Taurus Banking & Financial Services Fund Launched by Taurus Mutual Fund

Sunday, May 13, 2012

Recently, Taurus Mutual Fund launched Taurus Banking & Financial Services Fund which is the first sector fund of the Company.

An online news portal about business and economy – www.economictimes.indiatimes.com reported about Taurus Banking & Financial Services Fund, “The fund will be actively managed and benchmarked to the BSE Bankex. Being a sectoral fund, the portfolio could be concentrated. The fund manager will invest with a long term horizon and a time frame of 3 to 5 years. The minimum investment amount is Rs 5,000. While there is no entry load, there is an exit load of 1% if you redeem before the completion of one year of allotment of units. The NFO closes on May 16, 2012.”

Further it added, “The central bank reduced repo rates by 50 basis points, signaling rates have peaked out and could be headed downwards. This along with the fact that the stock markets are in a correction phase could give the fund manager a good opportunity to build a portfolio. However, not all is well specially within the PSU banking space.”

It quotes a statement of Kartik Mehta also who is AVP (Research), Sushil Financial Consultants, “Restructured assets have increased five fold without any material change in the reported level of non performing assets. Also, the government is expected to increase its borrowings which in turn would increase the cost of capital for banks, thereby reducing their margins.”

So, Taurus Banking & Financial Services Fund is the first and new area of investment by Taurus Mutual Fund like IDBI Dynamic Bond Fund.
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