Tata Mutual Fund has launched a new fund named as Tata Ultra Short Term Fund, an open ended ultra-short term debt scheme investing in instruments such that the macaulay duaration of the portfolio is between 3 months and 6 months. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 January to 21 January 2019.

The investment objective of the scheme is to generate returns through investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 months - 6 months.

The scheme offers regular plan and direct plan for investment. Both plans offer growth option and dividend option. Dividend option has sub-options are weekly (payout & reinvestment), monthly (payout & reinvestment) and default option.

The scheme would allocate upto 100% of assets in debt & money market instruments with low to medium risk profile.

The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.

The minimum additional amount is Rs 1000 and in multiples of Re. 1/- thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry load: Not Applicable

Exit load: Nil

Benchmark Index for the scheme is CRISIL Ultra Short Term Debt Index.

The fund manager of the scheme is Akhil Mittal.