Taurus Mutual Fund has launched a new open ended income scheme, Taurus MIP Advantage. The new fund offer will be available from 29th June, 2010 to 23rd July, 2010. The minimum investment amount for the growth option is Rs. 5000 and for dividend option is Rs. 10,000. The investment objective is to generate regular income through a portfolio of fixed income securities, Gold ETFs and equity and equity related instruments. The scheme will allocate 65 per cent to 95 per cent of assets in debt and money market instruments, upto 25 per cent of assets in equity and equity related instruments and 5 per cent to 25 per cent of assets in Gold ETFs. The scheme will charge an exit load of 1 per cent if the investments are redeemed within 1 year from the date of allotment. The scheme will be managed by Mr. Rahul Pal and Mr. Sadanand Shetty and will be benchmarked against CRISIL MIP Blended Fund Index and price of gold.
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