Tata Mutual Fund has filed offer document with SEBI to launch an open-ended debt Scheme named as ' Tata Credit Risk Fund.'. The New Fund Offer price is Rs 10 per unit. Entry load will be Nil and exit load will be 1% of the applicable NAV, if redeemed on or before expiry of 365 days from the date of allotment for the scheme. The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 20 crore.
The scheme’s performance for scheme will be benchmarked by CRISIL Credit Risk Index. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to generate relatively higher returns/accruals in medium to long term by investing predominantly in AA and below rated corporate debt instruments.