Zerodha Fund House Launches Its Maiden Funds
Zerodha Fund House announced the launch of its maiden funds - Zerodha Nifty LargeMidcap 250 Index Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund, open-ended, passive, index equity mutual fund schemes. The NFO will be open from 20th October 2023 to 3rd November 2023. Zerodha Fund House is a joint venture between India's largest stock broking firm Zerodha Broking Limited and a leading portfolio investing platform, smallcase Technologies Pvt Ltd. Zerodha Fund House (ZFH) is India’s only passive-only AMC which will build simple, transparent, affordable mutual funds. ZFH will leverage technology at every touchpoint to provide building blocks for every investor's portfolio. The Index Fund is an open-ended scheme replicating Nifty LargeMidcap 250 Index. And the ELSS is an open-ended passive equity linked savings scheme with a statutory lock-in period of 3 years and tax benefit replicating Nifty LargeMidcap 250 Index. Zerodha Nifty LargeMidcap 250 Index Fund & Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund will be benchmarked against the Nifty LargeMidcap 250 Index TRI (Total Returns Index). The schemes will adopt a passive investment strategy and will endeavour to invest in stocks in proportion to the weightage of the stocks in the Nifty LargeMidcap 250 Index. The ELSS scheme provides tax benefit under Section 80 (C) of the Income-tax Act, 1961. Speaking on the occasion, Vishal Jain, CEO, Zerodha Fund House said, “We are very excited to announce the launch of our first NFO. We believe there is a massive opportunity to help more Indians access the capital markets through simple products and exposures, and that's what we're committed to do. This NFO is an effort to provide a simple equity product with a good mix of stability and growth, which can be used by investors as a singular investment solution to invest in the top 250 companies who stand to benefit from the long-term growth of the Indian economy.”
Tags : Zerodha Fund House mutual fund schemes Nifty LargeMidcap Vishal Jain