Tata Mutual Fund has launched a close ended debt fund called Tata Dual Advantage Fund - Scheme C with a maturity period of 1103 days. The NFO will be open from June 11, 2014 to June 23, 2014.
The scheme aims to generate income by investing predominantly in portfolio of fixed income instruments having maturity on or before the date of the maturity of the scheme. The scheme will also invest a small portion of assets in equity/equity related instrument including derivative instruments.
In a press release, the company said that the fund management strategy involves investing predominantly in fixed income instruments as well as in equity & equity related instruments with the duo focusing on investing in quality papers to manage credit risk and well managed, good quality, fundamentally strong companies with above average growth prospects for healthier returns.
The minimum application amount is Rs 5000. The performance of the scheme will be benchmarked against CRISIL MIP Blended Index and will be managed by Rupesh Patel (equity portfolio) and Amit Somani (debt Portfolio).
