Tata Mutual Fund will open new fixed term fund named as Tata Fixed Maturity Plan (FMP) Series 38 Scheme F, a close-ended debt scheme with the duration of 548 days from the date of allotment.
The NFO will open for subscription on December 5, 2011 and will close on December 14, 2011. The scheme offers a choice of two options, growth option and dividend payout option.
The scheme will be benchmarked against Crisil Short Term Bond Fund Index. The minimum application amount is Rs 10,000. Entry and exit load charge for the scheme will be nil.
The scheme will be managed by Murthy Nagarajan.
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 scheme. The maturity of all investments shall be equal to or less than the maturity of the scheme.