Tata MF introduces Floating Rate Fund

Tata Mutual Fund (MF) has launched the Tata Floating Rate Fund, an open-ended debt scheme investing predominantly in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps/ derivatives). The NFO opens for subscription on June 21, 2021 and closes on July 05, 2021. The Entry load is not applicable for the scheme. The Exit Load is nil for the scheme. The minimum subscription amount is Rs 5,000 & in multiples of Re 1 thereafter.

The performance of the scheme shall be benchmarked to the CRISIL Ultra Short-Term Debt Index and its fund managers is Akhil Mittal.

The investment objective of the scheme is to generate income through investment primarily in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and money market instruments.