Tata Mutual Fund has initiated Tata Fixed Horizon Fund Series 18-A on 12 November 2008. The New Fund Offer (NFO) period for subscription will close on 24 November 2008. The NFO face value of the new fund is Rs 10 per unit. The scheme is a close end debt scheme with term of 13 months from the date of allotment. The investment objective of the schemes is to generate income and / or capital appreciation by investing in wide range of debt and money market instruments.
The fund will invest can invest up to 100% in debt and money market instruments and securitised debt. No investments would be made in foreign securitised debt. The scheme may invest up to a maximum of 50% of the scheme's net assets in domestic securitised debt. The scheme net assets will have a maximum derivative net position of 50% of the net assets of the scheme. Each scheme has two plans regular plan and institutional plan and each plan has two options growth option and dividend option. Dividend option offers periodic dividend or dividend re-investment facility.
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