Tata Mutual Fund has extended its family of debt funds with the launch of a short-term bond fund. The fund will open for subscription for one day - on August 08, 2002. It will re-open for on-going sale and purchase from August 12, 2002 onwards. Entry into and exit from the fund is on a no-load basis. The entire initial issue expenses will be borne by the AMC. The fund offers three options - Growth, Dividend and bonus plans. The minimum investment is of Rs 10,000 and in multiples of Re 1 thereafter.
Tata Mutual Fund currently manages 4 equity funds and 6 debt funds (apart from 3 closed end equity funds, which had been taken over from the Indian Bank Mutual Fund) with an total asset base of Rs 776.41 crore, as on July 31, 2002.