Taurus Mutual Fund Taurus Ethical Fund
Halal Investing in Bihar
Open-ended equity scheme following Shariah and other ethical principles, allotted 6 April 2009 (direct plan 1 January 2013), benchmarked to BSE 500 Shariah TRI. Month-end AUM Rs 402.37 crore with base expense ratios of 2.10% (regular) and 0.86% (direct); minimum application Rs 500; entry load nil, exit load 1% within 365 days. The SID mandates business screens (alcohol, gambling, tobacco, vulgar entertainment, film exhibition and production, media broadcasting, conventional financial services, narcotics, meat, poultry and leather) plus financial screens in line with BSE 500 Shariah criteria, and surplus cash is kept in current accounts rather than interest-bearing instruments (crawled taurusmutualfund.com 2026-08-06; fund page reports returns as on 30 Jun 2026).
Taurus Ethical is the transparent-screens, opaque-certifier option in Indian halal investing. The SID prints exactly the ratios it applies (25% debt to assets, 4% interest income) and even commits idle cash to non-interest current accounts, which is better screening disclosure than Tata provides. But the certification story is muddier: an unnamed advisor, a scanned audit certificate, and an explicit disclaimer from TASIS that it does not certify this fund. Returns in the direct plan have beaten the BSE 500 Shariah benchmark over 3 and 5 years. If named-scholar certification matters most to you, Tata Ethical is the cleaner chain; if printed methodology matters most, Taurus wins.
Pros
- Printed screening thresholds in the SID are more transparent than most peers' marketing language
- Direct plan base TER of 0.86% is reasonable; 3-year direct return 12.81% beat the benchmark's 10.47% (as on 30 Jun 2026)
- Explicit SID commitment that idle cash earns no interest
- Publishes an annual Shariah audit certificate, which Tata and Quantum do not
Cons
- TASIS states on its own site that Taurus Ethical Fund is NOT TASIS-certified, and the SID names no advisor
- Regular plan base TER of 2.10% is the highest in this cluster
- Small fund at Rs 402 crore; portfolio disclosure on the fund page was stale (dated 2021-07-31) at crawl
- Mandate is 'Shariah, Jainism and other ethical principles', broader than a pure Shariah certification
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Product Details
Type
Mutual Fund
Expense Ratio
0.86% (direct) / 2.10% (regular) base expense ratio, per fund page crawled 2026-08-06
Min Investment
Rs 500 and multiples of Re 1
Screening Method
SID business screens (alcohol, gambling, tobacco, vulgar entertainment, film, media broadcasting, conventional financial services, narcotics, meat/poultry/leather) plus financial screens per BSE 500 Shariah criteria: interest-bearing debt <= 25% of total assets, interest income <= 4% of total income; non-compliant holdings exited within a stipulated timeframe
Taurus Mutual Fund in Bihar
Taurus Mutual Fund's Taurus Ethical Fund is accessible to investors in Bihar, structured as Actively managed Shariah/ethical equity fund: India's halal investing shelf is digital, so region matters less than fees, minimums, and who certifies the screening. The product reports an expense ratio of 0.86% (direct) / 2.10% (regular) base expense ratio, per fund page crawled 2026-08-06. Minimum investment: Rs 500 and multiples of Re 1. Taurus Mutual Fund operates across India, so Bihar residents have full access to this product.
Our Take on Taurus Mutual Fund
Taurus Ethical is the screening-transparency pick with a certification asterisk. No other Indian fund prints its Shariah ratios in the SID or commits idle cash to non-interest accounts in writing, and the direct plan has beaten its benchmark over 3 and 5 years. But the advisor is unnamed, the published audit certificate is an unreadable scan, and TASIS goes out of its way to say it does not certify this fund. Suitable as a complement or alternative to Tata for investors who weigh disclosed methodology over verifiable certification - avoid the 2.10% regular plan.
How Taurus Mutual Fund Works
Invest
Rs 500 minimum via taurusmutualfund.com or platforms; choose the direct plan (0.86% base) over regular (2.10%).
Screens filter the book
Business exclusions plus 25% debt and 4% interest-income caps per the SID; failing stocks are removed within a stipulated timeframe.
Monitor the certificate
An annual Shariah Audit Certificate is posted on the fund page; purification is not published, so calculate your own or use TASIS tools.
Financing Structure
Open-ended SEBI-regulated equity scheme applying a contractual Ethical Investment Framework (Shariah plus other ethical principles) in the SID. No Shariah regulatory framework exists in India; enforcement is internal, guided by an unnamed appointed advisor, with an annually published Shariah audit certificate.
In-Depth Analysis
Taurus Ethical Fund, allotted 6 April 2009 (direct plan 1 January 2013), is India's second-oldest Shariah-screened fund and the only one benchmarked to the BSE 500 Shariah TRI rather than NSE's Shariah indices. At Rs 402.37 crore month-end AUM it is a tenth of Tata Ethical's size.
Its SID is the most quantitatively explicit Shariah document in Indian fund management. Business screens exclude conventional financial services, alcohol, gambling, tobacco, vulgar entertainment, film exhibition/production/distribution, media broadcasting, narcotics, and meat, poultry and leather. Financial screens, stated 'in line with BSE500 Shariah Index criteria': interest-bearing borrowing and debt not exceeding 25% of total assets, and interest plus interest-linked income not exceeding 4% of total income. Companies failing these are removed within a stipulated timeframe, and surplus funds sit in current accounts with a written commitment that they 'will not be invested in any interest bearing' instruments.
The governance picture is weaker than the screening picture. The 2025 SID frames the mandate as an Ethical Investment Framework spanning 'Shariah, Jainism and other ethical principles' and refers only to an unnamed 'appointed advisor' whose guidance the fund manager relies on but who 'will have no role in making or influencing investment decisions'. The fund page hosts a Taurus Shariah Audit Certificate 2025-26, but the PDF is a scan with no extractable text, so the certifier cannot be verified from the document. TASIS states plainly on tasis.in that 'Taurus Ethical Fund is NOT Certified as Shariah Compliant by TASIS' - a disclaimer worth knowing given TASIS screens both NSE's Shariah indices and Taurus's own benchmark family's competitor products.
Performance has been the fund's redeeming feature: direct plan returns of 12.81% (3-year) and 10.54% (5-year) versus benchmark returns of 10.47% and 8.62% respectively (as on 30 Jun 2026). Since inception the regular plan compounds at 15.66%. Fund manager Anuj Kapil runs the equity process.
Shariah Compliance Details
- SID business screens: conventional finance, alcohol, gambling, tobacco, vulgar entertainment, film, broadcasting, narcotics, meat/poultry/leather excluded (crawled 2026-08-06)
- SID financial screens: interest-bearing debt <= 25% of total assets; interest income <= 4% of total income
- Surplus cash in current accounts only, per SID
- Shariah Audit Certificate FY 2025-26 published (scanned PDF, signatory not machine-readable)
- TASIS disclaimer on tasis.in: Taurus Ethical Fund is NOT TASIS-certified (crawled 2026-08-06)
How Taurus Mutual Fund Compares
Against Tata Ethical: Taurus prints its ratios where Tata prints none, but Tata has the verifiable certifier, the 10x asset base, the cheaper direct plan and published purification. Against Quantum: both frame mandates as broader-than-Shariah ethics, but Taurus publishes screens and an audit certificate where Quantum publishes neither. Against Shariah BeES: the ETF's monthly TASIS screening is mechanically stricter; Taurus offers active mid-cap-flavored exposure from the BSE 500 universe with recent benchmark-beating returns.
Larger, cheaper, TASIS-certified, purification published - the default core.
Newer ethical process, lower total TER on page, no certificates at all.
Passive index alternative with TASIS-screened underlying.
Bottom Line
The most transparent screening math in Indian halal investing, attached to the least verifiable certification. Take the direct plan for its benchmark-beating record, and be honest with yourself about which of those two facts matters more to you.
Read full Taurus Mutual Fund reviewShariah Compliance & Oversight
The current SID (June 2025) says the Fund Manager 'will seek and rely on the guidance of the appointed advisor' for matters not covered by the Ethical Investment Framework, and that TAMCO 'may also seek guidance from identified ethical advisors who shall provide the list of securities' - no advisor is named in the document's crawlable text. The fund page publishes a Taurus Shariah Audit Certificate 2025-26 (uploaded July 2026), but the PDF is a scanned image whose signatory is not machine-readable. TASIS separately states on tasis.in that 'Taurus Ethical Fund is NOT Certified as Shariah Compliant by TASIS' (all crawled 2026-08-06).
Purification: Not published on the fund page; SID mandates removal of non-compliant stocks within a stipulated timeframe
2026-08-06
Why It's Halal
The SID's Ethical Investment Framework applies both business screens and financial screens: interest-bearing debt at or below 25% of total assets and interest plus interest-linked income at or below 4% of total income, in line with BSE 500 Shariah Index criteria, with mandated exit of stocks that fall out of compliance. Surplus scheme money sits in current accounts and 'will not be invested in any interest bearing' instruments per the SID. Taurus publishes a Shariah Audit Certificate for FY 2025-26 on the fund page. Honest caveats: the certificate PDF is a scan whose certifier name is not machine-readable, the current SID names no advisor (it references 'identified ethical advisors' and frames the mandate as Shariah, Jainism and other ethical principles), and TASIS states on its own site that Taurus Ethical Fund is NOT certified by TASIS (tasis.in, crawled 2026-08-06). SEBI provides no Shariah framework - this is voluntary private compliance.
Regional Availability
Taurus Mutual Fund serves all of India
✓ Available nationwide including Bihar
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Total Value
₹3,43,778
Contributed
₹1,30,000
Growth
₹2,13,778
Hypothetical projection. Past performance does not guarantee future results.
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.