Mumbai: Tata Mutual Fund has changed the name of its Tata Floating Rate Fund – Short Term Plan to Tata Money Market Fund. After the name change, the investment objective and asset allocation pattern of the scheme will change with effect from March 21, 2011.
The revised investment objective of the scheme is to create a highly liquid portfolio of money market instruments so as to provide reasonable returns & high liquidity to the unitholders. The scheme would allocate upto 100 per cent of assets in money market instruments with low risk profile.
Investors, who do not agree with the revision, have an option to redeem their units between February 17, 2011 to March 18, 2011, without paying any exit load. The scheme is managed by Murthy Nagarajan. It is benchmarked against CRISIL Liquid Fund Index.
