Tata MF launches new close ended scheme
11/03/2015 10:52
Tata Mutual Fund has launched a new close ended income scheme named “Tata Dual Advantage Fund Series 3 Scheme A(1099 Days)” with maturity period of 1099 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 9 and will close on March 20. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Index. Amit Somani and Rupesh Patel will be the fund manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income and / or capital appreciation will be met by investing in a portfolio of equity/equity related instrument including derivative instrument. Hence, the scheme will allocate 50 to 95 per cent of asset in debt securities, 0 to 15 per cent of asset in money market instruments and 5 to 35 per cent of asset in equity and equity related schemes.
11/03/2015 10:52
Tata Mutual Fund has launched a new close ended income scheme named “Tata Dual Advantage Fund Series 3 Scheme A(1099 Days)” with maturity period of 1099 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 9 and will close on March 20. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Index. Amit Somani and Rupesh Patel will be the fund manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income and / or capital appreciation will be met by investing in a portfolio of equity/equity related instrument including derivative instrument. Hence, the scheme will allocate 50 to 95 per cent of asset in debt securities, 0 to 15 per cent of asset in money market instruments and 5 to 35 per cent of asset in equity and equity related schemes.
