Tata MF launches new Fixed Horizon Fund Series 18-D
Tata Mutual Fund has commenced Tata Fixed Horizon Fund Series 18- D on
29 August 2008. The New Fund Offer (NFO) period for subscription will
close on 4 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 13 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.
Each
scheme has two plans regular plan and institutional plan and each plan
has two options growth option and dividend option. Dividend option
offers periodic dividend or dividend re-investment facility.
There
will no entry load charged for the scheme due to its close-ended
structure. The scheme charges an exit load of 1.00%, 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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