| Tata Mutual Fund has launched a new fund named Tata Fixed Maturity Plan Series 55 (TFMP55) Scheme D, a close ended Debt scheme. The tenure of the scheme is 1100 days from the date of allotment. The new issue will be open for subscription from 16 July 2018 to 19 July 2018.
The investment objective of the scheme is to generate income and / or capital appreciation by investing in Fixed Income Instruments having maturity in line with the maturity of the scheme.
The scheme offers two options viz. growth and dividend option.
The scheme would invest 75% - 100% of assets in debt instruments with low to medium risk profile and upto 25% of asset in money market instruments with low risk profile.
Minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Medium Term Debt Index
The fund manager of the scheme is Akhil Mittal.
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