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Taurus MF Unveils 91 Days Fixed Maturity Plan
Source: Capital Market, Wednesday, February 22nd, 09:35 AM
Taurus Mutual Fund has launched a new fund named as Taurus Fixed Maturity Plan -Series N (91 Days), a close ended debt scheme with the duration of 91 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 22 February and close on 23 February 2012.
The investment objective of the scheme is to generate income with minimum volatility through investments in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers growth & dividend option.
The scheme would allocate 100% of assets in debt and money market instruments with low to medium risk profile. The scheme will not invest in securitized debt.
The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge for the scheme will be nil. The units of the scheme are proposed to be listed on National Stock Exchange or any other Stock Exchange(s) in India in order to provide liquidity.
Benchmark Index for the scheme will be Crisil Liquid Fund Index and will be managed by Rahul Pal.
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