Tata Mutual fund on recently announced the launch of savings fund “Tata Retirement Savings Fund” for those aiming to save for post retirement needs.
The fund have 3 options
1. Progressive plan
2. Moderate plan
3. Conservative plan which will have debt-equity mix according to the risk appetite of the investors in the 25 years to 60 years age bracket.
The NFO (New Fund Offer) opens for subscription on October 7, 2011 and closes on October 21. It will reopen again in November, 2011 for subscription.
The debt-equity proportion will be adjusted with increasing age automatically. The investor also can switch to other 2 plans on his own three times till the age of 60 years.
Mr. Sanjay Sachdev, President & CEO, Tata Asset Management said, “TheTata Retirement Savings Fund is designed to take care of the future requirements of youngand middle aged, working people, against inflation, increased medical exigencies, increasing life expectancy. With increasing life expectancy, one can assume a post retirement life of 30 years after 30 earning years. The challenge clearly is the ability to maintain the same lifestyle post retirement.
Portfolio..!
Under the progressive plan equity will form 85 per cent to 100 per cent of the portfolio while debt will be 0-15%.Under the moderate plan 65 to 85% of the fund will be put in equity and 15 to 35% in debt.
Maximum debt side allocation will take place under the conservative plan of 70-100 % while equity allocation will be 0-30%.
The automatic switch from progressive to moderate will happen once the person attain the age of 45 years and then from moderate to conservative plan when he attains the age of 60 years.
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The fund have 3 options
2. Moderate plan
3. Conservative plan which will have debt-equity mix according to the risk appetite of the investors in the 25 years to 60 years age bracket.
The NFO (New Fund Offer) opens for subscription on October 7, 2011 and closes on October 21. It will reopen again in November, 2011 for subscription.
The debt-equity proportion will be adjusted with increasing age automatically. The investor also can switch to other 2 plans on his own three times till the age of 60 years.
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| Mr. Sanjay Sachdev |
Mr. Sanjay Sachdev, President & CEO, Tata Asset Management said, “TheTata Retirement Savings Fund is designed to take care of the future requirements of youngand middle aged, working people, against inflation, increased medical exigencies, increasing life expectancy. With increasing life expectancy, one can assume a post retirement life of 30 years after 30 earning years. The challenge clearly is the ability to maintain the same lifestyle post retirement.
Portfolio..!
Under the progressive plan equity will form 85 per cent to 100 per cent of the portfolio while debt will be 0-15%.Under the moderate plan 65 to 85% of the fund will be put in equity and 15 to 35% in debt.
Maximum debt side allocation will take place under the conservative plan of 70-100 % while equity allocation will be 0-30%.
The automatic switch from progressive to moderate will happen once the person attain the age of 45 years and then from moderate to conservative plan when he attains the age of 60 years.
Also Read
Largest Mutual fund house in India: HDFC overtakes Reliance NFO: DSP BR World Agriculture Fund
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