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Tata MF raises Rs 180 cr through Tata dynamic bond fund
Mumbai, Sept 04: Tata Mutual Fund has raised Rs 180 crore under its dynamic bond fund and the subscription for its initial public offering (IPO) closed on September 02.
Mumbai, Sept 04: Tata Mutual Fund has raised Rs 180 crore under its dynamic bond fund and the subscription for its initial public offering (IPO) closed on September 02.
"Mostly institutional and high networth investors (HNI) have invested in the scheme", Tata MF chief executive officer V P Chaturvedi told a news agency here today.
The open-ended fund, which opened for subscription on September 01, was aimed at providing reasonable returns and high level of liquidity by investing the scheme corpus in debt instruments, including debentures and government securities, he said. Comfortable liquidity, record forex reserves and easing of inflationary pressures due to normal monsoon augur well for the bond markets, Chaturvedi said.
However, rising oil prices, geo-political uncertainty and rising global yields were some of the risks which have to be taken into account while making investments, he added. The scheme would reopen for subscription on September 09, according to the fund prospectus.
Bureau Report
The open-ended fund, which opened for subscription on September 01, was aimed at providing reasonable returns and high level of liquidity by investing the scheme corpus in debt instruments, including debentures and government securities, he said. Comfortable liquidity, record forex reserves and easing of inflationary pressures due to normal monsoon augur well for the bond markets, Chaturvedi said.
However, rising oil prices, geo-political uncertainty and rising global yields were some of the risks which have to be taken into account while making investments, he added. The scheme would reopen for subscription on September 09, according to the fund prospectus.
Bureau Report