Tata Mutual Fund launches new NFO

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Tata Mutual Fund has launched a new close ended income fund called "Tata Fixed Maturity Plan Series 39 Scheme F (380 Days)", with maturity period of 380 days.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opens for subscription on March 9, and will close on March 14, 2012. According to the offer document filed with SEBI, the entry load and exit load is nil.

The minimum application amount is Rs 10,000, with options under the Plan of the scheme being growth and dividend payout. The performance of the scheme will be standardised against Crisil Short Term Bond Fund Index and Murthy Nagaraja will be the Fund Manager for the scheme.

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 having maturity in line with the maturity of the respective schemes. Hence, the scheme will allocate 80 to 100 per cent in debt and 0 to 20 per cent in money market instruments.

Read more about: tata mutual fund, fixed income
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