Zerodha files draft papers with Sebi for 2 passive funds after nod for AMC biz
Zerodha has filed papers with the Securities and Exchange Board of India (Sebi) to launch two passive funds.
The two funds are Zerodha Tax Saver (ELSS) Nifty LargeMidcap 250 Index Fund and Zerodha Nifty LargeMidcap 250 Index Fund.
Both are passive index funds, tracking the Nifty LargeMidcap 250 Index Fund.
Zerodha Tax Saver Nifty LargeMidcap 250 Index Fund is an open-ended passive equity linked savings scheme, with a statutory lock-in period of 3 years.
The fund will invest in stocks comprising the Nifty LargeMidcap 250 index in the same proportion as in the index, while offering deduction on such investment under the 80C income tax.
The Zerodha Nifty LargeMidcap 250 index fund is also an open-ended scheme, but a normal diversified scheme.
The corpus of the scheme will be invested in equity and equity related instruments, debt, money market instruments and other permitted instruments.
More to come
