New Close Ended Scheme launched by Tata Mutual Fund
07/04/2015 10:14
Tata Mutual Fund has launched a new close ended debt scheme named “Tata Fixed Maturity Plan Series 49 Scheme B” 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 April 6 and will close on April 8.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be nil. 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 Composite Bond Fund Index. Amit Somani will be the fund manager of the scheme.
The asset allocation of the 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 Fixed Income Instruments having maturity in line with the maturity of the scheme. Hence, the scheme will allocate 85 to 100 per cent of asset in Debt instruments and 0 to 15 per cent of asset in Money Market Instruments.
07/04/2015 10:14
Tata Mutual Fund has launched a new close ended debt scheme named “Tata Fixed Maturity Plan Series 49 Scheme B” 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 April 6 and will close on April 8.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be nil. 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 Composite Bond Fund Index. Amit Somani will be the fund manager of the scheme.
The asset allocation of the 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 Fixed Income Instruments having maturity in line with the maturity of the scheme. Hence, the scheme will allocate 85 to 100 per cent of asset in Debt instruments and 0 to 15 per cent of asset in Money Market Instruments.
