Taurus MF Launches FMP (04-Feb-2010)
Taurus Mutual Fund has launched a close ended debt scheme fund named as Taurus Fixed Maturity Plan 15 Months - Series 1. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from February 4 and will close on February 8, 2010. The scheme's investment objective is to generate income with minimum volatility through investments in a portfolio of debt (including securitized debt) and money market instruments.
The scheme's maturity date will be 15 months from the allotment date of units. The scheme offers two plans - Retail Plan and Institutional Plan. Both the retail and institutional plans will offer growth & dividend option. The scheme would allocate 100% of assets in debt and money market instruments with low to medium risk profile. Moreover, the investment in securitized debt would be up to 50% of the assets of the scheme. The minimum application amount for retail plan stood at Rs 10,000 while Rs 25 lakh for institutional plan & and in multiples of Rs 10 thereafter.
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