Zerodha Mutual Fund launches its maiden funds
Zerodha Broking and Smallcase Technologies, launched its maiden funds — Zerodha Nifty LargeMidcap 250 Index Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund.
Both are open-ended, passive, index equity mutual fund schemes with the minimum amount of investment being Rs 100 and Rs 500, respectively. The NFOs will close on November 3.
The schemes will replicate the Nifty LargeMidcap 250 Index, with the ELSS having a mandatory lock-in of 3 years. The 250 stocks of the Nifty LargeMidcap 250 Index are the combination of the universe of stocks forming part of the Nifty 100 Index and Nifty Midcap 150 Index.
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The Nifty LargeMidcap 250 Index, which covers approximately 84% of the full market capitalisation aims to reflect the performance of the large and midcap companies listed on NSE with 50% weight allocated to each segment.
