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Tata MF Plans to Launch MIP Floater Fund

Tata Mutual Fund is planning to launch a new open-end hybrid monthly income fund - Tata MIP Floater Fund. While equity exposure is limited to 20 per cent, the remaining debt component (80 per cent) will comprise of fixed-income and floating rate instruments. Atleast 65 of the debt component (52 per cent in all) will be invested in floating rate instruments.