The Hindu Business Line : Tata Mutual plans hybrid SIP scheme

Tata Asset Management has launched a Tata Systematic Investment Plan (SIP) Fund - Scheme I, a three-year close-ended hybrid scheme. The fund portfolio would gradually shift from being debt-oriented to equity-oriented over the three-year period.

The new fund offer opens on January 15 and closes on February 15.

"The fund will initially be fully invested in the debt market and will offload 2.75 per cent of the corpus every month in equity markets. This will help the fund secure the benefits of high interest rates and gain advantage by being 100 per cent invested in equity markets at the end of 36 months," said Mr Ved Prakash Chaturvedi, Managing Director, Tata AMC.

Investors will pay the amount only once during the new fund offer and the minimum initial investment is Rs 5,000.

The scheme will provide an option for investors who want to redeem at favourable market levels to enter Tata Pure Equity Fund at no entry load at the end of three years, said Mr Chaturvedi.

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