Tata Monthly SIP Mutual Fund announces a change in the terms for all equity MF schemes except for Tata Young Citizens Fund and Tata India Tax Savings Fund.
Accordingly, the minimum SIP amount for the Tata schemes which is presently 500 Rupees and will be 150 Rupees. The SIP frequency which is Monthly and will be changed to Daily/ Weekly/ Monthly. There will be no change in the minimum number of installments which is 12.
Except for the Tata Young Citizens Fund and Tata India Tax Savings Fund, the above-mentioned changes will be implemented for the monthly SIP (Systematic Investment Plan) of all other equity mutual fund schemes of Tata AMC.
Tata India Tax Savings Fund, an open-ended ELSS (Equity Linked Savings Scheme) equity scheme, aims to provide income distribution and/ or medium to long-term capital gains while giving importance to capital appreciation at all times. The fund house has not made any changes to the SIP scheme of the Tata India Tax Savings Fund.
Likewise, the fund house has also not made any changes to the Tata Monthly SIP Mutual Fund scheme of its Tata Young Citizens Fund which aims to generate long-term capital growth.
Tata Young Citizens Fund is an open-ended balanced mutual fund scheme which has been completely designed for children aged between 3 months and 18 years. This scheme aims at facilitating parents, guardians, and well-wishers to save for future requirements of children.
Tata India Tax Savings Fund invests 80 percent to 100 percent of assets in equity and equity-related securities, according to information in the official website of Tata Mutual Fund.
Tata Young Citizens Fund deploys 65 percent to 85 percent of assets in equity and equity-related securities (Listed/ Unlisted) of a high-risk profile, based on information in the official website of the fund house.
Tata Mutual Fund announced the change in the terms of the Tata Monthly SIP Mutual Fund schemes of equity schemes except for India Tax Savings Fund and Young Citizens Fund, on September 24, 2018, according to KJMC.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]