Tata Mutual Fund launched Tata small cap Fund. Tata Small Cap Fund will invest in stocks of small cap companies. The scheme will focus on businesses that are likely to grow substantially faster than the market and have the potential to become midcaps in the future.
The scheme will be benchmarked against Nifty Small cap 100 TRI Index. The minimum investment amount in the scheme will be INR 5,000 and in multiple of Re 1 thereafter. Tata Small Cap Fund will be managed by Chandraprakash Padiyar, senior fund manager, who currently manages, Tata Hybrid Equity Fund and Tata Large & mid cap fund.
There will be no entry load applicable on investments in the scheme. An exit Load of 1 per cent of applicable NAV will be levied if redeemed or switch out from the scheme on or before expiry of 24 months from the date of allotment of units.
Chandraprakash Padiyar, Senior Fund Manager, quoted that, Warren Buffet once said "be fearful when others are greedy and greedy when others are fearful". I would like to point out that valuations are becoming attractive in many cases which in turn can lead to better return potential in the long term. Given the market correction, especially in small cap stocks, there is an interesting long-term investment opportunity with the Tata Small Cap Fund."
Prathit Bhobe, CEO & MD, Tata Mutual Fund also spoke on the scheme saying that, we believe our experience in bottom-up stock picking will help identify opportunities in the small cap space. Indian markets offer good investment opportunities and despite the short term volatility, we recommend that investors look to invest with a long term horizon,"
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