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Our Bureau

The close-ended scheme to turn open-ended after 3 years

NEW LAUNCH: Mr Ved Prakash Chaturvedi, Managing Director, Tata Asset Management Ltd, at a press conference to announce the launch of Tata Capital Builder Fund in Mumbai on Monday. - Shashi Ashiwal

Mumbai , July 17

Tata Mutual Fund has announced the launch of Tata Capital Builder Fund, a new three-year close-ended equity scheme to be converted into an open-ended scheme after three years .

The scheme offers a weekly exit option during the close-ended period.

The scheme will focus on building capital through patient, disciplined medium term investing in quality businesses that could fall under large, mid and small cap categories.

The new fund offer will be open from July 18 to August 18.

Announcing the launch at a press conference, Mr Ved Prakash Chaturvedi, Managing Director of Tata Asset Management Ltd, said: "The fund expects earnings growth visibility for companies with strong fundamentals over a period for the next three years and hence this close-ended scheme in the backdrop of the above presumptions will build capital. Its long term nature would avoid short-term market volatility."

Mr Chaturvedi said sectors such as IT, telecommunications, engineering and FMCG have witnessed sustained earnings growth and medium term outlook for these sectors seems positive. Also, sectors such as metals, cement and automobiles are going through an investment cycle to significantly expand capacities. The equity scheme will thus look at building capital.

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