opportunities Fund-Growth Plan-Growth Option 27.3863 03-Dec-2009 Reliance Growth Fund-Dividend Plan-(D) 53.3177 03-Dec-2009 Reliance Growth Fund-Growth Plan-Bonus Option 68.9535 03-Dec-2009 Reliance Growth Fund-Growth Plan-Growth Option 415.6732 03-Dec-2009 Reliance Media Entertainment Fund-Dividend Plan-Dividend Option 18.0409 03-Dec-2009 Reliance Media Entertainment Fund-Growth Plan-Bonus Option 2