Taurus Mutual Fund today announced the launch of their close - ended debt scheme – Taurus Fixed Maturity Plan 15 Months – Series I. This fund is open for subscription from February 04, 2010 to February 08, 2010. The duration of the fund will be for 15 Months from the date of allotment, February 09, 2010. The performance of this fund will be benchmarked against the Crisil Composite Bond Index Fund.
The fund will have two investment plans – Retail & Institutional. Both the plans have two options - Growth option and Dividend option. Dividend Option will have a Payout facility.
The scheme offers Tax Benefits through double indexation. Indexation benefit would be available for two financial years (2009-10 & 2010-11). Under the dividend option dividends are tax free in the hands of the investor
Mr. Pankaj Jain will be the fund manager for this fund.
Details of the fund:
NFO Opens: February 04, 2010
NFO Closes: February 08, 2010
Date of Allotment: February 09, 2010
Date of Maturity: May 09, 2011
NFO Price: Rs. 10/- face value during the New Fund Offer Period
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Type of Scheme: A close-ended Debt scheme
Duration: 15 Months from the date of allotment of units
Benchmark: Crisil Composite Bond Index Fund
Minimum Subscription Amount: Retail: Rs 10, 000, Institutional: Rs 25, 00,000 and in multiple of Rs 10 thereof
Load structure: Entry Load: Nil
Exit Load: Nil.
About Taurus Mutual Fund:
Taurus Mutual Fund is one of the fastest growing asset management company with 797.65 % YOY growth in Average AUM between Jan 2009 & Jan 2010. Taurus Mutual Fund offers investment for all categories of investors, with 5 Equity oriented schemes, 4 Debt based schemes and an Equity Linked Savings Scheme, in the open ended product basket. It was amongst the first few private sector Mutual Funds registered with SEBI. HB Portfolio Limited is the present Sponsor of the Fund and is a well know player in the Indian capital market.
Taurus Mutual Fund has established its presence across demographics of the country. With branches in top 13 cities and representative in smaller cities, Taurus Mutual Fund's distribution network is strongly supported by more than 4000 outlets of business associates.
For more details www.taurusmutualfund.com