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.
In a press release, Amit Somani, Senior Fund Manager, Tata Mutual Fund said, “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 aims to minimize credit risk while generating return through a blend of accruals and rate movements. There will be no exit load. Amit Somani, Senior Fund Manager – Fixed Income at Tata Mutual Fund will manage the fund.
