Zerodha Fund House Launches Its Maiden Mutual Fund Schemes

financialexpress.com:

Zerodha Fund House on Wednesday (October 25) 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 opened on 20th October 2023 and will remain open till 3rd November 2023. 

Zerodha Fund House is a joint venture between Zerodha Broking Limited and smallcase Technologies Pvt Ltd. 

Zerodha Fund  House (ZFH) is a passive-only AMC which aims to build simple, transparent, and 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 and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund will be benchmarked against 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. 

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The ELSS scheme provides tax benefit under Section  80 © of the Income-tax Act, 1961. 

“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