Financial Daily from THE HINDU group of publications
Sunday, Mar 06, 2005
Financial Daily from THE HINDU group of publications Sunday, Mar 06, 2005 |
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Markets
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Mutual Funds Tata MF mid-cap offer
TATA MF has worked out a scheme to focus on mid-cap stocks. `Mid-cap', in this case, will either relate to companies with a market cap of Rs 75 crore-Rs 3,000 crore or those with the lowest market cap in the Nifty as on the immediately previous business day, whichever is higher. According to an illustration in the draft offer document, if a stock having the smallest market cap in the index is Rs 2,500 crore, the mid-cap segment will be Rs 75 crore-Rs 3,000 crore. However, if the stock has a market cap of Rs 3,500 crore, then the mid-cap segment will be Rs 75 crore-Rs 3,000 crore. Mid-cap companies, which tend to be under researched, offer relatively higher growth potential, the MF said, adding that such companies will normally account for a minimum 65 per cent of the portfolio. The fund intends to charge an entry load of 3 per cent during the initial offer period. On an on-going basis, too, a similar load will be charged on amounts invested, other than by way of systematic investment plans.
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