Taurus MF launches 'Taurus Ethical Fund'

India's first Actively Managed Shariah Fund (An Open-Ended Equity Oriented Scheme)

• Open-Ended Equity Oriented Diversified Scheme
• NFO  opens on February 19 2009 and Closes on 20th March, 2009
• An independent Shariah Advisory board (TASIS)  to certify investments are in compliance with Shariah norms.
• Regular monitoring and quarterly certification of stock picks for Shariah compliance and benchmarked against S&P CNX 500 Shariah index
• Taurus to advise purification of any income generated due to non compliance of Shariah  principles to the investors
• Since inception i.e from Jan 2007,  4 out of 8 quarters, the S&P CNX Shariah Index has outperformed the S&P CNX index
• The fund is professionally managed and back tested for performance

Taurus Mutual Fund today announced the launch of ‘Taurus Ethical Fund’, India’s first actively managed Equity Oriented Shariah compliant fund. The NFO for the open-ended diversified equity fund opens on February 19, 2009.

The scheme seeks to appreciate capital based on the Islamic Shariah principles. These principles advocate abstinence from investing in speculative businesses and business that entail a high amount of debt, interest income and trading on current assets/liabilities.

The scheme has been certified by an independent Shariah Board named TASIS (Taqwaa Advisory and Shariah Investment Solutions). The role of this board is to regularly monitor stock picks and certify their Shariah compliance on a quarterly basis. TASIS Shariah Board comprises of the eminent Shariah Scholar Mufti Barkatullah Abdul Kadir, who is on the Shariah Board of reputed UK based Banks.

Launching the NFO in Mumbai, Mr. Waqar Naqvi, CEO,Taurus Mutual Fund said “It’s all about investing in the right businesses and Shariah compliance ensures that. The need to pick businesses that foster wealth creation over the long term and distribute it equitably forms the basis of Shariah investing. It also provides an effective filter to identify and avoid speculative businesses. No wonder, Shariah compliant businesses have weathered the sub prime crisis”.

The scheme is benchmarked against S&P CNX 500 Shariah index. Taurus MF would advise purification of income generated in cases of any aberration such as non compliance of Shariah principles. The minimum investment in the NFO is Rs. 5000/-

About Taurus Mutual Fund:
TAURUS Asset Management Company Limited was incorporated in 1994. It has around   Rs.213 crores of average assets under management (as on 31st January 2009) and investor base of approximately 1.65 lacs. The company presently offers 8 mutual fund schemes through a network of 21 branches spread across 21 cities.

Prominent schemes of the fund house include Taurus Star Share (which was conferred the Lipper Award for the Equity Category for a three year performance), Taurus Bonanza Fund & Taurus Tax Shield