|PPFAS Mutual Fund has launched a new fund named as Parag Parikh Tax Saver Fund, an open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 04 July to 18 July 2019.
The investment objective of the Scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related instruments.
The scheme offers two plans regular plan and direct plan. Both plans offer growth option only.
The scheme would allocate 80% - 100% of assets in equity and equity related instruments with high risk profile and invest upto 20% of assets in debt instruments and money market instruments with low to medium risk profile.
The minimum application amount is Rs 500 and in multiples of Rs. 500/- thereafter.
The minimum additional amount is Rs 500 and in multiples of Rs. 500/- thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Not Applicable
Exit load: Nil
Benchmark Index for the scheme is NIFTY 500 TRI
The fund manager of the scheme is Rajeev Thakkar.
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