NFO Alert: Tata Mutual Fund launches innovation fund
Tata Mutual Fund has announced the launch of Tata Innovation Fund, an open-ended equity scheme following the innovation theme.
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The new fund offer or NFO of the scheme will open for subscription on November 11 and will close on November 25. The scheme will reopen for continuous sale and repurchase on December 5.
The investment objective of the scheme will be to provide investors with opportunities for long term capital appreciation by investing in equity and equity related instruments of companies that seek to benefit from adoption of innovative strategies and themes.
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The thematic fund will be benchmarked against NIFTY 500 TRI and will be managed by Meeta Shetty and Kapil Malhotra.
The scheme will offer regular and direct plans both with growth and IDCW options. An exit load of 1% will be applicable if redeemed on or before 90 days from the date of allotment.
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