Taurus Mutual Fund launches Shariah Compliant Taurus Ethical Fund

Taurus Mutual Fund has launched a new open-ended equity oriented scheme Taurus Ethical Fund. Taurus Ethical Fund will actively manage investment in companies which are in compliance with the Shariah norms. The scheme will primarily invest in Equity and Equity related instruments.

The New Fund Offer opens on 19th February 2009 and closes on 20th March 2009.

The scheme re-opens for redemption and continues offer at a date not later than 30 days from the date of close of New Fund Offer. The New Fund Offer is priced at Rs 10 per unit + applicable load.

The Minimum Application Amount during NFO is Rs 5000 and in multiple of Rs 1 there of.

The entry load is 2.25% and exit load is 1% upto 6 months. The exit load will be 0.50% from 6 months to 1 year and no exit load after 1 year. Under SIP, there is no entry load. But, there is an exit load of 2.25% if redeemed within 1 year from the date of allotment - applicable to each allotment.

The scheme offers different choices of investment like Growth, Dividend Option - Dividend Payout & Dividend Re-investment option, Bonus option.

The Benchmark for the scheme will be S&P CNX 500 Shariah Index.

Source : Equity Bulls

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