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Tata MF Plans a Floating Rate Fund

Tata Mutual Fund has filed an offer document with the Securities and Exchange Board of India for the launch a floating rate fund. As per the offer document the scheme, named as Tata Floater Long Term Fund, would invest 65 to 100 per cent of its corpus in floating rate debt instruments, and up to 35 per cent in fixed rate debt securities, including securitised debt and money market instruments. The minimum application amount will be Rs 10,000. The fund would offer growth and dividend options.