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Monday, March 16, 2009

Taurus MF commences 370 days FMP

NFO period from 13 March-25 March 2009

Taurus Mutual Fund has unveiled Taurus Fixed Maturity Plan - 370 Days-Series 2 on 13 March 2009. The scheme is available for fresh subscription until 25 March 2009. The new issue price is at Rs 10 per units during new fund offer period.

Taurus Fixed Maturity Plan - 370 Days-Series 2 is a close ended debt scheme, with an investment objective of generating income with minimum volatility through investments in a portfolio of debt (including securitised debt) and money market instruments.

The 370 days FMP-Series 2 will have retail and institutional plan with growth and dividend option.

Investors under retail plan should apply for minimum amount of Rs 10000 and in multiples of Rs 10 thereafter and under institutional plan they should invest minimum of Rs 25 lakh and in multiple of Rs 10 thereafter.

The Fund seeks to collect a minimum of Rs. 2 crore in the New Fund Offer.

The scheme will invest its entire corpus in debt & money market instrument including securitised debts. Investment in securitised debt shall be up to 50% of the net assets of the scheme. The scheme may, from time to time hold cash to meet the redemption requirements, due to lag in deal date and value date of acquiring an asset, due to marginal difference in maturity date of an asset and the maturity date of the concerned scheme.

The fund will not charge an entry and exit load.

The benchmark index for this scheme is the Crisil Short Term Bond Index.

The fund manager for the scheme is Kumar Nathani.

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