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Wednesday, February 18, 2009

Tata MF files an offer document with Sebi

Plans to launch Tata TRIPLE Ace Fund

Name of Fund: Tata TRIPLE Ace Fund

Type of Scheme: It is an open-ended debt scheme

Investment Objective: The investment objective of the scheme is to provide reasonable returns by predominantly investing in debt and money market instruments with the highest credit rating such as ‘AAA' / ‘P1' or equivalent.

Investment Options: The Scheme will offer three plans i.e. Regular Investment (RIP), High Investment (HIP) and Super High Investment Plan (SHIP). All options will offer- growth option and dividend reinvestment and payout option with monthly, quarterly and half - yearly frequency.

Asset Allocation: The scheme may invest up to 65%-100% in debt and money market instruments with highest credit rating with low risk profile. It will invest up to 35% in other debt and money market instruments with medium risk profile and foreign debt securities in medium to high-risk profile.

Investment by the scheme in securitised debt will not normally exceed 20% of the net assets of the scheme. The scheme net assets will have a maximum derivative net position of 50% of the net assets of the scheme.

Not more than 25% of the net assets of the scheme shall be deployed in securities lending. The Scheme would limit its exposure, with regards to securities lending for a single intermediary, to the extent of 5% of the total net assets of the scheme at the time of lending.

NFO price: Rs 10 per unit

Entry Load: Nil.

Exit Load: For RIP the scheme will charge an exit load of 1.00% if redeemed before 365 days from the date of allotment. For HIP the scheme will levy 0.50% if redeemed before expiry of 365 days from the date of allotment. And the exit load is nil for SHIP.

Minimum Investment Amount: The minimum investment amount under RIP will be Rs 10,000 and in multiples of Re 1 thereafter, under HIP will be Rs 50 lakh and in multiples of Re 1 thereafter and minimum investment amount for SHIP will be Rs 1 crore and in multiples of Re 1 thereafter.

Minimum Targeted amount: The Fund seeks to collect a minimum subscription amount of Rs 2 crore during NFO.

Benchmark Index: CRISIL Composite Bond Fund Index

Fund Manager: Kinshuk Sharma will manger the domestic portfolio and Sudhir Agarwal will manage the overseas portfolio.

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