The ELSS scheme is a tax saver scheme that will give the Section 80C tax deduction benefits, up to an investment of Rs 1.5 lakh.
Zerodha Fund House (ZFH), one of the newest players to join the mutual fund industry, has filed draft documents with Securities and Exchange Board of India (Sebi) to launch its first two schemes on Monday.
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Last month, the Nithin Kamath-led firm got Sebi’s nod to launch mutual schemes. ZFH is a joint venture between the leading brokerage firm Zerodha and fintech platform smallcase. Vishal Jain is the CEO of ZFH.
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Both the proposed schemes are index funds tracking Nifty LargeMidcap 250 index, among which one is an ELSS index fund and another is non-ELSS index fund. The aggregate weight of large cap stocks and mid cap stocks is 50% each and are reset on a quarterly basis.
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The ELSS scheme is a tax saver scheme that will give the Section 80C tax deduction benefits, up to an investment of Rs 1.5 lakh.
ZFH’s strategy of launching passive funds will enable it to target investors at lower price points.
