Taurus Mutual Fund has launched a new open ended index linked equity scheme, Taurus Nifty Index Fund. The new fund offer will be available from 04th June, 2010 to 10th June, 2010. The minimum investment amount under the scheme is Rs 5,000. The investment objective of Taurus Nifty Index Fund is to replicate the S&P CNX Nifty Index by investing in the securities of S&P CNX Nifty Index in the same proportion / weightage. The scheme will allocate 95 per cent to 100 per cent of its assets in securities covered by Nifty with high risk profile. It would further allocate upto 5 per cent of assets in debt and money market instruments with low to medium risk profile. The scheme will charge 1 per cent exit load, if units are redeemed between 15 days from the date of allotment. The scheme will be managed by Mr. Sadanand Shetty and will be benchmarked against S&P CNX Nifty.
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