Tata MF floats on 3 months fixed horizon fund
Tata Mutual Fund has commenced Tata Fixed Horizon Fund Series 19-F on
10 September 2008. The New Fund Offer (NFO) period for subscription
will close on 24 September 2008. The NFO face value of the new fund is
Rs 10 per unit.
The
scheme is a close end debt scheme with tenure of 3 months from the date
of allotment. The investment objective of the schemes is to generate
income and / or capital appreciation by investing in wide range of debt
and money market instruments.
The fund will invest can invest up
to 100% in debt and money market instruments and securitised debt. No
investments would be made in foreign securitised debt. The scheme may
invest up to a maximum of 50% of the scheme?s net assets in domestic
securitised debt. The scheme net assets will have a maximum derivative
net position of 50% of the net assets of the scheme.
The scheme F
has two plans regular plan and institutional plan. Each plan has two
options growth and dividend option. The dividend option offers periodic
and monthly dividend options. It further offers dividend payout and
dividend re-investment facilities.
There will no entry load
charged for the scheme due to its close-ended structure. But, the
scheme charges an exit load of 0.50%, if the investment is redeemed
before maturity. There will be no exit load charged if the redemption
made on maturity date.
The minimum investment amount under
regular plan will be Rs. 10000 and in multiples of Re. 1 thereafter.
The minimum investment amount under institutional plan will be of Rs 1
crore and in multiples of Re. 1 thereafter. The scheme seeks to collect
Rs 10 crore under initial offer period.
Benchmark Index of the scheme is Crisil Liquid Fund Index. Raju Sharma will manage the scheme.
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