Taurus Mutual Fund has launched its first sector fund – the Taurus Banking & Financial Services fund. This will be the 12th Indian fund focused on the banking sector.
The scheme will only invest in companies belonging to the Banking & Financial Services sector. It will invest in stocks across all market-cap categories.
The fund will be managed by Sadanand Shetty. He holds a masters degree in commerce and PGDFA. Mr. Shetty joined Taurus Mutual Fund in May 2010. Prior to that, he has worked with Soc Gen, Principal Capital Markets and Kotak Securities. He also manages Taurus Nifty Index, Taurus Starshare (3-star), Taurus Tax Shield (5-star), Taurus Infrastructure (4-star) & Taurus Discovery (1-star), as well as the equity & gold ETF portions of Taurus MIP Advantage.
Taurus Mutual Fund has been in the asset management business for the last 18 years. Currently, it has nine debt & nine equity schemes, excluding FMPs. As on March 31, 2012, its average AUM stood at Rs.3,743 crores.
NFO Opens: May 2, 2012
NFO Closes: May 16, 2012
NFO Price: Rs.10 per unit
Options: Growth & Dividend (with pay out, re-investment & sweep)
Minimum Application Amount for Lump-sum: Rs.5000
Minimum Application Amount for SIP: Rs.1000
Exit Load: 1% if exited/switched-out before 1 year & NIL after 1 year
Benchmark: BSE Bankex Index
Fund Manager: Sadanand Shetty