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Thursday, June 25, 2009

Tata MF files an offer document with Sebi

Plans to launch Money Market Fund

Name of Fund: Tata Money Market Fund

Scheme: An open ended money market scheme

Investment Objective: The investment objective is to create a highly liquid portfolio of money market instruments so as to provide reasonable returns and high liquidity to the unitholders.

Investment Options: The scheme will offer institutional and retirement funds plan with growth and dividend option. The dividend option will have dividend re-investment, fortnightly dividend (payout/re-investment) option and monthly dividend option (payout/ re-investment)

Asset Allocation: The scheme shall generally be invested its entire corpus in money market securities with low risk profile. No investments will be made in securitised and other debt instruments.

The scheme shall make investment in / purchase debt and money market securities with maturity upto 91 days only.

NFO price: Rs 10 per unit

Load structure: The scheme will not charge any entry nor exit load.

Minimum Investment Amount: The minimum investment amount under the institutional plan is Rs 1 crore per application and in multiples of Re 1 thereafter. And the minimum investment amount under the retirement plan is Rs 10000 and in multiples of Re 1 thereafter.

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

Benchmark Index: CRISIL Liquid Fund Index.

Fund Managers: Chintan Mehta will manage the fund.

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