Bajaj Finserv ELSS Tax Saver Fund NFO opened for subscription on December 24, 2024. The initial window to invest will remain open till January 22, 2025, according to the product document. Listing will take place on February 3, 2025. Finserv Asset Management Limited (AMC) is a subsidiary of Bajaj Finserv Ltd. The 3-year-old AMC has an AUM (assets under management) 18,986.81 crore. It has a total of 16 mutual fund schemes.
The year 2024 has witnessed nothing fewer than 205 new mutual fund offerings (NFOs), a figure which does not include the NFOs in December. Cumulatively, they raised more than Rs 1 lakh crore. As far as the number of NFOs is concerned, 2024 set a record. Significantly, with 76 new index funds, this category emerged with the highest number. Another winner was the sectoral and/or thematic funds which collected as much as Rs 67,772 crore.
Bajaj Finserv ELSS Tax Saver Fund NFO features
The main features of Bajaj Finserv ELSS Tax Saver Fund that will interest a prospective investor are as follows:
Fund type: Equity mutual fund, Open-ended
Minimum lumpsum investment: Rs 500
Minimum additional investment: Rs 500
Expense ratio: NIL
Lock in period: 3 years
Benchmark index: BSE 500 Total Return Index
Taxation – STCG: 20%, LTCG: 12.5%
Risk: High
Fund managers: Nimesh Chandan, Siddharth Chaudhary, Sorb Gupta
Bajaj Finserv ELSS Tax Saver Fund investment objective
One of the reasons for growing popularity of ELSS funds is their combination of tax efficiency with the growth potential that the equity market offers. If an investor has a moderate to high-risk appetite, ELSS funds can be an appropriate instrument to create wealth in the long term as well as generate a significant return. The investment objective of Bajaj Finserv ELSS Tax Saver Fund has been stated as “To generate long term capital appreciation from a diversified portfolio of predominantly equity and equity related securities while offering deduction on such investment made in the scheme under Section 80C of the Income Tax Act 1961.”
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The NFO (New Fund Offer) of Bajaj Finserv ELSS Tax Saver Fund opened on December 24, 2024 and will remain open till January 22, 2025. February 3, 2025 has been scheduled as the listing date. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
