NFO opens from 19th September 2019 to 3rd October, 2019.
Tata Mutual Fund has launched Tata Banking and PSU Debt fund – an open-ended debt scheme which will predominantly invest in debt instruments of banks, public sector undertakings, public financial institutions and municipal bonds. The fund aims to minimize credit risk while generating return through a blend of accruals and rate movements.
There is no entry and exit load. The fund will be managed by Amit Somani, Senior Fund Manager – Fixed Income at Tata Mutual Fund.
Speaking at the launch Amit Somani, Senior Fund Manager, Tata Mutual Fund said that, “in the current market scenario, investors may wish to have an extended allocation to safer fixed income portfolio. Tata Banking and PSU debt fund will be less actively traded portfolio of high quality and liquid bonds. Our aim is to optimize returns while remaining focused on safety and liquidity. This portfolio is suitable for regular savings in a debt fund for an investment horizon of more than 2 years”.
The fund is currently open for subscription from 19th September 2019 and will close on 3rd October 2019. The minimum amount of investment is Rs. 5,000.