
Tata Mutual Fund has launched a new open-ended diversified equity fund - Tata Equity P/E Fund. This is the sixth diversified equity fund from the stables of Tata Mutual Fund. The initial offer for the fund is open from May 17 to June 15, 2004.
Tata Equity P/E would invest at least 70 per cent of its net assets in shares whose trailing P/E ratios are less than that of BSE Sensex at the time of investment and 30 per cent in other stocks, including a maximum of 20 per cent in debt and money market instruments.
Investors can choose between a dividend and a growth option. Minimum investment required to invest in the fund is Rs 5,000. During the initial offer period the fund would not charge any load but on an ongoing basis it would charge an entry load of 2.25 per cent for investments less than Rs 2 crore.