Taurus Mutual Fund has filed offer documents with the market regulator Securities and Exchange Board of India (Sebi) for the launch of its funds – Taurus Rural India Opportunities Fund and Taurus Sector Rotation Fund. Both the funds are open ended equity growth funds.
Taurus Rural India Opportunities Fund
This is the first such fund of Taurus Fund house which would invest up to 100 per cent in equity and equity related instruments of companies which are catering to rural India. The fund may also invest up to 35 per cent in debt and money market securities. It has the leeway to invest in the Initial Public Offering (IPOs) of companies in related sectors.
The only other fund which chases a similar investment strategy is Sundaram BNP Paribas Rural India Reg-G. The fund’s one year returns remain at a robust 118.78 per cent as on March 10, 2010. Taurus Rural India Opportunities fund has been benchmarked against BSE 200. The minimum application amount would be Rs 5,000 and it offers both growth and dividend options.
Taurus Sector Rotation Fund
The fund would invest up to 100 per cent in equity and equity related instruments while it may also invest up to 20 per cent in debt and money market instruments. The fund would normally identify six conviction sectors. The fund would be multi cap in nature investing across all market caps.
Other similar funds include Kotak Select Focus – G which is focused on a few specific sectors and IDFC Strategic Sector (50-50) Equity Plan A which invests up to 50 per cent of its assets in a chosen sector and the balance amount gets invested in companies across market capitalization and across sectors.
Coming back to Taurus Sector Rotation Fund, the latter has been benchmarked against BSE 200. The minimum application amount would be Rs 5,000 and offers both growth and dividend options.
Both the funds would be managed by Mohit Mirchandani who holds a B.Com, MMS and MBA degree from USA apart from having spent 14 years in doing various assignments in equity research.
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