Tata Mutual Fund waits for SEBI approval

According to the draft offer document filed on SEBI’s website, Tata Mutual Fund has sought the Securities and Exchange Board of India’s approval to launch an open-ended dynamic asset allocation fund.

The scheme, Tata Balanced Advantage Fund, will deploy at least 65 % of its assets in equity and equity-related instruments, and equity derivatives, while up to 35 percent of the assets would be involved in debt, money market instruments, and securitized debt and in units of debt and liquid schemes.