Tata MF to launch real estate fund
The Hindu Business Line — July 25, 2006

Tata Mutual Fund is all set to launch a real estate mutual fund (REMF) scheme and is awaiting regulatory approvals. "We are ready with our plan for the real estate scheme, however, awaiting market regulator to effect amendment in SEBI (Mutual Funds) Regulations," Tata Asset Management Ltd, Managing Director Mr Ved Prakash Chaturvedi told PTI. The fund would be in the market for subscription two months after the final approval from SEBI in the form of necessary amendment, he said.

"Since guidelines were finalised last month, I believe by December the fund house will have its scheme in the market," Mr Chaturvedi said. Fund houses such as Prudential ICICI, HDFC and UTI Mutual Fund have already announced their plans to launch real estate mutual funds. According to the guidelines issued by SEBI in the last week of June, the scheme will invest directly or indirectly in real estate property.