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Tata Floating Rate - Short Term Plan is now Tata Money Market Fund


Tata Mutual Fund has announced that with effect from March 21, 2011, Tata Floating Rate Fund - Short Term Plan will be repositioned as a dedicated Money Market Fund and named as Tata Money Market Fund, an open ended money market scheme.

The investment objective of the scheme is to create a highly liquid portfolio of money market instruments so as to provide reasonable returns and high liquidity to the unit holders.

According to revised asset allocation pattern, the fund will invest up to 100 per cent of its asset in money market instruments.

Investors, who want to exit, can redeem their units from February 17, 2011 to March 18, 2011, without paying any exit load.