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Dividend Yield Fund from Tata Mutual
MUMBAI: Tata Mutual Fund launched the Tata Dividend Yield Fund, an open-ended equity scheme, which aims to invest at least 70 per cent of its net assets in shares with dividend yields higher than that of BSE 30-share sensitive index (Sensex) at the time of investment. The fund can also invest in debt instruments, including money market instruments to the extent of 30 per cent of its net assets. The initial public offering (IPO) will remain open till October 27.
"The Tata Dividend Yield Fund intends to focus on companies the dividend yield is higher than the BSE Sensex to benefit investors", said Ved Prakash Chaturvedi, Chief Executive Officer, Tata Mutual Fund.
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