Tata Mutual Fund is gearing up to launch its second set of capital-protected funds after it filed offer documents with Indian regulator Sebi to launch Tata Capital Protection Oriented Fund Series 3 & 4.
Tata Capital Protection Oriented Fund Series 3 & 4 will be two three-year close-ended Capital Protection Oriented Schemes that will invest between 82% and 100% in a portfolio of securitised debt instruments, and up to 18% of assets in equity and equity-linked assets.
The new fund is seeking to raise INR35bn ($77m) during the offer period. The scheme will be benchmarked to CRISIL MIP Blended Index like the two previous tranches, Tata Capital Protection Oriented Fund Series I and Tata Capital Protection Oriented Fund Series II.
The offer period has not yet been confirmed. Minimum investment will be INR10,000 ($204) and in multiples of INR1 thereafter.
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