Tata MF introduces Ultra Short Term Fund

Tata Mutual Fund (MF) launched the Tata Ultra Short Term Fund, an open ended ultra-short term debt scheme. The NFO opens for subscription on January 11, 2019 and closes for January 21, 2019. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiple of Re 1 thereafter.

The scheme’s performance will be benchmarked against CRISIL Ultra Short Term Debt Index and its fund manager is Akhil Mittal.

The investment objective of the scheme is to generate returns through investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 months - 6 months.