Mutual Fund News : Samco Mutual Fund Introduces Samco ELSS Tax Saver Fund

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Samco Mutual Fund has launched – Samco ELSS Tax Saver Fund

It is an open-ended Equity Linked Saving Scheme with a statutory lock-in of 3 years and tax benefit.

Accordingly, the investment objective of the scheme is to generate long-term capital appreciation through investments made predominantly in equity and equity related instruments. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Under normal circumstances, Samco ELSS Tax Saver Fund will hold an allocation of 65% to 100% of its assets in Equity and Equity related instruments and 0% to 5% in Debt and Money Market instruments.

As per the Scheme Information Document, Samco ELSS Tax Saver Fund shall endeavour to invest in only the most efficient companies that pass rigorous tests under the HexaShield Framework. There is a proprietary in-house HexaShield framework to guide the stock selection. The portfolios will be built utilising a bottom-up stock selection process, focusing on appreciation potential of individual stocks from a fundamental perspective. Within equities, the fund’s strategy will endeavour to have a predominantly higher allocation to mid and small cap companies selected using above stated process. SAMCO’s E3 strategy is to buy efficient companies at an efficient price and maintain an efficient portfolio turnover.

The Fund will have the flexibility to invest across the market capitalization spectrum. The Scheme may also invest a certain portion of its corpus in debt and money market securities. Investment in debt securities will be guided by credit quality, liquidity, interest rates and their outlook.

Samco ELSS Tax Saver Fund’s performance will be benchmarked against Nifty 500 Index TRI

The scheme will be managed by Mrs. Nirali Bhansali

The NFO opens for subscription on November 15, 2022 and closes on December 16, 2022. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment.

The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 500/- and in multiples of any amount thereafter.

The scheme offers Regular Plan and Direct Plan each plan offers Growth option only.

[Read: Is Samco ELSS Tax Saver Fund a Worthwhile Tax-Saving Option for You?]