Tata Mutual Fund has raised Rs 180 crores under Tata Dynamic Bond Fund. The fund was open for initial subscription for two days: September 1 and September 2, 2003. The fund will reopen for subscriptions and repurchases on September 9, 2003.
Tata Dynamic Bond offers two plans: Plan A and Plan B, which have different investment amounts and different load structures. Both the plans offer Growth, Bonus and Dividend options. The minimum subscription amount under Plan A is Rs 5000, while it is Rs 100000 under Plan B. Plan A would charge no entry load but an exit load of 1 per cent for investments redeemed within 365 days of allotment. Whereas Plan B would be a no load fund. But the initial issue expenses of both the plans will be borne by the AMC. The fund is advisable for people with investment horizon of 6 months or more.