Tata MF launches "Tata Fixed Maturity Plan Series 39 Scheme C (398 Days)"; NFO to close on February 27

Tata Mutual Fund launched a new close ended debt scheme named "Tata Fixed Maturity Plan Series 39 Scheme C (398 Days)", with maturity time of 398 days.

The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription on February 17, 2012 and will close on February 27, 2012.

According to the offer document filed with SEBI, the entry load was nil and since the scheme was 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 was Rs 10,000. The two options were available under the Plan of the Scheme viz. Growth and Dividend Payout option.

The performance of the scheme will be standardized against Crisil Short Term Bond Fund index and Murthy Nagarajan 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, through investments in wide range of debt and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of assets in debt instruments and 0 to 20 per cent in money market instruments.