Mirae Asset has launched a Tax SavingsFund called Mirae Asset Tax Saver Fund (MATSF).
Mirae Asset Tax Saver Fund is an open ended equity linked saving scheme with a 3 year lock-in period. The fund aims to provide dual advantage of growth through equities and Tax Savings. The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments, as stated in the press release issued by the company.
Jisang Yoo, CEO, Mirae Asset Global Investments (India) Pvt. Ltd. commented “Mirae Asset is enhancing its product basket to provide varied investment solutions for its investors and partners. The Tax Saver fund will help us enlarge our retail investor base. We believe in the current market situation if an investor comes with a 3 year perspective they maybe richly rewarded. However, we would like to position our fund beyond only the tax aspect. Tax is one of the two-aspects to invest in any such fund. Essentially, it is a product to commit long term allocation in equities, with an added tax advantage.
The NFO opens on November 20 and closes on December 18. The fund will reopen for fresh purchases on from December 29.
