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Tata Mutual Fund Investment Company Unveils Fixed Maturity Plan Series 56 Scheme A

Tata Mutual Fund Investment Company has launched a new close ended debt scheme called Tata Fixed Maturity Plan Series 56 (TFMP56) Scheme A. The NFO will be open for subscription from September 12, 2018, to September 18, 2018.

The investment objective of the TFMP56 Scheme A is to produce income and/ or capital appreciation by investing in fixed income securities with maturity in line with the maturity period of the plan.

The Tata Mutual Fund scheme offers both Growth and Dividend (Payout) Options. The tenure of the close-ended debt scheme is 1104 days from the date of allocation.

The minimum application amount of the Tata Fixed Maturity Plan is 5000 Rupees for the initial investment and in multiples of one Rupee thereafter. There will be no entry load charge and exit load charge for the scheme.

The TFMP56 Scheme A of the Tata Mutual Fund Investment Company will invest about 85 percent to 100 percent of its assets in debt securities with low to medium risk profile and up to 15 percent of assets in money market securities with a low-risk profile.

The close-ended debt scheme seeks to collect a minimum subscription amount or minimum target amount of 20 crore Rupees during the NFO (New Fund Offer) period.

The Tata Fixed Maturity Plan Series 56 Scheme A is benchmarked against the Crisil Medium Term Debt Index.

The fund house has announced Mr. Akhil Mittal as the fund manager of the scheme. The AMC announces the launch of the Fixed Maturity Plan Series 56 Scheme A on September 10, 2018, according to KJMC.

The TFMP56 Scheme A of the Tata Mutual Fund Investment Company product is suitable for investors who are seeking fixed income/ capital appreciation on the maturity of the scheme, and for investors who are seeking to make an investment in Debt and Money market instruments, according to information available in the official website of SEBI.

[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. ]
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Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

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