Essel Mutual Fund has announced a bonanza offer to its distributors whereby it will bear GST benefit on behalf of its distributors.
The fund house will bear the 18% GST therefore insulating distributors against the impact of GST, says a press release.
The GST benefit will be available on all present and future schemes of Essel Mutual Fund, till March 2019.
On the announcement of this scheme, Rajiv Shastri, CEO, Essel Mutual Fund, said, “For the industry to grow it is important that distributors and IFAs remain engaged and encouraged. Towards this end, and based on the feedback received from the distribution community, we are happy to announce this initiative. We believe in inclusive growth which benefits all stakeholders and this initiative is in line with Essel Finance’s motto, ‘Grow With Us.’
Essel Finance, a part of the conglomerate Essel Group announced its entry to the Rs.2 1 trillion mutual fund industry in October 2017. Earlier in August, Essel Finance had acquired Peerless Funds Management.
The company has AUM of Rs.980 crore as on September 2017.