Mumbai: Union KBC Mutual Fund announced the launch of its open ended tax saver ELSS.
NFO Period: November 8, 2011 to December 9, 2011
Investment objective: To generate income and long-term capital appreciation by investing substantially in a portfolio consisting of equity and equity related securities.
Investment Strategy: The fund will follow a combination of bottom up and top down approach.
Minimum Subscription: Rs.500 and in multiples of Rs.500 thereafter.
Benchmark: BSE 100 Index
Existing ELSS: Presently there are more than 40 (open-ended) tax saver schemes in the market with combined assets under management of Rs. 22,501 crore.