Financial Daily from THE HINDU group of publications
Thursday, Jan 26, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 26, 2006 |
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Markets
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New Fund Offer Tata Mutual launches Tax Advantage Fund Our Bureau
Mumbai , Jan. 25 TATA MUTUAL Fund on Tuesday announced the launch of new scheme, Tata Tax Advantage Fund-1, a 10-year close-ended equity-linked savings scheme (ELSS) with a three-year lock-in period. The scheme aims to provide medium- to long-term capital gains along with income tax relief. It can invest up to 100 per cent of funds in equity and equity-related instruments. "Tata Tax Advantage Fund-1 presents more than just an option to save income tax. Due to a combination of the inherent advantages of a close-ended ELSS with our proven expertise in bottom-up stock picking, it also offers an opportunity to catch the long-term upside potential of the Indian equity market," said Mr Ved Prakash Chaturvedi, Managing Director, Tata Asset Management Ltd. The Tata Tax Advantage Fund-1 will close on February 20.
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