Introducing a newer concept in Indian mutual fund industry, Taurus mutual fund today launched its 'Taurus Ethical Fund', India’s first equity oriented Shariah compliant mutual fund, wherein investment will be made only in a universe of 152 companies in compliance with Shariah norms.
The new fund offering for the open-ended diversified equity fund opens on February 19 and will close on March 20.
At least 80 per cent of the fund corpus will be invested in equity and equity related instruments and up to 20 per in money market instruments. There will be an entry load of 2.25 per cent while exit load stands at 1 per cent upto six month and beyond that 0.50 per cent and after one year it is nil. However, there is no entry load for systematic investment option of the scheme. The minimum investment is Rs.5000
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