New Investment Opportunity: Tata Mutual Fund Introduced New Tata Innovation Fund
Tata Mutual Fund has launched the Tata Innovation Fund, which is an open-ended scheme that plans to invest in innovation and future-focused business sectors.
Tata Mutual Fund provides investors with long-term capital growth by investing in equity and equity-related instruments of companies that are looking for the benefit from the adoption of innovation themes and strategies.
NFO subscriptions to this scheme will be open from Nov 11, 2024, and will be closed on Nov 25, 2024. The scheme will reopen for continuous subscription and repurchase on December 5, 2024.
Tata Innovation Fund will provide both plans—regular and direct, available with growth and IDCW options. The exit load of 1% will be charged if recovered within 90 days from the allotment date.
The thematic fund will be benchmarked against the NIFTY 500 TRI, and this scheme will be managed by Meeta Shetty and Kapil Malhotra, bringing their expertise to guide the fund’s performance.
The minimum application fee structure for this scheme is given below:
The lumpsum investment application fee in the scheme will be Rs. 5,000 and in multiples of Re. 1 thereafter, and for SIP, the application fee will be Rs. 100 and in multiples of Re. 1 thereafter.
The Tata India Innovation Fund focuses on the company’s key transformative innovations and also uses advanced technologies like machine learning, artificial intelligence, and digital transformation.
Rahul Singh, the Chief Investment Officer at Tata Asset Management, said “India is facing rapid transformations in different industries, brought by the digital revolution in finance, healthcare, automotive solutions, consumer technology, and more. After the country continues to climb in global innovation rankings, we are making notable developments in fields like digital commerce, green mobility, electric vehicle infrastructure, space technology, and cutting-edge healthcare. The Tata India Innovation Fund focuses on capitalizing on these changes, providing investors with an opportunity to be part of the growth of companies at the forefront of this innovation revolution.”
