Taurus Mutual Fund has announced the launch of a fund after a gap of almost two years. The last fund which it had launched was a fixed maturity plan in August 2004. The forthcoming fund would be an ultra short-term debt fund: Taurus Liquid Fund. The fund would be initially open for subscription between August 26, 2006 and August 31, 2006.
The scheme aims to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of money market securities and high quality debt. It would benchmark its performance against CRISIL Liquid Fund Index. The scheme would endeavour to have the lowest expense ratio, below the industry average.
Presently, Taurus Mutual Fund has nearly 200 crores of assets under management under four equity and two bond funds.