Mutual Funds

Tata Mutual Fund Launches New Close Ended Debt Scheme

Tata Mutual Fund has offered a new close ended debt scheme called Tata Fixed Maturity Plan Series 55 Scheme D. The NFO (New Fund Offer) will be available for subscription from July 16, 2018 to July 19, 2018.

The investment objective of this Fixed Maturity Plan is to produce income and/ or capital appreciation by investing in Fixed Income Instruments ensuring maturity in line with the maturity of the plan. The maturity of all investments in this scheme will be equal to or less than the maturity of the plan.

But, the fund house does not provide any assurance or guarantee that the investment aim of the plan will be accomplished. To be brief, the scheme does not guarantee any returns, as per information available at Advisorkhoj.

The minimum application amount of the new close ended debt scheme is 5,000 Rupees for the first investment and in multiples of one Rupee thereafter. The maturity period of the new Tata Mutual Fund Plan is 1100 days from the date of allocation.

The Tata Fixed Maturity Plan Series 55 Scheme D offers both Regular and Direct Plans with Dividend Payout Option and Growth Option.

The performance of the scheme comes under the CRISIL Medium Term Debt Index Benchmark.

The Tata Asset Management Company has appointed Mr. Akhil Mittal as the Fund Manager of the new close ended debt scheme – Tata Fixed Maturity Plan Series 55 Scheme D.

Mr. Mittal worked with Canara Robeco Asset Management Company, Principal PNB Asset Management Company, Edelweiss Securities Ltd., and Rallis India Ltd., before joining Tata Asset Management Company. He has done B.Com (H) and MBA from University Business School, according to The economic Times.

The new Tata Mutual Fund is the right fit for investors who are searching for fixed income or capital appreciation on maturity by investing in Debt instruments and Money market instruments, reported Advisorkhoj.

[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. ]

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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