Tata Mutual Fund looks to net Rs 500 crore from 5 NFOs, 1 existing scheme

MUMBAI: Tata Mutual Fund is looking at mopping up over Rs 500 crore from five new fund offers ( NFOs) along with one existing infrastructure scheme.

The company has launched five new plans and one existing fund under a unique theme, 'Own a Piece of India', whereby investors have the choice of participating in the country's growth with a single investment across the schemes.

The new family of plans consists of Banking and Financial Services Fund, India Consumer Fund, Digital India Fund, India Pharma & Healthcare Fund, and Resources & Energy Fund.

The existing scheme is Infrastructure Fund.

All the five NFOs, which opened for subscription today, will close on December 18.

"We are looking at mopping up Rs 500 crore plus through the five new open-ended equity schemes along with one existing fund during the NFO period itself," a company official told PTI.

"An individual can choose to invest in all those funds through a single application," he added.

The minimum investment amount is Rs 5,000 in each fund.