Taurus MF announced the launch of a one month Fixed Maturity Plan (Series 1) with effect from 23rd of September 2008. The plan envisages investing in high quality debt instruments such as bank certificate of deposits (CD).
Commenting on the launch of Taurus Fixed Maturity Plan (Series1), Mr Waqar Naqvi, CEO Taurus MF said “Our endeavour is to enable wealth creation for our investors irrespective of time horizon. This instrument takes care of the risk return requirements of a short term investor and minimizes volatility”.
The scheme is available until 25th of September 2008. Minimum subscription for retail investors is Rs 5000 and for institutions, the minimum is pegged at Rs 10 lakh. There is no entry load for this scheme. Exit load is one per cent for redemptions prior to maturity. The benchmark index for this scheme is the CRISIL liquid fund index.
About Taurus Asset Management Company
TAURUS Asset Management Company Limited was incorporated in 1994. It has around Rs. 374 crore of average assets under management (as on 31st August 2008) and investor base of approximately 1.65 lacs. The company presently offers 8 mutual fund schemes through a network of 21 branches spread across 21 cities.
Prominent schemes of the fund house include Taurus Star Share (which was conferred the Lipper Award for the Equity Category for a three year performance), Taurus Discovery Stock & Libra Tax Shield.
