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Tata Mutual Fund is launching a new fund offer for Tata Floating Rate Fund. The NFO is open for subscription between June 21 and July 5, 2021. Read on to find out more about the NFO.

Investment Objective

This mutual fund is an open-ended debt mutual fund. It will invest in floating rate instruments and fixed-rate instruments converted for floating rate exposures using swaps or derivatives. Floating rate securities are debt securities with a floating interest rate, unlike bonds with fixed interest rates.

Indicative Asset Allocation

Types of Instruments  Indicative allocation  (% of total assets)  Risk Profile
Minimum Maximum
Floating rate securities and  fixed-rate securities converted to floating rate exposures using swaps  or derivatives 65% 100% Low to medium
Fixed-rate debt securities, securitized debt, money market instruments  0% 35% Low to medium
Units issued by Reits and Invits 0% 10% Medium to high

Fund Details

Scheme name Tata Floating Rate Fund
Type of scheme A debt fund investing in floating rate securities and fixed rates securities that can be converted to floating rate using swaps or derivatives.
NFO Dates June 21, 2021, to July 5, 2021
Fund Managers
  • Akhil Mittal
Benchmark CRISIL Ultra Short Term Debt Index TRI
Minimum Amount for Application during NFO Rs.5,000 and in multiples of Re. 1/- after that.  
Minimum Additional Application Amount Rs.1,000 and in multiples of Re. 1/- after that.
Minimum Redemption Amount Rs.500 or 50 units or folio balance, whichever is lower.
Load a) Entry Load: Not Applicable 

b) Exit Load: Nil

Plans Direct and Regular
Options
  1. Growth
  2. Monthly Payout of Income Distribution Cum Capital Withdrawal Option(IDCW-Monthly Payout) 
  3. IDCW-Quarterly Payout
  4. IDCW-Periodic Payout Monthly
  5. IDCW-Monthly Reinvestment 
  6. IDCW- Quarterly Reinvestment 
  7. IDCW-Periodic Reinvestment
Minimum SIP Amount Rs 150

Benchmark

CRISIL Ultra Short Term Debt Index

Invest in direct mutual funds

  • Enjoy 0% commission
  • SIP starting at ₹500

The index tracks the performance of ultra-short-term debt securities. These mainly comprise treasury bills, short term AAA/AA+/AA rated corporate bonds, commercial papers and certificates of deposit. 

Fund Managers

Akhil Mittal

Mr Mittal has headed the fixed income departments of various mutual fund companies like Canara Robecco AMC and Principal PNB AMC. He has been with the Tata AMC since June 2014.

Other schemes managed by him:

  • Tata Treasury Advantage Fund
  • Tata Dynamic Bond Fund
  • Tata Income Fund
  • Tata Young Citizens‘ Fund (Debt Portfolio)
  • Tata Fixed Maturity Plan Series 53 Scheme A, Scheme B
  • Tata Fixed Maturity Plan Series 54 Scheme A
  • Tata Fixed Maturity Plan Series D, E, F, G, H, I, J
  • Tata Fixed Maturity Plan Series 56 A,B,C,D,F,G,H.
  • Tata Ultra Short Term Bond Fund
  • Tata Balanced Advantage Fund (Debt portfolio)

Happy Investing!

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Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.