The asset management firm of Tata Mutual Fund has announced the open ended scheme of Tata Retirement Savings Fund. The fund is aimed to provide ling term financial security to individuals. It has been specially designed with the things in mind the needs of the young as well as the middle aged working generation.
As per the CEO of the company the Fund has been tailor made for supporting the monetary needs of the investors after they retire. The minimum amount that an investor can start with is Rs.5000 with another Rs.500 per month as investment criteria. The unique feature as per the company is the auto systematic withdrawal facility. This feature is designed with the objective for providing the investors with a regular cash flow. These cash flow would be available to them after they pass the age of 60 years. The fund also offers life cycle linked plan and comes with three options
- Progressive plan,
- moderate plan and
- conservative plan
A report produced by the company depicted that only 15% of the total domestic markets were covered by any such scheme. These schemes are debt oriented and was “open-ended.” As per the company’s declared assets the Tata Mutual Fund has more than Rs.23,00 crores of assets under the management spread over its various products.
Bell the Bull says: A new investment plan introduced by Tata which can be a good investment proposition for the young as well as the Middle aged who look to secure their old age monetary needs.