Financial Daily from THE HINDU group of publications
Friday, Feb 04, 2005
Financial Daily from THE HINDU group of publications Friday, Feb 04, 2005 |
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Markets
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Mutual Funds Tata Mutual plans fixed horizon fund Our Bureau
Mumbai , Feb. 3 TATA Mutual Fund is launching its fixed horizon fund. This is a close-ended pure debt scheme. The scheme objective is to generate regular returns or capital appreciation through investments mainly in fixed income securities, according to the draft offer document of the scheme. The scheme has six plans, such as Plan A, B, C. Plans A, B, C are of 371 days duration each. Plan D's duration is 25 months and Plans E and F are of 18 months duration. Each Plan will be considered as fresh subscription as and when it is launched, said the offer document. Each Plan has two options - growth and dividend. Dividend will be compulsorily re-invested, the release said. The initial subscription under each plan is a minimum of Rs 10,000. Earnings of the fund totally exempt from income tax under Section 10(23D) of the Income Tax Act, 1961, said the offer document. The offer document is now filed with Securities and Exchange Board of India for approval.
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