Amongst first few private sector Mutual Funds to be registered with SEBI, one such is Taurus Mutual Fund. It was established as a Trust on August 20, 1993, as per the provisions of the Indian Trusts Act, 1882. The registration of Taurus Mutual Fund was done with SEBI on Sept 21, 1993, under Mutual Fund Registration Code No. MF/002/93. The present sponsor of the Fund is HB Portfolio Limited & the Taurus Investment Trust Company Ltd is the Trustee.
Taurus Mutual Fund launched its first scheme – Taurus Starshare in early 1994 which is functional even today. Needless to say, it is because of its continual performance across these past 20 years that this scheme exists even today. Taurus Mutual Fund was perhaps the first private sector fund house to acquire permissions to launch completely repatriable investments by NRIs/FIIs.The scheme has employed investments from IFC, Washington, Brussels & EFM, the European Economic Community, UK.
Board of Directors for Taurus Asset Management Company Ltd.
The list of board of directors are as under:
1. AMC Directors
- Mr. J.P Kundra (Former- MD State Bank of India)
- Mr. M.G. Gupta (Former Member-Finance-Delhi Development Authority)
- Mr. Lalit Bhasin(President- HB Charitable Society)
2. Trustee Directors
- Mr. K.N. Goyal (Practising Chartered Accountant)
- Mr. Harbhajan Singh(Former Chairman, Allahabad Bank)
- Mr. Lalit Malhotra (Managing Director- CHL Limited)
- Mr. G.N Tandon (Associated with ATB Cargo (P) Ltd. & ATB Finance & Investment (P) Ltd.)
- Mr. Anil Goyal (Managing Director – HB Portfolio Ltd.)
- Mr. Yash Kumar Sehgal(Member of Chartered Institute of Bankers, London)
The registrar of Taurus Asset Management Company Ltd. is Karvy Computershare Private Limited.
There are only two fund managers of Taurus Mutual Fund which are as follows:
1. Mr. Sadanand Shetty(Fund manager-Equity)
2. Mr. Archit Shah(Fund manager-Debt)
Products offered by Taurus Mutual Fund
1. Equity Schemes
Equity schemes are those schemes which aim to offer long-term capital growth through investment in stocks or shares of highly rated companies. These funds are known as high risk funds. It is appropriate for medium to high risk investors. The following Equity funds are offered by Taurus Mutual Fund:
- Taurus Bonanza Fund
- Taurus Discover Fund
- Taurus Ethical Fund
- Taurus Infrastructure Fund
- Taurus Nifty Index Fund
- Taurus Star Share Fund
- Taurus Banking & Financial Services Fund
2. Equity Linked Savings Scheme(ELSS)
Equity Linked Savings schemes(ELSS) help investors save tax upto ₹ 46,350 per year by investing upto ₹ 1.5 lakhs per year. It comes with a 3-year lock-in period where investments are eligible to Income Tax exemptions under section 80C of the Income Tax Act, 1961. Taurus Tax Shield is the only ELSS fund offered by Taurus Mutual Fund.
3. Income/Debt Schemes
Debt schemes are those schemes which deploy the funds in debt-market instruments such as bonds, debentures, government securities and much more. These are called to be the secured form of investments which generate fixed returns. Debt funds are preferred by those investors who don’t consider investing in high volatile conditions of equity markets as it consists of high-risk exposure. There are only three income/debt schemes offered by Taurus Mutual Fund:
- Taurus Short Term Income Fund
- Taurus Ultra Short Term Bond Fund
- Taurus Dynamic Income Fund
4. Liquid Schemes
Liquid schemes are those schemes which come under low-risk category and offer medium returns. These schemes are appropriate for investors with the short-term investment horizon. Taurus Liquid Fund is the only Liquid schemes offered by Taurus Mutual Fund.
(Data taken from AMC Website)