IIFL Mutual Fund launches IIFL ELSS Nifty 50 Tax Saver Index Fund

NFO period: 01^st December - 21^st December, 2022

Highlights of the NFO:

• Scheme type - An open ended Passive Equity Linked saving scheme with a statutory lock-in period of 3 years and tax benefit, replicating/tracking the Nifty 50 index


• Investment objective - The investment objective of scheme is to invest in stocks comprising the Nifty 50 Index in the same proportion as in the index to achieve returns equivalent to the Total Returns Index of Nifty 50 Index (subject to tracking error), while offering deduction on such investment made in the scheme under section 80C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus. There is no assurance or guarantee that the investment objective of the scheme would be achieved. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to avail Section 80C benefits.


• Product suitability - This product is suitable for investors who are seeking capital appreciation over long term; by investing in stocks comprising the Nifty 50 Index in the same proportion as in the index to achieve returns equivalent to the Total Returns Index of Nifty 50 Index, subject to tracking error while offering deduction under Section 80C of IT Act, 1961.


• Minimum Application Amount - First investment is Rs. 500/- and in multiples of Rs. 500/- thereafter (subject to lockin-period of 3 years from the date of allotment)


• Plan/ Options available - Regular Plan & Direct Plan having income Distribution cum Capital Withdrawal and Growth Option under each of the above plans.


• Fund Managers - Mr. Parijat Garg


• Benchmark - Nifty 50 TRI Index