Taurus Mutual Fund has extended the closing date of New Fund Offer (NFO) period of Taurus Fixed Maturity Plan -370 Days-Series 1 till 23 October 2008 instead of 16 October 2008. The new fund offer was opened for subscription on 8 October 2008. The new issue price is at Rs 10 per units during new fund offer period.taurus Fixed Maturity Plan -370 Days-Series 1 is a close ended debt scheme, with an investment objective of generating income with minimum volatility through investments in a portfolio of debt (including securitised debt) and money market instruments.
The FMP-Series 1 will have retail and institutional plan with growth and dividend option. The dividend option will be available under two sub-options - the payout option and the reinvestment option.Investors under retail plan should apply for minimum amount of Rs 5000 and under institutional plan they should invest minimum of Rs 10 lakh and in multiple of Re. 1 for fresh purchases and Re.0.01 for inter plan switches. The scheme will invest its entire corpus in debt & money market instrument including securitised debts. The fund will not charge an exit load as the scheme is of close-ended nature. Exit load is 1% for redemptions before maturity. The benchmark index for this scheme is the Crisil Short Term Bond Index. The fund manager for the scheme is Kumar Nathani.
The FMP-Series 1 will have retail and institutional plan with growth and dividend option. The dividend option will be available under two sub-options - the payout option and the reinvestment option.Investors under retail plan should apply for minimum amount of Rs 5000 and under institutional plan they should invest minimum of Rs 10 lakh and in multiple of Re. 1 for fresh purchases and Re.0.01 for inter plan switches. The scheme will invest its entire corpus in debt & money market instrument including securitised debts. The fund will not charge an exit load as the scheme is of close-ended nature. Exit load is 1% for redemptions before maturity. The benchmark index for this scheme is the Crisil Short Term Bond Index. The fund manager for the scheme is Kumar Nathani.
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