Zerodha MF files papers with SEBI for two schemes
Zerodha MF files papers with SEBI for two schemes. Nearly a month after being granted its final licence by the Securities and Exchange Board of India (SEBI), Zerodha Asset Management Ltd., one of India’s newest fund houses, is getting ready to introduce mutual fund schemes.
Zerodha has submitted draft offer documents to the market regulator for the launch of two schemes, the Zerodha Tax Saver (ELSS) Nifty Large Midcap 250 Index Fund and the Zerodha Nifty Large Midcap 250 Index Fund (ZN250), in accordance with its mandate to establish passive schemes.
The benchmark for both schemes would be the Nifty Large Midcap 250 Index Fund. The ELSS scheme is a tax-saving scheme that offers the benefits of Section 80C tax deductions, up to an investment of ₹1.5 lakh, in contrast to the conventional diversified equities fund.
According to SEBI’s filing, Zerodha Tax Saver (ELSS) Nifty LargeMidcap 250 Index Fund is an open-ended passive equity linked saving scheme with a statutory lock-in period of three years and tax benefit replicating/tracking Nifty LargeMidcap 250 index.
“The scheme is an equity linked saving scheme and intends to meet the requirements of any other notification/regulations that may be prescribed by government /regulatory bodies from time to time,” said the filing.
(more to come)
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Updated: 04 Sep 2023, 08:27 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.