Despite of tight liquidity conditions, Taurus Mutual Fund, one of the oldest mutual funds in the country has successfully collected over Rs 100 crore through its first one month Fixed Maturity Plan (FMP) issue.

The AMC claims that the issue managed to attract funds largely due to the relationship it has built with the investors. Taurus's FMP issue received good response between September 23 and 25. 

The plan will invest in high quality debt instruments such as bank certificate of deposits (CD) and the benchmark index for this scheme was CRISIL liquid fund index.

The scheme has offered three plans namely retail plan and institutional plan. Further, it also offered growth option and dividend option. In addition, dividend payout and reinvestment facilities are available under dividend option.

Recently, TCS has signed pact with Bajaj Allianz for sale of schemes, and for strengthening its distribution network. The company is presently in talks with other big distribution houses for similar tie-ups.

Currently, the company has 21 branches across India compared to five branches six months back. The firm is targeting more than 30 locations by the end of this fiscal.

Taurus Mutual's total assets under management stood at Rs 408.14 crore on Sep 30,2008 as against Rs 288.78 crore in July.