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Friday, September 18, 2009

Tata Fixed Maturity Plan Series 25 Scheme B Floats On

NFO closes on 24 September 2009

Tata Mutual Fund has launched new fund named as Tata Fixed Maturity Plan Series 25 Scheme B, a close-ended debt scheme. The face value of the new issue will be Rs. 10 per unit. The new issue will close on 24 September 2009.

The investment objective of the scheme is to generate income and / or capital appreciation by investing in wide range of debt and money market instruments having maturity in line with the maturity of the respective schemes. The maturity of all investments shall be equal to or less than the maturity of respective schemes.

Maturity date of the scheme would be 18 months from the date of allotment of units of the scheme.

The scheme shall offer retail investment, high investment and super high investment plan with sub-option of dividend and growth. Dividend option has periodic option with dividend payout facility.

The minimum application amount for purchase of units in retail investment plan is Rs. 10,000 and in multiples of Re. 1 thereafter. For high investment plan, Rs. 25 lakh and in multiples of Re.1 thereafter. For super high investment plan, Rs. 1 crore and in multiples of Re.1 thereafter.

The fund seeks to collect a minimum subscription amount of Rs. 10 crore under the scheme during the NFO period.

The fund would invest up to 100% in debt & money market instruments & securitised debt with low to medium risk profile. The scheme may invest up-to a maximum of 50% of the scheme's net assets in domestic securitised debt. The scheme net assets will have a maximum derivative net position of 50% of the net assets of the scheme.

The entry and exit load charge for the scheme will be nil.

Benchmark Index for the scheme is CRISIL Short-Term Bond Fund Index.

The fund manager of the scheme will be Chintan Mehta.

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