Taurus Mutual Fund will revise asset allocation of Taurus Largecap Equity Fund and Taurus Infrastructure Fund with effect from May 3, the fund house said in a newspaper today.
Subsequently, both the schemes will allocate at least 80 percent of its corpus in equity and equity-related instruments, while up to 20 percent will be deployed in debt and money market securities.
Currently, Taurus Largecap Equity Fund allocates at least 70 percent of its assets in equity and equity-related instruments, up to 25 percent in money market and other assets, and up to 10 percent is deployed in debt instruments.
Taurus Infrastructure Fund, invests at least 70 percent in equity and equity-related instruments, and up to 10 percent in debt and money market securities.
The modifications comes in the wake of Securities and Exchange Board of India’s regulations on Oct 6, which require fund houses to harmonise all existing and future schemes into five broad categories and 36 sub-categories for ease in investing.
Unit holders who do not agree with the changes can avail the exit option between Apr 3 and May 2, without paying any exit load, the notice stated. All other features of both the schemes will remain unchanged.moneycontrol